CHICAGO, Aug. 20, 2024 /PRNewswire/ -- The report "Water Soluble Films Market by Type (Cold, Hot), Application (Detergent Packaging, Agrochemical Packaging, Water Treatment Chemical Packaging, Dye Packaging, Food Packaging, Laundry Bags, Embroidery, Pharmaceutical) - Global Forecast to 2029", size was USD 441.8 million in 2024 and is projected to reach USD 586.4 million by 2029, at a CAGR of 5.8%, between 2024 and 2029.
Many factors, such as growing environmental consciousness, technical developments, economic concerns, regulatory pressures, the growth of e-commerce, and the growing requirements of the healthcare and agricultural sectors, are driving the market for water soluble films. Governments are enforcing strict laws to deter the use of plastic and promote the use of biodegradable alternatives. Manufacturers have been required to change and provide alternatives for traditional packaging to fulfill the shifting needs of health-conscious consumers. The continued efforts of the companies in research and development have established the water-soluble films as a competitive alternative to traditional packaging materials for industries looking for sustainable solutions.
Browse in-depth TOC on "Water Soluble Films Market"
215 - Tables
50 - Figures
210 - Pages
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Cold water soluble films segment is projected to register the highest CAGR, in terms of value, of the global water soluble films market during the forecast period.
The market position of cold water soluble films is attributed to its technological improvements. Advancements in polymer chemistry have produced films that are more durable, moisture resistant, and soluble in cold water. Owing to these developments, a wider variety of products, particularly those requiring longer shelf lives or moisture protection during storage and transportation, can now be packed using cold water soluble films. These films are now more widely available and more reasonably priced due to the manufacturers' ability to create them in large quantities for a variety of sectors.
Agrochemical packaging is estimated to be the second-largest application of water soluble films market, in terms of value, during the forecast period.
The agrochemical packaging segment is the second-largest application in the water soluble films market. Water soluble films adoption in the agriculture sector is growing in significance for market expansion since these films are used for many vital applications, including seed coatings, pesticide delivery, and agricultural input packaging. Its capacity to lessen environmental contamination by releasing chemicals only when required is what makes water soluble films attractive in agriculture. This controlled release system reduces waste, protects any agrochemical overuse, and guarantees that these chemicals are applied precise. This not only increases the effectiveness of farming operations but also lessens the possibility of detrimental runoff, which can contaminate the land and water.
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South America is projected to register the second highest CAGR, in terms of value, during the forecast period in the water soluble films market.
South America is projected to register the second highest CAGR in the water soluble films market, in terms of value, during forecast period due to several factors. The region's economic growth is one of the primary drivers of the water soluble films market's anticipated high growth rate in South America. The countries like Brazil, Argentina, and Chile, have seen consistent economic growth in recent times. The expansion of several industries, such as consumer goods, medicines, and agriculture, which are all major users of water soluble films, is a result of this economic progress, in turn driving the market for water soluble films.
The key players profiled in the report Mitsubishi Chemical Group Corporation (Japan), SEKISUI CHEMICAL CO., LTD. (Japan), KURARAY CO., LTD. (Japan), AICELLO CORPORATION (Japan), Ecopol S.p.A. (Italy), Arrow GreenTech Ltd. (India), Cortec Corporation (US), Changzhou Greencradleland Macromolecule Materials Co., Ltd. (China), Jiangmen Proudly Water-soluble Plastic Co., Ltd. (China), AMC (UK) Ltd. (UK), and Noble Industries (India).
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