Asia Pacific water soluble packaging grow to $1,022 million by 2027
According to a Market Study Report, the Asia Pacific market was valued at US$639.9 million in 2018 and is projected to reach US$1,022.3 million by 2027; it is expected to grow at a CAGR of 5.3% from 2019 to 2027.
Water soluble packaging refers to the type of packaging made from biodegradable materials that dissolve in water leaving behind harmless and non-toxic aqueous solution.
It is best suited for water owing to its better solubility in water with minimum residue and good impact resistance. However, water soluble packaging is manufactured in different grades, including cold water and hot water soluble PVA grades.
Water soluble packaging products such as films, bags and pouches are manufactured using polyvinyl alcohol (PVOH), which is a synthetic polymer highly soluble in water. Water soluble packaging is mainly used in the packaging of dyes, detergents, agrochemicals, and other industrial chemicals. Additionally, they are used in the manufacture of disposal bags, laundry bags, and shopping bags.
Water-soluble packaging is considered to be an environment friendly alternative over single-use plastic. The growth in various industries and factories has increased the demand for a sustainable packaging solution over the past few years. As the packaging industry has the biggest impact on the environment, the demand for eco-friendly packaging solutions drives the growth of water soluble packaging market.
Based on raw material, the Asia Pacific water soluble packaging market has been segmented into polymers, fibers, and surfactants. In 2018, the polymers segment held the largest share of the Asia Pacific water soluble packaging market; however, the fibers segment is expected to grow at the highest CAGR during the forecast period. Water soluble polymers are environmentally biodegradable and thus help in effective waste management and environmental protection.
Polymers are extensively used in the production of water soluble packaging products such as bags, pouches, pods, and films. For instance, polyvinyl alcohol (PVA or PVOH) is used in manufacturing water soluble bags and films, as it dissolves fast when it comes into contact with water. Furthermore, its biodegradable and non-toxic properties propel its usage in the water soluble packaging production.
Fiber-based packaging utilizes reusable, renewable, and biodegradable materials in the process of production. Fibers such as seaweed and collagen are used as a raw material in the production of water soluble packaging.
Surfactants are one of the key raw materials used in the production of water soluble packaging products such as films, bags, and pouches. Surfactants provide smooth process ability in the production of water soluble films.
It provides ease of separation of the formed film from the metal surface of the drum and also acts as an anti-blocking agent. Two types of surfactants are added during the production of water soluble packaging which includes anionic and non-ionic surfactants. More than 2% of surfactant leaches out of the surface of the water soluble film and acts to cause blocking, which leads to deterioration in handling properties of the water soluble film.
Cortec Corporation, Harke group, Smart Solve Industries, Kuraray Co., Ltd, Sekisui Chemical Co., Ltd, Mitsubishi Chemical Corporation, Jiangmen Cinch Packaging Materials Co., Ltd., Changzhou Kelin PVA Water Soluble Films Co., Ltd. and Mondi Group are among the major players in the Asia Pacific water soluble packaging market.