Albany, NY -- (SBWIRE) -- 12/21/2016 -- Synthetic papers are a variant of paper that exhibit both the appearance, feel, and printability of paper, and the elasticity, tear resistance, and chemical resistance of plastics. This combination makes synthetic papers the ideal material for applications where the printed text needs to be able to endure environmental damage. Accordingly, tags and labels are the major application of synthetic papers in the global context, due to the requirement of labels to display the information printed upon them even after being subjected to environmental fluctuations.

BOPP to Lead Global Synthetic Papers Market

Biaxially oriented polypropylene or BOPP is the main material used to produce synthetic paper, due to its superior physical characteristics and cost-effectiveness in comparison to other materials such as high-density polyethylene and several synthetic resins. BOPP accounted for around 60% of the global synthetic papers market. High-density polyethylene is used in applications where chemical resistance of the synthetic paper is of crucial importance.

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Synthetic papers contain resins as an essential component; resins make up around 60% of the total production cost of synthetic papers. Due to this, the value chain of the global synthetic market is highly dependent on the price fluctuations of resins. The instability in the prices of resins is thus expected to hamper the development of the synthetic paper market in the coming years.

Labeling Leads Demand from Global Market, Non-Labeling Applications Set to Grow

Due to the unique nature of synthetic paper, labeling and tags are the leading application segment of the global synthetic paper market. However, non-label applications collectively accounted for a majority share of total demand from the global synthetic paper market, consuming around 60% of the total synthetic paper volume produced worldwide. Non-labeling applications of synthetic papers include maps, various graphical charts, banners, etc. Due to the durability of synthetic papers, most outdoor non-labeling applications are expected to expand in the coming years.

Labeling is also expected to show growth in demand for synthetic paper owing to the growth in demand for various kinds of consumer goods. The growing packaging industry is also benefitting the labels and tags industry, as the two are usually utilized together. Subtypes of labels where synthetic papers are used include shrink labels, in-mold labels, wrap-around labels, cut and stack labels, and pressure-sensitive labels.

APAC Leads Regional Segmentation of Global Synthetic Papers Market

Due to the growing spread of the labeling, packaging, and consumer goods industries in the rapidly urbanizing Asia Pacific region, this regional segment is the global leader of the synthetic paper market. APAC accounted for 35% of the global synthetic paper market in 2013 and is expected to comfortably remain the leading regional segment in the ongoing decade.

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Concentrated Synthetic Paper Market to Reach US$338 Million by 2020

The global synthetic paper market is highly concentrated, with the top three market players holding 83% of the market. Major players operating in the synthetic paper market include PPG Industries, DuPont, Yupo Corporation, Arjobex, Tagleef Industries, Hop Industries, and Nan Ya Plastics Corporation.The global synthetic paper market was worth close to US$213 million in 2013, according to research conducted by U.S.-based market intelligence firm Transparency Market Research. The market is expected to exhibit a strong 7% CAGR from 2014 to 2020 and eventually attain a total value of US$338 million.

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