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. The major driving factors of the market include eco-friendly synthetic paper and wide application areas of synthetic paper.
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.
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The key players in the synthetic paper market are 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). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product development, and partnership, contracts & agreements between 2015 and 2020, to enhance their market shares and expand their global presence.
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.
Established in 1969, Yupo Corporation was formed with a 50/50 joint venture of Oji Paper Company, Ltd. (now Oji Holdings Corporation) and Mitsubishi Petrochemical Co., Ltd. (Mitsubishi Chemical Corporation). The company manufactures synthetic paper and synthetic paper processed products which can be used in multiple applications such as advertising / promotions, stationary / publications, packaging labels, security and for special purpose. The company also has its subsidiaries in Germany and US and its sales and distribution base in China, India and Thailand.
- In June 2019, Yupo Corporation developed its new synthetic paper which is manufactured from biodegradable plastic resin, which is used for label applications. These YUPO Green Synthetic paper is made from the sugarcane bagasse which is the substitute of conventional crude oil based paper. This development was an initiative from Yupo corporation has taken in regards to the sustainable development goal of the organization and to produce environmental friendly products.
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