Latest Research Report on Synthetic Paper Market begins with a deep introduction and then delves broad into specific segments such as raw material, application, end user, and region, policy study, value chain structure, and upcoming trends in particular segments or regions. The report on Synthetic Paper prepare a case for investments in different regions based on a practical view of their regulatory outline, manufacturing dynamics, and availability of skills and resources in that region.
The global Synthetic Paper Market size is anticipated to value at USD 1.3 billion by 2024. The market is subject to witness a substantial growth due to the growing environmental concerns and numerous initiatives taken by local governments coupled with rising need for packaging and labeling in packaged food & beverages. Numerous benefits offered by the use of synthetic paper include recycling and reduction in byproducts during manufacturing processes, are some of the key factors driving growth of the market in the present times. The adoption of the synthetic paper allows reusability over period of the time, while adoption of conventional paper cannot be recycled more than two to three times.
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Additionally, essential properties associated with synthetic paper includes water resistant, dust resistance, stress resistant, and heat resistant, thus fueling growth of the market in recent times. Globally, the synthetic paper market is predicted to grow at CAGR of 7.1% in forecast period, providing numerous opportunity for market players to invest for research and development in the synthetic paper industry.
The synthetic paper offers excellent physical properties such as resilience and high stress resistance coupled with along suitable chemical properties for various labeling services, thus boosting growth of the synthetic paper market in near future. Application of synthetic paper varies from packaging industry to chemicals industry. Increasing cost associated with crude oil is likely to hamper cost of PP and PE, leading to the rising in constraint for market growth. Additionally, increase in applications of synthetic paper and availability of raw materials are key factors restraining growth of the market.
The synthetic paper market is divided into regional market segment such as North America, Europe, Asia-Pacific, Latin America and Africa. Asia-Pacific region is predicted to hold major market share in the synthetic paper industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with blooming packaging industry due to substantial rise in the consummation of the packaged food and soft drinks.
The key players in the synthetic paper industry are PPG Industries, Arjobex Co., DuPont, American Profol Inc., Hop Industries Co., Taghleef Industries, Nan Ya Co., and Neenah Papers.
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