Chicago, Jan. 31, 2024 (GLOBE NEWSWIRE) — The Water Soluble Films Market size is projected to reach USD 476 million by 2025 from USD 364 million in 2020, at a CAGR of 5.5%, as per the recent study by MarketsandMarkets™. Polyvinyl alcohol (PVA) film is a water-soluble biodegradable film and is used for packaging of detergents, agrochemicals, water treatment chemicals, disinfectants, and dyes, laundry bag production and embroidery.
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206- Market Data Tables
List of Key Players in Water Soluble Films Market:
- Kuraray Co. Ltd. (Japan)
- Sekisui Chemical Co. Ltd. (Japan)
- Mitsubishi Chemical Corporation (Japan)
- Aicello Corporation (Japan)
- Arrow Greentech Ltd. (India)
- Cortec Corporation (US)
- Changzhou Greencradleland Macromolecule Materials Co. Ltd. (China)
- Guangdong Water Soluble Proudly Co. Ltd. (China)
- Noble Industries (India)
- AMC (UK) Ltd.
Drivers, Restraints, and Opportunities in Water Soluble Films Market:
- Drivers: Growing demand for convenience food items
- Restraints: Higher cost of water-soluble film compared to conventional plastic films
- Opportunity: Edible water-soluble film
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Key Findings of the Study:
- Cold water soluble is the largest type of water soluble films market.
- Detergent packaging is estimated to be the largest application of the water soluble films market during the forecast period.
- North America is estimated to be the largest market for water soluble films during the forecast period.
Water soluble film is made from polyvinyl alcohol resins. Due to its water-soluble property, it is widely used for water soluble small dose packaging of detergents, agrochemicals, water treatment chemicals, dyes, and food products. Apart from these applications, water-soluble films are used in embroidery and laundry bag manufacturing. Water-soluble films disintegrate and dissolve in water and do not leave any harmful residue.
Two types of water soluble film production are commercially available; they are hot water-soluble films and cold water soluble films. The cold water soluble films segment accounts for the major share in the overall market. Due to the limited scope and applications of hot water soluble films, they are used only in specific applications.
Detergent packaging application accounted for the maximum share in 2019, in terms of value, in the overall market, followed by agrochemical packaging. The laundry bags application is expected to register the highest CAGR between 2020 and 2025. This high growth rate is due to the high requirement of contact-free washing of contaminated clothes. The market in water treatment chemical packaging applications is also expected to grow at a high rate due to the high demand for treated water and the increasing scarcity of water in most countries across the globe.
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North America is the largest market for water soluble films, followed by Europe and APAC. Increasing awareness among consumers regarding the use of eco-friendly products and implementation of stringent laws by regulatory authorities for environmental protection, such as EPA and other associations, are the key factors driving the growth of the water-soluble films market in North America. The use of water soluble films in the packaging industry is rising as it prevents wastage and is safe and easy-to-use. Water soluble film manufacturers are partnering with top FMCG and agrochemical companies such as Procter & Gamble and Unilever for product packaging to increase their consumer base.
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