Synthetic Paper Market Size, Share, Trends, Growth and Forecast 2030

According to the report published by Zion Market Research, the global Synthetic Paper Market size was valued at USD 1,151.45 Million in 2022 and is predicted to reach USD 2,405.33 Million by the end of 2030. The market is expected to grow with a CAGR of 9.65% during the forecast period. The report analyzes the global Synthetic Paper Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Synthetic Paper Market industry.

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Key Insights:

• As per the analysis shared by our research analyst, the global Synthetic Paper Market is estimated to grow annually at a CAGR of around 9.65% over the forecast period (2023-2030)
• In terms of revenue, the global Synthetic Paper Market size was valued at around USD 1,151.45 Million in 2022 and is projected to reach USD 2,405.33 Million by 2030.
• Based on the Type, the HDPE, BOPP, and others segment is expected to lead the market, while the wheat segment is expected to grow considerably.
• Based on Application, the non-label and label segment is the dominating segment, while the domestic consumers segment is projected to witness sizeable revenue over the forecast period.
• Based on region, Asia Pacific is projected to dominate the global market during the estimated period, followed by European.

Global Synthetic Paper Market: Overview

The production of synthetic paper generally uses petroleum derivatives which include synthetic resins such as polypropylene and polyethylene. The synthetic paper looks same as regular paper but their characteristics resemble that of plastic films. As synthetic paper have superior physical and chemical characteristics they offer many and varied advantages over the ordinary paper. Synthetic papers are resistant to stains, oily substances, water, and most of the chemical products. They can withstand extreme cold and heat. Ultraviolet rays do not have any effect on the paper, thus making it ideal for the outdoor applications. The synthetic papers are eco-friendly, inorganic and less amount of byproducts are produced during its manufacturing.

Global Synthetic Paper Market: Growth Factors

The use of synthetic paper is not limited to the converting industry but is also utilized in the manufacturing of the children’s books, food label, and the packaging industry. The increasing application of the synthetic paper in different industries is the key factor that is driving the market. There is a rising demand for eco-friendly and energy efficient products, this is driving the growth of the market. But regular papers are used owing to its low price. The synthetic papers are generally manufactured using high-density polyethylene (HDPE) or biaxially oriented polypropylene (BOPP).

BOPP synthetic paper have high performance and stability and can be used in extreme conditions, thus they are used in a wide range. BOPP accounted for the largest market share in the global synthetic paper market. The printing and the finishing applications require qualities such as high-temperature resistance, strength, grease, chemical resistance, durability, and moisture which are present in synthetic papers; hence, their demand is increasing which is boosting the market growth.

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Global Synthetic Paper Market Dynamics

Key growth drivers 

The increasing global focus on environmental sustainability is a primary driver. As the world becomes more aware of deforestation and the environmental impact of traditional paper production, businesses and consumers are seeking alternatives. Synthetic paper, which is often recyclable and doesn't require wood, is positioned as an eco-friendly option. Another key driver is the expanding demand for durable and weather-resistant materials. Industries like packaging, labeling, and outdoor signage require materials that can withstand moisture, chemicals, and tearing. Synthetic paper's superior durability makes it ideal for these applications, including medical tags, industrial labels, and maps. The growth of the e-commerce sector also plays a significant role, as it has increased the need for robust packaging and labeling that can endure the rigors of shipping and handling.

Restraints 

One of the main restraints is the higher production cost of synthetic paper compared to conventional wood-pulp paper. The complex manufacturing process and the use of specialized polymers lead to a higher price per unit, which can be a significant barrier for some businesses, particularly small and medium-sized enterprises. Another major challenge is the fluctuation in raw material prices. Since synthetic paper is made from petrochemicals like polypropylene and polyethylene, its cost is directly influenced by crude oil prices. This volatility can lead to unpredictable production costs and make long-term planning difficult for manufacturers. There is also a notable lack of widespread recycling infrastructure specifically for synthetic paper, which, despite being a recyclable material, can pose a challenge to its overall environmental appeal and waste management.

Opportunities 

Significant opportunities exist in the development of new, bio-based and biodegradable synthetic papers. As companies seek to reduce their dependence on petroleum-based products, research and development in this area can open up new market segments. The growing demand for specialty applications in the healthcare and pharmaceutical industries presents another major opportunity, as synthetic paper is used for durable labels, patient wristbands, and medical charts where tear- and water-resistance are critical. The continuous advancement in printing technologies, such as digital printing, also creates opportunities by improving the compatibility and print quality of synthetic papers, making them a more attractive option for a wider range of high-end printing and advertising applications.

Challenges

One of the biggest challenges for the synthetic paper market is the competition from traditional paper and the shift towards digital media. Despite its advantages, traditional paper remains a low-cost, widely accepted option for many applications. Additionally, the increasing digitization of information and the trend towards paperless processes in many industries could limit the overall market growth for all paper-based products. Another challenge is the perception of synthetic paper as a plastic-based product, which can be a turn-off for some environmentally conscious consumers, despite its recyclability. The technical complexity of some high-end coatings and surface treatments required for specific applications can also be a hurdle, limiting the number of manufacturers who can produce these specialized products.

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Synthetic Paper Market: Segmentation

The global synthetic paper market is segmented into its type, application, and regions.All the segments of synthetic paper market have been analyzed based on present and future trends and the market is estimated from 2022 to 2030.

On the basis of Type, the synthetic paper market is segregated into HDPE, BOPP, and others.

Based on the Application, the market is categorized into non-label and label.

Geographically, the global market is diversified into North America, Asia-Pacific, Europe, and Rest of the World.

Synthetic Paper Market: Report Scope

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Synthetic Paper Market: Regional Analysis

The region that accounted for the largest market share is Asia Pacific region. It is mainly owing to its increasing demand from the industries such as packaged food and beverages and cosmetic. India, Japan, and China are the main consumers of the synthetic paper. The Middle East and Africa region also contribute a good share in the synthetic paper market. The factor that attributes to this growth is its increased use in the printing applications. There has been a tremendous growth in the utilization of the synthetic paper in the offset and xerography. European synthetic paper market is also growing owing to the presence of the key manufacturers of the synthetic paper in this region.

Recent Development

• In 2023, Arjobex SAS expanded its footprint in Europe’s synthetic paper industry through the acquisition of MDV Group, reinforcing its status as a leading producer of sustainable synthetic paper across the region.
• In May 2024, Industrial Opportunity Partners, a U.S.-based private equity firm specializing in manufacturing and distribution, acquired Transcendia, a company known for its synthetic paper and packaging solutions.

Synthetic Paper Market: Competitive Players

The key market players in the synthetic paper market include:

• Nan Ya Plastics Corporation
• Arjobex SAS
• Hop Industries Corporation
• Relyco Sales, Inc.
• Seiko Epson Corporation
• Agfa-Gevaert N.V.
• Yupo Corporation
• American Profol Inc.
• PPG Industries, Inc.
• Transilwrap Company, Inc.
• MDV Papier-und Kunststoffveredelung GmbH.

The Global Synthetic Paper Market is segmented as follows:

By Type 

• HDPE 
• BOPP 
• others 

By Application 

• non-label
• label 

Synthetic Paper Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Report Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.