Global Synthetic Paper Market Expected to Grow at a CAGR of 8.1% During 2019-2029
Kenneth Research has evaluated the current market opportunities in Synthetic Paper Market for the period of 2019-2029 including the ongoing industry trends and innovations that will help industry players to attain their business targets. Apart from that, the inclusive data on market size, market share and forecast, growth opportunities and challenges for the market players along with worldwide analysis on regions- North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
The Synthetic Paper Market was valued at $751.0 million in 2018 and is expected to grow at a CAGR of 8.1% over the forecast period from 2019-2029. Due to its characteristics such as outstanding print ability, predictable convertibility, and a smooth surface for enhanced manufacturing; its penetration has been increased in the packaging and label sector is anticipated to increase market growth. Growing demand from the Asia Pacific region especially from China and India in end-use industries, such as paper and paper bags is also expected to fuel the demand for synthetic paper.
Synthetic paper is an appropriate print media for indoor advertising, posters, banners and other types of photo printing. The special coating layer on the paper makes the image more colorful and attractive and shows resistance to chemicals, grease, folding and heat. These factors makes it more preferable materials over others.
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APAC region is expected to dominate the overall synthetic paper market and will grow with highest CAGR of 9.8% over the forecast period from 2019-2029. High demand from various end-use industries including paper, packaging, food & drinks, cosmetics, pharmaceuticals, and chemicals are driving the market for synthetic paper in APAC region. Continuous industrialization and innovation in paper technology and knowledge of synthetic paper’s printability leads to rising synthetic paper consumption. Favourable economic growth of developing nations including China and India will further enhance the synthetic paper demand in APAC region.
Leading companies featured in the Synthetic Paper Market Report 2019-2029 report include AMERICAN PROFOL, INC., B & F Plastics, Inc., Cosmo Films Ltd., Folex Group, Formosa Plastics Group, Granwell Products, Inc., Jindal Poly Films Ltd., Kernow Coatings, Polyplex Corporation Ltd., SIHL Group among others. Mergers, acquisitions, and joint ventures constitute some of the industry players’ common strategies for reducing product price overall and maintaining extremely competitive conditions. In order to guarantee continued raw material supplies and ease of installation services, many actors in the sector create alliances with raw material providers and third-party installers.
The comprehensive report provides market estimates and forecasts for leading domestic markets across the world for the period from 2019 to 2029. In addition, the report includes dedicated leading companies covering 10 leading synthetic paper producers.
The report on the Synthetic Paper Market Report 2019-2029 will appreciate anyone who wants to better understand the market in various end use industries. It will be useful for companies that want to better understand the part of the market in which they are already involved or those that want to enter or expand into another regional or technical part of the synthetic paper industry.
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