Synthetic Paper Devices Market Set for CAGR of 8% by 2022

 

According to a report published this past week by Brisk Insights (U.K), the Global Synthetic Paper Devices Market is expected to grow at the CAGR of 8% during 2015-2022. The global synthetic paper market is segmented on the basis of types, applications, and geography.

The global synthetic paper market is driven by many factors such as growing adoption in various label and non-label application. Some of the other reasons for the growth of the market are an increasing trend of customized papers with advancement of technologies in pulp production and paper manufacturing. Growth in the Asia Pacific market is a large factor.

 

Many local and international players have emerged in the market. The high demand for synthetic paper in Asia Pacific, especially in China and Japan, is attracting a number of companies to set up their plants in this region or to increase the capacity of their existing plants. Some of the restraints faced by the industry are high cost of production and product. Synthetic paper prices are also dependent on crude oil, which is also a major restraint.

The application market for synthetic paper is segmented into labeled and non-labeled papers. During 2015, the labeled segment had the largest market share of all of the synthetic papers present in the market and it is expected that this segment will maintain its dominance in the diagnostic devices industries. North America holds the largest market share among the other regions, followed by Europe. It is estimated that North America and Europe together have 60% of the total market share followed by Asia Pacific. .

 

More information is available online.