The global Synthetic Paper Market stood at around US$800 million and is likely to showcase a growth of around 7% during the forecast period.
A comprehensive overview of the global Synthetic Paper market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Synthetic Paper market globally. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the global Synthetic Paper market at regional and country levels. The global Synthetic Paper Market stood at around US$800 million and is likely to showcase a growth of around 7% during the forecast period.
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Market Overview
Increasing concern across the globe to promote sustainability in order to meet the target set on the global stage has resulted in the implementation of several stringent legislation on the country and international levels. Therefore, to comply with regulations companies across the globe are making effort to transition to a circular economy model. Industries like paper and pulp use millions of tons of wood raw materials each year, thereby promoting deforestation activities. Therefore, in the last few decades, synthetic papers have gained increasing traction among the industry stakeholders as they are produced using synthetic resins which are recyclable as well. Further, these papers offer various properties like water and chemical resistance, are non-tearable, and thereby are suitable for industrial applications. However, synthetic resins are produced using petroleum products, thereby fluctuation in crude oil prices would affect the industry performance as players operating in the market have to operate with low-profit margins.
The global synthetic paper market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By application, the market is primarily divided into:
· Printing
· Labels & Tags
· Packaging
· Others
Among these, labels & tags are likely to showcase substantial growth over the forecast period due to their increasing use in pharmaceutical, agricultural, and chemical applications. These industries required papers that are chemical resistant and handle various types of sterilization methods. As the synthetic paper has the properties to deal with such situations, thereby with the rise in these industries, the demand for synthetic paper would increase. Moreover, over the years, the e-retail industry has showcased robust growth and is likely to continue its performance majorly in developing economies, thereby increasing the demand for synthetic paper for packaging and labeling.
By end-user, the market is primarily divided into:
· Industrial
· Institutional
· Commercial/Retail
Among these, the industrial sector is among the largest consumer of synthetic paper and is likely to maintain its position during the forecast period. This can be attributed to the working environment of industries that demand non-tearable, water resistance, chemical resistance, offer quality printing, and feels like a conventional pulp-paper. Further, increasing penetration of the e-commerce industry is driving the demand for packaging and labeling products, thereby to meet the growing demand, the production of synthetic paper is likely to increase many folds during the foreseeable future. For instance, according to India Brand Equity Foundation, in 2022, the Indian e-commerce market is predicted to increase by 21.5%, reaching $74.8 billion, and is likely to touch the market size of $350 billion by 2030.
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Global Synthetic Paper Market Geographical Segmentation Includes:
· North America (United States, Canada, Rest of North America)
· Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, Rest of APAC)
· Rest of the World
Asia-Pacific accounted for a significant share in the global synthetic paper market and is expected to maintain its position in the market during the forecast period. The main reason behind this is the large base of industries like chemical, e-commerce, pharmaceutical, agricultural including agrochemicals, where the consumption of synthetic paper is high due to the requirement of water and chemical resistance paper product for printing, labeling, and packaging applications. Also, the large and growing regional population is further fueling the market growth of synthetic paper as with the increase in population demand for the various product from the industrial sector would increase thereby promoting the consumption of synthetic paper.
· PPG Industries Inc.
· Seiko Epson Corporation
· Agfa-Gevaert N.V.
· Yupo Corporation
· Arjobex SAS
· HOP Industries Corporation
· Relyco Sales Inc.
· Transcendia Inc.
· MDV Papier- und Kunststoffveredelung GmbH
· Cosmo Films Limited
Competitive Landscape
The degree of competition among prominent companies has been elaborated by analyzing several leading key players operating globally. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the global Synthetic Paper market. The major players have been analyzed by using research methodologies for getting insight views on market competition.
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Key questions resolved through this analytical market research report include:
· What are the latest trends, new patterns, and technological advancements in the global synthetic paper market?
· Which factors are influencing the global synthetic paper market over the forecast period?
· What are the global challenges, threats, and risks in the global synthetic paper market?
· Which factors are propelling and restraining the global synthetic paper market?
· What are the demanding global regions of the global synthetic paper market?
· What will be the market size in the upcoming years?
· What are the crucial market acquisition strategies and policies applied by the companies?
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