Synthetic Paper Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Synthetic Paper Market is segmented By Product (High-density polyethene, Biaxially Oriented Polypropylene, Others), By Manufacturing Process (Fiber Synthetic Paper, Film Synthetic Paper, Film-Laminate Synthetic Paper), By Application (Labels, Non-Labels), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031 

Synthetic Paper Market Overview

Global synthetic paper market reached US$ 766.0 million in 2022 and is expected to reach US$ 1,389.44 million by 2030, growing with a CAGR of 9.1% during the forecast period 2024-2031.

The global synthetic paper market has been experiencing a significant revolution in recent years, driven by the increasing demand for environmentally friendly and durable alternatives to traditional paper. As a sustainable solution, synthetic paper has found applications across various industries, including printing, packaging, labels, and more.

The high-density polyethene drive leads the product segment in the global synthetic paper market, accounting for almost half of the market share. Similarly, the Asia-Pacific region dominates the synthetic paper market, capturing the largest market share of over 1/3rd. The Ministry of Environment in Japan indicated that the Asia-Pacific recorded a 15% increase in synthetic paper consumption in 2021 compared to the previous year.

Synthetic Paper Market Scope

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Synthetic Paper Market Dynamics

The Versatility of Synthetic Paper and Its Extensive Application Across Various Industries

The versatility of synthetic paper has led to its extensive application across various industries, including packaging, labels, printing, and advertising. In the packaging industry, synthetic paper's resistance to moisture, chemicals, and tearing has made it a preferred choice for applications in food and beverages, pharmaceuticals, and consumer goods. Furthermore, the labeling and printing industries have witnessed a substantial shift towards synthetic paper due to its ability to withstand extreme conditions and offer vibrant print quality.

The growth of the e-commerce sector has also spurred the demand for durable and attractive packaging materials, further fueling the adoption of synthetic paper. According to the World Trade Organization (WTO) data, after 2020, the global trade of synthetic paper in end-use industries has increased by 12% year-on-year.

Advancements in Synthetic Paper Manufacturing Technologies

Advancements in synthetic paper manufacturing technologies have played a crucial role in boosting the market. Modern manufacturing processes have enabled producers to enhance the quality of synthetic paper, making it more cost-effective and accessible to a broader range of industries.

Innovations such as improved polymer chemistry and coating techniques have contributed to the paper's enhanced printability and overall performance. Data from the International Patent Office reveals a significant rise in patent applications related to synthetic paper technologies after 2020, indicating the rapid pace of innovation in the industry.

Growing Concern for Environmental Sustainability

One of the primary restraints on the synthetic paper market is the growing concern for environmental sustainability. Traditional paper products are often biodegradable and considered more eco-friendly. On the other hand, synthetic paper, derived from non-biodegradable materials such as plastic resins, raises issues related to waste management and recycling.

Governments across the globe have intensified their focus on reducing plastic waste and promoting sustainable alternatives. As per, U.S. Environmental Protection Agency in 2021, the U.S. generated approximately 34.5 million tons of plastic waste, with only 9.5% being recycled. The majority of plastic waste is discarded in landfills or incinerated, contributing to environmental degradation.

Synthetic Paper Market Segmentation

The global synthetic paper market is segmented based on product, manufacturing process, application and region.

Increasing environmental concerns

Synthetic paper, a revolutionary material offering durability, water resistance, and printability, has been experiencing a significant surge in demand globally. One of the key components driving this growth is high-density polyethene (HDPE), a versatile polymer that has proven to be a game-changer in the synthetic paper industry.

In the wake of increasing environmental concerns, the synthetic paper market has witnessed a paradigm shift towards sustainable and eco-friendly solutions. HDPE has emerged as a frontrunner in this context, owing to its recyclability and minimal impact on the environment. Governments worldwide have been promoting the use of recyclable materials, which has further fueled the adoption of HDPE-based synthetic paper products.

Synthetic Paper Market Geographical Share

Versatility and Durability

The Asia-Pacific region has emerged as a significant player in the global synthetic paper market in recent years. Synthetic paper, a sustainable and eco-friendly alternative to traditional paper, has witnessed growing demand across various industries due to its versatility and durability. The Asia-Pacific region has experienced an unprecedented surge in the usage of synthetic paper across diverse industries, including packaging, printing, labeling, and advertising.

Governments in the region have increasingly embraced eco-friendly policies, driving the adoption of sustainable materials like synthetic paper in various applications. By 2022, the packaging segment alone accounted for over 45% of the total synthetic paper demand in the region, according to data from the Asian Development Bank (ADB).

Competitive Landscape

The major global players in the market include Arjobex SAS, Yupo Corporation, PPG Industries, Taghleef Industries Group, Transcendia, American Profol Inc, Afga-Gevaert Group, Seiko Epson Corporation, Nan Ya Plastics Corporation and Relyco Sales, Inc.

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic in late 2019 brought the world to a standstill, disrupting economies and industries globally. Among the affected sectors, the synthetic paper market experienced significant challenges and opportunities. Synthetic paper, a durable, eco-friendly alternative to traditional paper, witnessed fluctuations in demand as lockdowns, supply chain disruptions, and changing consumer behavior shaped its trajectory.

Before the pandemic, the global synthetic paper market was witnessing steady growth, driven by increasing environmental concerns, the need for sustainable packaging solutions, and technological advancements in the synthetic paper manufacturing process. While some sectors, such as packaging for essential goods and medical supplies, witnessed a surge in demand, others, like advertising and promotional materials, experienced a decline as businesses scaled back operations.

Key Developments

• On November 16, 2021, Agfa launches a new synthetic paper named SYNAPS Xerographic Matt (XM), which have the capability to prevent the growth of bacteria and viruses on the paper surface.
• On May 11, 2021, the specialty films manufacturer, Cosmo Films launched new non-tearable synthetic paper designed for dangler application.
• On May 12, 2021, Cosmo Films, an Indian spatiality films manufacturer introduced 100% co-extruded opaque synthetic paper.

Why Purchase the Report?

• To visualize the global synthetic paper market segmentation based on product, manufacturing process, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of synthetic paper market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global synthetic paper market report would provide approximately 64 tables, 56 figures and 181 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies