Research Firm: $454.5 Million in Synthetic Paper by 2024

The global synthetic paper market is expected to reach $454.5 million by 2024, according to a new report promoted this week by Grand View Research Inc., San Francisco, Calif. Synthetic paper is an eco-friendly alternative to the conventional wood pulp based paper. The synthetic paper market includes some highly technically advanced paper producers and some businesses that are also specialty paper outlets that are part of the conventional paper supply chain. However, in many respects they can represent a growing competitive factor for conventional pulp and paper operations to consider.

Growing consumer awareness regarding utilization of environmentally friendly products and supportive government regulations are likely to propel growth over the forecast period and may represent a competition factor in marketing of synthetic vs. conventional paper.

Manufacturers have recently been involved in extensive R&D to produce the synthetic paper which is water and tear resistant, scuff resistant, and provides easy printability, according to the report. Technological advancement in printing technologies could also be likely to propel synthetic paper growth over the next eight years. Inkjet technology is one of the most popular printing techniques for synthetic paper.