What Has Been the Growth of the Synthetic Paper Market So Far?
The synthetic paper market has seen considerable growth due to a variety of factors.
• In recent times, there has been a significant increase in the size of the synthetic paper market. The market, which stood at $1.17 billion in 2024, is projected to reach $1.24 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.6%.
Reasons such as the growth of the packaging industry, the rise in cost-effective solutions, heightened awareness about deforestation, and improvements in synthetic paper have all contributed to the growth during the historic period.
What Is the Forecasted Market Size and Growth Rate for The Synthetic Paper Market Size In The Coming Years?
The synthetic paper market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of synthetic paper is anticipated to experience substantial growth in the coming years. By 2029, it is set to expand to $1.57 billion at a 6.1% compound annual growth rate (CAGR). Factors contributing to this growth during the forecast period include the rise in e-commerce, the growing demand for food and beverage packaging, the expansion of the medical and healthcare sectors, and the increased demand in the textile industry. Key trends for the projected period consist of sustainable and environmentally friendly solutions, developments in digital printing, in-mold labeling (iml), and high-temperature applications.
What Factors Are Driving Growth In The Synthetic Paper Market?
The synthetic paper market stands to gain from the increasing growth of the e-commerce industry. The e-commerce sector, which primarily involves buying and selling of goods and services via an electronic network such as the Internet, significantly utilizes synthetic paper for the creation of e-commerce labels, tags, packaging, and various promotional items. Due to a rise in the preference for online shopping by businesses and individuals, a sturdy packing material like synthetic paper is in high demand. As an illustration, as reported by the U.S. Census Bureau, a US government agency, retail e-commerce sales in the US escalated to $291.6 billion in the second quarter of 2024, indicating a 1.3% upsurge from Q1 and 6.7% year-over-year. Total retail sales amounted to $1,826.9 billion, marking a 0.5% increase from Q1 and 2.1% from Q2 2023. Additionally, the Census Bureau revealed that in May 2023, estimated U.S. retail e-commerce sales surged by 7.8% from 252.8 million in 2022 to 272.6 in 2023. Hence, the rapid expansion of the e-commerce industry will stimulate the synthetic paper market. Another driver influencing the synthetic paper market is the escalating cosmetics industry. The cosmetic industry encompasses the manufacturing and selling of beauty products, including skincare, makeup, and personal grooming items. In this context, synthetic paper comes into play as a robust substrate for labels and packaging, offering resistance to moisture, chemicals, and tamper-proof seals. The Connecticut Tree Protective Association (CTPA), a UK-based non-profit organization, pointed out that color cosmetics units' sales stood at 118,172 units in 2022, a rise from 112,257 units in 2021. Therefore, the burgeoning cosmetics industry is set to bolster the synthetic paper market.
What Are The Main Segments Of The Global Synthetic Paper Market?
The synthetic paper market covered in this report is segmented –
1) By Raw Material: Biaxially-Oriented Polypropylene (BOPP), High-Density Polyethylene (HDPE), Polyethylene Terephthalate (PET), Polyvinyl Chloride (PVC)
2) By Thickness: Below 200 microns, 200 to 400 microns, Above 400 microns
3) By Application: Printing, Labels And Tag, Packaging, Other Applications
4) By End-User: Industrial, Institutional, Commercial And Retail
Subsegments:
1) By Biaxially-Oriented Polypropylene (BOPP): Transparent BOPP, White BOPP, Metalized BOPP
2) By High-Density Polyethylene (HDPE): Non-Printed HDPE, Printed HDPE
3) By Polyethylene Terephthalate (PET): Coated PET, Uncoated PET
4) By Polyvinyl Chloride (PVC): Flexible PVC, Rigid PVC
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What Trends Are Shaping The Synthetic Paper Market?
Leading companies in the synthetic paper market are focused on the development of ground-breaking solutions, like materials containing 30% post-consumer recycled HDPE polymer. This effort aims to drastically lower carbon footprints in contrast to conventional virgin polymers, assisting clients in achieving their sustainability goals. For example, in May 2023, Arjobex America Inc., a US-based synthetic paper company, unveiled a new series of synthetic papers, known as r-Polyart, that include 30% post-consumer recycled HDPE polymer. These have physical properties similar to traditional Polyart, with elements such as water and tear resistance, high strain at fracture, and resistance to chemicals. After usage, this material can be recycled, further advocating for sustainability.
Who Are the Key Players In The Synthetic Paper Market?
Major companies operating in the synthetic paper market are:
• PPG Industries Inc.
• DuPont de Nemours Inc.
• Nan Ya Plastics Corporation
• Seiko Epson Corporation
• Formosa Plastics Corp
• TOYOBO CO. Ltd.
• Neenah Inc.
• Jindal Poly Films Limited
• Agfa-Gevaert N.V.
• PaperWorks Inc.
• Cosmo Films Ltd.
• Sihl AG
• Transcendia Inc.
• Transilwrap Company Inc.
• YUPO Corp
• MDV Papier- und Kunststoffveredelung GmbH
• Nekoosa Coated Products LLC
• HOP Industries Corporation
• VALÉRON Strength Films Inc.
• Profol Americas Inc.
• ARJOBEX SAS
• Elastin International Corp
• Graytex Papers LLC
• Granwell Products Inc.
• B&F Plastics Inc.
What Is The Most Dominant Region In The Synthetic Paper Market?
Asia-Pacific was the largest region in the synthetic paper market in 2024. The regions covered in synthetic paper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
