Synthetic Paper Market to Worth $ 2.6 Billion by 2024
Increasing
demand for flexible packaging, outstanding
printability of synthetic paper and its eco-friendly and recyclable properties to boost global
synthetic paper market through 2024
According to a report
released at TechSci Research, “Global Synthetic Paper Market By Type,
By Application, By Region, Competition, Forecast & Opportunities, 2024” the global synthetic paper market stood at around $ 1.9 billion
in 2018 and is forecast to reach $ 2.6 billion by 2024, exhibiting growth at a
CAGR of 5.69% during the forecast period. Growth of the market is led by increasing
application of synthetic paper in different industries, such as printing, labelling,
and packaging. Synthetic paper is an appropriate printing medium for various indoor
advertisements, banners as well as other kinds of photo printing. Increasing awareness
about the use of synthetic paper and its applications has resulted in high rate
of adoption which in turn is attracting many private company players into the market
driving it to become highly competitive in the coming years. However, the cost
of the raw materials for developing synthetic paper products is high, which is
likely to hinder the growth of global synthetic paper market.
Browse market data Tables and Figures
spread through 110
Pages and an in-depth TOC on " Global Synthetic Paper Market"
https://www.techsciresearch.com/report/synthetic-paper-market/4004.html
The synthetic paper market can
be broadly segmented as type, application and region. Based on type, the market
has been categorized into Biaxially Oriented Polypropylene (BOPP) and High-Density
Polyethylene (HDPE). Further, based on application, the market for synthetic
paper has been segmented into label and non-label. Among these, the non-label
application segment led the global market in 2018 and accounted for a market
share of approximately 77%. While, the label application segment is anticipated
to grow at the highest CAGR of over 6% during forecast period.
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“Regionally, the market has been segmented as
North America, South America, Europe, Asia-Pacific and Middle East and Africa.
Among these, Asia-Pacific is anticipated to be the fastest growing
market for synthetic paper as it is one of the major consumers of synthetic
paper on account of increasing use of synthetic paper in food & beverages
industry in the region. Moreover, demand for synthetic paper is increasing in
developed as well as developing countries, such as Japan, China, Taiwan, India,
Australia, among others.” stated Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Synthetic Paper Market By Type, By
Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future
growth potential of global synthetic paper market and provides statistics and
information on market structure, size, share and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
to take sound investment decision. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in the global synthetic paper market.
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