Global synthetic paper market was valued at around $1.9 billion in 2018 and is projected to reach $ 2.6 billion by 2024, exhibiting a CAGR of 5.7%. Growing demand for synthetic paper in both packaging and label industry on account of its properties such as exceptional printability, predictable convertibility, and a smooth surface for improved production is anticipated to propel growth in the market. Synthetic paper is basically an appropriate printing medium for indoor advertisements, posters, banners as well as other kinds of photo printing. The special layer of coating on the paper makes the image more colorful and attractive and exhibits resistance against chemicals, grease, folding and heat. This, in turn, increases its application in the development of toxic-free thermoforming products for food packaging.