Synthetic Paper Market SWOT and PEST Analysis 2021-2031
The synthetic paper market size is projected to reach US$ 1,760.1 million by 2031 from US$ 884.3 million in 2023. The market is expected to register a CAGR of 9.0% in 2023–2031. The growing demand from the packaging and printing industries is likely to remain a key synthetic paper market trends.
Synthetic Paper Market Analysis
The demand for synthetic paper in the packaging industry is growing due to its superior durability and environmental benefits. Unlike traditional paper, synthetic paper is highly resistant to water, chemicals, and tearing, making it an ideal choice for packaging that needs to withstand harsh conditions during transportation and storage. This durability ensures that the packaging remains intact and legible, preserving the product's integrity and enhancing customer satisfaction. Moreover, synthetic paper's resistance to external factors significantly reduces the risk of damage, leading to cost savings in packaging replacements and improving overall supply chain efficiency.
Synthetic Paper Market Overview
The synthetic paper market is experiencing a significant growth-driven combination of its unique material properties, environmental benefits, and expanding applications across various industries. Its resistance to tearing, water, chemicals, and extreme temperatures makes synthetic paper ideal for applications where longevity and resilience are crucial. This is particularly beneficial in sectors such as printing, labeling, and outdoor advertising, where materials are often exposed to harsh conditions. For instance, educational institutions and businesses value synthetic paper for producing durable manuals and promotional materials, while outdoor advertisers rely on its ability to maintain vibrant colors and structural integrity under weather stress.
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Synthetic Paper Market: Strategic Insights
Market Size Value in US$ 630.0 Million in 2018 Market Size Value by US$ 1,244.5 Million by 2027 Growth rate CAGR of 8.1% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Synthetic Paper Market: Strategic Insights
| Market Size Value in | US$ 630.0 Million in 2018 |
| Market Size Value by | US$ 1,244.5 Million by 2027 |
| Growth rate | CAGR of 8.1% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Synthetic Paper Market Drivers and Opportunities
Surging Demand for Packaging Industry Bolsters Synthetic Paper Market Growth
The growing demand from the printing industry is a significant driver of the market, fuelled by the need for high-quality, durable printed materials. Unlike traditional paper, synthetic paper allows for vibrant colors and sharp images, which are essential for creating visually appealing and professional-looking printed products. This high print quality is particularly important for promotional materials, brochures, business cards, and other marketing collateral where first impressions matter. As businesses seek to enhance their branding and communication efforts, the ability to produce high-resolution and aesthetically pleasing prints on synthetic is a major advantage. Durability is another crucial factor driving the demand for synthetic paper in the printing industry. Printed materials often need to withstand frequent handling, exposure to moisture, and other challenging conditions without degrading. Synthetic paper's resistance to tearing, water, and chemicals ensures that printed documents remain intact and legible over time. This is especially valuable for products such as menus, manuals, maps, and educational materials that are subject to heavy use. The durability of synthetic paper reduces the need for frequent replacements, leading to cost savings for businesses and institutions that rely on printed materials. This long-lasting quality makes synthetic paper a preferred choice for many printing applications.
Increasing Focus on Environmental Sustainability
The increasing focus on environmental sustainability is a major driver of demand for synthetic paper as businesses and consumers become more conscious of their ecological footprint. Unlike traditional paper, which involves deforestation and high water consumption during production, synthetic paper is made from polypropylene or polyethylene, which are fully recyclable. This means that synthetic paper can be reprocessed and reused, reducing waste and conserving natural resources. Companies aiming to enhance their sustainability practices are increasingly opting for synthetic paper to align with their environmental goals, thereby driving market growth.
Synthetic Paper Market Report Segmentation Analysis
Key segments that contributed to the derivation of the synthetic paper market analysis are material and application.
- Based on the material, the market is segmented into biaxially oriented polypropylene films (BOPP), high density polyethylene (HDPE), polyethylene terephthalate (PET), polyvinyl chloride (PVC), and others. The biaxially oriented polypropylene films (BOPP) segment held a larger market share in 2023.
- In terms of application, the market is segmented into printing, labels and tags, packaging, and others. The printing segment held the largest share of the market in 2023.
Synthetic Paper Market Share Analysis by Geography
The geographic scope of the Synthetic Paper Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The Asia Pacific region is experiencing significant growth due to a combination of economic growth, industrial expansion, and increasing demand for high-quality, durable materials. The robust industrial base in China, Japan, and India is a significant factor driving the market growth. These countries have established themselves as manufacturing powerhouses, producing a wide range of goods that require reliable and durable labeling, packaging, and printing solutions. Synthetic paper, with its superior resistance to tearing, moisture, and chemicals, meets these needs, effectively driving significant demand in the industrial sector. Additionally, urbanization and rising disposable incomes have led to increased consumption of consumer goods, which in turn boost the demand for advanced packaging solutions. E-commerce, which has seen explosive growth in the region, further amplifies this need. Synthetic paper is highly valued in packaging for its integrity and appearance under various conditions, making it an ideal choice for retail and shipping purposes. Synthetic paper's durability and print quality enhance product presentation and brand visibility, which is crucial in a competitive market.
Synthetic Paper Market Report Scope
Synthetic Paper Market News and Recent Developments
The synthetic paper market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for synthetic paper and strategies:
- Today, Agfa announces the market launch of its SYNAPS Xerographic Matt (XM) synthetic paper that includes an agent which antagonizes the settlement and growth of bacteria and viruses on its surface. The agent remains active for the entire life of the synthetic paper and protects also print areas that are covered with toner ink. Its efficiency up to 99,99% has been proven through independent ISO 20743 and ISO 18184 tests. This new type of SYNAPS XM replaces the existing XM product range while fully preserving its excellent print quality, antistatic process behavior and universal printer compatibility. (Source: Agfa-Gevaert Group, Press Release, 2021)
Synthetic Paper Market Report Coverage and Deliverables
The "Synthetic Paper Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter's Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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