Synthetic Paper Market – Current Trends, Opportunities and Challenges

Rising environmental awareness due to initiatives taken by environmental organizations and increasing demand from the packaging & label industry is likely to stoke the growth of the market. The Global Synthetic Paper Market size is projected to reach USD 1.3 billion by 2024, according to a new report by Grand View Research, Inc., progressing at a CAGR of 7.1% during the forecast period.

Synthetic paper is recyclable and wastes linked to the production are collected by a recycling company and processed as raw materials for other plastics. Unlike traditional paper, which can only be recycled four to five times at the most, synthetic paper can be recycled for unlimited number of times. Furthermore, it is water resistant, dustproof, tears resistant, and heat resistant.

Synthetic papers are durable and tear resistant, which makes them suitable for a variety of blister packaging applications. Its usage has been increasing in the pharmaceutical sector, especially with products known to have high pilferage rate. In addition to excellent physical characteristics, synthetic papers can deter tampering without sacrificing graphics fidelity.

The U.S. government plans to make their passports more secure by using RFID tags. The product is used to manufacture durable, secure, and high-performance RFID tags with enhanced performance and superior physical characteristics.

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Price fluctuations of crude oil are expected to increase the prices of PP and PE. The polymer prices are expected to witness an increase over the coming years, which is likely to affect the market. Application growth and raw material availability are likely to remain key reasons for price fluctuations.

Market Segmentation of Synthetic Paper Market:

The Global Synthetic Paper Market segmented on the basis of Product, Application, and Region.

By Product:

    BOPP
    HDPE

By Application:

    Label
    Non-Label

By Region:

    North America
    Europe
    Asia Pacific
    Latin America
    Middle East & Africa

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