The global water soluble films market is characterized by the growing demand for water soluble film from various end uses such as detergents, laundry bags, and agrochemicals. Due to the benefits offered by water soluble films in different industries, these are preferred over other films. Consumer demand is also rising due to growing disposable income, worldwide. The market is also marked with advancements in manufacturing technology. Also, the adoption of sustainable packaging by the packaging industry further drives the water soluble films market. Water soluble films are composed of polyvinyl alcohol (PVA) material. PVA material is a water soluble resin. All the substances are biodegradable and it does not contain heavy or toxic substances. Water soluble film dissolves completely in cold and hot water. The increase in the prices of polyvinyl alcohol (PVA) resins acts as a restraint for the water soluble films market.
The global water soluble films market is expected to expand at a CAGR of 4.6% in terms of market value during the forecast period 2018-2026. The global market is observed to generate revenues primarily driven by the end use – detergents.
Key market characteristics observed in the global market for water soluble films include the high demand for private label brands and various expansion activities made by key players in the water soluble films market. The demand for water soluble films from sectors other than detergents is also rising. The market volume for global water soluble films is expected to expand 1.4X during the forecast period 2018-2026.
Transparency Market Research, in its report titled ‘Water Soluble Films Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026’, has segmented the global water soluble films market by thickness, end use, and geographic region.
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On the basis of thickness, the global water soluble films market is segmented into Below 30 Micrometer, 30-60 Micrometer, and Above 60 Micrometer. 30-60 Micrometer is the leading segment with a market share of over half of the global market in 2018. The Below 30 Micrometer segment is expected to emerge as the fastest growing segment in the market, owing to their increasing uptake. The segment is expected to contribute around one-fifth to the market by 2026 end. On the basis of end use, the market is divided into Detergents, Agrochemicals, Laundry Bags, Cosmetics, Chemicals & Pharmaceuticals, and Others. Detergents is the leading segment with a market share of over 40% of the global market in 2018. The Agrochemicals segment is expected to emerge as the fastest growing segment in the market, owing to increasing use of water soluble films in agriculture. This segment is expected to contribute around one-third to the market by 2026 end.