The global synthetic paper market size is expected to reach USD 1.39 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.1% during the forecast period. Growing demand for eco-friendly and energy-efficient products is expected to boost the product demand over the forecast period.
Folding cartons and blister packaging are some of the niche applications of the product and are expected to witness significant growth over the forecast period on account of high safety levels of packaging and pilferage resistance. Furthermore, the high quality of print on the surface is likely to propel the product demand in non-label applications.
Synthetic paper is widely used in a wide range of map applications including tourism guides, military, fishing, and mountain climbing. These maps can be easily folded for filing and storage. The properties of the products including spill-resistance, tear-resistance, lightweight, and flexibility are projected to positively impact growth of the synthetic paper market over the forecast period.
Manufacturers are engaged in utilizing polyester-based films for developing products such as nameplates, luggage tags, restaurant menus, pricing placards, ID cards, and door hangers. However, the polypropylene-based synthetic paper is estimated to remain dominant owing to its advantages such as good chemical resistance, flexibility, recyclability, and low cost.
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Further key findings from the report suggest:
High-Density Polyethylene is expected to witness a CAGR of 7.7% on account of the product attributes such as economical, high impact strength, moisture resistance, chemical resistance, and easy processing ability enabling its use in numerous applications
The consumption of the product in non-label application is likely to register a CAGR of 6.8% owing to the increased marketing activities undertaken by various companies to make banners, advertisements, and pamphlets to sustain competition
The high demand for the product from Asia Pacific is attributed to growing end-user industries including cosmetics, chemicals, and food and beverage due to the improved lifestyle and increasing disposable income of the working class population in the emerging economies
The product demand from Europe is expected to witness a CAGR of 5.6% on account of the increasing consumption of packaged foods attributed to rising working population
Major players operating in the synthetic paper market focus on entering into long-term supply agreements for film and chemicals with selected business partners, for obtaining a competitive edge.
Grand View Research has segmented the global synthetic paper market on the basis of product, application, and region:
Synthetic Paper Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Biaxially Oriented Polypropylene (BOPP)
High-Density Polyethylene (HDPE)
Polyethylene Terephthalate (PET)
Synthetic Paper Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Synthetic Paper Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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