Synthetic Paper Market is expected to grow at a CAGR of 8.1% during 2019-2027

The global synthetic paper market accounted for US$ 630.0 Mn in 2018 and is expected to grow at a CAGR of 8.1% during the forecast period 2019-2027, to account to US$ 1,244.5 Mn by 2027.

Synthetic papers are defined as eco-friendly opaque plastics that are composed of polybutylene, polypropylene and polyethylene. The synthetic paper possess excellent performance qualities such as a tear, water and grease resistance and are therefore used in a number of applications of labeling and non-labeling that has helped the expansion of the synthetic paper market globally.

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In 2018, the non-label application segment contributed to the largest market share in the global synthetic paper market. The growth of the non-label application segment is mainly attributed to the increase in demand of synthetic paper for various non-label applications including maps, charts, banners, graphics, lifeguarding manuals, boating books, children's books graphics among others. Moreover, increasing awareness among the people in the developing region such as the Asia Pacific has stimulated the use of synthetic paper due to its recyclability and environment friendliness and has favored the synthetic paper market globally. There is a significant growth in the demand by a non-label application for printing pamphlets and banners for various promotional activities, which is also boosting the growth of the synthetic paper market. Synthetic paper meets out the environmental requirements and does lead to pollution. Therefore, they are largely adopted by companies offering sustainable solutions.

The governments in the Asia Pacific region are taking initiatives to boost sustainable packaging solutions. For instance, in India, the packaging of food materials and other edibles are administered by the Ministry of Health and Family Welfare under the Prevention of Food Adulteration Act, 1954. The act states that the materials used for packaging must conform to the requirements of the Bureau of Indian Standards.

Some of the players present in the global synthetic paper market are Agfa-Gevaert Group, American Profol Inc., Arjobex SAS, Cosmo Films Limited, Hop Industries Corporation, NAN Ya Plastics Corporation, PPG Industries Inc., Toyobo Co. Ltd., Transcendia, Inc., and Yupo Corporation, among others.

The overall global synthetic market size has been estimated using both primary and secondary source. The research process started with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the synthetic paper market. Also, multiple primary interviews were conducted with industry commentators and participants in order to validate analysis and data. The participants who typically participate in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the synthetic paper market.

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