Dublin, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The "Water Soluble Film Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global water soluble film market, which achieved a size of US$ 375.0 million in 2022, is poised for significant expansion. Analysts project the market to reach US$ 517.1 million by 2028, exhibiting a steady Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period of 2023-2028.
Key Market Insights:
What is Water Soluble Film: Water soluble film, also known as polyvinyl alcohol (PVA/PVOH) film, is a synthetic polymer that readily dissolves in water. It is characterized by properties such as being colorless, odorless, biodegradable, non-toxic, and possessing high tear and tensile strength. Water soluble films offer a range of benefits, including smooth mechanical operations, enhanced productivity, cost-effectiveness, and flexibility in packaging. Additionally, they provide high solvent resistance, gas barrier performance, excellent heat-sealing properties, and printability, making them versatile in various applications.
Driving Factors:
- Packaging Industry Growth: The burgeoning packaging industry is a significant driver as water soluble films find increasing use in packaging applications.
- Demand for Eco-Friendly Solutions: Growing concerns about eco-friendliness and sustainability are boosting the adoption of water soluble films as a packaging material.
- Ready-to-Eat (RTE) Foods: Hectic lifestyles and the demand for convenience are driving the use of water soluble films in packaging ready-to-eat (RTE) food items.
- Food Packaging: Water soluble films are used in food packaging, especially for candy, dried fruits, snacks, single-serve products like coffee and tea, and for preserving perishable foods like meat, poultry, and fish.
- Chemical Industry: Water soluble films are used to protect industrial workers from direct contact with hazardous materials, particularly in the chemical industry.
Market Segmentation:
- Material: PVA/PVOH, Xylan
- PVA/PVOH is the dominant material, favored for its biodegradability and suitability in various packaging applications.
- Application: Detergent Packaging, Agrochemical Packaging, Water Treatment Chemical Packaging, Pharmaceutical Packaging, Others
- Detergent packaging is a leading application due to the demand for single-use packs that reduce wastage and overdosing.
- End-Use Industry: Textile, Agriculture, Consumer Goods, Healthcare, Others
- Consumer goods drive significant demand as smaller unit dose packs gain popularity.
Regional Insights:
- Asia Pacific leads the market due to its growing packaging needs and eco-conscious consumer base.
Competitive Landscape:
The market is fragmented with several small and large players operating. Key companies 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., and Neptun Technologies GmbH.
COVID-19 Impact: The pandemic disrupted supply chains and affected production, but the impact was mitigated as providers managed supply chains to adapt to challenges.
Key Questions Answered:
- 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?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 136 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $375 Million |
| Forecasted Market Value (USD) by 2028 | $517.1 Million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/6pyks3
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
