According to the latest market study released by Technavio, the synthetic paper market in the Americas is expected to grow at a CAGR of close to 7% during the forecast period.
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Technavio has published a new report on the synthetic paper market in the Americas from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Synthetic Paper Market in the Americas 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the synthetic paper market in the Americas into three major product segments. They are:
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Synthetic paper market in Americas by BOPP
BOPP is a thermoplastic polymer obtained by stretching polypropylene films in both directions. It is widely used in the labeling and packaging of products. BOPP is the largest segment of the synthetic paper market in the Americas because of its extensive applications. It is used in applications like printing, publication, map, label and tag, and thermal paper.
According to Shakti Jakhar, a lead analyst at Technavio for packaging research, “The growth of the BOPP segment can be attributed to many factors. One of the key factors is the rise in demand for the labeling of packaged food. Consumers are giving more priority to food hygiene and safety, which drives the demand for better packaging solutions. BOPP is used in labeling because of its resistance to exposure to moisture and chemicals which makes it a better option for packaging and labeling compared with other types of packaging materials.”
Synthetic paper market in Americas by HDPE
HDPE is well known for its barrier protection capabilities and recyclable features over other plastics like PVC and polycarbonate making it usable in a variety of applications. HPDE is used prominently in industries like food and beverages, pharmaceuticals, and consumer goods. It can be easily recycled and used in rigid and flexible forms. Another distinguishing feature of HDPE is its light weight and good strength. Due to these features the demand for the HDPE-based synthetic papers is expected to grow during the forecast period.
“Synthetic paper is widely adopted in the packaging of beverages. It possesses high printability and writability, which makes it suitable for the beverage packaging industry. This feature enables the vendors to develop new designs for labels, which can be eye-catching and attractive to the customers. Also, synthetic paper is non-toxic and produces negligible by-products during its processing. The long shelf life, resistance to tear, and waterproof features make it ideal for the packaging of beverages,” says Shakti.
Synthetic paper market in Americas by others
The others category mainly includes resins, such as polyesters, PS, PET, and PVC. The PET and PVC categories have their applications mainly in the food and beverage industry, cosmetic industry, and other household packaging and labeling markets.
The synthetic paper derived from PVC as the key material is expected to witness high demand during the forecast period. Despite the demand for synthetic paper, a major factor that can hinder the growth of the segment is the growing environmental concerns regarding PVC. PVC is non-biodegradable, hence harmful to the environment. The presence of certain additives, such as lead and cadmium, makes the recycling process difficult. The demand for more eco-friendly and sustainable synthetic paper types has increased because of environmental regulations and change in consumer perspective in terms of using products that are eco-friendly in nature.
The top vendors highlighted by Technavio’s market research analysts in this report are:
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