Polyester Synthetic Paper Market 2021 Top Key Leaders, Trends, Share, Growth, Industry Size and Forecast To 2029
Posted on Jan 24 2023 6:43 AM
"Companies covered in the Polyester Synthetic Paper Market are Veritiv Corporation., Fusion Digital Paper, Mohawk Fine Papers Inc., Duroflex Specialty Papers Inc, Nekoosa, Marketing and Technical Materials Inc, Agfa-Gevaert Group, Kaveri Metallising & Coating Ind. Private Limited, MyBinding, Qwik Media, DEFY PAPER, Nekoosa Coated Products, and Xerox Corporation. "
The global polyester synthetic paper market size is estimated to inflate on account of the increasing growth of the food and beverage industry, observes Fortune Business Insights™, in its report, titled, “Polyester Synthetic Paper Market, 2022-2029
The polyester synthetic paper is used in various industries but majorly in the food and beverage industry in the form of menu cards. It has more rigidity than other single-layered substrates, such as polyblend and teslin. It is a durable product as it offers a consistent finish on its surface, high flex, and tear resistance. These factors are set to bolster the demand for polyester synthetic paper and boost market growth during the forecast period.
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List of Key Players Covered in the Polyester Synthetic Paper Market
- Veritiv Corporation
- Fusion Digital Paper
- Mohawk Fine Papers, Inc.
- Duroflex Specialities Papers, Inc.
- Marketing and Technical Materials, Inc.
- Agfa Gevaert Group
- Kaveri Metallising & Coating Ind. Private Limited.
- Qwik Media
- DEFY PAPER
- Nekoosa Coated Products
- Xerox Corporation
The polyester synthetic paper market is divided into several attributes, namely, by type, by application, and by geography.
On the basis of type, the market is categorized into coated synthetic paper and uncoated synthetic paper. Based on the application type, the market is further segmented into ID-cards, maps, plant tags, medical charts, menu cards, and book covers among others.
Geographically, the market is segregated into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The report offers a holistic evaluation based on thorough research of the market. It further provides an in-depth analysis of the current market trends and future opportunities. The report sheds light on the market drivers and restraints. Moreover, key players and their innovative strategies to prosper in the market and dominate as prominent players are shared in the report. A detailed study of the regional dynamics and how they shape the market is observed in the report.
Surging Demand for Synthetic Paper from Various Industries to Propel Market Growth
The expansion of the food and beverage industry would result in the high demand for menu cards to present. The growth in the educational and corporate world too influences the rising usage of polyester for ID-cards and maps. The medical field would boost the polyester paper market as the demand for medical charts is on the rise. These factors are set to propel the demand for polyester synthetic paper and boost market growth.
The polyester synthetic paper is sturdy, durable, and highly flexible. Hence, this evidently suggests the high cost of raw material. As the raw material is expensive, the price of manufacturing these menu cards naturally surges. Furthermore, restaurant owners are using e-menu cards as they are easily accessible and economical. This may lower the demand for polyester synthetic paper and further hamper the market growth.
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Asia Pacific to Dominate Backed by Rising Number of Hotel Chains and Restaurants
Asia Pacific is anticipated to dominate throughout the forthcoming years as it holds the major polyester synthetic paper market share. The growth of the market is the consequence of surging restaurants and hotel chains which require food menu cards.
Europe is estimated to witness significant growth during the forecast period owing to the surge in the demand for ID-proof cards utilized in educational institutes and private, as well as corporate world.
The North American region is likely to observe growth on account of the increasing need for medical charts in hospitals and pharmaceutics.
Latin America and the Middle East and Africa are expected to make decent progress owing to the hyped use of polyester synthetic paper in book coverings and plant-tags.
Mergers and Acquisitions among Key Players to Boost Market Growth
Prominent players are always vigilant while planning any strategies to lead in the market and maintain their dominance in the global market. Launching products, signing partnership agreements, and acquiring other partner companies to make notable progress in the market are some of the effective strategies.
For example, in December 2019, Agfa-Gevaert Group signed a share purchase agreement with Dedalus for selling a part of Agfa HealthCare’s IT business. This is expected to bolster market position for Dedalus and further propel demand.
July 2020: A major key player, Veritiv launched a new packaging design branding firm under the name Vine. The experienced team of Vine with the support of Veritiv would foster innovations and ideas, coupled with the design creativity and on point execution along with the experts in supply chain. This is likely to boost demand for polyester synthetic paper in the near future.
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