What is the global market size of Synthetic Paper Market?

Synthetic Paper Market size was valued at USD 1.01 Billion in 2021 and is poised to grow from USD 1.07 Billion in 2022 to USD 1.66 Billion by 2030, at a CAGR 5.6 % during the forecast period (2023-2030).

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 News

In December 2023, Cosmo Films launched metalized electrical grade BOPP films for capacitor applications. These films are used for capacitor manufacturing of various types of AC and DC capacitors. These capacitors have diverse applications ranging from electronics appliances, industrial applications, power electronics, automobiles, electric vehicles, renewable power systems, etc.
In October 2023, Cosmo Films announced the launch of its new business division – Cosmo Plastech. The company said the move aligns with its vision of offering a diverse range of packaging solutions to its partners for a wide array of FMCG products, providing enhanced supply chain efficiency.

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Synthetic Paper Market size was valued at USD 1.07 Billion in 2022 and is poised to grow from USD 1.13 Billion in 2023 to USD 1.75 Billion, at a CAGR of 5.6% during the forecast period (2024-2031).

Major market companies are using growth tactics to establish a firm foothold in the industry. In order to increase their regional presence and product range and satisfy the rising demand for synthetic paper from emerging nations, corporations have used a variety of techniques, including new product development, acquisitions and mergers, and growth. 'Yupo Corporation', 'PPG Industries, Inc.', 'Arjobex SAS', 'Agfa-Gevaert Group', 'Hop Industries Corporation', 'American Profol Inc.', 'Taghleef Industries Group', 'Nan Ya Plastics Corporation', 'Neenah Inc.', 'Transilwrap Company, Inc.', 'Relyco Sales, Inc.', 'Cosmo Films Ltd.', 'DuPont de Nemours, Inc.', 'Mitsubishi Polyester Film GmbH', 'Seiko Epson Corporation', 'Glatfelter Corporation', 'Polyplex Corporation Limited', 'HOPAX Fine Paper Co., Ltd.', 'Stora Enso Oyj', 'Hydrosol GmbH & Co. KG'

Synthetic paper offers a sustainable alternative to traditional paper made from trees. As the demand for environmentally friendly packaging solutions increases, synthetic paper finds applications in various industries such as packaging, labels, and printing, driving the growth of the synthetic paper market.

Increasing Demand for Sustainable Packaging: The market is experiencing a rising demand for sustainable packaging solutions due to growing environmental concerns. Synthetic paper, which is often made from recyclable or biodegradable materials, offers a sustainable alternative to traditional paper. This trend is driven by changing consumer preferences and the implementation of stricter environmental regulations.

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.

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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

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