Water Soluble Films Market worth $476 million by 2025 | Key players Kuraray Co. Ltd., Sekisui Chemical Co. Ltd., Aicello Corporation, Arrow Greentech Ltd., Cortec Corporation.

According to recent market research the "Water Soluble Films Market by Type (Hot water Soluble, Cold Water Soluble) By Application (Detergent, Agrochemical, Water Treatment Chemical, Dye, Food, Laundry Bags, Embroidery, Pharmaceutical Packaging) - Global Forecasts to 2025" The water-soluble films market is projected to reach USD 476 million by 2025, at a CAGR of 5.5% from USD 364 million in 2020. Rapid urbanization and growing population in developing countries, such as Brazil, India, Indonesia, Malaysia, and China are resulting in high demand for food products. To meet this demand strong measures are taken to improve the agricultural output. The technological and economic resources are streamlined toward the improvement of crop production and protection which will have butterfly effect, and this will result in the growth of the agrochemicals packaging market as specific unit dosage can be packed depending on the crop type. Also, the increasing awareness toward the environment and use of eco-friendly products and government regulations for the use of bio-degradable products will drive the water-soluble film market, which is expected to witness an upward trend during the forecast period.

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Cold water-soluble films are designed to soluble in cold and room temperature water. The major applications are detergent packaging agrochemical packaging, embroidery, dye packaging, and water treatment chemical packaging. There are three sub-types of cold-water soluble films such as type Z, type C and type W, they are categorized based on water temperature. Type Z water soluble films can dissolve at 5o C and above, type C can dissolve at 15 degree C and above and type W can dissolve at 25oC and above. The cold-water soluble film is used in almost every application.

Detergent packaging application accounted for the maximum share in 2019, in the overall market, followed by agrochemical packaging. the detergent wastage can be minimized as pre-dose packets or sachets can be made available to consumer for household or industrial cleaning as well. The pre-dose packaging will avoid direct contact with detergent which will ensure safe usage. The water-soluble film is eco-friendly and dissolves in hot or cold water leaving no harmful residue. In North America, due to the increasing awareness for the use of green products, the water-soluble detergent packaging is projected to witness a steady growth along with European countries.

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North America is the largest market for water soluble films, followed by Europe and APAC. Mexico is the fastest-growing nation for water soluble films as the focus on agriculture is increasing in this country. Biodegradable films are gaining popularity in the U.S. market as the cost of disposal of the films has gradually reduced, while the profits accrued have increased. Monosol LLC, (U.S.), which was acquired by Kuraray Co. Ltd (Japan), is the leading water-soluble film manufacturing company and is focusing on increasing its market share in North America. The increasing awareness about the use of bio-degradable packaging to reduce carbon footprint is driving growth of the water-soluble film market.

The key market players profiled in the report include as Kuraray Co. Ltd. (Japan), Sekisui Chemical Co. Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), Aicello Corporation (Japan), Arrow Greentech Ltd. (India), Cortec Corporation (US), Changzhou Greencradleland Macromolecule Materials Co. Ltd. (China), Guangdong Water Soluble Proudly Co. Ltd. (China), Noble Industries (India), and AMC (UK) Ltd among others.

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Mitsubishi Chemicals Corporation is a Japan-based global player who manufactures chemical products. It is a major player in the production and selling of water soluble PVOH film. It operates under five business segments, namely, chemicals, performance products, industrial gases, health care, and others.
• In October 2018, Nippon Synthetic Chemical Industry Co., Ltd. merged with Mitsubishi Chemical Corporation. The merger is to expand the profits of the existing businesses and drive further growth of the associated businesses of Mitsubishi Chemical Corporation. Nippon Synthetic Chemical Industry Co., Ltd. was a wholly owned subsidiary of Mitsubishi Chemical Corporation that sold synthetic resin products.

Sekisui Chemical Co., Ltd. manufactures high-performance plastics for medical, automotive, information technology, and residential housing construction. The company operates through various business segments, namely, housing, urban infrastructure & environmental products, high-performance plastics, medical business, and others.

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