Synthetic paper offers durability, excellent chemical properties, high resistance to tear, and some other advantages. It is environment-friendly as it does not require wood pulp for its production. This is an attractive feature in today’s times wherein concerns about rampant deforestation prevail. Moreover, production of synthetic paper doesn’t emit toxic gases. This is a key demand driver of the synthetic paper market.
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Worldwide demand for synthetic paper was about 116 kilo tons in 2013. It would surpass 177 kilo tons by 2020. Market revenues could grow to around USD 343 million the same year. Food & beverage labeling is a prime application of the market. Therefore, expansion across this application can trigger market growth.
Folding cartons and blister packaging are the new-found uses of synthetic paper. Synthetic paper possesses strength, superior graphic qualities, and resistance to pilferage. All these characteristics make it perfect for use in blister packaging. Fluctuations in the prices of basic raw materials like polybutylene, polypropylene, and polyethylene may restrain the synthetic paper market.
The global market is split into products, applications, and geographies. Product categories are BOPP (Biaxially Oriented Polypropylene), HDPE (High-Density Polypropylene), and others. Others include polyester and polystyrene. BOPP, exceeding revenues USD 120 million, was the dominant product in 2013. It is expected to continue its dominance, with a CAGR of 7% during 2014 to 2020 (forecast period).
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Applications of the synthetic paper market comprise label and non-label. Non-label occupied considerable shares in 2013. It accounted for volumes worth 71 kilo tons that year. This was attributed to non-label category’s superior print qualities that are ideal for making maps, charts, banners, and graphic arts.
Label applications encompass stack, wraparound, pressure sensitive, in-mold, and shrink. Surge in the industries of household goods, packed foods & beverages, invitation cards, and visiting cards should propel demand for this category.
Geographical segmentation is done on the basis of four regions. These encompass Europe, Asia Pacific, North America, and Rest of the World (RoW). Asia Pacific led the market in 2013. China and India generate high demand from industries like chemicals, cosmetics, food & beverages, etc. Europe was the second-largest synthetic paper market in 2013. Notable global market participants are Arjobex America Mill, Nan Ya Plastic Corporation, Yupo Corporation, and Hop Industries.
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