Report ID: SQMIG15H2041
Synthetic Paper Market Size, Share, Growth Analysis, By Product(BOPP, HDPE, PET, and Others), By Application(Label, and Non-Label), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15H2041 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
63 |
Figures:
75
Synthetic Paper Market Regional Insights
Asia-Pacific segment dominated the market and generated 36.2% of worldwide revenue in 2023. Due to the rising demand in the printing and packaging, as well as pharmaceutical industries, the market for the item in Asia-Pacific was estimated to be worth approximately USD 389.2 million in 2022. Additionally, it is anticipated that over the projection period, the exponential growth of online shopping in the region will have a substantial impact on the development of synthetic paper.
The growing number of end-user sectors like pharmaceuticals, cosmetics, consumer goods, and also food and beverages are responsible for the growth in the Asia-Pacific region due to rising disposable income and an improvement in the standard of living of the working class in developing countries like China and India.
Additionally, North America contributed significantly to the market's revenue, which was valued at 22.9% in 2023. Wrap-around labels are being used more frequently in beverage packaging, not just for bottled water but also for fruit juices and health drinks. This is projected to propel the expansion of the label industry in North America and favorably impact the development of the synthetic paper market.
Synthetic Paper Market Report Snapshots
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