Market - - Oct 06,2017
Synthetic Paper Gaining Wide Acceptance in Americas especially from Beverage Industry
The growing beverage industry highly prefers synthetic paper for packaging beverages since it exhibits high printability and writeability.
Synthetic paper is white and opaque like regular paper and has a resemblance in terms of the printability and processing capabilities. The paper has the characteristics of both plastic films other than regular paper and is obtainable in different grades & thicknesses. Because synthetic paper is petroleum it is 100% recyclable. It is considered ideal for the packaging of beverages because it is waterproof and is tear resistant and has a long shelf life. Apart from that, the use of synthetic paper is considered as a sustainable option for in-mold labeling. This is also one of the prime trends gaining traction in the synthetic paper market. However, expected surge in synthetic paper prices could be a major challenge to the market growth.
According to a latest study evaluations, the market for synthetic paper in the Americas will grow at a CAGR of close to 7% by 2021. Analysts have found that due to the growing awareness regarding advantages of synthetic paper in the broad range of industries is likely to propel its demand in its applications over the forecast period. These applications include maps, banners, graphic arts and charts. Many maps, especially nautical maps, are using synthetic paper more and more often. These maps are often handled frequently in adverse conditions.
In terms of geographical presence, the US and Canada are prime markets for synthetic papers. Moreover, major material types contributing towards the market revenue growth include biaxially oriented polypropylene (BOPP), High-density polyethylene (HDPE) and others.
At present, in the Americas the synthetic paper market is highly competitive due to the presence of worldwide vendors. The active players are trying to increase the sales volume of synthetic paper and meet the rising demand by working on technology and expanding their production units. DuPont, YUPO, PPG Industries and Nan Ya Plastics are identified as the most crucial players in this market.
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