(EMAILWIRE.COM, September 16, 2021 ) The global synthetic paper market size is projected to grow from USD 526 million in 2020 to USD 819 million by 2025, at a CAGR of 9.2% between 2020 and 2025. Synthetic paper is manufactured by using the synthetic resins such as biaxially oriented polypropylene films (BOPP), high-density polyethylene (HDPE) and others (polyvinyl chloride (PVC) and polyethylene terephthalate (PET)). Synthetic paper possess wide range of properties including resistance from oil, water, tear and chemicals which makes them suitable for various end use industries. Synthetic paper is used in label, printing and packaging applications.

The synthetic paper has been developed and advanced as a prominent substitute for the wood pulp based paper. Synthetic paper is manufactured using synthetic resins which are derived from petroleum as their main component. These offers properties of synthetic resins and basic characteristics of conventional paper to the substrate.

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Based on the raw materials, the BOPP segment is projected to be the fastest-growing element in the synthetic paper market during the forecast period. A major factor in this expansion is support by governments in the region to downstream industries which are seen as adding value to oil assets. PP resin production, film extrusion, flexible packaging and food processing are all industries targeted for expansion.
Based on the application, the printing segment is projected to be the fastest-growing element in the synthetic paper market during the forecast period. The market is expected to witness high growth as a result of the growing demand for suitable printing & increasing demand for packaging printing. Factors such as rapid industrialization and growing manufacturing industries across the globe drive the demand for printing segment.

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Based on the end-use industry, the packaging segment is projected to be the fastest-growing industry in the synthetic paper market during the forecast period. The packaging industry is developing and expanding day by day and. This growth is primarily driven by factors like growing pharmaceutical, food processing, manufacturing industry, FMCG, healthcare sector and ancillary in the emerging economies like China, India, Brazil, Russia and few other East European countries.

The market in APAC is the leading consumer of synthetic paper. The paper and packaging industry is growing in this region, which plays a key role in driving the demand for synthetic paper. Continuous developments by market players, including expansion and merger & acquisition, are expected to help the growth of the synthetic paper market. Several expansions are made to increase the production capacity of synthetic paper by manufacturers. In addition, growing awareness and the extraordinary properties of the material are expected to increase the overall market penetration.

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