Synthetic Paper Market to Reach $1230.9 Million by 2028, Driven by Growing Demand in Packaging, Printing, and Labelling- By PMI

Prophecy Market Insights latest research report on the Synthetic paper market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market's size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.

| Source: PMI PMI

Covina, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Synthetic paper is a type of plastic-based material designed to mimic the properties of traditional paper while offering added durability and resistance to environmental factors. It is made from synthetic resins such as polypropylene (PP), polyethylene (PE), or polyester (PET) and is known for its tear resistance, water resistance, and resistance to chemicals.

Synthetic paper is commonly used for labels and tags in various consumer goods, including food and beverages, cosmetics, and pharmaceuticals. The need for high-quality, long-lasting labels is driving the demand for synthetic paper market.

Key Highlights

  • In November 2021, Agfa launches SYNAPS synthetic paper protected against bacteria and viruses on its surface. The agent is still in effect after synthetic paper has been printed on, and it also shields toner-ink covered print areas. Independent ISO 20743 and ISO 18184 testing have established its efficiency up to 99.99%.

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Market Dynamics

Drivers

  • The increasing demand for synthetic paper in various applications, such as packaging, printing, and labelling, is driving the growth of the synthetic paper market.
  • The growing awareness of the environmental benefits of synthetic paper is also driving the growth of the market.
  • The increasing demand for lightweight and durable packaging materials is also driving the growth of the synthetic paper market.

Challenges

  • The high cost of synthetic paper is a major challenge for the market.
  • The lack of awareness about synthetic paper is also a challenge for the market.
  • The competition from traditional paper is also a challenge for the synthetic paper market.

Market Segmentation

  • By Type: Biaxially-Oriented Polypropylene (BOPP), High Density Polyethylene (HDPE), and Others
  • By Application: Label and Non-Label
  • By Region: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Market Trends

The synthetic paper market is evolving rapidly, with several notable trends:

  • Sustainability: Environmentally-conscious consumers and businesses are embracing synthetic paper for its recyclability and reduced environmental impact.
  • Customization: Increasing demand for customizable designs and branding solutions has led to the development of synthetic papers with versatile printability.
  • Technological Advancements: Innovations in production processes and materials have opened new avenues for applications in the market.

Analyst View

Printing on synthetic paper has become simpler and more affordable because to developments in digital printing technology. Synthetic paper is becoming more widely used in a variety of industries thanks to its capacity to generate fine, full-colour prints. Outdoor banners and signage can be made using synthetic paper because of its resistance to UV radiation and moisture.

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Competitive Landscape

The prominent player operating in the global synthetic paper market includes

  • Yupo Corporation,
  • Nan Ya Plastics Corporation,
  • Arjobex SAS, PPG Industries,
  • Hop Industries Corporation,
  • American Profol Inc.,
  • MDV Papier-und Kunststoffveredelung GmbH,
  • Relyco Sales, Inc.,
  • Transilwrap Company, Inc.,
  • Seiko Epson Corporation,
  • Agfa-Gevaert N.V.

Future Outlook

The future of the synthetic paper market is bright, with a strong focus on innovation and sustainability. As consumer preferences continue to evolve, the demand for eco-friendly and customizable solutions is expected to drive the market's growth.

Conclusion

The synthetic paper market is expected to grow significantly in the coming years due to the increasing demand for synthetic paper in various applications, such as packaging, printing, and labelling. The growth of the market is also being driven by the growing awareness of the environmental benefits of synthetic paper.

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