Synthetic Paper Market size is expected to exceed 200 kilo tons with growth rate at over 6% from 2016 to 2023. Strict regulatory norms against deforestation results into high demand for conventional resources which may favor the market growth from 2016 to 2023.
Global demand for paper increased by 400% over last 40 years including 35% of paper produced by harvested trees. Its sustainable production along with recyclable nature will positively drive the market share in coming year.
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Global label and packaging market was valued at over $300 billion in 2015, and could exceed $400 billion in the next four years, with growth over 4%. These products are obtained through polymers such as polypropylene which are refined products of crude oil. Decline in crude oil prices will positively impact the synthetic paper market value. Growing demand for print and laminated material subject to high absorption property and positive outlook towards secure credential & Identity cards and e-passports application owing to water and chemical resistant property will further complement business growth in coming year.
|Synthetic Paper Market Size in 2015:||200 kilo tons|
|Forecast Period:||2016 to 2023|
|Forecast Period 2016 to 2023 CAGR:||6%|
|2023 Value Projection:||405 Million (USD)|
|Historical Data for:||2012 to 2015|
|No. of Pages:||80|
|Tables, Charts & Figures:||63|
|Segments covered:||Product and Region|
|Pitfalls & Challenges:|
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Biaxially oriented polypropylene was valued over $100 million in 2015 and may witness growth at over 6% through 2023. It offers high strength, clarity, and makes them appropriate for usage as packaging material such as for fruits, fast food, confectionery, snacks and vegetables application.
Superior biaxially oriented polypropylene offers ease of laminating, coating & printing to obtain desirable appearance and characteristics. Moreover, it is cost efficient along with excellent moisture barrier and superior strength properties when compared with other available alternatives. High density polyethylene synthetic paper market is set to reach over 70 kilo tons by 2023.
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Label segment is poised to exceed 50 kilo tons by 2023. It is used for stack labels, wraparound labels, shrink labels, in-mold labels and pressure sensitive labels. Non-label accounted for over 60 % of global synthetic paper market share in 2015. These products are primarily used for graphic arts, charts, banners and maps. It is also suitable for public and promotional print media.
Asia Pacific will exceed 150 million by 2023 with growth at over 7% during the forecast period. Increasing demand from industries such as food & beverage, cosmetics, and chemicals subject to change in lifestyle trend will further complement the synthetic paper market outlook in future.
U.S. market size is predicted to reach over 40 kilo tons by 2023. Growing banner ads demand in the region will favor the market revenue over forecast period. Banner ads investment reached USD 7.9 billion in 2013 from USD 6 billion in 2010. Moreover, Latin America contributed over 5% of share in 2015 and should witness a decent growth from 2016 to 2023. Europe was valued over USD 60 million in 2015 owing to increasing demand from food and beverage industry.
Global synthetic paper industry players include:
In this industry largest players holding half of the market share in 2015.This industry is concentrated in nature as largest players accounted for half of market share in 2015.
Synthetic paper is manufactured by utilizing synthetic resin, derived from petroleum. Its characteristics is like plastic film characteristics and its appearance is same as paper obtained from wood pulp. It is environment friendly in nature. It has long life and offers waterproof property. It can also be folded without cracking. Positive outlook towards label and packaging sector will drive the industry growth during forecast period.
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The above information is provided on a regional and country basis for the following: