The Synthetic Paper Market is estimated at USD 587 million in 2019 and is projected to reach USD 873 million by 2024, at a CAGR of 8.3% from 2019 to 2024.

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Browse 89 market data Tables and 42 Figures spread through 132 Pages and in-depth TOC on "Synthetic Paper Market by Raw Material (BOPP, HDPE), Application (Labels, Printing, and Paper Bags), End-Use Industry (Packaging, Paper), Region (North America, Europe, APAC, South America, Middle East & Africa) - Global Forecast to 2024".
Rising environmental concerns due to the use of wood pulp for the manufacture of paper, 100% recyclability, and rising applications for printing, and paper bags are expected to drive the synthetic paper market. Growing demand from the Asia Pacific region from end-use industries, such as paper and paper bags is also expected to fuel the demand for synthetic paper.
Based on raw material, the BOPP segment is projected to lead the synthetic paper market during the forecast period
The BOPP segment is projected to lead the synthetic paper market during the forecast period, owing to increasing demand for frozen food, packaging and labeling, business cards, calendars, book covers, newspapers, maps, and garments, among others. BOPP synthetic paper is widely used by various end-use industries due to enhanced properties, such as heat stability, water resistance, fatigue resistance, high tensile strength, and ease of printing. There is increased demand for synthetic paper from the Asia Pacific, North America, and Europe regions, owing to increasing applications in various end-use industries, such as paper, packaging, and others.
Based on end-use industry, the paper segment is expected to lead the synthetic paper market during the forecast period
Based on end-use industry, the paper segment led the synthetic paper market in 2018, owing to its enhanced properties which outperform the properties of pulp paper, such as 100% recyclability, moisture resistance, tear resistance, UV resistance, and durability.
The use of synthetic paper is comparatively greater in the paper industry than in any other sector. Increase in demand for durable tear-resistant, and excellent weathering properties for outdoor advertising by way of commercial prints, banners, signs, window displays, public relations, and media & entertainment, among others has triggered demand in this industry.
The Asia Pacific region is estimated to lead the synthetic paper market in 2019 and is also projected to grow at a high CAGR during the forecast period, owing to the increasing demand for synthetic paper from China, Japan, and India.
High demand from end-use industries, such as paper, packaging, food & beverages, cosmetics, pharmaceuticals, chemicals, and manufacturing is driving the growth of the synthetic paper market in these countries. Continuous industrialization and innovation in paper technology, and awareness regarding the printability of synthetic paper is leading to the increasing consumption of synthetic paper.

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Nan Ya Plastics Corporation(Taiwan), PPG Industries (US), Agfa-Gevaert Group (Belgium), Yupo Corporation (Japan), Arjobex SAS (France), American Profol (US), HOP Industries Corporation (US), Relyco Sales (US), Transilwrap Company, Inc. (US), Cosmo Films (India), Neenah Inc. (US), and Toyobo Co., Ltd (Japan), among others are the major players in the synthetic paper market.
These players have been focusing on developmental strategies, such as contracts, mergers & acquisitions, expansions, and divestments which have helped them expand their businesses in untapped and potential markets. They have also been adopting various organic and inorganic growth strategies, such as new product developments, acquisitions, and expansions, to enhance their current positions in the synthetic paper market.

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