The global Synthetic Paper Market size is projected to witness striking growth in the forthcoming years. The outstanding characteristics of the product, like high durability, water resistance, oil and heat resistance, etc., drive the product application in various end-use industries like food and beverages, pharmaceuticals, etc. Fortune Business Insights™ has presented this information in an upcoming report titled, “Synthetic Paper Market, 2021-2028”.
The increasing product demand for application in packaging and labeling is likely to the main growth propellant. The rising application of PP synthetic paper for packaging food, hotel bathroom articles, etc., significantly contributes to the demand and drives the market growth.
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The global pandemic has inflicted a medium impact on the market growth for PP synthetic paper. The lockdown, social distancing norms, and curfews resulted in lower production and output levels. However, the demand for frozen and packaged food has significantly increased during the pandemic. This has helped to maintain a constant demand for synthetic paper for packaging and labeling by the food and beverage industry. The market is gradually gaining traction as several economies have eased their restrictions. The market is expected to gain steep momentum post-pandemic.
On the basis of type, the market bifurcates into non-waterproof PP synthetic paper and PP synthetic paper. On the basis of application, the market trifurcates into labels, paper bags, and printing. Geographically, the market is classified into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
- The report provides a holistic assessment of the prospected market.
- The report provides vital information on different market segments; type, application, etc.
- The report provides crucial information on drivers, threats, opportunities, new market entrants, etc.
- The report provides insights into the regulatory scenarios of the market.
- The report analyzes the impact of the COVID-19 pandemic and suggests strategies for future growth.
Drivers & Restraints-
Rising Consumer Awareness to Fuel Market Growth
The product features excellent attributes like water, dust, and tear resistance. These attributes surge the product application in packaging and labeling in the food and beverage, textile, and cosmetic industries. The rising product penetration and increasing demand for eco-friendly packaging due to rising environmental concerns are likely to drive the global Synthetic Paper Market growth.
The expanding e-commerce industry augments the demand for labeling and packaging consumer items. The increasing product application by the e-commerce industry is expected to complement market growth.
Additionally, the rising awareness regarding the benefits of synthetic paper over common natural paper is likely to fuel market growth in the forthcoming years.
The rising product demand for printing banners, posters, and other photo printing is anticipated to propel market growth.
However, the increasing market competition due to lack of supply is anticipated to hinder the market growth.
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Asia Pacific to Hold the Largest Share Due to Increasing Product Penetration
Asia Pacific is likely to hold the largest portion of the global Synthetic Paper Market share. The rising urbanization, increasing population, and improving living standards are anticipated to contribute to the market growth. Additionally, increasing product penetration in the food packaging industry is anticipated to bolster market growth.
North America is anticipated to rank second and possess a humongous share in the global market. The increasing awareness and adoption of non-toxic, eco-friendly packaging and the escalating demand for packaged and frozen food are likely to fuel market growth.
Europe is likely to witness significant growth in the forthcoming years. The existence of a humungous manufacturing hub is anticipated to foster market growth.
Rising innovations and favorable government regulations are projected to help the Middle East & Africa observe considerable growth in the forthcoming years.
Latin America is projected to witness sluggish growth due to the absence of a robust manufacturing base.
Key Players Focus on Expanding R&D Activities and Launching New Products
The fairly consolidated market comprises major players operating at global and regional levels. The market experiences stiff competition due to the presence of limited players in the global market. These players emphasize expanding their research and development activities to introduce new products and innovations in the market. They also focus on growing strategically through partnerships, mergers, expansions, collaborations, etc. For instance, Agfa-Gevaert Group collaborated with Fujitex Co. Ltd. in January 2019 to sell synthetic paper under their registered trademark called SYNAPS.
- May 2021: Cosmo Films launched a new non-tearable opaque synthetic paper. The product is specially designed for dangler applications.
Key Players in the Global PP Synthetic Papers Market are:
- HuanYuan Plastic Film
- DEP Ltd.
- PPG 산업
- 그는 거기에 있다
- 난 야 플라스틱
- 홉 산업
- 태그리프 산업
- 아메리칸 프로폴
- YIDU 그룹
- 지닝 러닝 페이퍼
- 상하이 지정
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