The report "Global Synthetic Paper Market, By Type (Biaxially-Oriented Polypropylene (BOPP), High Density Polyethylene (HDPE), and Others), By Application (Label and Non-Label), and Region - Global Forecast to 2029" Global synthetic paper market is projected to grow from US$ 568.8 Million in 2020 to US$ 1230.9 Million by 2029. Increasing adoption of synthetic paper in printing and packaging industries across the globe, owing to its toughness and ability to support high-quality printing is major factor driving growth of the global synthetic paper market. Furthermore, rising demand for eco-friendly and energy efficient synthetic paper products is another factor boosting growth of the global synthetic paper market over the forecast period. Digital printing and technological advancements in packaging industry are expected to create lucrative growth opportunities for players in the global synthetic paper market.
• In June 2018, for instance, Yupo Corporation has launched YUPO GREEN synthetic paper made from biomass plastic resin, started with commercial printing applications and ultimately developed it for label applications.
Key Market Insights from the report:
The global synthetic paper market accounted for US$ 568.8 Million in 2020 and is projected to register a CAGR of 9.0 % over the forecast period. The market report has been segmented on the basis of type, application, and region.
• By type, the biaxially-oriented polypropylene (BOPP) segment accounted for major revenue share in 2018. Since it offers high strength, and clarity. It also makes them appropriable for ease of laminating, coating and printing packaging material such as for fruits, fast food, confectionery, snacks, and vegetables application.
• By application, the non-label segment is accounted for major revenue share in 2018, this is owing to its long lifespan there for increased use of the synthetic paper in banners, making maps, charts, and graphics.
• By region, Asia Pacific synthetic paper market accounted for major revenue share of the global synthetic paper market and is further anticipated to maintain its dominance over the forecast period. This is owing to rapid development in packaging industry and presence of major manufacturing industries in the countries of the Asia Pacific region. North America synthetic paper market accounted for second-highest market share, in 2018, owing to increasing demand for processed food and beverages in the countries of the region.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global Synthetic Paper Market”, By Type (Biaxially-Oriented Polypropylene (BOPP), High Density Polyethylene (HDPE), and Others), By Application (Label and Non-Label), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029
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The prominent player operating in the global synthetic paper market includes Yupo Corporation, Nan Ya Plastics Corporation, Arjobex SAS, PPG Industries, Inc., Hop Industries Corporation, American Profol Inc., MDV Papier-und Kunststoffveredelung GmbH, Relyco Sales, Inc., Transilwrap Company, Inc., Seiko Epson Corporation, and Agfa-Gevaert N.V.
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