Synthetic paper is a synthetic resin derived from petroleum that offers similar qualities and more properties as that of wood pulp or regular paper.
Major factors driving growth of the global synthetic paper market are increasing demand for eco-friendly printing and packaging products and rapid development and technological advancements in printing and packing industries. Major factors hampering growth of the global synthetic paper market are high price of synthetic paper and fluctuating crude oil prices.
The global synthetic paper market is segmented on the basis of type, application, and region. On the basis of type, the global market is segmented into biaxially-oriented polypropylene (BOPP), high density polyethylene (HDPE), and others. The biaxially-oriented polypropylene (BOPP) segment accounted for highest market share in the global market and is expected witness significant growth over the forecast period.
On the basis of application, the global market is segmented into label and non-label. The label segment accounts for highest share in terms of revenue in the global market; whereas the non-label market is expected to witness significant growth over the forecast period.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market accounts for highest market share in the global synthetic paper market and is expected to witness highest growth over the forecast period. Increasing adoption of synthetic paper from various sectors and presence of major manufacturers and vendors in countries such as China, Japan, and South Korea are major factors driving growth of the Asia Pacific synthetic paper market. The market in Europe is expected to witness considerable growth over the forecast period.
Key players in the global market are Yupo Corporation, Nan Ya Plastics Corporation, Arjobex SAS, PPG Industries, Inc., Hop Industries Corporation, American Profol Inc., MDV Papier-und Kunststoffveredelung GmbH, Relyco Sales, Inc., Transilwrap Company, Inc., Seiko Epson Corporation, Agfa-Gevaert N.V., and other prominent players.