The global synthetic paper market industry size is expected to surge at a CAGR of 6.2%. The market value is projected to increase from USD 1,002.7 million in 2023 to USD 1,724.6 million by 2032.
The market was valued at USD 937 million at the end of 2022. It is anticipated to exhibit y-o-y growth of 7.0% in 2023.
As per Future Market Insights (FMI), the market for synthetic paper is estimated to create an attractive incremental growth opportunity of USD 787.7 million in the next ten years. It is predicted to expand 1.8x times the current market value during the forecast period.
Synthetic paper meets specific regulatory requirements in various sectors. For instance, it can comply with food contact regulations, making it suitable for food packaging and labeling applications. It is hence expected to drive demand in the global market.
The initial cost of synthetic paper is often higher than traditional paper, however, its durability and longevity can result in cost savings over time. Synthetic paper's resistance to wear and tear reduces the need for frequent replacements, making it a cost-effective choice for several applications. Being a cost-effective material, its sales are anticipated to surge over the forecast period.
Synthetic paper has inherent chemical resistance properties, making it suitable for sectors where exposure to chemicals or solvents is common. It is expected to be extensively used for applications in laboratories, manufacturing facilities, and healthcare settings, thereby pushing demand.
One of the key advantages of synthetic paper is its resistance to moisture and water. This feature would make it ideal for applications where traditional paper would be damaged or compromised. A few of these include outdoor tags, labels, menus, and manuals that might come into contact with liquids.
A Few Key Trends Pushing Synthetic Paper Demand:
| Attributes | Key Insights |
|---|---|
| Synthetic Paper Market Estimated Size (2023E) | USD 1,002.7 million |
| Projected Market Valuation (2032F) | USD 1,724.6 million |
| Value-based CAGR (2023 to 2032) | 6.2% |
| Collective Value Share: Top 5 Companies (2022A) | 40% to 45% |
Exclusive Offer: 30% Off on Regional Reports
Get a free sample report and customize your regions for a 30% discount on your regional report!
The global synthetic paper industry witnessed a CAGR of 4.1% during the historical period. It stood at a market value of USD 937 million in 2022 from USD 765.1 million in 2017.
Synthetic paper, a versatile material made from plastic resin, holds significant value for market expansion globally. It mimics the appearance of traditional paper but offers distinct advantages such as tear resistance and durability. By utilizing synthetic resins such as polypropylene, polyethylene, and polyethylene terephthalate, synthetic paper meets the demand for a wide range of applications.
It is designed to resemble traditional paper in terms of appearance and functionality while offering additional benefits such as durability, moisture resistance, and tear resistance. Synthetic paper has gained high popularity due to its applications in printing, labeling, packaging, and other sectors backed by its unique properties.
In recent years, use of synthetic paper has continued to expand driven by advancements in manufacturing technologies and rising environmental concerns. It is often considered a more sustainable option compared to traditional paper as it is recyclable and requires fewer resources in its production.
Growing emphasis on digital printing technologies and need for high-quality, durable printing materials have also contributed to the market's expansion. Synthetic paper's ability to withstand various printing techniques, including offset, flexographic, and inkjet printing, has made it a preferred choice for several printing applications.
Growing Use of Synthetic Paper for Making Eco-friendly Banners
Key factors that might drive growth in the global market are increasing environmental concerns about deforestation and need for highly durable labels & tags in packaging applications. Synthetic paper is highly durable, hard to tear, and waterproof, which makes it a great labeling alternative, as compared to natural paper.
Regulations for packaging and labeling of consumer products require materials that are light in weight and have a limited impact on the environment. With surging marketing actions to endorse products and enhance brand visibility, the market for synthetic paper to make billboards, banners, stickers, and posters is increasing.
The global market is further anticipated to witness impressive growth with rising labels and tags application. Synthetic paper is used in a variety of label segments, including wrap-around labels, in-mold labels, and a multitude of pressure-sensitive labels.
Demand for labels & tags is growing at a remarkable rate due to the rapidly expanding retail and e-commerce sector. Need for product security would also boost demand for radio-frequency identification (RFID) labels. According to manufacturers of labels, synthetic paper is well suited to develop labels enabled with RFID technology.
Surging Use in Restaurants, Consumer Goods, and Electronics
Durable, waterproof, and tear-resistant synthetic paper is finding applications in the retail, hospitality, and manufacturing sectors. Large-scale printers and mail houses are remodeling current business applications, changing old ways of doing business. They are adopting new, efficient, and cost-effective procedures, including the use of durable products ideal for cost-saving, on-demand, and short-run production.
Manufacturers in the synthetic paper industry can gain lucrative opportunities in printing, display, and graphics applications. Elimination of laminating costs is expected to be a key driver boosting demand for synthetic paper for printing and graphics.
Leading restaurant chains are using synthetic paper for their menus as it makes them easy to clean and avoids replacement costs. Hospitals are also adopting synthetic paper to reduce the risk of delamination and contamination. Ability of synthetic paper to offer the same readability and durability in any environment is anticipated to increase synthetic paper sales in the next ten years.
Electronics and consumer goods companies are also expected to create high demand for synthetic paper in the foreseeable future. Washing machines, TVs, refrigerators, and other electronics products are labeled with synthetic paper due to their long life and capability to sustain in any environmental conditions.
| Country | United States |
|---|---|
| Market Share (2023) | 13.5% |
| Market Value (2023) | 11.0% |
| BPS Analysis | -240 |
| Country | China |
|---|---|
| Market Share (2023) | 14.3% |
| Market Value (2023) | 18.5% |
| BPS Analysis | 420 |
| Country | Japan |
|---|---|
| Market Share (2023) | 7.1% |
| Market Value (2023) | 8.0% |
| BPS Analysis | 90 |
| Country | India |
|---|---|
| Market Share (2023) | 6.7% |
| Market Value (2023) | 8.0% |
| BPS Analysis | 170 |
| Country | Germany |
|---|---|
| Market Share (2023) | 5.1% |
| Market Value (2023) | 4.5% |
| BPS Analysis | -60 |
Food Companies in the United States to Look for Synthetic Waterproof Paper
Synthetic paper is suitable for numerous food packaging applications offering enhanced strength and barrier properties. It is also tear-resistant, grease-resistant, and can withstand moisture & temperature variations.
According to USDA's Economic Research Service, agricultural, food, and corresponding sectors in the United States have contributed around USD 1.264 trillion to their GDP. It accounted for about 5.4% of share in 2021.
Sectors related to agriculture include food & beverage manufacturing, stores, services, textiles, as well as leather products, forestry, and fishing. Food expenditures are estimated to be 12.4% of the United States households’ spending in 2021, which is an upsurge from 11.9 % in 2020.
Percentage of household expenses on food was rated third after housing and transportation. Constantly evolving food sector of the country and rising food expenditures are expected to drive demand for synthetic paper. The United States synthetic paper industry is expected to record a CAGR of 4.1% and create an incremental opportunity of USD 64.1 million during the projected years.
Rising Export of Packaging Materials in India to Fuel Sales of Synthetic Paper Printing
According to India Brand Equity Foundation (IBEF), the flexible packaging sector of India covers the maximum market share, which is around 64%. The paper packaging sector has gained momentum due to rising demand for small packs, sachets, envelopes, and bags. This is attributed to its lightweight and cost-effective nature.
The paper and packaging sector in India is estimated to reach USD 204.81 billion by 2025, growing at a CAGR of 27.7%. India has also showcased growth in exports of packaging materials at a CAGR of 9.9% from 2021 to 2022.
Owing to growth in the paper packaging sector in India, the synthetic paper market is expected to record a CAGR of 8.6% during the forecast period. It is also likely to hold a market share of around 6.7% in 2023.
Non-tearable Synthetic Paper Made of Polypropylene (PP) to Experience High Demand
Polypropylene (PP) is widely used in synthetic paper production due to its excellent durability, chemical resistance, and high melting point. It offers good stiffness and tear resistance, making it suitable for applications that require robust and long-lasting materials.
PP synthetic paper is often used in applications such as outdoor signage, tags, banners, and maps. Synthetic paper manufactured from polypropylene is mainly used in offset printing, relief printing, screen printing, die cutting, drilling, and folding.
The PP synthetic paper segment is expected to hold around 50% of the global market share in 2023. Furthermore, the segment is estimated to offer an incremental opportunity worth USD 418.9 million during the forecast period.
Synthetic Paper for Inkjet Printers to Witness Surging Demand Globally
Synthetic labels & tags are an intelligent solution owing to their moisture resistance. Synthetic paper is also preferred for outdoor signage.
Billboard printing requires it to be exceptionally weather resistant as it is exposed to various conditions, and synthetic paper fulfills this necessity. The printing segment by application is expected to record a CAGR of 6.0% during the projected years between 2023 and 2032.
Check Free Sample Report & Save 40%!
Select your niche segments and personalize your insights for smart savings. Cut costs now!
Synthetic paper manufacturers are focused on maintaining and improving the quality of their products. This includes implementing robust quality control processes, conducting regular testing & analysis, and actively seeking feedback from customers to address any issues.
A few other companies are exploring opportunities to expand their presence in different regions and countries. This might involve setting up local distribution networks, establishing partnerships with regional players, and adapting their products to meet specific market requirements.
For instance:
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 1,002.7 million |
| Projected Market Valuation (2032) | USD 1,724.6 million |
| Value-based CAGR (2023 to 2032) | 6.2% |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2032 |
| Quantitative Units | Value (USD Million) and Volume (tons) |
| Segments Covered | Material, Thickness, Application, Region |
| Regions Covered | North America; Latin America; East Asia; South Asia & Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan & Baltic Countries; Middle East & Africa |
| Key Countries Covered | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, India, GCC countries, Australia |
| Key Companies Profiled | Yupo Corporation; Cosmo Films Ltd.; Avery Dennison Corp; Transcendia Inc.; Arjobex SAS (Polyart); NAN YA PLASTICS CORPORATION; Hop Industries Corporation; MGX Digital; Seiko Epson Corporation; LINTEC Corporation; MDV-Papier-und Kunststoffveredelung ; GmbH; Tamerica Products Inc.; PPG Industries, Inc.; Zodia Synthetic Paper; Haining Comax New Material Co., Ltd; Mianyang Prochema Commercial Co.Ltd |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
Rising export of packaging materials fuel sales in this market.
The market is estimated to secure a valuation of USD 1,002.7 million in 2023.
The market is forecast to register a CAGR of 6.2% through 2033.
Surging use in restaurants is the prominent driver.
Polypropylene (pp) is experiencing high demand worldwide.
| Estimated Size, 2024 | USD 6.4 billion |
|---|---|
| Projected Size, 2034 | USD 9.9 billion |
| Value-based CAGR (2024 to 2034) | 4.4% |
| Estimated Market Size (2024) | USD 338.2 million |
|---|---|
| Projected Market Value (2034) | USD 463.4 million |
| Value-based CAGR (2024 to 2034) | 3.2% |
| Market Size (2023) | USD 3,83,867.8 million |
|---|---|
| Projected Market Value (2033) | USD 5,73,705.45 million |
| Market CAGR (2023 to 2033) | 4.1% |
| Expected Market Value (2022) | USD 2.2 Billion |
|---|---|
| Anticipated Forecast Value (2032) | USD 3.5 Billion |
| Projected CAGR (2022 to 2032) | 4.75% |
Explore Paper Packaging Insights
View Reports
Synthetic Paper Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
