The global synthetic paper market is expected to reach USD 454.5 million
by 2024, according to a new report by Grand View Research, Inc. Synthetic paper
is an eco-friendly alternative to the conventional wood pulp based paper. Growing
consumer awareness regarding utilization of environmentally friendly products
and supportive government regulations are likely to propel growth over the
forecast period.
Manufacturers have been involved in extensive R&D to produce the
synthetic paper which is water and tear resistant, scuff resistant, and
provides easy printability. Technological advancement in printing technologies
is also likely to propel its growth over the next eight years. Inkjet
technology is one of the most popular printing techniques for the synthetic
paper.
In depth research report
on Synthetic Paper Market
Further key findings from
the report suggest:
•
BOPP segment dominated the global synthetic paper market and was over USD
140.0 million in 2015. Cost effectiveness and superior properties are likely to
propel its growth over the forecast period. The HDPE segment is expected to
witness significant growth on account of its growing utilization for labeling
in numerous industries.
•
Non-label application was valued at over USD 150.0 million in the global
market in 2015. The label application was estimated to grow at a significant
pace owing to stringent government regulations regarding food & beverage
labeling, which is expected to lead to increased utilization over the forecast
period.
•
Asia Pacific dominated the market and was valued at over USD 90.0 million
in 2015. Growing manufacturing sector in the region has led to increasing
demand for the product from its applications. Japan, Taiwan, China, India, and
Australia are key economies leading to market growth. Many synthetic paper
manufacturers in North America and Europe have been focusing on expanding their
businesses in the region on account of low cost and availability of skilled
labor.
•
In October 2014, PPG Industries developed a new website for its TESLIN
substrate, which is a highly durable synthetic paper. This step has led to easy
accessibility of the product worldwide. Similarly, In November 2014, Tagleef
Industries acquired Derprosa Film. This move has helped the company to increase
its global reach. The company has been involved in R&D to develop the
innovative product to strengthen its market position. It has three
manufacturing facilities in the Middle East, two in Europe, one in the U.S.,
one in Australia, and distribution and sales center in Germany and China.
Grand View Research has segmented the global synthetic paper market on
the basis of product, application and region:
Global Synthetic Paper Product Outlook
(Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
•
BOPP
•
HDPE
•
Others
Global Synthetic Paper Application Outlook
(Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
•
Label
•
Non-Label
Global Synthetic Paper
Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
•
North America
•
U.S.
•
Canada
•
Mexico
•
Europe
•
Germany
•
UK
•
France
•
Italy
•
Asia Pacific
•
China
•
Japan
•
Taiwan
•
India
•
Australia
•
Latin America
•
Brazil
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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