Ethylene Vinyl Alcohol Copolymer Market to hit USD 1

Ethylene Vinyl Alcohol Copolymer Market to hit USD 1

Selbyville, Delaware, June 21, 2022 (GLOBE NEWSWIRE) —

The ethylene-vinyl alcohol copolymer market value is likely to reach USD 1 billion by 2028, according to a new research report by Global Market Insights Inc. Many EVOH grades are FDA-approved for food, medical, and pharmaceutical packaging applications due to their low odor, good chemical resistance, and inertness. As a result, the global market is likely to offer attractive prospects for film makers.

The widespread usage of EVOH in the food & beverage industry, particularly to avoid food contamination, is driving the demand for ethylene-vinyl alcohol copolymer in packaging films. Furthermore, these films have high barrier effect against gases and organic liquids and can be easily shaped into sheets, tubes, or bottles. The need for EVOH packaging films is projected to rise further owing to the demand for creative packaging solutions in the food and beverage industry as well as other industries to attract environmentally conscious consumers.

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Ethylene-vinyl alcohol copolymer market from agriculture segment is expected to grow with a CAGR of 4.3% during forecast timeframe. EVOH is highly resistant to oils and organic solvents. This property makes it suitable for agricultural chemicals. It is used as a barrier to agricultural pesticide and herbicide solvent. As ethylene vinyl alcohol polymer resists mineral oils, hydrocarbon fuels, and other organic solvents, it becomes an ideal material for the making of agricultural films. It also provides flexible packaging for agrochemicals, cereal, and pesticides.

Some of the major findings in the Ethylene-vinyl Alcohol Copolymer (EVOH) Market report include:

  • Packaging segment dominates the industry and will account for over 60% market share by 2028
  • Food & beverages segment is anticipated to witness CAGR of over 4.2% from 2022 to 2028.
  • Major players in the global EVOH market are working on new technology and R&D to expand product portfolio.

Browse key industry insights spread across 300 pages with 440 market data tables & 22 figures & charts from the report, “Ethylene-Vinyl Alcohol Copolymer Market By Grade (Standard Grade, Specialty Grade), Application (Packaging, Films & Sheets, Fuel Tanks & Containers, Pipes & Tubes), End-use Industry (Food & Beverages, Agricultural, Automotive, Cosmetics, Pharmaceuticals , Construction), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2028in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/ethylene-vinyl-alcohol-copolymer-evoh-market

Films segment will account for around 7% business share by 2028. EVOH is a crystal transparent, flexible, and has exceptional resistance to flex crack, hydrocarbons, organic solvents, and oils. EVOH has superior barrier qualities compared to other films. These films are frequently used in fresh produce when minimal permeability is needed.

Asia Pacific ethylene-vinyl alcohol copolymer market is anticipated to register a CAGR of 6% in the coming years. There is an increasing demand for ethylene-vinyl alcohol copolymer films in Asia Pacific, which is also expected to rise in the future. The presence of automotive manufacturing countries, such as Japan, China, and South Korea, generates a demand for ethylene-vinyl alcohol copolymers in fuel tanks & liners, which is another factor amplifying the EVOH market growth in Asia Pacific.

The key players in the ethylene-vinyl alcohol copolymer industry include Mitsubishi Chemical Corporation, Kuraray Co., Ltd., and Chang Chun Group. The rising application of standard and specialty EVOH in packaging and films is likely to enhance the overall market outlook. Furthermore, an upsurge in the food & beverages and cosmetics industries has pushed the demand for ethylene-vinyl alcohol copolymers.

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, US, is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


        

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