Synthetic Paper Market is Projected to Reach at a US$ 1,724.6 Million by 2032 | FMI

The global synthetic paper marketindustry size is expected to surge at a CAGR of 6.2%. The market value is projected to increase from US$ 1,002.7 million in 2023 to US$ 1,724.6 million by 2032.

The market was valued at US$ 937 million at the end of 2022. It is anticipated to exhibit y-o-y growth of 7.0% in 2023.

As per Future Market Insights (FMI), the market for synthetic paper is estimated to create an attractive incremental growth opportunity of US$ 787.7 million in the next ten years. It is predicted to expand 1.8x times the current market value during the forecast period.

This positive trajectory underscores the growing demand for synthetic paper across various industries, fueled by its versatility, durability, and eco-friendly attributes. As businesses seek sustainable and innovative packaging solutions, synthetic paper emerges as a preferred choice, contributing to the overall expansion of the global synthetic paper market.

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As a flexible and resilient material created from plastic resin, synthetic paper holds considerable potential for global market expansion. While emulating the visual characteristics of traditional paper, it delivers distinct advantages, including tear resistance and enhanced durability. By incorporating synthetic resins like polypropylene, polyethylene, and polyethylene terephthalate, synthetic paper effectively addresses diverse application needs, contributing to its growing popularity across various industries.

For instance:

• In March 2022, Avery Dennison Corporation announced the acquisition of linerless label technology developed by Catchpoint Ltd, which is a company based in the United Kingdom.
• In April 2022, Lintec Corporation announced the development of glassine-based release paper with high smoothness and a reduction in plastic consumption.

Key Segments Covered in Synthetic Paper Industry Research

Synthetic Paper Market by Raw Material:

• BOPP
• HDPE
• Others (PVC and PET)

Synthetic Paper Market by Application:

• Printing
• Paper Bags
• Labels

Synthetic Paper Market by End-use:

• Paper
• Packaging
• Others (pharmaceuticals, cosmetics, food & beverages, and horticulture)

In conclusion, the synthetic paper market is expected to witness significant growth in the coming years due to the increasing demand for eco-friendly and sustainable packaging solutions and the growing printing and labeling industry. The market is highly competitive with the presence of several players who are focusing on developing new products and expanding their product portfolio. As synthetic paper offers several benefits such as durability, waterproofing, and tear resistance, it is expected to be the material of choice for various applications in the packaging, printing, and labeling industry.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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