Synthetic Paper Market size worth USD 410.1 million by 2023: Global Market Insights Inc.
“Global synthetic paper market share is severely concentrated, with the largest player holding over 50% of industry share in 2015. Yupo Corporation is the industry leader, with Blue, UltraClear, Octopus, Reveal, and illuminate being prominent grades offere”
Market Size – $242.5mn in 2015, Market Growth – CAGR of 6.8%, Market Trends – Packaging & labeling industry growth coupled with regulatory norms to discourage deforestation
According to a new global report by Global Market Insights Inc. the Synthetic Paper Market size is anticipated to surpass 209 kilotons in terms of volume, it will grow at CAGR of 6.1% from 2016 to 2023. Regarding revenue, the market is likely to be worth USD 410.1 million by 2023. The report covers a comprehensive overview and predictive analysis of the market with segmentation by products, applications, and region. The report also gives an overview of drivers, restraints, opportunities and challenges that influence the industry.
Over the past few years, the global synthetic paper market growth has been linear, and this growth is projected to boost soon. With its high-quality characteristics, such as increased durability, high tear resistance, good slip & antistatic properties and high stiffness synthetic paper replaced the conventional cellulose paper and became a viable tool across several applications.
Innovative techniques and safety standards concerning its use are likely to impact the synthetic paper market trend. The market is witnessing significant growth owing to remarkable demand from regions including North America, Asia-Pacific, and Europe. Eco-friendly and recyclable products are encouraged on a regional scale. APAC with India and China mainly dominated the segment as the largest exporter and packaging market globally.
APAC regional revenue is projected to be worth USD 161.9 million at a growing CAGR of 7.3% over the forecast time frame, owing to a surge in demand across end-use industries such as food & beverages, cosmetics, and chemicals. High demand in APAC region attracts many companies to increase the capacity of their existing plants or to set up new plants in the area. North America segment can reach 45.8 kilotons demand by 2023.
The label application segment is the fastest growing segment and poised to register 80-kilo tons over the predicted time frame. Non-label applications accounted for the significant share of over 62% will increase over the predicted period.
Browse key industry insights spread across 80 pages with 49 market data tables & 14 figures from the report, “Synthetic Paper Market Size By Product (Biaxially Oriented Polypropylene [BOPP], High Density Polyethylene [HDPE]), By Application (Label, Non-label), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
The report features the competitive landscape of the market with the major trends, finance metrics, business strategies, and company profiles of the main market players. Yupo Corporation tops the industry, with other noteworthy names including UltraClear, Blue, Reveal, Octopus, and illuminate. PPG is another notable player apart from other remarkable companies such as DuPont, American Profol, Arjobex, Taghleef, Hop, Neenah Papers and Nan Ya Plastics Corporation.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.