The global water soluble film market was worth US$ 358.4 Million in 2018. A water-soluble film refers to a thin protective layer made up of polyvinyl alcohol (PVA/PVOH) that dissolves when it comes in contact with water. PVA is a colorless, odorless and biodegradable resin that is free of heavy and toxic elements. Water-soluble films made from this resin have high tensile strength, flexibility, and adhesive properties. They also offer smooth mechanical operations, enhanced productivity, cost-effectiveness and flexibility in packaging. As a result, they are used in the packaging of a wide range of industrial and consumer goods, particularly for single-serve or pre-portioned packs.
The growing demand for water soluble films and their increasing utilization as a sustainable and eco-friendly packaging material are some of the key factors driving the market growth. For instance, they allow detergent manufacturers to offer single-use packs which help in preventing wastage, spillage and overdosing by the end user. In the chemical industry, these films help in protecting industrial workers from coming in direct contact with hazardous materials. Additionally, owing to the air and oil resistant properties of these films, they are widely used in the food and beverage industry. Moreover, with continuous research and development, manufacturers are introducing water-soluble films made from milk-based thermoplastic that can easily break down in soil and water. The increasing requirement of environment-friendly and easy-to-use packaging materials for agrochemicals along with the introduction of stringent environmental protection laws and regulations is another factor contributing to the market growth. Looking forward, IMARC Group expects the market to reach a value of US$ 485.8 Million by 2024, registering a CAGR of around 5% during 2019-2024.
The report has also analysed the competitive landscape of the market with some of the key players being Kuraray Co. Ltd, The Nippon Synthetic Chemical Industry Co. Ltd, Sekisui Chemical Co., Ltd, Aicello Corporation, Arrow Coated Products Ltd., Cortec Corporation, Changzhou Water Soluble Co.Ltd, Jiangmen Proudly Co. Ltd., AMC (UK) Ltd, 3M Company, Mitsubishi Chemical Corporation, DowDuPont, Fujian Zhongsu Biodegradable Films Co., Ltd., Dezhou Huamao Textile Co. Ltd., Neptun Technologies Gmbh, etc.
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