Synthetic paper is manufactured with the help of synthetic resins that are obtained using petroleum as a primary material. Synthetic paper offers similar quality to that of conventional paper that includes similar printing and processing capabilities along with opaque and white appearance. Global synthetic paper market is anticipated to rise with a CAGR of about 7% during 2016-2023. The market has been valued at $323.6 million by the year 2016 and is depicted to generate a total revenue of about $519 million by the year 2023. High consumption of adhesive film taps in labeling and taping is driving the synthetic paper market. Some other factors such as surging growth in labeling and packaging industries and increased demand for recyclable and sustainable products also helps to increase the  market growth. Furthermore, consistent growth in printing technologies and rising demand for synthetic paper in publishing industries has is one the major opportunities at hand for the market.

Synthetic paper base adhesive film taps are largely utilized in packaging, healthcare, paper printing, automotive, masking and other applications. Increasing utilization of synthetic paper based adhesive film taps in Asia Pacific has promoted strong growth of revenue in the market. Increasing adoption of adhesive taps to replace conventional fastening systems can be observed as a driving factor in the market. The overall market of adhesive taps was valued at around $47 billion in the year 2016 and is anticipated to rise at $ 69billion by the year 2023. Synthetic paper based taps are widely utilized across the globe among other adhesive taps. The growth in overall adhesive taps market is expected to directly impact the consumption of synthetic paper based adhesive taps in the upcoming years owing to increase in the revenue growth of synthetic paper market.

However specific requirements due to binding and printing issues of synthetic papers have been acting as a restraining factor in the market. Binding requirements of synthetic papers include stainless steel wires for saddle stitched binding procedure and rounded die cast holes for spiral binding procedure. This increases the cost of binding, hampering sales of synthetic paper in the market.

The market has been segmented the by type of synthetic papers and by applications of synthetic papers. On the basis of type of synthetic papers, the market has been classified as biaxially oriented polypropylene film (BOPP), high-density polyethylene (HDPE) and other types of synthetic papers. BOPP is estimated to be the leading market among other type of synthetic papers that is estimated to be above 60%. BOPP based synthetic papers are widely used in the packaging of food products such as biscuits and cookies, chips and snacks, candies and other food packaging. It is also largely utilized in manufacturing labels. On the basis of application, the market has been further bifurcated into label and non-label applications. The non-label application segment dominates the global synthetic paper market with a market share of above 60%, however the label applications has been anticipated to be the fastest growing market segment. The global synthetic paper market has also been analyzed on the basis of geographical regions. These regions include North America, Europe, Asia Pacific and rest of the world. Asia Pacific is depicted to be the fastest growing region due to high consumption of synthetic paper based products in countries such as China, Korea and others that have limited availability of conventional paper based raw material such as wood pulp. Increasing utilization of synthetic paper in food and beverage industries for packaging is also backing the growth in this region. In Europe, high demand for packaging in pharmaceutical sector drives the market growth. However, limited availability of raw material is expected to put a significant impact on the European market of synthetic paper in the near future.

Some of the major players in the synthetic paper market are Yupo Corporation, Seiko Epson Corporation, Nan Ya Plastics Corporation, AGFA-Gevaert N.V., PPG Industries Inc., Arjobex SAS, HOP Industries Corporation, DuPont, American Profol Inc., Transilwrap Company, Inc., Relyco Sales, Inc., Avery Dennison‏, MDV Group, Neenah Paper‏, Taghleef Industries and others. Companies are adopting the strategies like acquisition, merger, product launch etc. in order to sustain and expand in the market. Recently in the year 2016, Neenah Paper introduced an all-encompassing swatch book that will be used in the design and collection of swatch specialty papers. This tool with the new specification will integrate 15 specialty grades of premium papers for high end printing of collateral and luxury packaging. The swatch book has replaced previous version 1.0 and 1.1 swatch books that were released a year before.

Request for Sample