The global water soluble films market was valued at US$ 268.9 Mn in 2017, and is expected to be valued at US$ 403.7 Mn in 2026.
The global water soluble films market is characterized by the growing demand for water soluble film from various end uses such as detergents, laundry bags, and agrochemicals. Due to the benefits offered by water soluble films in different industries, these are preferred over other films. Consumer demand is also rising due to growing disposable income, worldwide. The market is also marked with advancements in manufacturing technology. Also, the adoption of sustainable packaging by the packaging industry further drives the water soluble films market. Water soluble films are composed of polyvinyl alcohol (PVA) material. PVA material is a water soluble resin. All the substances are biodegradable and it does not contain heavy or toxic substances. Water soluble film dissolves completely in cold and hot water. The increase in the prices of polyvinyl alcohol (PVA) resins acts as a restraint for the water soluble films market.
The global water soluble films market is expected to expand at a CAGR of 4.6% in terms of market value during the forecast period 2018-2026. The global market is observed to generate revenues primarily driven by the end use – detergents.
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Key market characteristics observed in the global market for water soluble films include the high demand for private label brands and various expansion activities made by key players in the water soluble films market. The demand for water soluble films from sectors other than detergents is also rising. The market volume for global water soluble films is expected to expand 1.4X during the forecast period 2018-2026.
Transparency Market Research, in its report titled ‘Water Soluble Films Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026’, has segmented the global water soluble films market by thickness, end use, and geographic region.
On the basis of thickness, the global water soluble films market is segmented into Below 30 Micrometer, 30-60 Micrometer, and Above 60 Micrometer. 30-60 Micrometer is the leading segment with a market share of over half of the global market in 2018. The Below 30 Micrometer segment is expected to emerge as the fastest growing segment in the market, owing to their increasing uptake.
The global water soluble films market is segmented geographically into five key regions – North America, Latin America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). North America and Europe emerge as the largest markets for water soluble films, while Latin America, Middle East & Africa. and Asia Pacific are projected to grow at a rapid pace during the forecast years.
Demand for Use in Several End-use Sectors to Drive Water Soluble Films Market
The global water soluble films market is likely to be driven by the rising demand for these films from end use sectors, such as agrochemicals, laundry bags, and detergents. Advantages offered by water soluble films in several industries make then suitable for use across many applications. Progress made in the manufacturing technology is expected to drive the demand for these films as well. In addition, increasing disposable income of people is foreseen to come up as another important growth factor for the global water soluble films market.
Water soluble films that are made from natural polymers have an important role to play in packaged food items. It is more beneficial for packaged items that are less than 1% by weight. These films find use in the making of salad dressings and sauces. They assist in the prevention of separation of water and oil mixtures and also act as stabilizers. Such extensive use of the product is likely to foster growth of the global water soluble films market in the years to come.
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Demand to Ride on the Back of Growing Concern for Environmental Pollution Caused by Fertilizers
These films have many uses and across many industries, which is likely to sustain its demand in the near future. Water soluble films are utilized in the making of ice creams as these polymers are able to suppress ice crystals’ formation. In the process of making of chocolate milk, these natural polymers hold back cocoa powder in suspension. These films play the role of thickeners in cream cheese. All these uses are likely to foster expansion of the global water soluble films market in the forthcoming years.
The augmented use of these films in powdered chemical packaging, which is expected to add to the growth of the global water soluble films market. A rise in the demand for disinfectant and detergent is likely to raise demand for these films. Chemicals that are used in agriculture are extremely toxic and cause environmental pollution. In addition, leftovers of agricultural chemical packaging are disposed off in rivulets, rivers, or farms, which cause pollution in water and soil. Water soluble films are utilized to address the issue of environmental pollution, which is why many manufacturers of fertilizers are taking up packaging solution that are doses-based for agrochemicals.