Global Synthetic Paper Market is Expected to Reach USD 1,358.37 Million from buzai232's blog

Global Synthetic Paper Market is Expected to Reach USD 1,358.37 Million

As per the report published by Fior Markets, the global synthetic paper market is expected to grow from USD 773.28 Million in 2018 to USD 1,358.37 Million by 2026, at a CAGR of 7.30% during the forecast period 2019-2026. The 100% recyclability, and growing applications for printing, and paper bags are expected to drive the global synthetic paper market.Get more news about Synthetic Paper Label,you can vist our website!
Synthetic papers are manufactured from the synthetic resin derived from petroleum as the main material. As a result the synthetic papers exhibit properties similar properties to that of plastic films. Synthetic papers were engineered to be durable like plastic and appear, feel and print like the traditional paper. Due to their tear-resistant, chemical-resistant, water-resistant and durability properties as compared to the paper, the synthetic papers are finding a wider acceptance in the pharmaceuticals, cosmetics as well as food & beverages industries for printing, packaging and labeling purposes. The 100% recyclability, and growing applications for printing, and paper bags are expected to drive the global synthetic paper market.
Even though the factors such as rising utilization in the pharmaceutical and food & beverages industries, superior printability and durability properties of synthetic paper along with the rapid growth of the packaging and label industry are driving the global synthetic paper market, the costlier price of synthetic paper as compared to the normal paper and volatility in the raw material prices are expected to restrain the market growth over the forecast period. Global emphasis rescuing the deforestation, rising acceptance of synthetic paper currencies, and increasing demand from the Asia Pacific region is anticipated to develop opportunities for the market growth in the upcoming years.
The BOPP segment emerged as the leader in the global synthetic paper market with USD 416.95 million revenue in 2018. BOPP papers are witnessing an increased demand due to their enhanced properties, such as heat stability, water resistance, fatigue resistance, high tensile strength, and ease of printing. BOPP papers are being utilized for varied purposes such as packaging and labeling of food products, printing of business cards, calendars, book covers, newspapers, and maps among others.
The paper segment dominated the global synthetic paper market with USD 453.22 million revenue in 2018. The superior moisture resistance, tear resistance, UV resistance, and durability properties make the synthetic papers suitable for the outdoor advertising in form of prints, banners, signs, window displays among others. As a result the paper segment is bound to witness an increased demand over the forecast period.

The Asia Pacific region emerged as the largest market for the synthetic paper with a 39.92% share of market revenue in 2018. Burgeoning demand from the end user industries such as packaging, food & beverages, cosmetics, pharmaceuticals coupled with the growing demand for the environmentally sustainable packaging products, led the Asia Pacific region to dominate the global synthetic paper market in 2018. Ready availability of the raw materials coupled with the steady demand from the outdoor publicity and food packaging industry are expected to propel the Middle East and Africa to grow at a robust pace over the forecast period.