What is the global market size of Synthetic Paper Market?

Synthetic Paper Market size was valued at USD 1.01 Billion in 2021 and is poised to grow from USD 1.07 Billion in 2022 to USD 1.66 Billion by 2030, at a CAGR 5.6 % during the forecast period (2023-2030).

Global Synthetic Paper Market Size, Share, Growth Analysis, By Product(BOPP, HDPE), By Application(Label, and Non-Label) - Industry Forecast 2024-2031

Report ID: SQMIG15H2041 | Region: Global | Published Date: April, 2024
Pages: 184 | Tables: 63 | Figures: 75

Global Synthetic Paper Market Dynamics

Synthetic Paper Market Drivers

Growing Demand for Sustainable Packaging

Synthetic paper offers a sustainable alternative to traditional paper made from trees. As the demand for environmentally friendly packaging solutions increases, synthetic paper finds applications in various industries such as packaging, labels, and printing, driving the growth of the synthetic paper market.

Synthetic Paper Market Restraints

High Cost

Synthetic paper can be more expensive than traditional paper due to the specialized manufacturing processes and the cost of raw materials. The higher cost of synthetic paper may limit its adoption in price-sensitive industries or applications.

Global Synthetic Paper Market Report Snapshots

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Global Synthetic Paper Market size was valued at USD 1.07 Billion in 2022 and is poised to grow from USD 1.13 Billion in 2023 to USD 1.75 Billion, at a CAGR of 5.6% during the forecast period (2024-2031).

Major market companies are using growth tactics to establish a firm foothold in the industry. In order to increase their regional presence and product range and satisfy the rising demand for synthetic paper from emerging nations, corporations have used a variety of techniques, including new product development, acquisitions and mergers, and growth. 'Yupo Corporation', 'PPG Industries, Inc.', 'Arjobex SAS', 'Agfa-Gevaert Group', 'Hop Industries Corporation', 'American Profol Inc.', 'Taghleef Industries Group', 'Nan Ya Plastics Corporation', 'Neenah Inc.', 'Transilwrap Company, Inc.', 'Relyco Sales, Inc.', 'Cosmo Films Ltd.', 'DuPont de Nemours, Inc.', 'Mitsubishi Polyester Film GmbH', 'Seiko Epson Corporation', 'Glatfelter Corporation', 'Polyplex Corporation Limited', 'HOPAX Fine Paper Co., Ltd.', 'Stora Enso Oyj', 'Hydrosol GmbH & Co. KG'

Synthetic paper offers a sustainable alternative to traditional paper made from trees. As the demand for environmentally friendly packaging solutions increases, synthetic paper finds applications in various industries such as packaging, labels, and printing, driving the growth of the synthetic paper market.

Increasing Demand for Sustainable Packaging: The market is experiencing a rising demand for sustainable packaging solutions due to growing environmental concerns. Synthetic paper, which is often made from recyclable or biodegradable materials, offers a sustainable alternative to traditional paper. This trend is driven by changing consumer preferences and the implementation of stricter environmental regulations.

Asia-Pacific segment dominated the market and generated 36.2% of worldwide revenue in 2023. Due to the rising demand in the printing and packaging, as well as pharmaceutical industries, the market for the item in Asia-Pacific was estimated to be worth approximately USD 389.2 million in 2022. Additionally, it is anticipated that over the projection period, the exponential growth of online shopping in the region will have a substantial impact on the development of synthetic paper.

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Global Synthetic Paper Market Size, Share, Growth Analysis, By Product(BOPP, HDPE), By Application(Label, and Non-Label) - Industry Forecast 2024-2031

Global Synthetic Paper Market Dynamics

Global Synthetic Paper Market Report Snapshots

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