Synthetic Paper Market Size, Share & Trends Analysis Report By Product (BOPP, HDPE, PET & Others), By Application (Label, Non-Label), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the synthetic paper market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for synthetic paper market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of synthetic paper market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Synthetic Paper Market Categorization:

The synthetic paper market was categorized into three segments, namely product (BOPP, HDPE, PET), application (Label, Non-Label), and region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa).

Segment Market Methodology:

The synthetic paper market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The synthetic paper market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twelve countries, namely, the U.S.; Canada; Mexico; the UK; Germany; France; Italy; Japan; China; India; Taiwan; Australia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Synthetic paper market companies & financials:

The synthetic paper market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Formosa Plastics Group - The headquarters of Formosa Plastics Group are in Taipei, Taiwan, where it was founded in 1954. It is a major participant in several worldwide sectors, including plastics and petrochemicals. The company's affiliate, Nan Ya Plastics Corporation, was founded in 1958 to produce PVC film, plastic leather, and pipes. The business also has more than twenty additional subsidiaries in Taiwan, the United States, China, and Indonesia in addition to Formosa Chemicals & Fiber Corporation and Formosa Petrochemical Corporation.  The corporation works in many industries, including petrochemicals, fiber and textile, plastic raw materials, plastic secondary processing, electronic materials, transportation, and machinery. Numerous plastic resins and intermediate products, including olefins, polyethylene, polypropylene, suspension PVC, and dispersion PVC, are produced by it. With a yearly capacity of 26,400 MT, the Plastics 3rd Division of Nan Ya Plastics Corporation produces synthetic paper based on polypropylene.

• SIHL Group - The SIHL Group is based in Bern, Switzerland, and was founded in 1945. It works on producing substrates for digital printing. Films, sheets, and specialized materials for wide format plotters, printers, presses, and inkjet, solvent, UV curable, latex, and toner-receptive devices are among its product offerings. For digital printing, the business employs inkjet, dry toner, liquid toner, electrostatic, and penplotter technologies. In 1945, the company opened its first production plant in Bern, Switzerland. This factory specializes in both interior design and the production of fine art materials, including canvas. The business established a manufacturing plant in Duren, Germany, in 1902. Synthetic print media and picture paper are the facility's specialties. Founded in 1810, the corporation maintains a logistics and sales hub in Rhode Island, United States.

• B & F Plastics, Inc. - The U.S. company B & F Plastics, Inc. was founded in 1988 and has its headquarters in Virginia. The company produces thermoplastic olefin (TPO), thermoplastic elastomers (TPE), tirePlast, polyethylene (PE), polypropylene (PP), and other custom compounded materials for building products, boat and RV, thermoforming, roofing, automotive, and sport flooring industries. In addition to bespoke extrusion, the business provides square cutting, die cutting, hot stamping, slitting, molding, and other fabrication services. It manufactures polypropylene in a variety of formulas, from all-purpose to extremely specialized. To meet the needs of diverse fabrication processes, including extrusion, injection molding, thermoforming, blow molding, extrusion coating, and laminating, the firm offers a range of polypropylene grades.

• Jindal Poly Films Ltd. - Based in New Delhi, India, Jindal Poly Films Ltd. (JPFL) was founded in 1985. The business makes films that are coated with BOPP and BOPET as well as BOPET and BOPP that are metalized. After purchasing Rexor S.A.S (France) in November 2003, the company's operations were reinforced. Tear tape, stamping foil, metalized and coated films, security threads, and other premium goods are manufactured by Rexor. 177,500 tons of BOPET films, 303,500 tons of BOPP films, 71,000 TPA of metalized films, and 19,678 tons of coating films were among the company's output capacities as of March 2021. As of 2021, the organization employed over 1,700 people and was present in almost 40 different countries. Six production sites are owned by the corporation and its subsidiaries: two are located in the United States, three are in Europe (in Italy, Belgium, and the Netherlands), and one is in Nashik, India. The business is a significant provider of top-coated and specialized BOPP films to the most well-known international brand owners in the confectionery and food and beverage sectors.

• Cosmo Films Ltd. - The headquarters of Cosmo Films Ltd. are in Aurangabad, Maharashtra, India, where it was founded in 1981. The firm has production facilities in Korea, the United States, and India where it produces BOPP films. There is a 200,000 TPA BOPP manufacturing factory there. For flexible packaging, lamination, labeling, and industrial applications, it provides a wide variety of BOPP films, including specialty films such velvet thermal lamination films, direct thermal printing films, and high barrier films. The corporation ships its goods to more than 80 nations on a global scale. It is traded on the Indian stock exchanges, the National Stock Exchange (NSE - COSMOFILMS) and the Bombay Stock Exchange (BSE - 508814). As of 2021, the organization employed more than 500 people.

• Granwell Products, Inc. - The U.S. headquarters of Granwell Products, Inc. are in New Jersey, where it was established in 1988. It provides biaxially oriented polypropylene (BOPP), polyvinyl chloride (PVC) films, amorphous-polyethylene terephthalate (A-PET), synthetic paper, and polyester film. Additionally, it provides polylith synthetic paper for labels, cards, packaging solutions, maps, menus, signage, and labels. The firm makes TAIRILIN polyethylene terephthalate film, which is utilized in electrical, metalizing, packaging, and graphic applications. While BOPP film is utilized in food and stationery applications, A-PET film is utilized for vacuum forming, printing, food packaging, fold molding, and sealing.

• Transcendia, Inc. (Goldman Sachs Group) - Originally founded in 1931 as Transilwrap, Transcendia, Inc. has its headquarters in Illinois, USA. It is involved in the production of plastic goods. The firm also manufactures coating goods, synthetic paper, polymer alloy materials, and plastic films and sheets for the solar, printing, packaging, and tag and label sectors. Healthcare, food & beverage, protective & aesthetic, industrial, active packaging, point of purchase/display, window, and security aid are just a few of the markets and applications it serves. The firm uses a broad range of technologies, such as liquid coating, film extrusion, extrusion coating, specialist processing & finishing, and bespoke creation. In 2017, Goldman Sachs Group, Inc. bought the business.

• Valéron Strength Films  - The headquarters of Valéron Strength Films are in Texas, where it was founded in 1965. The firm produces specialized films for a range of uses, including cross-laminated polyethylene. Construction, general industrial, automotive, food & beverage, food equipment, industrial capital goods, paper products, consumer durables, and electric markets are all served by Valéron, a subsidiary of Illinois Tool Works, Inc. Using Valéron's patented technique, ITW meets the needs of a wide range of sectors, including construction, packaging, print media, and strength and specialty film applications. Asia, Australia, and the Americas are the regions in which Valéron Strength Films offers its services. A sister factory of Valéron Strength Films is located in Essen, Belgium, and offers services throughout Europe, Africa, and the Middle East. As of 2021, there were around 48,000 workers at Valéron Strength Films.

• Toyobo Co., Ltd. - Founded in 1882, Toyobo Co., Ltd. has its headquarters located in Osaka, Japan. Products made by the firm include films, functional resins, membranes & modules, adhesives & coating materials, functional filters, medicines, bioproducts, cushion materials, industrial fibers & civil materials, high-performance fibers, and textiles. The firm serves a number of markets, including life science, mobility, lifestyle & environment, films, and functional material. Japan, China, Hong Kong, Taiwan, Korea, Thailand, Indoesia, Malaysia, India, Saudi Arabia, Mexico, El Salvador, Germany, and Spain are among the countries where the corporation maintains operations. Approximately 10,503 people worked at the firm as of March 2022.

• TechNova - With its headquarters located in Navi Mumbai, India, TechNova was founded in 1971. It offers integrated solutions, consumables, systems, software, and services for the print, publishing, packaging, textile, engineering, signs, and photo sectors. It also offers complete imaging solutions for the visual communications sector. The corporation uses distribution networks and abroad offices to sell its goods in 60 countries. It is an Indian maker of dye-sub papers that provides a wide variety of dye-sub papers under the TRANSFERO umbrella brand, which is intended for large-format and desktop printing needs. These dye-sublimation sheets may be used for artistic purposes including printing textile fabric, ceramic mugs, and T-shirts. Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kochi, Kolkata, Mumbai, Indore, and Lucknow are the company's domestic offices. Dubai, East Africa, North America, South America, South Africa, the United Kingdom, and Sri Lanka are the locations of its overseas offices.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Synthetic Paper Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Synthetic Paper Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.