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Growing environmental concerns are contributing to several changes in consumption patterns and processes. One such change is the revival of a largely ignored polymer technology, the polyvinyl alcohol (PVOH) films. The safe and eco-friendly attributes of PVOH are multiplying its applications as it can reduce shipping costs and transportation emissions. These developments are set to create a tremendous market opportunity for the global water soluble film market in the forecast period. These products are finding significant applications across households as well as in the medical and personal care sectors. These products find notable application in the pharmaceutical industry too. In addition, the agricultural players are also using these as the packaging of agrochemicals to improve the quality and quantity of crop yield. Such diversity of applications is expected to lead the global water soluble film market to sound maturity.
Thriving Pharmaceutical Industry to Prolong Growth Curve
The pharmaceutical industry, especially in developing economies, is growing significantly. Some of the key reasons behind this growth are the growing population, increasing prevalence of certain chronic diseases, and growing medical expenditure. The pharmaceutical industry is also reacting to these advancements by strengthening its research and development efforts and adopting of latest medical technologies to improve the quality of care. The water-soluble films find notable applications in the overall pharmaceutical industry including unit-dose pharmaceuticals, artificial tears used to treat dry eyes, and even contact lenses. The collective force of the thriving pharmaceutical industry and growing applications of water-soluble films is expected to lead the global water soluble film market during the study period.
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Growing Applications in Agricultural Industry to Create Growth Prospects for Global Water Soluble Film Market
The growing world population is projected to create sustained demand for agricultural produce. The market players in the agriculture industry are adopting more efficient methods of agriculture to boost both the quality and quantity of their products. Agrochemicals, fertilisers, and other chemicals are expected to gain significant traction in the coming years. As the method of delivering agrochemicals to the crops is extremely important to maintain the optimal crop yield, the adoption of water-soluble films is growing. Using water-soluble film packaging, a farmer can simply place agrochemicals in these packets and precisely maintain the delivery of nutrients. The environment-friendly nature of these products is expected to sustain profound growth across the global water soluble film market in the foreseeable future.
Paced Growth in Regional Economies to Establish North America’s Market Dominance
North America is expected to emerge as the dominant region in the water soluble film market owing to its thriving packaging, pharmaceutical, and textile industries. Key contributors to such developments are economies such as the USA. The economy has showcased paced growth and recovery after the global pandemic, and it is expected to maintain its strong economic growth trajectory in the coming years. This shall funnel down to create promising opportunities in the water soluble film end-use industry, and finally create growth prospects for the regional water soluble film market.
Major Market Players
Some of the most prominent players in the global water soluble film market include KK NonWovens, Huntingdon Fusion Techniques HFT, Acedag Limited, Soltec Development Inc., Soluble Technology Ltd, Sigma-Aldrich Co. LLC, Polatechno Co., Ltd., Nissin Corporation, INFHIDRO, and 3M.
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