DUBAI, U.A.E, Aug. 5, 2020 /PRNewswire/ -- The synthetic paper market is slated to expand impressively between 2020 and 2030, according to projections put forth by Future Market Insights.
The popularity of synthetic papers is increasing due to its potential benefits over conventional pulp-based paper. Synthetic papers are also imbued with film properties, making them effective barriers to external agents. Like films, synthetic papers are grease, tear and water resistant. Additionally, they have a tough texture, thus supporting high quality printing.
Its usage has been documented across the healthcare sector for making tags and patients' wristbands, as well as in nurseries, lumber tags and miscellaneous horticultural products. They have also been utilized to create billboards and signage. Such extensive usage is primarily driven by the fact that synthetic papers can withstand extreme environmental conditions.
A major uptick of synthetic paper usage has been observed in the publication sector, with publishers exploring options enhancing durability of books and other forms of printed literature.
"Market players are capitalizing on the go-green trend among end-users to accelerate the production of synthetic papers for a range of end-uses," infers the FMI analyst.
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Key Takeaways from FMI's Synthetic Papers Market Study
- Biaxially Oriented Polypropylene (BOPP) synthetic papers will constitute the major raw material
- Printing segment to register the maximum growth across the forecast period
- Asia-Pacific will dominate the global synthetic paper market, followed by Middle East & Africa
- Pharmaceutical industry to registered heightened usage of synthetic paper-manufactured RFID tags
Synthetic Papers Market- Key Trends
- Environmental sustainability concerns are driving up usage of synthetic papers across key industrial verticals
- The recycled nature of synthetic papers makes it highly suitable across the packaging industry
- High demand for packaging across food packaging and cosmetics are also feeding synthetic paper market growth
- Synthetic papers are also being used as UV-inhibitors for outdoor applications
Synthetic Paper Market- Region-wise Analysis
- Asia-Pacific shall pivot the global synthetic paper market growth, with major demand stimulated from India and China
- Growth in North America is underpinned by surging demand from various end-uses industries in the U.S
- Abundant presence of resources to catapult growth in the Middle East and Africa
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Synthetic Papers Market- Competitive Insights
The global synthetic papers market is highly competitive, characterized by the presence of a multitude of market players. Some well-known players in this landscape are: Seiko Epson Corporation, Hop Industries Corporation, Cosmo Films Ltd., Toyobo Co. Ltd., American Profol Inc., Transilwrap Company, Inc., etc.
These players are concentrating on new product launches to acquire a competitive edge. For instance, Profol Inc. manufactures the CPVac family of polyolefin-based films for vacuum packaging for enhancing the quality of meat and fish, the ProFoil metallized cast polyolefin film for barrier bags and the ClearTough polypropylene-based film.
Similarly, Transilwrap Company Inc., manufactures synthetic paper-based films for the electronics, solar power generation, healthcare, commercial printing, document archiving, card & security ID, sport boards, industrial packaging, general packaging, folding cartons & envelope windows and print finishing sectors among other application areas. Examples of its products are Transpaque II and Transalloy P-300.
Synthetic Paper Market Taxonomy
- Biaxially Oriented Polypropylene (BOPP)
- High Density Polyethylene (HDPE)
- Paper Bags
- Rest of Latin America
- Rest of APEJ
- Nordic Countries
- Rest of Western Europe
- Rest of Eastern Europe
Middle East & Africa
- South Africa
- North Africa
- Rest of MEA
- New Zealand
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Get Valuable Insights into Synthetic Paper Market
Future Market Insights' synthetic paper market offers refined forecasts pertaining to revenue growth witnessed across various segments. Trends impacting the market's trajectory across these segments are also studied in detail for a period between 2020 and 2030. The report offers an unbiased analysis of the prominent growth dynamics by providing both qualitative and quantitative insights, enabling stakeholders to identify green spaces and revenue expansion prospects in the aforementioned forecast period.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE Future Market Insights