Ethylene-vinyl Alcohol Copolymer (EVOH) Market By Grade (Standard Grade, Specialty Grade), By Application (Packaging, Films & Sheets, Fuel Tanks & Containers, Pipes & Tubes), By End-use Industry (Food & Beverages, Agricultural, Automotive, Cosmetics, Phar

Ethylene-vinyl Alcohol Copolymer (EVOH) Market By Grade (Standard Grade, Specialty Grade), By Application (Packaging, Films & Sheets, Fuel Tanks & Containers, Pipes & Tubes), By End-use Industry (Food & Beverages, Agricultural, Automotive, Cosmetics, Pharmaceuticals, Construction), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022-2028

The ethylene-vinyl alcohol copolymer (EVOH) market is set to expand significantly by 2028 due to the growing demand for packaged food & beverage products across the globe. In addition, mounting prominence of efficient solutions to protect products against external contaminants is likely to boost the uptake of EVOH in the forecast period.

The ethylene-vinyl alcohol copolymer is made of ethylene alcohol and vinyl alcohol with significant properties, such as effectiveness in restricting gases, longer shelf life, no to low preservatives requirement, and improved product attractiveness. The COVID-19 pandemic positively influenced the EVOH industry due to a rise in demand for packaged food attributed to changes in lifestyle and stringent lockdowns.

However, relaxations in lockdowns and increasing focus of key participants on expanding production capacity in line with effective growth strategies have boosted ethylene-vinyl alcohol copolymer (EVOH) market growth. For instance, in August 2021, Kuraray, a chemical manufacturing company, introduced EVAL SC, a novel grade of its EVAL gas barrier resin range that delivers better shrinkability and stretchability. The product supports biaxially-inclined multilayer films for food packaging use, consisting of shrink bags and skin packaging materials.

Furthermore, in March 2022, Kuraray joined hands with the 4evergreen alliance, a cross-industry packaging alliance, to produce circular concepts, particularly for fiber-based packaging. The 4evergreen alliance is working toward raising the recycling rate of fiber-based packaging to 90% in Europe by 2030. By joining the alliance, Kuraray agreed to contribute its experience, such as for developing uniform Europe-wide recycling standards.

The ethylene-vinyl alcohol copolymer (EVOH) market has been bifurcated based on end-use, grade, application, and region.

In terms of application, the industry has been further divided into films, fuel tanks and containers, packaging, pipes & tubes, and others. The pipes & tubes application segment is projected to grow at more than 5.6% CAGR over the assessment period. Moreover, the others application segment is expected to expand at a CAGR of around 3.5% through the review timeline.

With regards to end-use, the EVOH industry has been categorized into construction, agricultural, food & beverages, automotive, pharmaceuticals, cosmetics, and others. In 2021, the food & beverages segment registered over 55% market share. Meanwhile, the automotive segment is anticipated to grow at a CAGR of around 6.2% through the study timeframe. The construction segment is speculated to grow at approximately 6.1% CAGR over the review timeline.

In the regional landscape, the ethylene-vinyl alcohol copolymer (EVOH) market in Latin America is set to exhibit strong growth at around 6.0% CAGR through the forecast period. On the other hand, rising demand for food & beverage products is likely to accelerate the development of the EVOH market in the Middle East & Africa region.