The latest report by IMARC Group, titled “Water Soluble Film Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, finds that the global water soluble film market size reached US$ 375.96 Million in 2019. A water soluble film (WSF) refers to a plastic layer that has the unique characteristic of completely dissolving and disappearing in the water at room temperature. Nowadays, the demand for water soluble films has escalated around the world as it is a smart and sustainable solution for packaging, which offers gas barrier protection, and resistance to oil and organic solvents.
Global Water Soluble Film Market Trends:
With the rising environmental concerns, various industries are utilizing water soluble films as they are biodegradable, non-toxic and non-inhibitory, and help in reducing packaging wastes. Also, governments in various nations are implementing stringent environmental protection laws and regulations, which has increased the demand for water soluble films. Several companies are also focusing on developing green water soluble films to help consumers with precise dosing, and safe handling or storage of toxic and hazardous products. They are introducing films that provide optimum tensile strength and flexibility when used with multiple forms of packaging materials. This enables the companies to achieve a balance between maintaining profitability and reducing their environmental impact. Looking forward, the market value is projected to reach US$ 509.11 Million by 2025, expanding at a CAGR of 4.8% during 2020-2025.
- Based on the material, the market has been segmented into PVA/PVOH and Xylan. PVA/PVOH currently dominate the market, holding the largest share.
- On the basis of the application, detergent packaging represents the largest segment. Other major application areas include agrochemical, water treatment chemicals and pharmaceutical packaging.
- The market has been classified based on the end use industry into textile, agriculture, consumer goods, healthcare and others.
- Region-wise, North America exhibits a clear dominance in the market. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been examined, with some of the key players being Kuraray Co. Ltd., Nippon Synthetic Chemical Industry Co. Ltd., Sekisui Chemical Co., Ltd., Aicello Corporation, Arrow GreenTech Ltd., Cortec Corporation, Changzhou Kelin PVA Water Soluble Films Co., Ltd., Jiangmen Proudly Water-soluble Plastic Co., Ltd., AMC (UK) Ltd., 3M Company, Mitsubishi Chemical Corporation, DuPont de Nemours, Inc., Fujian Zhongsu Biodegradable Films Co., Ltd., Dezhou Huamao Textile Co. Ltd., and Neptun Technologies GmbH.
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