Anticipated to witness a robust Compound Annual Growth Rate (CAGR) of 6.2%, the global synthetic paper market is set to experience remarkable growth, with its value projected to rise from US$ 1,002.7 million in 2023 to US$ 1,724.6 million by 2032.
Synthetic paper emerges as a versatile solution for various food packaging applications, offering heightened strength and exceptional barrier properties. Notably tear-resistant, grease-resistant, and capable of withstanding moisture and temperature variations, synthetic paper is positioned as a key player in the evolving landscape of food packaging. In the United States, the agricultural and food-related sectors have significantly contributed to the GDP, amounting to approximately US$ 1.264 trillion in 2021, constituting a 5.4% share.
With food expenditures making up 12.4% of U.S. household spending in 2021, a notable increase from 11.9% in the previous year, the demand for synthetic paper is anticipated to surge. As the United States synthetic paper industry is poised to register a Compound Annual Growth Rate (CAGR) of 4.1%, it is expected to generate an incremental opportunity of US$ 64.1 million in the coming years, propelled by the dynamic shifts in the country’s food sector and escalating food expenditures.
Request Sample Report Here: https://www.futuremarketinsights.com/reports/sample/rep-gb-12186
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.
Market Drivers-
- Sustainability and Eco-Friendly Packaging: The growing emphasis on sustainability and reducing the use of traditional plastic materials has driven the demand for synthetic paper, which is eco-friendly and recyclable.
- Durability and Weather Resistance: Synthetic paper offers superior durability, water resistance, and weather resistance, making it ideal for outdoor signage, labels, and packaging.
- Growth in E-commerce: The rise of e-commerce has increased the demand for durable and water-resistant packaging materials, which synthetic paper can provide.
- Digital Printing: The compatibility of synthetic paper with digital printing technologies has boosted its adoption for various applications, including labels, tags, and signage.
- Customization and Design Flexibility: Synthetic paper can be easily customized, offering design flexibility for branding and marketing purposes, making it attractive to businesses.
- Chemical and Moisture Resistance: The resistance of synthetic paper to chemicals and moisture is a key driver for applications in labels and packaging for products that require protection from harsh environments.
- Wide Range of Applications: Synthetic paper is used in a variety of industries, from packaging and labeling to maps, menus, and event banners, contributing to its versatility and market demand.
- Longevity: The longevity of synthetic paper, even in challenging conditions, makes it an appealing choice for products that require a longer shelf life or extended outdoor use.
The Key Players Are-
- Seiko Epson Corporation
- Agfa-Gevaert Group
- Yupo Corporation
- Arjobex SAS
- American Profol Inc.
- Hop Industries Corporation
- Relyco Sales, Inc.
- Transilwrap Company, Inc.
- MDV-Papier-und Kunststoffveredelung GmbH
- others
Applications of Synthetic Paper
1. Printing and Packaging
Synthetic paper has made its mark in the printing and packaging industry, offering versatility, durability, and high print quality. It is widely used for producing manuals, catalogs, posters, and packaging materials like labels, pouches, and bags.
2. Labels and Tags
The exceptional durability and water resistance of synthetic paper make it a preferred choice for labels and tags in various sectors, including retail, logistics, and horticulture.
Ready to Learn About Our Approach? Explore Our Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12186
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
