Increasing adoption of synthetic fiber in the Food & Beverage (F&B) industry is a key factor driving market revenue growth.

VANCOUVER, BRITISH COLUMBIA, CANADA, June 7, 2024 /EINPresswire.com/ -- The global synthetic paper market size was USD 1.04 Billion in 2022 and is expected to register a rapid revenue CAGR of 5.4% during the forecast period. The global synthetic paper market is experiencing significant growth, driven by the increasing adoption of eco-friendly and recycled packaging, particularly in the Food & Beverage (F&B) industry. Synthetic paper, known for its durability and tear resistance, is becoming an essential material in various high-tech industries, including printing, packaging, and publishing.

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Market Drivers

The demand for synthetic paper is rising due to its environmental benefits and the increasing awareness about sustainable paper production. Government regulations promoting recycled materials and the growing use of paper in printing applications, especially in packaging and labeling, are key factors fueling market growth. Synthetic paper's superior durability makes it a preferred choice for producing various paper components.

Manufacturers in the synthetic paper market are seeing a surge in orders, driven by the need for recycled paper products. For instance, Cosmo Films Ltd. recently developed a new transparent antibacterial laminating film based on Biaxially Oriented Polypropylene (BOPP). This innovation addresses bacterial contamination concerns, enhancing the appeal of synthetic paper for hygiene-conscious applications.

Market Challenges

Despite its benefits, the high production costs of synthetic paper pose a significant challenge. The complex manufacturing process involves advanced technology, specialized machinery, and skilled labor, leading to higher operational expenses. These elevated costs can make synthetic paper less competitive compared to cheaper alternatives, potentially restraining market growth.

Segment Insights

Raw Material: The synthetic paper market is segmented by raw material into BOPP, High-Density Polyethylene (HDPE), Polyethylene Terephthalate (PET), and Polyvinyl Chloride (PVC). BOPP dominates the market due to its versatility and effectiveness in flexible packaging across various industries. Its resistance to UV light and durability make it a preferred choice for packaging applications.

Thickness: The market is also segmented by thickness into below 200 microns, 200 to 400 microns, and above 400 microns. The above 400 microns segment is expected to grow rapidly due to its use in producing durable packaging materials. This segment offers production yields and cost savings, making it attractive for eco-friendly manufacturing.

Application: Synthetic paper is used in printing, labels, tags, packaging, and other applications. The printing segment holds a significant market share due to the material's durability, water resistance, and ability to withstand extreme temperatures, making it ideal for menus, cards, tickets, and labels.

End-Use: The market is divided into industrial, institutional, commercial, retail, and other end-uses. The industrial segment is growing moderately fast, with synthetic paper being used for product identification tags and labels. Its durability and water resistance make it suitable for industrial applications, including maps, charts, instruction sheets, and ID cards.

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Synthetic Paper Top Companies and Competitive Landscape

The global synthetic paper market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective synthetic paper in the market.

Some of the major companies included in the global synthetic paper market report are:

PPG Industries

NAN Ya Plastics Corporation

Cosmo Films Ltd.

Valeron

Transcendia

Toray Industries Inc.

Du Pont

Japan Pulp & Paper Co., Ltd.

B & F Plastics Inc.

RELYCO

Yupo Corporation

Formosa

Folex

BASF SE

Sihl AG

Toyobo Co., Ltd.

Granwell Products Inc.

Evonik Industries

Aluminium Feron GmbH

Seiko Epson Corporation

Synthetic Paper Latest Industry News

On 17 January 2023, BASF announced to invest in enhancing polymer dispersion capabilities at its production site in Merak, Indonesia. This expansion is part of rising trend for high-quality packaging in ASEAN, where major paper and board manufacturers are concentrated. The expansion will provide additional supply reliability to meet rising demand for acrylic and styrene-butadiene dispersions in the Southeast Asia, Australian, and New Zealand markets.

On 17 September 2020, Konica Minolta Business Solutions U.S.A. Inc. (Konica Minolta), a leader in industrial and commercial printing and packaging solutions, announced the testing and approval of REVLAR Premium 10.7 mil and 13.7 mil RELYCO synthetic papers for use on the AccurioPress C14000 high-volume production press. As a result, RELYCO's REVLAR synthetic paper has been added to the Konica Minolta Approved Media Guide.

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Synthetic Paper Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global synthetic paper market on the basis of raw material, thickness, application, end-use, and region:

Raw Material Outlook (Revenue, USD Billion; 2019-2032)

Biaxially Oriented Polypropylene (BOPP)

Polyethylene Terephthalate (PET)

High-Density Polyethylene (HDPE)

Polyvinyl Chloride (PVC)

Thickness Outlook (Revenue, USD Billion; 2019-2032)

Below 200 microns

200 to 400 microns

Above 400 microns

Application Outlook (Revenue, USD Billion; 2019-2032)

Printing

Labels and Tags

Packaging

Others

End-use Outlook (Revenue, USD Billion; 2019-2032)

Industrial

Institutional

Commercial/Retail

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

UK

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of Middle East & Africa

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