Synthetic Paper Market to Grow at 7% CAGR through 2020
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Technavio (London, U.K.), analysts forecast the global synthetic paper market to grow at a CAGR of close to 7% during the forecast period, according to its latest report. The research study covers the present scenario and growth prospects of the global synthetic paper market for 2016-2020. Based on type of material type, the market can be classified into the following segments: biaxially-oriented polypropylene (BOPP), high-density polyethylene (HDPE), and others.
In 2015, the BOPP segment was the largest material segment for synthetic paper due to its unique properties, such as easy printability, superior strength, versatility, and cost effectiveness. BOPP is a thermoplastic polymer and is widely used in labeling and packaging. Applications for BOPP synthetic paper in flexible packaging account for 60% of global consumption demand.
"The BOPP synthetic paper segment is one of the high-growth segments in the packaging and labeling industry. The segment is expected to grow at a CAGR of 6% during the next five years," said Sharan Raj, a lead analyst at Technavio for research on tags and labels.
A sample report can be requested online. Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
