New Jersey, NJ, Jan. 17, 2020 (GLOBE NEWSWIRE) -- 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.
Market Outlook of the Synthetic Paper
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Raw Material Segment Analysis of the Synthetic Paper Market
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.
Application Segment Analysis of the Synthetic Paper Market
There has been a growing demand for the durable and superior quality prints for outdoor applications. Consequently, the printing segment is anticipated to grow at an accelerated CAGR of 9.59% over the forecast period.
End User Industry Segment Analysis of the Synthetic Paper Market
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.
Region Segment Analysis of the Synthetic Paper Market
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.
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Competitive landscape and key vendors
About the report:
The global synthetic paper market is analysed on the basis of value (USD Million) volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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