USA, Rockville MD, Aug. 04, 2022 (GLOBE NEWSWIRE) — According to Fact.MR’s latest report on ethylene vinyl alcohol (EVOH), the global market is valued at US$1.7 billion in 2022 and is projected to grow at a CAGR of 6.4% from 2022 to 2032. Market growth is attributed to factors such as pivoting demand from the packaging industry, where EVOH is widely used in the manufacture of films, sachets and bags.
Continued demand from the food and beverage industry, where EVOH is used in the packaging of various food products, including fresh foods, processed foods and baked goods, is poised to generate revenue higher in the long term. This is true because EVOH packaging allows food retailers and store owners to store perishables for a longer period of time, ensuring continued sales.
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In general, none of the common polymeric materials provide as high a barrier to various gases and vapors as long-term food storage requires. Although aluminum foil laminates provide a nearly perfect barrier when new, pinholes that develop during lamination, forming, filling, processing, transportation, storage and handling of packaging are very likely, and this is where EVOH packaging comes in handy.
Growing demand for food packaging and improved technologies are transforming the use of ethylene vinyl alcohol in industry. The increasing use of EVOH in the food processing industry has driven the growth of the market over the past few years. Ethylene vinyl alcohol is basically used to maintain the PH level and limit the atmospheric interaction with food and beverages, thereby boosting the market growth.
Key insights from market research
- Over the decade, standard-grade EVOH is expected to offer an absolute dollar opportunity of US$841.2 million.
- On the other hand, special grade EVOH is expected to hold 47.5% market share by 2032.
- By downstream form, film and sheet usage is projected to be valued at US$981.4 million by 2032.
- Among the end uses considered in scope, packaging is expected to remain the most attractive segment, with a CAGR of 6.5% to reach $992.3 million by 2032.
- By 2032, North America is projected to account for 19.5% of the global ethylene vinyl alcohol market share.
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Leading EVOH manufacturers should focus on global leadership in innovative solutions by leveraging their R&D capabilities to improve their geographic reach and appeal to a much wider audience.
Market players focus more on well-established distributors and offer them higher profit margins to push their products to market. Companies should focus on expanding the product line in untapped markets and seek to expand their presence in untapped segments to generate short-term revenue-generating opportunities through its continued use, especially in fresh foods and transformed.
Soarnol (Mitsubishi Chemical Corporation), Kuraray, Chang Chun Group, NSB Polymers, SK Functional Polymers and Reliance Industries Limited are the major manufacturers of ethylene vinyl alcohol.
Using their R&D capabilities to expand their product lines, encouraging business excellence and value-based product positioning, ethylene vinyl alcohol manufacturers should focus on achieving global leadership in innovative EVOH solutions.
Fact.MR has provided comprehensive insights into various business models leveraged by Ethylene Vinyl Alcohol (EVOH) market players, along with detailed analysis of Ethylene Vinyl Alcohol sales, major EVOH manufacturers, leading specialty/standard Ethylene Vinyl Alcohol suppliers, and SWOT analysis and sales generated from target products of leading Ethylene Vinyl Alcohol manufacturers.
EVOH Industry Research Segmentation
- By level:
- Standard EVOH
- EVOH specialty
- By Downstream Form:
- Films & Sheets
- Fuel tanks and containers
- Pipes and tubes
- Bottles and pouches
- By end use:
- Food and drinks
- Fresh products
- Bakery & Confectionery
- Processed foods
- Beauty products
- Food and drinks
- Fuel tanks
- Protective membranes
- Piping systems
- Landfill covers
- By region:
- North America
- Latin America
- East Asia
- Southeast Asia & Oceania
- Middle East and Africa
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More valuable information in offer
Fact.MR, in its new offering, presents an unbiased analysis of the Ethylene Vinyl Alcohol market, showcasing historical market data (2017-2021) and forecast statistics for the period 2022-2032.
The study reveals critical information based on grade (standard, specialty), downstream form (films and sheets (co-extruded, laminates), fuel tanks and containers, hoses and tubes, bottles and pouches) and the end use (packaging (food and beverages (fresh produce, bakery-pastry, agri-food), pharmaceutical, cosmetics, others), industrial (petrol tanks, protective membranes, pipes, landfill covers, others)), on six major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania, Middle East and Africa).
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