The global synthetic paper market is
expected to reach USD 454.5 million by 2024, according to a new report by Grand
View Research, Inc. Synthetic paper is an eco-friendly alternative to the
conventional wood pulp based paper. Growing consumer awareness regarding
utilization of environmentally friendly products and supportive government
regulations are likely to propel growth over the forecast period.
Manufacturers have been
involved in extensive R&D to produce the synthetic paper which is water and
tear resistant, scuff resistant, and provides easy printability. Technological
advancement in printing technologies is also likely to propel its growth over
the next eight years. Inkjet technology is one of the most popular printing
techniques for the synthetic paper.
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Research :
Further key findings from the report suggest:
·
BOPP segment dominated the global synthetic
paper market and was over USD 140.0 million in 2015. Cost effectiveness and
superior properties are likely to propel its growth over the forecast period.
The HDPE segment is expected to witness significant growth on account of its
growing utilization for labeling in numerous industries.
·
Non-label application was valued at over
USD 150.0 million in the global market in 2015. The label application was
estimated to grow at a significant pace owing to stringent government
regulations regarding food & beverage labeling, which is expected to lead to
increased utilization over the forecast period.
·
Asia Pacific dominated the market and was
valued at over USD 90.0 million in 2015. Growing manufacturing sector in the
region has led to increasing demand for the product from its applications.
Japan, Taiwan, China, India, and Australia are key economies leading to market
growth. Many synthetic paper manufacturers in North America and Europe have
been focusing on expanding their businesses in the region on account of low
cost and availability of skilled labor.
·
In October 2014, PPG Industries developed a
new website for its TESLIN substrate, which is a highly durable synthetic
paper. This step has led to easy accessibility of the product worldwide.
Similarly, In November 2014, Tagleef Industries acquired Derprosa Film. This
move has helped the company to increase its global reach. The company has been
involved in R&D to develop the innovative product to strengthen its market
position. It has three manufacturing facilities in the Middle East, two in
Europe, one in the U.S., one in Australia, and distribution and sales center in
Germany and China.
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Research: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research has
segmented the global synthetic paper market on the basis of product,
application and region:
Global Synthetic Paper Product Outlook (Volume,
Kilo tons; Revenue, USD Million, 2013 - 2024)
·
BOPP
·
HDPE
·
Others
Global Synthetic Paper Application Outlook
(Volume, Kilo tons; Revenue, USD Million, 2013 - 2024)
·
Label
·
Non-Label
Global Synthetic Paper Regional Outlook (Volume,
Kilo tons; Revenue, USD Million, 2013 - 2024)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
o France
o Italy
·
Asia Pacific
o China
o Japan
o Taiwan
o India
o Australia
·
Latin America
o Brazil
·
Middle East & Africa
View Press
Release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-synthetic-paper-market
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and fact-based
research across a range of industries, from technology to chemicals, materials
and healthcare.
For
More Information: www.grandviewresearch.com
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