Synthetic Paper Market to Expand Significantly by 2020

The report  Synthetic Paper Market by Type (Bopp, HDPE, Others), by Application (Label, Non-Label), by Geography (Asia-Pacific, Europe, North America, Row)—Trends & Forecast to 2020, has been published by MarketsandMarkets, Pune, India. The global Synthetic Market is projected to reach $386.5 million by 2020, at a CAGR of 7.0% during the forecast period, 2015 to 2020.

Synthetic papers are made up synthetic resins, such as BOPP and HDPE and exhibit properties of both paper and plastic films. Synthetic papers show a number of properties, such as good opacity and high tensile strength, among others. The label application segment led the global Synthetic Paper Market in 2014 and accounted for a market share of 42%. The Asia-Pacific region led the global Synthetic Paper Market in 2014. The Asia-Pacific Synthetic Paper Market is expected to reach $156.3 million by 2020, at a CAGR of 7.5% during the forecast period.

 

The growth of the Asia-Pacific Synthetic Paper Market is due to increasing applicability of synthetic paper in various label and non-label applications. The consumption of synthetic paper in this region is mainly contributed by Japan, which is the largest manufacturer of synthetic paper in the Asia-Pacific region. The manufacturing sector in the Asia-Pacific region is mainly constituted by multinational companies who have good distribution networks, while a small share in the manufacturing sector is contributed by domestic manufacturers who concentrate in the local markets only. The growing demand for synthetic paper in this region has attracted many multinational companies to set up their plants in this region or to increase the capacity of their existing plants.

 In the rest of the world sub-segment, the Middle East synthetic paper market is expected to grow at the fastest CAGR during the forecast period due to availability of raw materials at cheap rates.

The application markets demand specific grades of synthetic papers, based on their types and features. Among applications, the label segment is the major application of synthetic paper and plays an important part for packaging purposes in many industries. The non-label application segment consists of a group of many small applications, such as paper packaging, maps, and covers, among others.

The U.S. and Japan are projected to lead the global synthetic paper market during the forecast period, while countries, such as Germany, China, France, the U.K., Taiwan, and India are projected to be other key markets for synthetic paper.

More information about this report is available online.