Global Synthetic Paper Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Synthetic Paper Market Overview

"The Synthetic Paper Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

The use of synthetic resin derived from petroleum which offers similar qualities as that of wood pulp is called synthetic paper. Nowadays products made by combining regular paper and plastic film are also used as synthetic paper for various applications. The synthetic paper offers advantages such as water and tear resistance, UV resistance, superior print quality, and recyclability.

Rapid development in the printing and packaging industry is a major factor driving the growth of the global synthetic paper market. In addition, the increasing adoption of synthetic paper for various applications in sectors such as chemical, cosmetics, etc. is another factor further driving the growth of the global market. Increasing demand for synthetic paper for labeling from the pharmaceutical industry is expected to further drive the growth of the global market to a significant extent over the forecast period.

Fluctuating prices of crude oil are expected to hamper the growth of the global synthetic paper market. In addition, high cost as compared to conventional paper is another factor expected to hamper the growth of the global market over the forecast period. Technological advancements in the packaging industry and packaging technology coupled with increasing demand for eco-friendly products are expected to create lucrative business opportunities for major players in the global market over the next 10 years.

High manufacturing costs and fluctuating raw material prices are key factors hampering the growth of the Global Wireless Microphone Market. The current trend observed in the market is increasing demand for flexible wearables, smart watches, and flexible displays, which is another factor expected to further support the growth of the target market. The increasing adoption of flexible electronics in smart applications is expected to present lucrative business opportunities to major manufacturers and vendors in the global market over the next 10 years.

Asia Asia Pacific market dominates the global synthetic paper market in terms of revenue with a share of XX.X% and is expected to maintain its dominance over the forecast period. Rapid development in the packaging industry coupled with the presence of the major players in countries such as Japan, South Korea, and China is a major factor driving the growth of the Asia Pacific synthetic paper market. Low labor cost and increasing investments in eco-friendly products are other factors further driving growth of the Asia Pacific synthetic paper market.

The Europe synthetic paper market is expected to witness considerable growth over the forecast period. The North American synthetic paper market is expected to witness significant growth and is projected to register a CAGR of XX.X% over the next 10 years. This growth can be attributed to the increasing demand for processed food & beverages in this region.

Global synthetic paper market segmentation:

Segmentation on the basis of type:

• Biaxially-Oriented Polypropylene (BOPP)
• High-Density Polyethylene (HDPE)
• Others

Segmentation on the basis of application:

• Label
• Non-Label

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa