Technavio, a tech-focused market research firm, has published a new report on the global synthetic paper market which is expected to experience a slow but steady growth rate with a CAGR of close to 7% during the forecast period 2016-2020.
This latest report by Technavio covers the market outlook and growth prospects of the global synthetic paper market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global synthetic paper market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global synthetic paper market for 2015 (market share %)
|
APAC |
38.51% |
|
EMEA |
33.87% |
|
Americas |
22.62% |
Source: Technavio
Synthetic paper market in APAC
In 2015, the APAC region, accounted for around 39% of the global synthetic paper market and is expected to witness the fastest growth during the forecast period. The rising need for retail products is driving demand for synthetic paper in the region. China dominates the synthetic paper market in APAC because of the large scale manufacturing activities in the country. Besides, the growth in developing economies, such as India and China, has increased the purchasing power of an individual. Consumers are procuring more food and beverages, which has intensified growth in the paper market in the APAC region. Besides India and China, countries such as Japan, Indonesia, Vietnam, and Malaysia, are also witnessing positive growth in the synthetic paper market. In 2015, in terms of volume, Japan was the highest revenue generator and contributes to around one -third of the total demand for synthetic papers in APAC.
According to Sharan Raj, a lead analyst at Technavio, specializing in research on tags and labels, “Observing the growing demand for paper in the APAC region, vendors have increased the capacity of their existing plants. During the forecast period, it is expected that the incessant expansion of the industries in countries like China, India and Indonesia will boost growth in the market, and the usage of BOPP and HDPE as supporting material in different types of synthetic paper will also increase significantly.”
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Synthetic paper market in EMEA
In 2015, EMEA contributed around 34% share to the global synthetic paper market. The increase in manufacturing activities in the Eastern European countries makes them the highest revenue generators of the synthetic paper market in the EMEA region. Vendors in the region are opting for eco-friendly synthetic paper over normal paper and other plastic films, due to the increased demand from the consumers. Flexible packaging by synthetic papers will witness a steady growth in the market during the forecast period. The increased demand for synthetic paper pouches and stand-up pouches in the beverage market is another factor that will fuel the growth in the synthetic paper market in the region during the forecast period. In 2015, the synthetic paper market in Germany witnessed the highest growth and is likely to continue the growth over the predicted period.
Synthetic paper market in the Americas
In 2015, the Americas accounted for around 23% of the global synthetic paper market. The region is expected to witness huge growth during the forecast period due to the massive consumption of pressure-sensitive labels in the packaging industry. The key revenue generators of the region are the US, Brazil, and Mexico. Factors such as increase in cross-border trade and growing demand for online shopping will drive market growth in the region. For instance, the growth in the e-commerce industry will increase the demand for corrugated boxes, resulting in an increase in the demand for synthetic paper in the Americas. Moreover, the growing demand for synthetic paper across industries like food and beverages packing, household products and healthcare is also contributing to the growth of the market in the Americas. In North America, the demand was the highest from the food packaging industry, especially from the multipack and frozen food segments. The health conscious consumers in the country are opting for milk products as an alternative to carbonated beverages, which will boost the usage of synthetic paper for packaging purposes, driving growth in the overall market during the forecast period.
The top leading vendors operating in the global synthetic paper market are:
- DuPont
- PPG Industries
- Nan Ya Plastics
- Yupo
Other prominent vendors in the market include Arjobex, HOP Industries, Taghleef Industries, American Profol, FLEXcon, and Neenah Paper.
A more detailed analysis is available in the Technavio report tilted, ‘Global Synthetic Paper Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Specialty Paper Market 2015-2019
- Global Flexible Paper Packaging Market 2015-2019
- Global Flexible Packaging Market for Food and Beverages 2016-2020
- Global Recyclable Packaging Materials Market 2016-2020
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