Synthetic Paper Market: Current Analysis and Forecast (2021-2027)

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The global synthetic paper market stood at around US$800 million and is likely to showcase a growth of around 7% during the forecast period. Paper is one of the most widely consumed commodity products, whether it is used as a stationary or used in industries for labeling or printing application, it plays an important role. However, the paper product is not environmentally friendly as it requires pulp which is obtained mainly from woods, thereby promoting deforestation. As the world is moving towards a sustainable future, therefore it is important to substitute the conventional paper with the paper which does not promote deforestation activity and at the same time provides the same or better quality than the conventional one. Synthetic paper is one of the niches in the paper industry which is gaining industry traction due to its superior quality and environment-friendly nature as these are produced using synthetic resins which are obtained from petroleum products. These synthetic papers have wide potential to grow due to the wide application areas of paper resulting in a large market size. For instance, in 2020, the world has the capacity to produce around 590 million tons of pulp, paper, and tissue.

Insights Presented in the Report

“Amongst raw materials, BOPP-based synthetic paper held a prominent share in the market in 2020”

Based on raw materials, the market is categorized into BOPP, HDPE, and others. Among these, BOPP held a prominent share in terms of value due to its water and oil resistance properties. Owing to this it is widely consumed in the industries which demand a robust product to handle the working condition. Further, BOPP-based synthetic papers are easy to recycle thus facilitates a circular economy. Therefore, as companies are trying to build a circular economy model to promote sustainability and at the same time decrease operational cost, thus with using BOPP as a raw material to produce synthetic paper can help in achieving their targets.

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“Amongst applications, labels & tags is likely to showcase substantial growth during the forecast period”

Based on application, the market is categorized into printing, labels & tags, packaging, and others. Among these, labels & tags are likely to showcase substantial growth over the forecast period due to their increasing use in pharmaceutical, agricultural, and chemical applications. These industries required papers that are chemical resistant and handle various types of sterilization methods. As the synthetic paper has the properties to deal with such situations, thereby with the rise in these industries, the demand for synthetic paper would increase. Moreover, over the years, the e-retail industry has showcased robust growth and is likely to continue its performance majorly in developing economies, thereby increasing the demand for synthetic paper for packaging and labeling.

“Asia-Pacific accounted for a considerable share in the global synthetic paper market”

For a better understanding of the market adoption of synthetic paper, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific accounted for a prominent share in the synthetic paper market on account of the presence of vast industrial sectors in countries like China, Japan, India, and South Korea. Further, robust growth in the regional e-retail industries is boosting the demand for synthetic paper.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive country-level analysis of the industry

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Research Methodology

Analyzing the historical market, estimating the current market, and forecasting the future market of synthetic paper, three major steps are undertaken to create and analyze its adoption across the globe. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the synthetic paper industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of synthetic paper through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the synthetic paper market, we conducted a detailed secondary analysis to gather current market insights and share for different segments & sub-segments for major regions. The major segment is included in the report by raw material, application, and end-user. Further regional and country-level analyses were conducted to evaluate the overall adoption of synthetic paper globally.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of synthetic paper. Further, we conducted factor analysis using dependent and independent variables such as expanding industrial production and increasing awareness pertaining to energy conservation. A thorough analysis was conducted for demand and supply-side scenarios considering an increasing investment, top partnerships, mergers and acquisitions, business expansion, and product launches in the synthetic paper industry.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global synthetic paper market, and market shares of each segment. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the bottom-up approach were applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of synthetic paper across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Synthetic Paper market. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants by Stakeholders and Regions

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Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Synthetic Paper market. Data was split into several segments & sub-segments post studying various parameters and trends in the area of raw material, application, and end-user.

The main objective of the Synthetic Paper market study

The current & future market trends of global Synthetic Paper were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of synthetic paper in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segment in the study include the area of raw material, application, and end-user
• Defined analysis of the regulatory framework for the synthetic paper industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of synthetic paper for the major countries
• Major regions/countries analyzed in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), and Rest of World
• Company profiles of the synthetic paper market players and the growth strategies adopted by them to sustain in the growing market

Deep dive country-level analysis of the industry

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