Global Synthetic Paper Market to Reach US$338 mn by 2020, Gains Momentum from Rising Usage in Tags and Label
Transparency Market Research (TMR) has recently published a study on the global synthetic paper market, projecting the market to rise at a CAGR of 7.0% during the period from 2014 to 2020 and increase from a total value of US$212.7 mn in 2013 to an estimated value of US$338 mn by the end of the forecast period.The research report, titled “Synthetic Paper Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” further states that in 2013, the total volume produced in this market was 105.3 kilo tons.
Synthetic papers are paper-like films made up of plastic or synthetic resins and contain the characteristics of both paper and plastic. Mostly, these papers exhibit chemical resistance as well as good printability, but in certain cases they are heat-proof and tear resistant too. However, the feel, appearance, and the opacity of a synthetic paper are similar to any normal paper. The increasing usage of synthetic paper in tags and labels, owing to its durability, has boosted the global market for synthetic paper significantly.
The report studies the global synthetic paper market on the basis of product, application, and the regional spread of this market. Based on the product, the market is classified into high-density polyethylene (HDPE), biaxially oriented polypropylene (BOPP), and other products such as polystyrene and polyesters. The BOPP segment led the overall market with a share of more than 60% in 2013.
By application, the market is categorized into the label segment and the non-label segment. Among the two, the non-label segment emerged as the market leader, holding a share of almost 60% in the overall market in 2013.
On the regional basis, the report has segmented the global synthetic paper market into Europe, Asia Pacific, North America, and the Rest of the World. Asia Pacific acquired the leading position in the overall market with a share of more than 35% in 2013. The regional market is expected to maintain its lead during the forecast period owing to the rising demand for these papers in the chemicals and cosmetics industries.
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Europe also witnessed significant growth in the demand for synthetic paper in 2013. However, the inadequate supply of raw materials in this region, together with the constant economic crisis, is projected to restrict the Europe market for synthetic papers to grow steadily in the coming years.
The markets for synthetic paper in North America and the Rest of the World collectively accounted for a share of around 33% in the global market in 2013, states the market study.
As per the study, the global synthetic paper market is highly consolidated with top three participants accounting for a majority share. American Profol Inc., Agfa-Gevaert N.V., Taghleef Industries L.L.C., A. Schulman Inc., Hop Industries Corp., Masterpiece Graphix, DuPont, Charter NEX Films Inc., Nan Ya Plastics Corp., Arjobex Security, Yupo Corp., and PPG Industries Inc. are the major international synthetic paper producers, profiled in this market report.
The global synthetic paper market is segmented into:
Biaxially oriented polypropylene (BOPP)
High-density polyethylene (HDPE)
Others (Polyesters, polystyrene, etc.)
Rest of the World (RoW)