Synthetic Paper Market worth $819 million by 2025, at a CAGR of 9.2%

Synthetic Paper Market worth $819 million by 2025, at a CAGR of 9.2%

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Synthetic Paper Market by Raw Material (BOPP, HDPE), Application (Printing, Paper Bags, Labels), End-use Industry (Paper, Packaging), and Region (APAC, Europe, North America, Middle East & Africa, South America)

The global synthetic paper market size is projected to grow from USD 526 million in 2020 to USD 819 million by 2025, at a CAGR of 9.2% between 2020 and 2025. Synthetic paper is manufactured by using synthetic resins which are derived from petroleum (primary material). Synthetic paper is preferred over conventional paper due to its excellent chemical & tear resistance, oil & moisture resistance, printability, heat sealability, durability, and high strength. These papers are used by various end-use industries, such as food & beverages, cosmetics, transportation, pharmaceuticals, chemical, and advertising. Synthetic paper is usually made up of BOPP, HDPE, and others which include polystyrene, polyamide, polyethylene, and polyvinyl chloride, among others. Resin selection plays major role in the attributes exhibited by different synthetic papers.

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Synthetic paper have micro pores on their surface which helps to increase ink adhesion over the surface on which printing is done. Synthetic paper offers enhanced properties which outperforms the properties of pulp paper which includes 100% recyclable, moisture resistant, tear resistant and UV resistant and durable. The use of synthetic paper is comparatively more in paper industry than in any other sector. Increase in the demand for durable tear resistant and excellent weathering properties of the outdoor advertising substrate has triggered the demand of this industry.

Printing is the largest preferred application for synthetic paper. Synthetic paper have the micro pores on their surface which enables better affinity for ink holding and provide high quality finish. As the synthetic paper has properties such as durable, tear resistance, water resistance, scratch resistant and abrasion resistant has made it an important substrate against the conventional paper. The demand of synthetic paper for printing applications has fueled due to increase in the demand for more durable and high quality print which can also be used for outdoor applications.

Rising population, growth in disposable income, rapid industrialization, and increased urbanization are driving the APAC synthetic paper market. The synthetic paper market in the region is mainly driven by various end-use industries, such as foods & beverages, cosmetics pharmaceuticals, chemicals, and manufacturing. The continuous industrialization and innovation in the paper technology, awareness regarding the printability has led to increase the consumption of synthetic paper in the above areas. China, Japan, Taiwan, and India are the main countries contributing towards the growth of the APAC synthetic paper market.

PPG Industries, Inc. (US), Seiko Epson Corporation (Japan), Agfa-Gevaert Group (Belgium), Yupo Corporation (Japan), Arjobex SAS (France), American Profol Inc. (US), Hop Industries Corporation (US), Relyco Sales, Inc. (US), Transilwrap Company, Inc. (US), MDV-Papier-und Kunststoffveredelung GmbH (Germany), Cosmo Films Ltd. (India), Neenah Inc. (US), Toyobo Co. Ltd. (Japan), Hwaseung Industries Co., Ltd. (South Korea), Innovia Films (UK), Nan Ya Plastics Corporation (Taiwan), Valeron Strength Films (US), Aluminium Feron GmbH & Co. KG (Germany), Huanyuan Plastics Film Co., Ltd. (China), Tamerica Products Inc. (US), Ruian Rifo Packaging Material Co., Ltd. (China), Kaveri Metallising & Coating Industries Pvt. Ltd. (India), Shijiazhuang Dadao Packaging Materials Co., Ltd. (China), Elastin International Corporation (Taiwan), Masterpiece Graphix (US) are some of the players operating in the global synthetic paper market.

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Agfa-Gevaert Group develops, produces and distributes a wide-ranging of analog & digital imaging systems and IT solutions, for the printing industry, healthcare sector and for specific industrial applications. It operates three business segments, namely, Agfa Graphics, Agfa HealthCare, and Agfa Specialty Products. The Agfa Specialty Products segment provides products, such as films for non-destructive testing & aerial photography, microfilms and films for the production of printed circuit boards. It also provides conductive polymers, materials for the manufacturing of high-security ID documents, membranes for hydrogen production, back sheets for solar panels, and synthetic papers (SYNAPS). The company has its distribution network across 40 countries and have its network of agents and representatives where it doesn’t have its own sales organization.

  • In January 2019, Agfa-Gevaert group and Fujitex Co., Ltd. which is an global trading company situated in Japan for distribution of synthetic paper under the trade name of SYNAPS, signed an agreement. The agreement includes the distribution of SYNAPS XM products as Fujittex has a strong hold on printer market.

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