by The global water soluble film market demonstrated exceptional resilience and growth, surpassing the valuation of US$350 million in 2020. This upward trajectory is expected to continue in the coming years, driven by a diverse range of applications and increased demand for environmentally friendly packaging materials.
Broad Application Base Sustains Growth
Water soluble films, particularly those made from polyvinyl alcohol (PVOH), have emerged as a safe and eco-friendly packaging solution. PVOH films not only reduce shipping costs but also lower transportation emissions by using more concentrated ingredients. These films find widespread use in households and are integral to various industries, including medical and personal care (e.g., shampoo and shaving cream packaging), laundry and detergent packets, pool and spa chemicals, textile yarns, paper products, pharmaceuticals, and even contact lenses. The applications extend from dissolvable hospital laundry bags to advanced transfer printing and embroidery techniques, making them increasingly popular.
Ballooning Pharmaceutical Industry Drives Market Growth
The pharmaceutical sector, especially in developing nations, is experiencing rapid growth, attributed to advanced manufacturing techniques, technological advancements, and corporate integration. Countries like Brazil, Russia, India, and China (BRIC nations) are witnessing significant expansion in their healthcare systems, marked by substantial investments. For instance, Brazil, China, and India allocated approximately 9.5%, 5.1%, and 3.5% of their GDP to healthcare in 2019, reflecting an upward trend from 2015. Pharmaceutical companies are focusing their growth strategies on these emerging markets due to factors such as population growth, demographic shifts, increasing life expectancy, and rising costs in public healthcare systems.
Rise in Demand from Agricultural Industry
Population growth has intensified the need for higher food yields, drawing global attention to crop yield improvement. Water soluble film packaging has proven invaluable in the agricultural sector, where agrochemicals can be precisely dosed without removing the packaging. Additionally, water soluble films are used in chemical treatment of irrigation water, reducing environmental contamination. These films also have potential applications in packaging ready-to-eat foods, such as hot chocolate, soup, and powdered gravy mixes.
North America Leads the Way
North America, spearheaded by the United States, has emerged as a dominant consumer of water soluble films and is poised to exhibit the highest growth potential. The robust U.S. economy, characterized by a strong labor market and consumer trends favoring convenience, has fueled demand for water soluble films in industries like packaging, pharmaceuticals, and textiles.
Key Players in the Market
Several key players in the water soluble film market, including Huntingdon Fusion Techniques HFT, KK NonWovens, Sigma-Aldrich Co. LLC, Acedag Limited, Soltec Development Inc., Soluble Technology Ltd, 3M, Polatechno Co., Ltd., Nissin Corporation, and INFHIDRO, continue to innovate and drive the market forward.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/water-soluble-film-market
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This press release first seen on Brilad
COMTEX_442126476/2840/2023-10-19T11:11:13
Julian Lopez is professor emeritus of finance, served as the founding academic affairs dean and founding chair of the finance department.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.