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 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: Water soluble films are made from polymers like polyvinyl alcohol and polyvinyl acetate which can easily dissolve in cold or hot water without leaving residue. This property makes them eco-friendly and suitable for various applications. Being non-toxic they can be safely discharged into wastewater after use. The films exhibit good mechanical properties like tensile strength and durability.

Weakness: The production cost of water soluble films is higher than conventional plastic films. Raw materials required for their manufacturing are petroleum based which makes the overall process non-sustainable. Dependence on petrochemical feedstock prices poses supply risks.

Opportunity: Rising environmental concerns are driving demand for sustainable packaging solutions. Water soluble films are well-placed to replace many single-use plastic products. Their use in agriculture sector for fertilizer packaging, as well as in detergent pouches is growing steadily. Recent product innovations have enhanced properties like warmer water solubility.

Threats: Stiff competition from biodegradable bio-plastic films which offer similar advantages. Volatility in raw material costs can impact product prices. Implementation of strict regulations on plastic waste may reduce demand for conventional plastic films in future.

Key Takeaways

The Global Water Soluble Films Market Size is expected to witness high growth over the forecast period supported by rising adoption of sustainable packaging solutions. The Asia Pacific region currently dominates the market owing to high demand from countries like China, India and Japan. Major players have established manufacturing facilities in the region to cater to the vast opportunities.

Regional analysis: The Asia Pacific region is projected to grow at the fastest pace in water soluble films market during the forecast period. Rapid urbanization, growing middle class, and strong growth in industries like detergents, agriculture and pharmaceuticals in countries like China, India are fueling consumption. Domestic manufacturers are focusing on capacity expansions to meet rising local demand.

Key players: Key players operating in the 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. Mondi Group is one of the leading supplier of water soluble film globally with presence across major markets. Kuraray Co. Ltd. offers wide variety of PVA films for applications like unit dose packaging, horticulture products.

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