Water Soluble Films Market is Expected to be Flourished by Increasing Usage in Agriculture and Chemical Industry Applications

Water soluble films are biodegradable plastic films that dissolve in water. They find major applications in packaging such as bouillon cubes, laundry detergents, etc. where the packaging needs to be removed before use without leaving any waste. The films offer consumers a convenient way of using the product and then easily disposing of the packaging in water. They are manufactured using polyvinyl alcohol (PVA), which is water soluble, as a raw material. Other common water soluble resins used are polyvinyl acetate (PVA), ethylene maleic anhydride copolymer (EMA), polyvinyl pyrrolidone (PVP) and starch blended with PVA.

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 Dynamics:
One of the major drivers favoring the growth of the water soluble films market is the increasing usage of these films in agriculture and chemical industry applications. Water soluble films are widely used as fertilizer bags, agrochemical packaging etc. in the agriculture industry. Their use ensures controlled and slow release of nutrients and agrochemicals into the soil. In chemical industry, they are used for packaging of detergents, surfactants and other cleaning products. As highlighted in the heading, their ease of dissolving without leaving any waste makes them appealing for these applications. Another key driver is the stringent environmental regulations regarding use of plastics. Water soluble films are biodegradable and environmental friendly which is boosting their adoption over conventional plastic films.

Segment Analysis
The water soluble films market is segmented based on application into laundry, detergent packaging, agro-chemical packaging, pharmaceutical packaging, food packaging, and others. The detergent packaging segment dominates the market and accounted for over 30% of the overall market share in 2022. Water soluble films are widely used in detergent packaging as they helps in preventing moisture from entering the packet thereby maintaining detergent quality and shelf life.

PEST Analysis

Political: Government regulations regarding use of single-use plastic are supporting growth of water soluble films. Many countries have imposed bans on plastic packaging to reduce pollution. This is favoring adoption of water soluble films for packaging applications.

Economic: Rising per capita income is boosting demand for packaged food and beverages globally. Growth of end-use industries such as pharmaceutical, food, and detergent is positively impacting the water soluble films market.

Social: Increasing health awareness among consumers regarding benefits of water soluble films over traditional plastics is a key factor driving their adoption. Water soluble films have lower environmental impact as they dissolve in water.

Technological: Key players are investing in R&D to develop innovative water soluble film formulations with improved properties. Advanced manufacturing technologies are helping reduce production costs and enhance performance characteristics of water soluble films.

Key Takeaways

The Global Water Soluble Films Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for water soluble films was valued at US$ 408.14 Mn in 2023 and is projected to reach over US$ 800 Mn by 2030, rising at a CAGR of 9.8% during the forecast period.

Regional analysis: Asia Pacific dominated the global market and accounted for over 35% share in 2023. Growing population, rising disposable income, and high demand from packaging industry are driving growth of water soluble films in Asia Pacific region. China represents the largest market followed by India. North America and Europe are also significant markets for water soluble films.

Key players: 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.

For more details on the report, Read- https://www.pressreleasebulletin.com/water-soluble-films-market-demand-share-analysis/