Global Water Soluble Films Market: Industry Analysis and Forecast (2020-2026)
Global Water Soluble Films Market size was valued at US$ XX Bn in 2019 and the total revenue is expected to grow at 5.5% through 2020 to 2026, reaching nearly US$ XX Bn.
The global Water Soluble Films market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Water Soluble Films report also provides trends by market segments, technology, and investment with a competitive landscape.
Global Water Soluble Films Market Overview:
Water soluble films are used for specific unit dose packaging of detergents, agrochemicals, water treatment chemicals, food ingredients, pharmaceutical drugs, and dyes. The increased usage in the powdered chemical packaging sector is expected to drive the market growth.
Global Water Soluble Films Market Dynamics:
Growing Pharmaceutical Industry
Pharmaceutical industry is growing rapidly in developing countries including Brazil, Russia, India, and China. Advanced manufacturing processes, technological innovations, and increased integration of companies have resulted in the rapid growth of the industry. This growth of the pharmaceutical industry is driving the water-soluble films market. Increasing income levels and growing awareness about the advantages of good healthcare systems and healthier lifestyles are supporting the growth of the market in these countries. A growing young population and higher life expectations are also the key factors that drive the market growth.
Increased demand from agriculture industry
The demand for better crop yield is increasing with the rise in population, and this has increased the focus on improving crop yield across the globe. Various agrochemicals are used, and safer as well as optimum dosage is required depending on the crop type. This in turn, to the growing demand for water-soluble film packaging. The water is used for irrigation which is treated with chemicals to essential nutrients to crops. Chemicals used in agriculture are toxic in nature and can cause pollution and endanger living being’s health. Thus, a limited or needed quantity in smaller packs can work efficiently while limiting pollution to the environment.
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.
High cost of production, increasing overall packaging cost, expert handling, and low market penetration is one of the major factors restraint market growth.
Global Water Soluble Films Market Segment Analysis:
By Type, the water soluble films market is segmented into Hot Water Soluble, Cold Water Soluble. The cold water soluble segment held the largest market share in 2019 and is expected to drive the segment during the forecast period. Detergent packaging is the largest application of this type.
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By Application, the market is segmented into detergent, agrochemical, water treatment chemical, dye, food, laundry bags, embroidery, and pharmaceutical packaging. The detergent segment accounts for the largest market and is expected to grow at a rapid pace during the forecast period thanks to water-soluble films are widely used for soluble small dose packaging of detergents. Water-soluble Film is formulated in a manner, which makes it compatible with the liquid detergent for purposes of packaging, shipping, storage, and usage. Water-soluble film technology is changing the way consumers clean dishes and laundry, and allows for packaging of concentrated detergents, using less formula for the same great results. These all factors expected to drive the market growth during the forecast period.
By Dissolution Rate, the market is segmented into fast soluble films, medium soluble films, and difficult soluble films. Fast soluble films segment account for the major market share in 2019 and is expected to propel the market growth during the forecast period.
Global Water Soluble Films Market 1
Global Water Soluble Films Market Regional Insights:
Increasing better living conditions in North America to drive the demand for water soluble films in the region
North America is projected to be the largest water-soluble film market during the forecast period. The rise in safety and better living conditions, along with the use of green products, is the driver for the water-soluble film market. The slow and steady economic growth in Europe also contributed to the growth of the water-soluble film market in various industries and consumer applications. The rising world population estimated to an increased focus on improving the crop yield with better use of agrochemicals all over the globe. This has resulted in the growth of water-soluble film in agrochemical packaging. The acceptance of water-soluble film is more in developed countries such as the US and the UK. The companies are also expanding in developing nations such as China and India, as these countries are highly populated and will give a first-mover advantage to the companies. Globally, there is an increasing awareness of the use of environment-friendly products, and the demand for biodegradable packaging has risen, which boosts the use of water-soluble film.
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 admiration in the US as the cost of disposal of such films is reduced. Monosol LLC (US), which 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.
The objective of the report is to present a comprehensive analysis of the global Water Soluble Films market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Water Soluble Films market dynamics, structure by analyzing the market segments and project the global Water Soluble Films market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Water Soluble Films market make the report investor’s guide.
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Global Water Soluble Films Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Water Soluble Films Market Key Players
• 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.
• Neptun Technologies GmbH
• Others
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