The global water soluble film market size reached US$ 395.6 Million in 2023. Looking forward, the market is projected to reach US$ 611.1 Million by 2032, exhibiting a growth rate (CAGR) of 4.95% during 2023-2032. The burgeoning packaging industry, increasing demand for small or unit dose packs for household items, and the growing concerns for protecting industrial workers from coming in direct contact with hazardous materials represent some of the key factors driving the market.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with several small and large players operating in the industry due to low product differentiation. The volume of new entrants is moderate in the water soluble film industry due to the presence of a large number of players, minimum capital investments, and easy access to distribution networks.
It also provides high solvent resistance, gas barrier performance and excellent heat-sealing properties, and printability. As a result, water soluble film is gaining traction in diverse applications, such as packaging agricultural chemicals and pharmaceuticals, printing curved surfaces, and as base materials for wigs and embroidery. It is also used for laminating, packaging, and wrapping applications in a wide range of industries across the globe.
Moreover, the movement of raw materials required for manufacturing water-soluble film, including polyvinyl alcohol (PVA), polyacrylic acid (PAA), ethane, polyoxyethylene glycol (PEG), sodium hydroxide (NaOH), auxiliary agent, and water also impacted the production of water soluble films. However, the impact is currently limited, as many providers are involved in managing the supply chain and overcoming the unprecedented pandemic effect.
Additionally, water soluble films are gaining immense popularity in the food and beverage (F&B) industry on account of their air- and oil-resistant properties, which are offering lucrative growth opportunities to key market players. Furthermore, governments of various countries are implementing stringent environmental protection laws and regulations, which is strengthening the market growth.
Besides this, leading market players are heavily investing in research and development (R&D) activities to introduce new products and enhance their existing product portfolio. They are also focusing on producing unique and advanced structures of technologies based on polymer, synthetic chemistry, and carbon material chemistry, with technologies and expertise, which is stimulating the growth of the market around the world.
In line with this, several detergent manufacturers are introducing single-use packs as a means to expand their customer base and avoid wastage and spillage by the end-user, which is catalyzing the demand for water soluble films. Furthermore, the growing environmental consciousness among consumers and the escalating need for green packaging solutions are also stimulating the market.
In addition, the continuous development of numerous manufacturing plants in the region is propelling the demand for water soluble film in the region. Furthermore, the introduction of green procurement policies by government bodies and shifting consumer preferences towards eco-friendly packaging materials, are driving the demand for water soluble film.
Escalating Demand for Water Soluble Film in Food Packaging Strengthening Market Growth
Presently, hectic working schedules and increasing demand for convenience and ready-to-eat (RTE) food items are increasing the demand for water soluble film. It is made from edible materials, such as starch and cellulose, which are safe for human consumption. In addition, it is used in the packaging of candy, dried fruits, and snacks, which eliminates the need for separate packaging and reduces waste. Moreover, it is employed for single-serve packaging of products, including coffee, tea, and hot chocolate. Additionally, water soluble film is utilized to wrap perishable foods, such as meat, poultry, and fish, for preserving their freshness and extending their shelf life.Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is fragmented with several small and large players operating in the industry due to low product differentiation. The volume of new entrants is moderate in the water soluble film industry due to the presence of a large number of players, minimum capital investments, and easy access to distribution networks.
- What is Water Soluble Film?
It also provides high solvent resistance, gas barrier performance and excellent heat-sealing properties, and printability. As a result, water soluble film is gaining traction in diverse applications, such as packaging agricultural chemicals and pharmaceuticals, printing curved surfaces, and as base materials for wigs and embroidery. It is also used for laminating, packaging, and wrapping applications in a wide range of industries across the globe.
COVID-19 Impact:
The COVID-19 pandemic outbreak imposed unprecedented challenges on manufacturing companies and led to a partial or complete shutdown of facilities. It also created a serious disturbance in the packaging sector and hampered the supply chains, which resulted in labor shortages and an increment in the price of raw materials. This further caused a significant drop in the production of water soluble film and order delays for the packaging companies.Moreover, the movement of raw materials required for manufacturing water-soluble film, including polyvinyl alcohol (PVA), polyacrylic acid (PAA), ethane, polyoxyethylene glycol (PEG), sodium hydroxide (NaOH), auxiliary agent, and water also impacted the production of water soluble films. However, the impact is currently limited, as many providers are involved in managing the supply chain and overcoming the unprecedented pandemic effect.
Water Soluble Market Trends
At present, water soluble films are employed in the packaging of disinfectants and detergents on account of their non-toxic and biodegradable properties. They also facilitate a barrier for odor, aromas, bacteria, and gases. Product benefits, in confluence with the burgeoning packaging industry and increasing demand for water soluble films as a sustainable and eco-friendly packaging material, represent one of the key factors positively influencing the market across the globe. In addition, the widespread adoption of water soluble films in the chemical industry for protecting industrial workers from coming in direct contact with hazardous materials is bolstering the market growth.Additionally, water soluble films are gaining immense popularity in the food and beverage (F&B) industry on account of their air- and oil-resistant properties, which are offering lucrative growth opportunities to key market players. Furthermore, governments of various countries are implementing stringent environmental protection laws and regulations, which is strengthening the market growth.
Besides this, leading market players are heavily investing in research and development (R&D) activities to introduce new products and enhance their existing product portfolio. They are also focusing on producing unique and advanced structures of technologies based on polymer, synthetic chemistry, and carbon material chemistry, with technologies and expertise, which is stimulating the growth of the market around the world.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global water soluble film market report, along with forecasts at the global and regional level from 2024-2032. The report has categorized the market based on material, application and end-use industry.Material Insights:
- PVA/PVOH
- Xylan
Application Insights:
- Detergent Packaging
- Agrochemical Packaging
- Water Treatment Chemical Packaging
- Pharmaceutical Packaging
- Others
End-Use Industry Insights:
- Textile
- Agriculture
- Consumer Goods
- Healthcare
- Others
In line with this, several detergent manufacturers are introducing single-use packs as a means to expand their customer base and avoid wastage and spillage by the end-user, which is catalyzing the demand for water soluble films. Furthermore, the growing environmental consciousness among consumers and the escalating need for green packaging solutions are also stimulating the market.
Regional Insights:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
In addition, the continuous development of numerous manufacturing plants in the region is propelling the demand for water soluble film in the region. Furthermore, the introduction of green procurement policies by government bodies and shifting consumer preferences towards eco-friendly packaging materials, are driving the demand for water soluble film.
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global water soluble film market.Some of the companies covered in the report include:
- 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
Key Questions Answered in This Report
- How has the global water soluble film market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global water soluble film market?
- What is the impact of each driver, restraint, and opportunity on the global water soluble film market?
- What are the key regional markets?
- What is the breakup of the market based on the material?
- Which is the most attractive material in the water soluble film market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the water soluble film market?
- What is the breakup of the market based on the end-use industry?
- Which is the most attractive end-use industry in the water soluble film market?
- What is the competitive structure of the global water soluble film market?
- Who are the key players/companies in the global water soluble film market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis
2 Scope and Methodology
4 Introduction
5 Global Water Soluble Film Market
6 Market Breakup by Material
7 Market Breakup by Application
8 Market Breakup by End-Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porter’s Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 135 |
Published | April 2024 |
Forecast Period | 2023 - 2032 |
Estimated Market Value ( USD | $ 395.6 Billion |
Forecasted Market Value ( USD | $ 611.1 Billion |
Compound Annual Growth Rate | 4.9% |
Regions Covered | Global |
No. of Companies Mentioned | 15 |