The global synthetic paper market is anticipated to grow at a considerable CAGR of 8.8% during the forecast period. Synthetic papers are widely adopted due to their significant printing ability, durability, and resistance to oil, water, grease, and other chemicals. They have a quick drying time and significant resistance to moisture and weather with high opacity and efficiency. Synthetic papers are widely adopted due to environmental concerns and eco-friendly attributes. They are made without any wood fibers and avoid cutting trees and perform better than the conventional papers. It differs from the plastic film in printing characteristics, and it differs from the traditional paper due to the lack of wood fibers. They are widely adopted by manufacturers and distributors for any type of plastic film that will accept offset printing other than generic polystyrenes or PVC films. The prominent factor that enhances the growth of the market is due to the adoption of Synthetic papers over conventional papers. Favorable Government policies and regulations are boosting the market growth of Synthetic papers.for instance, In May 2021, Cosmo Films, the indian packaging and speciality films manufacturer has introduced a 100% Opaque Synthetic Paper(OSP), which especially designed for dangler application.
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Impact of COVID-19 Pandemic on Global Cardiology Surgery, Devices, and Drugs Market
During the COVID-19 pandemic, the supply of FMCG products, among others stopped during the period of nationwide lockdown which has adversely affected the synthetic paper industry as the synthetic paper mainly used in printing for packaging of FMCG products, cosmetics, medicines, among others. However, the market is projected to recover after the COVID-19 pandemic, and the key market players operating in the global synthetic paper market are resuming their operations, due to upsurge in online grocery demand which is boosting the market in the near period.
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The Asia-Pacific Region is projected to Witness the Higher Growth in Global Synthetic Paper Market
The Asia-Pacific region is holding the highest market share in the global synthetic paper market. The primary factor contributing to the growth of the market, is increasing demand from industries such as food & beverage, cosmetics, and chemicals for paper, paper bags, and other paper products, higher awareness about ecology, subject to variation in lifestyle trends will additionally supplement the synthetic paper market growth.The North American region is holding the second highest market share following Asia-Pacific of the global synthetic paper market. The primary factor contributing to the growth of the market, are the increasing awareness and adoption of non-toxic, eco-friendly packaging and the escalating demand for packaged and frozen food are likely to fuel the synthetic paper market growth.
By Type (HDPE, BOPP And Others (PET And PVC)),
By Application (Labelling And Tags, Printing, Paper Bags, And Others)
By End-User Industry (Industrial, Institutional, and Others (Commercial, and Retail))
Market Players Outlook
The major companies serving the global synthetic paper market are PPG Industries, Seiko Epson Corporation, Agfa-Gevaert Group, Nan Ya Plastics Corporation, Yupo Corporation, American Profol Inc., Cosmos Films, Dupont, Hop Industries Corporation, Arjobex Sas, S.b Enterprises, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In June 2019, Yupo Corporation has developed its new synthetic paper, manufactured from biodegradable plastic resin, used for label applications. Sugarcane bagasse is used to manufacture green synthetic Yupo papers in place of conventional crude oil-based paper. The organization took this step to promote sustainable development and to provide technology that produced environment friendly products.
The Report Covers
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global cardiology surgery, devices, and drug market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market
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