Thanks to Increasing Usage of Green Products
Water soluble (PVA/PVOH) film is a biodegradable film and has water soluble quality, which is why it is largely used in water soluble small dose detergent packaging, agrochemicals, water treatment chemicals, dyes, and food. Other than these applications, it also finds its usage in embroidery and manufacturing of laundry bags. The water soluble film market showed a substantial growth in the recent years, and is continue to do so in the near future as well.
Key Driving Factors
Strict environment protection laws and regulations in North America and Europe are the main reasons driving the growth of this market. Since the government is focusing on environment-friendly ways for disposing agrochemicals, the need for safer, ease-of-use, and optimal usage of agrochemicals is also driving this market. Increasing awareness among masses about the need for bio-degradable raw materials or green products is another major factor that will further boost the usage of water soluble film.
Market Analysis and Forecasts
The water soluble film market is set to hit about $404.8 Million by 2020, advancing at an annual rate of 5.2% during the forecasted period. Having 35% of the market share out of all the regions, currently, North America is the largest as well as the fastest-growing market. If the applications segment is to be considered, detergent packaging ruled the market with over 37% of the market share in 2014. Agrochemical packaging is also expected to show a considerable growth during the estimated period.
The major companies operating in the global water soluble film market are Kuraray Co., Ltd. (Japan), Aicello Corporation (Japan), Sekisui Chemical Co., Ltd (Japan), The Nippon Synthetic Chemical Industry Co., Ltd (Japan), Arrow Coated Products Ltd. (India), and others.
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Scope of the Research
The market for water soluble films has been categorized on the based on the types of materials, application, and regions, which are further segmented as follows:
- Materials (Polyvinyl alcohol and xylan)
- Application (detergent packaging, agrochemical packaging, embroidery, laundry bags, and food packaging)
- Region (Asia-Pacific, North America, Western Europe, Eastern Europe, South America, and RoW)
