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  • Published On : Nov 2022
  • Code : CMI5314
  • Industry : Advanced Materials
  • Pages : 175
  • Formats :

The global water soluble films market was valued at US$ 360.0 Mn in 2021 and is forecast to reach a value of US$ 644.7 Mn by 2030 at a CAGR of 6.3% between 2022 and 2030. The global water soluble films market is experiencing strong growth due to the rise in use of water soluble films or increase in applications of water soluble films and rise in demand for detergent and disinfectant across the world. Moreover, an increase in use of single and unit dose packaging in various end-use industries is expected to boost the growth of the market. However, factors such as high cost of water soluble film compared to conventional plastic films and supply chain disruptions due the global pandemic (COVID-19 outbreak) are expected to hamper the growth of the water soluble films market.

Global Water Soluble Films Market: Regional Insights

Based on geography, the global water soluble films market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increase in application of water soluble films and increase in production of single and unit dose packaging in various end-use industries in this region. For instance, water soluble films are often used for unit dose packaging in the pharmaceutical, food, chemical, and agriculture industry. In February 2022, in an attempt to curb the overwhelming plastic pollution of our oceans, Bioplastics International announced the launch of a water soluble replacement for petroleum based plastics. The film dissolves in water in minutes and does not leave behind any microplastics or any residues.

Asia Pacific is also expected to witness robust growth in the global water soluble films market due to the rise in use of single & unit dose packaging and rapid growth of the pharmaceutical industry in this region, especially in the India. For instance, according to the Economic Survey 2020-21, the Indian pharma industry is expected to expand to US$ 65 billion by 2024 and ~US$ 130 billion by 2030. Moreover, according to the India Brand Equity Foundation (IBEF), Indian drug and pharmaceutical exports stood at US$ 2,119.08 million in June 2022.

Regional Graph

Global Water Soluble Films Market Drivers:

Rise in use of water soluble films or increase in applications of water soluble films are expected to boost growth of the global water soluble films market over the forecast period. For instance, in September 2022, Bioplastics international developed world's first sugar cane alcohol water soluble PVA to replace plastics. It contains no plastic, no toxins, no heavy metals, no chemicals, and no bioplastic. Bioplastics International has launched a fossil fuel free water soluble film for petroleum based plastics to curb plastic pollution.

Surging demand for detergent and disinfectant across the world is expected to augment growth of the global water soluble films market during the forecast period.  For instance, water soluble films are often used to pack liquid laundry detergents, disinfectants, and washing powders. A film for detergent, disinfectant, and washing powder effectively dissolve in water. In July 2022, Unilever launched the newly designed capsule to help decarbonize the laundry process whilst delivering top cleaning performance. The new capsules set to prevent over 6,000 tons of plastic entering the waste stream every year.

Global Water Soluble Films Market Opportunities:

Focus of governments on green procurement policies is expected to provide significant growth opportunities for players in the global water soluble films market. Plastic waste is especially prevalent in cities or states where excessive packaging is used and ends up in surrounding seas and already overflowing landfills. The recent research has found that this is a problem that is truly global, from Asia Pacific to Europe and North America, plastic is everywhere. As a result, in August 2019, Hong Kong-based Hydroplast announced the development of ingenious water-soluble film to fight plastic waste.

Increasing usage in the powdered chemical packaging sector is expected to provide significant growth opportunities for players in the global water soluble films market. For instance, in November 2020, Ariel (Detergent Brand) launched single-use tablets called PODs. Ariel 3in1 PODs, launched in India, are pre-dosed washing capsules, filled with the liquid detergent. Ariel 3in1 PODs are designed innovatively, with a water-soluble film holding concentrated liquid detergent in 3 chambers.

Global Water Soluble Films Market Trends:

There has been an increase in demand for water soluble films for packaging chemical products to prevent direct human contact. Moreover, with the rapid growth of the chemical industry and rising investment by both manufacturers and governments, the demand for water soluble films is also increasing with a rapid pace. This trend is expected to continue over the forecast period, driving the growth of the water soluble films market.

Furthermore, there is an increasing demand for water soluble films from the packaging, food, pharmaceuticals, and textiles industry. The changing trends in consumer behavior and ease of manufacturer facilitation gave the industries the advantage of growing rapidly across the world, thereby further benefiting the water soluble films market.

Global Water Soluble Films Market Restraints:

High cost of water soluble film compared to conventional plastic films is expected to hamper the growth of the global water soluble films market. For instance, the production cost of water soluble film is 60-140% higher than conventional plastic films. This is mainly due to the high polymerization cost of biodegradable plastics, as most of the processes are still in development and have not yet achieved economy of scale.

Supply chain disruptions due the global pandemic (COVID-19 outbreak) is expected to hinder growth of the global water soluble films market. For instance, the nationwide lockdown and travel restrictions imposed by several governments to curb the spread of the virus have affected the demand and supply of packaging solutions. In short, the global pandemic has had a severe impact on the growth of the water soluble films market.

Segment Graph

Global Water Soluble Films Market Segmentation:

The global water soluble films market report is segmented into Type, Dissolution Rate, End-User Industry, and Geography.

Based on Type, the market is segmented into Cold Water-soluble Films and Hot Water-soluble Films. Out of which, Cold Water Soluble Films Segment is expected to dominate the global water soluble films market over the forecast period and this is attributed to the rise in production of single & unit dose packaging in pharmaceutical industry. Water soluble laundry bags are an important part of the pharmaceutical industry, they are vital to prevent the spread of infectious components. The bags dissolve completely, leaving no contaminated packaging waste.

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Water Soluble Films Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 2,080.6 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 9.3% 2030 Value Projection: US$ 3,883.4 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Type: Cold Water-soluble Films and Hot Water-soluble Films
  • By Dissolution Rate: Fast Soluble Films, Medium Soluble Films, and Difficult Soluble Films
  • By End-User Industry: Packaging, Textile, Pharmaceuticals, and Other End-user Industries
Companies covered:

Mondi Group, Kuraray Co. Ltd., Cortec Corporation, Arrow GreenTech Ltd., AMC (UK) Ltd., Aicello Corporation, Sekisui Chemical Co. Ltd., Neptun Technologies GmbH, and Mitsubishi Chemical Corporation, among others

Growth Drivers:
  • Rise in use of water soluble films in various end-use industries
  • Surging demand for detergent and disinfectant across the world
Restraints & Challenges:
  • High cost of water soluble film compared to conventional plastic films
  • Supply chain disruptions due the global pandemic (COVID-19 outbreak)

Figure 1. Global Water Soluble Films Market, By Type

Water Soluble Films  | Coherent Market Insights

Based on Dissolution Rate, the market is segmented into Fast Soluble Films, Medium Soluble Films, and Difficult Soluble Films. Out of which Fast Soluble Films Segment is expected to dominate the market over the forecast period and this is attributed to the increase demand for fast soluble films form various end-use industries. Fast soluble films found their majority of applications in the pharmaceutical industry

Medium Soluble Films Segment is also expected to witness robust growth in the near future and this is owing to the increase in applications of medium soluble films. It is the most used category of water soluble films for various applications and have relatively higher molecular weight polymer than fast soluble films.

Figure 2. Global Water Soluble Films Market, By Dissolution Rate

Water Soluble Films  | Coherent Market Insights

Based on End-User Industry, the water soluble films market is segmented into Packaging, Textile, Pharmaceuticals, and Other End-user Industries. Out of which Packaging Segment is expected to dominate the market over the forecast period and this is attributed to the rise in production of single & unit dose packaging. Packaging industry is one of the major consumer of these films as they are easy to use, while being completely soluble even in cold water.

Pharmaceuticals Segment is also expected to witness significant growth in the near future and this is owing to the rise in production of single & unit dose packaging in pharmaceutical industry. Water soluble films are used for specific unit dose packaging of pharmaceuticals.

Figure 3. Global Water Soluble Films Market, By End-User Industry

Water Soluble Films  | Coherent Market Insights

Global Water Soluble Films Market: Key Developments

In February 2020, Kuraray Co. Ltd. planned to establish the new production facility for PVA water-soluble films in Poland, Europe, to meet the demand for packaging films for unit dose detergents, pharmaceuticals, and other products.

In October 2020, Cortec Corporation announced that its patented EcoSol water soluble pouches are now being manufactured at the company's European bioplastics plant in Croatia to deliver and meet the needs of European and Asian customers.

Global Water Soluble Films Market: Key Companies Insights

The global water soluble films market is highly competitive. This is attributed to the focus of governments on green procurement policies, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global water soluble films market are:

Mondi Group, Kuraray Co. Ltd., Cortec Corporation, Arrow GreenTech Ltd., AMC (UK) Ltd., Aicello Corporation, Sekisui Chemical Co. Ltd., Neptun Technologies GmbH, and Mitsubishi Chemical Corporation, among others. 

*Definition: Water soluble film, both cold water soluble film and hot water soluble film, is a synthetic polymer and is soluble in water. These films are widely used for unit dose packaging of detergents, agrochemicals, water treatment chemicals, food ingredients, and others. Thus, there is an increasing demand for water soluble films.

Water soluble films are widely used for unit dose packaging of detergents, agrochemicals, food ingredients, pharmaceuticals, and water treatment chemicals. These films dissolve in the water within minutes, and leaves no toxic residue in the nature after its dissolution in water. These films are manufactured from polyvinyl resins and are synonymously called PVA/PVOH films. Water soluble films are ideal for a variety of packaging applications.

Market Dynamics:

Rise in use of water soluble films or increase in applications of water soluble films, increase in use of single and unit dose packaging in various end-use industries, focus of governments on green procurement policies, and increasing applications in the powdered chemical packaging sector are major factors expected to aid in the growth of the global water soluble films market.

For instance, in August 2022, TIPA and Aquapak teamed up to develop new compostable film solutions. TIPA will incorporate Aquapak’s water-soluble polymer technology with the aim of delivering high-barrier and PVDC-free compostable films for packaging. Moreover, in October 2020, Cortec Corporation announced that its patented EcoSol water soluble pouches are now being manufactured at the company's European bioplastics plant in Croatia to deliver and meet the needs of European and Asian customers.

Key features of the study:

  • This report provides in-depth analysis of the global water soluble films market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2030), considering 2021 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
  • It profiles key players in the global water soluble films market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
  • Key companies covered as a part of this study include Mondi Group, Kuraray Co. Ltd., Cortec Corporation, Arrow GreenTech Ltd., AMC (UK) Ltd., Aicello Corporation, Sekisui Chemical Co. Ltd., Neptun Technologies GmbH, and Mitsubishi Chemical Corporation, among others.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
  • The global water soluble films market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global water soluble films market.

Detailed Segmentation:

  • Global Water Soluble Films Market, By Type:
    • Cold Water-soluble Films
    • Hot Water-soluble Films
  • Global Water Soluble Films Market, By Dissolution Rate:
    • Fast Soluble Films
    • Medium Soluble Films
    • Difficult Soluble Films
  • Global Water Soluble Films Market, By End-User Industry:
    • Packaging
    • Textile
    • Pharmaceuticals
    • Other End-user Industries
  • Global Water Soluble Films Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Middle East and Africa
    • South America
  • Company Profiles:
    • Mondi Group
    • Kuraray Co. Ltd.
    • Cortec Corporation
    • Arrow GreenTech Ltd.
    • AMC (UK) Ltd.
    • Aicello Corporation
    • Sekisui Chemical Co. Ltd.
    • Neptun Technologies GmbH
    • Mitsubishi Chemical Corporation

Frequently Asked Questions

The global water soluble films market size is estimated to be valued at US$ 360.0 Million in 2021 and is expected to exhibit a CAGR of 6.3% between 2022 and 2030.
Rise in use of water soluble films or increase in applications of water soluble films and surging demand for detergent and disinfectant across the world is fueling the growth of the market.
Dissolution Rate segment is the leading component segment in the market.
High cost of water soluble films as compared to conventional plastic films and supply chain disruptions due the global pandemic (COVID-19 outbreak) are major factors restraining growth of the market.
Major players operating in the market are Mondi Group, Kuraray Co. Ltd., Cortec Corporation, Arrow GreenTech Ltd., AMC (UK) Ltd., Aicello Corporation, Sekisui Chemical Co. Ltd., Neptun Technologies GmbH, and Mitsubishi Chemical Corporation, among others.

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