The global water soluble films market is expected to grow at a compound annual growth rate of 4.42% over the forecast period to reach a market size of US$512.793 million by 2024 from US$395.555 million in 2018. Increasing demand for biodegradable packaging of products owing to environmental concerns is expected to drive the market for water soluble films. Further increasing awareness among consumer coupled with stringent government laws is anticipated to boost the water-soluble films market. Moreover, the market is expected to grow owing to the soluble property of water-soluble films. Technological advancements are projected to create augment opportunities for the market. Major industries driving the market are detergents, agrochemicals, pharmaceuticals and food industry among others.
Rising demand for eco-friendly packaging.
Strict environment protection rules.
Growing developments in water soluble films.
The major players profiled in the water soluble films market include Mitsubishi Chemical Corporation, Aicello Corporation, Guangdong Proudly New Material Technology Corp, Arrow GreenTech Ltd., AMC (UK) Ltd., Sekisui Chemical Co. Ltd., Kuraray Co. Ltd, Changzhou Water Soluble Co.Ltd, Cortec Corporation, KK NonWovens, Amtrex Nature Care Pvt. Ltd., MSD Corporation, and Sekisui Chemical Co, Ltd.
The water soluble films market has been analyzed through the following segments:
Cold water-soluble films
Hot water-soluble films
Middle East and Africa