The global Water Soluble Films Market Growth Accelerated by Product Development and Innovation
Water soluble films are environmentally friendly packaging films used for various industrial and agricultural applications. They are made up of polyvinyl alcohol or a combinations of polyvinyl alcohols, commonly known as PVA. Water soluble films offer great advantages such as peelability, breathability and reduced use of plastic, while effectively enclosing products ranging from detergents and chemicals to agrochemicals.
The global Water Soluble Films Market is estimated to be valued at US$ 408.14 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the growth of the water soluble films market is ongoing product development and innovation. Manufacturers are focusing on developing innovative product formulations and designs to expand the scope of applications for water soluble films. They are investing in research activities to manufacture water soluble films from biodegradable polymers and materials. For instance, MonoSol, LLC produces water soluble films using polyvinyl alcohol modified with polyethylene glycol which has high resistance to moisture and tears. Similarly, Aicello Corporation offers water soluble PVA films incorporated with plasticizers that are highly stretchable and tear resistant. Such advancements are expected to support the adoption of water soluble films across various new application sectors going forward. This will likely have a positive impact on market growth over the forecast period.
Segment Analysis
The global water soluble films market is dominated by the packaging sub-segment. Water soluble films help eliminate the use of labels and provides improved operational efficiency in product packing and handling. These films readily dissolve in water, thus enabling hassle-free disposal of packages without leaving any trash. Their eco-friendly nature has propelled their usage in several end-use industries like detergents, agriculture, and pharmaceuticals for packaging applications.
Key Takeaways
The Global Water Soluble Films Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Water Soluble Films Market is estimated to be valued at US$ 408.14 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030.
Regional analysis shows that Asia Pacific region dominates the market and is expected to maintain its leading position throughout the forecast period. Countries like China, India, and Japan are major markets in the region due to the strong presence of pharmaceutical, chemical, and personal care industries.
Key players operating in the water soluble films market are Chattanooga International, Humares , Prime Pacific Health , Herrmann Apparatebau, Transcom, CleanColon Italy, Prometheus Group, Shenzhen Lifotronic Technology, PPHIC, Comba UK, Enteromed Group, Lifotronic, Dotolo Research , TECNO-GAZ. These players are focusing on expanding their production capacities and geographical reach to cater to the rising global demand.
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