Global demand for synthetic paper to surpass 177000 tons by 2020

24-Feb-16

Global demand for synthetic paper, pegged at 116000 tons in 2013 is estimated to surpass 177000 tons by 2020 with market revenues estimated to grow to around US$343 mln, as per Grand View Research. Food & beverage labeling is a prime application of the market. Therefore, expansion across this application can trigger market growth. Folding cartons and blister packaging are the new-found uses of synthetic paper. Synthetic paper possesses strength, superior graphic qualities, and resistance to pilferage. All these characteristics make it perfect for use in blister packaging. Fluctuations in the prices of basic raw materials like polybutylene, polypropylene, and polyethylene may restrain the synthetic paper market. The global market is split into products, applications, and geographies. Product categories are BOPP (Biaxially Oriented Polypropylene), HDPE (High-Density Polypropylene), and others. Others include polyester and polystyrene. BOPP, exceeding revenues US$120 million, was the dominant product in 2013. It is expected to continue its dominance, with a CAGR of 7% during 2014 to 2020 (forecast period). Applications of the synthetic paper market comprise label and non-label. Non-label occupied considerable shares in 2013 accounting for volumes worth 71000 tons. This was attributed to non-label category’s superior print qualities that are ideal for making maps, charts, banners, and graphic arts. Label applications encompass stack, wraparound, pressure sensitive, in-mold, and shrink. Surge in the industries of household goods, packed foods & beverages, invitation cards, and visiting cards should propel demand for this category. Geographical segmentation is done on the basis of four regions. These encompass Europe, Asia Pacific, North America, and Rest of the World (RoW). Asia Pacific led the market in 2013. China and India generate high demand from industries like chemicals, cosmetics, food & beverages, etc. Europe was the second-largest synthetic paper market in 2013. Notable global market participants are Arjobex America Mill, Nan Ya Plastic Corporation, Yupo Corporation, and Hop Industries.