Global Synthetic Paper Market Estimated To Reach US$335 Mln By 2019

Global synthetic paper market estimated to reach US$335 mln by 2019

12-Jul-16

The global synthetic paper market was valued at US$234.2 mln in 2014, and is projected to reach US$335 mln by 2019, at a CAGR of 7.4% from 2014 to 2019, as per Micro Market Monitor. Incessant rise in demand of synthetic paper among varied end user applications and stringent environmental laws are factors influencing the overall consumption of synthetic paper.

Synthetic paper is an eco-friendly substitute for traditional cellulose paper. It is manufactured from synthetic resins that are derived from petroleum products. Synthetic paper is a film produced by extrusion, which mainly contains high amount of fillers. It has an opaque, white paper like appearance. Synthetic paper has all characteristics of natural paper made from wood pulp. It is not only printable and writable but also has characteristics, such as high tear resistance, increased durability, high stiffness, and good slip and antistatic properties.
The global synthetic paper market, along with its end products, has witnessed a linear growth in the past few years and this growth is estimated to increase in the coming years as well. Synthetic paper is an eco-friendly substitute for the traditional cellulose paper. It is manufactured from synthetic resins, which are derived from petroleum products. Synthetic paper is a film produced by extrusion and contains high amount of fillers. The synthetic paper has an opaque, white paper like appearance and possesses all the characteristics of natural paper made from wood pulp. It is not only printable and writable like cellulose paper, but also has characteristics such as high tear resistance, increased durability, high stiffness, and good slip & antistatic properties. Exclusive features of synthetic paper include high quality and increased efficiency that have created an upsurge in demand of these products in the market. Moreover, the upcoming safety regulations & innovative techniques for its use are key factors influencing the growth of the global synthetic paper market, with increased emphasis on various types and their applications. The global synthetic paper market is experiencing enormous growth due to widespread demand of synthetic paper from regions, such as Asia-Pacific, Europe, and North America as well as intense efforts being made at country level to promote environment-friendly and recyclable products. Considerable amount of investments are being made by various market players to serve the end user application industries in the coming years. The Asia-Pacific region dominated the global synthetic paper market in 2014, and has accounted for a market share of 39.2% in the same year. The region is further expected to progress during the forecast period, owing to the high growth potential of end user industries in China and India.
Among applications, the non-label segment led the global synthetic paper market in 2014 and accounted for a market share of 58.0%. The label application segment of the global synthetic paper market is predicted to be the fastest-growing segment during the forecast period, owing to the increased growth in the packaged food and beverages industry.