Ethylene-Vinyl Alcohol Copolymer Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

Description

Ethylene-Vinyl Alcohol Copolymer Market size was valued at USD 862.6 million in 2022 and is expected to grow at a CAGR of 5.4% from 2023-2029. Ethylene-Vinyl alcohol copolymer or EVOH is a crystal clear, flexible, and glossy thermoplastic copolymer with exceptional resistance to flex-crack, and very high resistance to oils, hydrocarbons, and organic solvents. It also has some of the finest barrier properties to gases such as nitrogen, oxygen, and carbon dioxide making it particularly suitable for packaging of drugs, food, cosmetics, and other delicate or perishable products to encompass shelf life. In comparison with numerous other common films, EVOH has higher barrier properties. Moreover, EVOH drops its good gas barrier properties when uncovered to moisture. For this purpose and to optimize both performance and cost, it is regularly used in co-extruded, multilayer films like PP, HDPE, and PET, which have greater properties for a moisture barrier. The fluctuating consumer preference toward flexible packaging can lead to the ethylene-vinyl alcohol copolymer market growth. Moreover, the sustainable and customer-friendly nature of EVOH packaging films and the widespread barrier and antistatic properties of EVOH packaging films are some primary factors that can boost the global ethylene-vinyl alcohol copolymer market growth. However, some factors such as the accessibility of substitutes which persuaded the consumers, and poor adhesion features of EVOH resins can restrain the growth of the market. The vulnerability to deprivation of high-barrier films and EVOH drops of its decent gas barrier properties when visible to humidity can hinder market growth. The growing consumer inclination towards sustainable and green packaging and increasing demand for advanced packaging solutions in the food and beverage industry can create an opportunity for the growth of the global ethylene-vinyl alcohol copolymer market share.

Recent Market Developments:

In February 2022, Arkema acquired Ashland’s Performance Adhesives business, which will bring more opportunity for the company and increases its market growth

In April 2022, Kuraray Co., Ltd was included in the ESG (environmental, social and governance) investment indexes: FTSE Blossom Japan Sector Relative Index designed by the global index provider FTSE Russell.