Global Synthetic Paper Industry
New Study On “Synthetic Paper Market Segmentation and Major Players Analysis 2023” Added to Wise Guy Reports Database
The report covers a detailed research methodology of the “Global synthetic paper market”. Global Synthetic Paper Market is exhibited to grow at the compound annual growth rate of 6% during 2018-2023. Synthetic papers are heartily accepted due to environmental concerns and eco-friendly attributes. They are made without any wood fibers and avoids cutting of trees and performs better than the conventional papers.
Synthetic papers are heartily accepted due to their significant printing ability, durability and resistance to oil, water, grease, and another chemical. They have quick drying time and significant resistance to moisture and weather with high opacity and efficiency. It differs from the plastic film in printing characteristics, and it differs from the traditional paper due to the lack of wood fibers.
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Synthetic paper is a suitable medium for indoor advertisements, posters, banners, and other kinds of photo printing. Polyester is widely used in the areas of graphical illustrations made outside and other applications due to its ability to withstand heat especially among other thermoplastics. Polyester is a high-performance and versatile material offering good electrical insulation, heat and chemical resistance, consistent surface finish, high flexing and tear strength, and low water absorption.
The product is widely used in applications as it is extremely eco-friendly and pollution-free as they are not producing any toxic gases during the incineration process. Furthermore, increased use of the product in making maps, banners, charts, and graphics due to its long lifespan is projected to drive the non-label application segment.
Digital printing is expected to pave the way for new opportunities for the product over the forecast period. The low-cost is likely to hinder the development of synthetic paper over the forecast period, which again becomes a major factor in the growth of the synthetic paper market.
The Global Synthetic Paper Market Key players include Agfa-Gevaert N.V., American Profol INC., Arjobex Sas, Azbil Corporation, China Leowong Industry CO. LTD, Cosmo Films, Dupont, Etec Creation CO. LTD, Fspg Hi-Tech CO. LTD, and others. The companies are expected to focus on product differentiation over the forecast period. These players have been focusing on developmental strategies, such as contracts, mergers & acquisitions, expansions, and divestments which have helped them expand their businesses in untapped and potential markets.
In Global synthetic paper, market segmentations are made on the basis of
- Others (PVC and PET)
- Paper Bags
- North America
- Asia Pacific
- South America
- Middle East & Africa
This market is geographically divided into North America, Europe, Asia Pacific and Rest of the world. North America is the biggest contributor to Global Synthetic Paper market.
The Asia Pacific is estimated to account for 30.3% of the global market share by 2025, on account of the rising urbanization, growth in cost per package, sustainability, and the improving consumer lifestyle in emerging economies of China and India.
The low prices of the product in Central and South America as compared to other regions has triggered the regional demand. Furthermore, advertising on outdoor panels, public transports, and taxis in Brazil is expected to drive the market.
Wrap-around labels are used widely in beverage packagings such as functional drinks and fruit juices which is expected to drive the growth of the label industry in North America, thus positively affecting market growth.
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