Mar 15, 2021   SOURCE: BusinessWire

Water Soluble Films Market by Type, Application and Region - Global Forecast to 2025 - ResearchAndMarkets.com

The "Global Water Soluble Films Market by Type (Hot water Soluble, Cold Water Soluble), Application (Detergent, Agrochemical, Water Treatment Chemical, Dye, Food, Laundry Bags, Embroidery, Pharmaceutical Packaging), and Region - Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global water soluble films market is estimated to grow from USD 364 million in 2020 to USD 476 million by 2025, at a CAGR of 5.5%.

The major application of flame retardants is in detergent packaging, water treatment chemical packaging, food packaging, agrochemical packaging, and pharmaceutical packaging. Water soluble films are manufactured from polyvinyl resins and are synonymously called PVA/PVOH films. These films are used for specific unit dose packaging of detergents, agrochemicals, water treatment chemicals, food ingredients, pharmaceutical drugs, and dyes. Apart from these, the films are used in embroidery and laundry bag manufacturing.

Cold water soluble films expected to be the fastest-growing type of the water soluble films market, in terms of value, between 2020 and 2025

Cold water soluble films accounted for the largest share of the overall water soluble films market, in terms of value, in 2019. There are three sub-types of cold water soluble films, namely, type Z, type C, and type W. They are categorized based on water temperature. Type Z water soluble films can dissolve at 5oC and above, type C can dissolve at 15oC and above, and type W can dissolve at 25oC and above. Cold water soluble films are used in many applications. Detergent packaging is the largest application for this type of water soluble film. Due to its use in a wide range of applications, cold water soluble films dominated the overall market.

The detergent packaging estimated to account for the largest share of the overall water soluble films market, in terms of value, between 2020 and 2025

Detergent packaging is the largest application of water soluble films, followed by agrochemical packaging. The need for convenient handling and less wastage of products in the developed markets will boost the use of water soluble film for detergent packaging. The increasing population in developing countries demand better crop yield to meet the demand for food, which entail proper, safer, and better use of agrochemicals for better agricultural output. The increasing awareness about the use of eco-friendly products in developing nations is projected to stimulate the growth of water soluble film. The demand from other applications such as food packaging, pharmaceuticals, and laundry bags, and the rising awareness about environment-friendly products are driving the demand for water soluble films globally.

Strong foothold of water soluble films manufacturers in North America to drive the demand for water soluble films in the region

The US, Canada, and Mexico are the major countries covered in the region. Mexico is the fastest-growing market for water soluble films. The market in the country is driven by the focus on the development of the sector. Biodegradable films are gaining popularity in the US as the cost of disposal of such films is reduced. Monosol LLC (US), which was acquired by Kuraray Co. Ltd. (Japan), is the leading water soluble film manufacturing company and is focusing on increasing its market share in North America. The increasing awareness about the use of bio-degradable packaging to reduce carbon footprint is driving the growth of the water soluble film market in the region.

Market Dynamics

Drivers

  • Growing Demand for Convenience Food Items
  • Growing Pharmaceutical Industry in Emerging Economies
  • Rise in Production of Single & Unit Dose Packaging in Pharmaceutical Industry
  • Focus of Governments on Green Procurement Policies
  • Increased Demand from the Agriculture Industry

Restraints

  • Higher Cost of Water Soluble Film Compared to Conventional Plastic Films
  • Increasing Overall Packaging Costs Owing to Dynamic Regulatory Policies
  • Expert Handling and Low Market Penetration

Opportunities

  • Edible Water Soluble Film
  • Development of New Applications

Companies Mentioned

  • Acedag Limited
  • Aicello Corporation
  • AMC (UK) Ltd.
  • Aquapak Polymers Ltd.
  • Arrow Greentech Ltd.
  • Changzhou Greencradleland Macromolecule Materials Co. Ltd.
  • Cinch Packaging Materials Co. Ltd.
  • Cortec Corporation
  • Dute Industries Group
  • Foshan Polyva Materials Co. Limited
  • Foshan Yingfa Plastic Materials Co. Ltd.
  • Fujian Zhongsu Biodegradable Films Co. Ltd.
  • Greencycles
  • Guangdong Water Soluble Plastic Proudly Co. Ltd.
  • Istanbul Sera Plastic
  • Joyforce Chemical Industrial
  • KK Nonwovens
  • Kuraray Co. Ltd.
  • Mitsubishi Chemical Corporation
  • Monosol LLC
  • Nippon Synthetic Chemical Industry Co. Ltd.
  • Noble Industries
  • Novozymes AS
  • Procter & Gamble
  • Sekisui Chemical Co. Ltd.
  • Soluble Technology Limited
  • Super Interfab
  • Suvi Fabrics Private Limited
  • Yongan SYF Water Soluble Films Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/w0wvnm