The global Asia Pacific Synthetic Paper Market size is expected to reach USD 1,016.7 Million in 2028 and register a revenue CAGR of 8.8% over the forecast period, according to a latest report by Reports and Data. Investments by manufacturers in research development activities for production of innovative synthetic paper products designed for various applications with properties such as food contact, biodegradability, security, and extended thermal exposure are driving market revenue growth. In addition, increasing demand for synthetic paper from various industries such as pharmaceuticals, packaging, and cosmetics and personal care products is expected to boost market revenue growth during the forecast period.
Synthetic paper is utilized in a wide range of applications due to its versatility, print quality, durability, and compatibility, and in many cases, greater cost efficiency. Ability of synthetic paper to absorb ink, toner, and laminate film for high-quality commercial printing and labeling is anticipated to drive revenue growth of the market during the forecast period.
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Top Players in the Global Asia Pacific Synthetic Paper Market:
PPG Industries, Inc., Seiko Epson Corporation, Agfa-Gevaert N.V., Yupo Corporation, NAN YA PLASTICS CORPORATION, Polyart (Arjobex), Profol Americas, Inc., Cosmo Films Limited, Neenah Inc., and Toyobo Co., Ltd.
Some Key Highlights From the Report
- In January 2021, Agfa announced launched SYNAPS XM110 as the latest addition to its SYNAPS synthetic papers portfolio. With its thickness of 100 microns, it represents the thinnest type of SYNAPS XM and meets requirements for applications such as ticketing and signage. It can be printed on all common dry toner printers and multi-functional office printers with standard print settings as for standard office paper. Together with its antistatic treatment to prevent paper jams, it allows facility managers of offices and shops to quickly and efficiently produce customized COVID-safety signage without the need for time and energy consuming lamination.
- Biaxially Oriented Polypropylene (BOPP) Films segment is expected to account for largest revenue share in the global Asia Pacific Synthetic Paper Market over the forecast period, owing to its superior printability and performance properties. BOPP films provide excellent moisture and its metallized variant provides better oxygen barrier to products. BOPP films also play a key role in food packaging to extend the shelf life of products and thus reduce food waste.
- Printing segment is expected to register steady revenue growth over the forecast period, owing to superior performance properties of synthetic paper, as well as its good printability property. Synthetic papers are tough and also have the property to support high-quality printing, which is boosting its usage for printing applications.
- Film synthetic paper segment is expected to account for a steady revenue share in the global Asia Pacific Synthetic Paper Market over the forecast period. Film synthetic paper is a more popular manufacturing process in comparison to the fiber synthetic paper process.
- Packaging segment revenue is expected to expand significantly over the forecast period, owing to extensive usage of synthetic paper in the packaging of textile, chemicals, food and beverages, and cosmetics and personal care products. Synthetic paper is widely utilized for a broad range of packaging applications, including shopping bags, as well as chemical /industrial and FDA-compliant food packaging.
- Asia Pacific Synthetic Paper Market in Asia Pacific is expected to account for largest revenue share over the forecast period. Increasing demand from end-use industries for paper, paper bags, and other paper products, increasing awareness about ecology, and recent technological developments are major factors expected to drive market growth in this region during the forecast period.
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Market segmentation based on Product Type Outlook:
- Biaxially Oriented Polypropylene (BOPP) Films
- High Density Polythene (HDPE)
- Polyvinyl Chloride (PVC)
- Others
Application Outlook:
- Labelling
- Printing
- Paper Bag Making
- Others
Manufacturing Process Outlook:
- Film Synthetic Paper
- Fiber
- Film laminate
- Others
End-Use Outlook:
- Packaging
- Transportation
- Pharmaceuticals
- Cosmetics and Personal Care
- Manufacture
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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