Global synthetic paper market was valued at around $1.9 billion in 2018 and is projected to reach $ 2.6 billion by 2024
NEW YORK, Aug. 5, 2019 /PRNewswire/ -- Global Synthetic Paper Market By Type (Biaxially Oriented Polypropylene & High-Density Polyethylene), By Application (Label & Non-Label), By Region (Asia-Pacific, Europe, North America, South America & MEA), Competition, Forecast & Opportunities, 2024
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Global synthetic paper market was valued at around $1.9 billion in 2018 and is projected to reach $ 2.6 billion by 2024, exhibiting a CAGR of 5.7%. Growing demand for synthetic paper in both packaging and label industry on account of its properties such as exceptional printability, predictable convertibility, and a smooth surface for improved production is anticipated to propel growth in the market. Synthetic paper is basically an appropriate printing medium for indoor advertisements, posters, banners as well as other kinds of photo printing. The special layer of coating on the paper makes the image more colorful and attractive and exhibits resistance against chemicals, grease, folding and heat. This, in turn, increases its application in the development of toxic-free thermoforming products for food packaging.
The market for synthetic paper has been segmented into type, application and region.Among types, Biaxially Oriented Polypropylene (BOPP) segment is anticipated to lead the global market and account for a major share in the global market.
Based on application, the market is categorized into label and non-label.Synthetic paper is extensively used in non-label applications as it meets all the environmental requirements and does not cause pollution as it does not produce any toxic gases during the incineration process.
Thus, non-label application segment led the global market in 2018 and accounted for a market share of around 77%. While, the label application segment is anticipated to grow at the highest CAGR of 6% during forecast period.
Packaging & labeling and printing industries are the two major end user industries of synthetic paper. Their growth is driven by the rising affluence of the middle class in the developing countries, coupled with a rapid rate of urbanization which has led to a rise in the consumerism opportunities, such as a high demand for consumer goods and lifestyle services.
Regionally, the market has been segmented as North America, South America, Europe, Asia Pacific and Middle East & Africa.Among these regions, Asia-Pacific region holds the largest share for synthetic paper as it is one of the major consumers of synthetic paper and is expected to register fastest growth during forecast period as well.
This is due to increase in the usage of synthetic paper in the food & beverages industries in the region. Demand for synthetic paper is increasing in the developed as well as developing countries, such as Japan, China, Taiwan, India, Australia, and other countries in the Asia-Pacific region.
Some of the key players operating in the market include, Yupo Corporation, Nan Ya Plastics Corporation, PPG Industries, Seiko Epson Corporation, AGFA-Gevaert N.V., Arjobex SAS, American Profol Inc., HOP industries Corporation, Reylco Sales, Transilwrap, Company, Inc., MDV Papier- und Kunststoffveredelung GmbH, among others.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024
Objective of the Study:
• To analyze and forecast global synthetic paper market size.
• To forecast global synthetic paper market based on type, application and regional distribution.
• To identify drivers and challenges for global synthetic paper market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global synthetic paper market.
• To conduct pricing analysis for synthetic paper market.
• To identify and analyze the profile of leading players involved in the manufacturing of synthetic paper.
Some of the leading players in global synthetic paper market are Yupo Corporation, Nan Ya Plastics Corporation, PPG Industries, Seiko Epson Corporation, AGFA-Gevaert N.V., Arjobex SAS, American Profol Inc., HOP industries Corporation, Reylco Sales, Transilwrap, Company, Inc., MDV Papier- und Kunststoffveredelung GmbH, among others.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major players operating in global synthetic paper market.
The analyst calculated global synthetic paper market size using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Synthetic paper manufacturers and suppliers
• Government and other regulatory bodies
• Research institutes and organizations
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global synthetic paper market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Type:
o Biaxially Oriented Polypropylene (BOPP)
o High-Density Polyethylene (HDPE))
• Market, By Application:
o Label
o Non-Label
• Market, By Region:
o Asia-Pacific
Japan
China
India
Taiwan
Australia
South Korea
o North America
United States
Canada
Mexico
o Europe
Germany
United Kingdom
France
Italy
Turkey
o Middle East & Africa
Saudi Arabia
Iran
South Africa
UAE
o South America
Brazil
Argentina
Colombia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global synthetic paper market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
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