Synthetic Paper Market Forecast, Size, Trends and Insights to 2030

Synthetic Paper Industry Overview

The global synthetic paper market size is expected to reach USD 1.7 billion by 2030, as per a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 5.5% from 2022 to 2030. Increasing awareness about climate change and the growing shift towards eco-friendly and recyclable packaging materials are expected to drive market growth.

Synthetic Paper Market Segmentation

Grand View Research has segmented the global synthetic paper market on the basis of product, application, and region:

Based on the Product Insights, the market is segmented into BOPP, HDPE, PET and Others.

• The BOPP product segment led the market and accounted for 57.5% of the global revenue in 2021. It is expected to witness a notable CAGR of 5.3% from 2022 to 2030 owing to the better strength offered by the material which makes them suitable for packaging perishable items such as snacks, fast food, vegetables, fruits, and confectionery. The superior properties exhibited by BOPP have resulted in its extensive use in the packaging of chemicals, textiles, cosmetics, and food and beverages.
• HDPE-based synthetic papers, majorly used in the packaging of powder, cheese, frozen food, and electronic parts, are expected to be the fastest-growing product segment over the forecast period, growing at over 6.1% from 2022 to 2030.

Based on the Application Insights, the market is segmented into Label and Non-Label.

• The non-labeling application segment led the market and accounted for approximately 60.0% of the global revenue in 2021. Exceptional durability and tensile strength to hold heavy items positions synthetic paper as a suitable material for non-labeling applications such as packaging.
• The convenience of fine printing over synthetic paper using ink and adhesives contributes to its higher demand in various industries. Ease of printability on the surface of synthetic papers contributes to its application in printing over the packaged item.
• The labeling application segment is also expected to witness a CAGR of 5.9% over the forecast period. The medical tags in the label application segment are expected to witness a CAGR of over 7.3% from 2022 to 2030. Medical tags are used in applications such as blood bags, test samples in pathological labs, test tubes, pharmaceuticals, medical devices, medical machinery, bottles, and first aid.

Synthetic Paper Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Key Companies Profile & Market Share Insights

Major market players are adopting growth strategies to get a stronghold in the market. New product development, merger and acquisition, and expansion are some of the strategies adopted by companies to enhance their regional presence and product offering to meet the growing demand for synthetic paper from emerging economies.

Some of the prominent players in the synthetic paper market include:

• Formosa Plastics Group
• SIHL Group
• B&F Plastics, Inc.
• Jindal Poly Films Ltd.
• Cosmo Films Ltd.
• Granwell Products, Inc.
• Transcendia, Inc.
• Valéron Strength Films
• Toyobo Co., Ltd.
• TechNova

Order a free sample PDF of the Synthetic Paper Market Intelligence Study, published by Grand View Research.