Kuraray Co. Ltd. (Japan) and Mitsubishi Chemical Corporation (Japan) are the Key Players in the Water Soluble Films Market
The water soluble films market size is projected to reach USD 476 million by 2025 from USD 364 million in 2020, at a CAGR of 5.5%. growing demand for convenience food items is expected to support the growth of the water soluble films market. However, higher cost of water soluble films is restraining the growth of the market. On the other hand, edible water soluble films has created opportunities for manufacturers.
Kuraray Co. Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), Sekisui Chemical Corporation (Japan), Aicello Corporation (Japan), and Arrow Greentech Ltd. (India) are the major players in this market.
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Kuraray Co. Ltd. is one of the the largest players in the water soluble films market. It has a strong brand name in the industry. Kuraray Co. Ltd. is a Japan-based chemical fiber company founded for the purpose of commercializing synthetic rayon. It later expanded its business into high-performance fibers, resins, and chemicals. It offers different products & services through six reportable business segments.
- Recently, in July 2020, new production facility in Lebanon, Indiana (US) has been inaugurated. The company now has four factories in Indiana, including one in LaPorte and two in Portage
- In November 2019, division, MonoSol, announced its further expansion into the European market with the addition of its new manufacturing facility in Poland for manufacturing polyvinyl alcohol (PVA) water-soluble films. The plant will be located at Ujazd, part of the Katowice Special Economic Zone.
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.
Related Reports:
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
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