Global Ethylene-vinyl Alcohol Copolymer Market Insights Forecasts to 2030
- The global Ethylene-vinyl Alcohol Copolymer market was valued at USD 840 million in 2021.
- The market is growing at a CAGR of 5.4% from 2021 to 2030
- The global Ethylene-vinyl Alcohol Copolymer market is expected to reach USD 1348.48 million by 2030
- Asia-Pacific is expected to grow the fastest during the forecast period
The Global Ethylene-vinyl Alcohol Copolymer Market is expected to reach USD 1348.48 million by 2030, at a CAGR of 5.4% during the forecast period 2021 to 2030. The Ethylene-vinyl Alcohol Copolymer market has been growing as manufacturers focus on adopting greener packaging solutions, which support market growth in Europe and North America.
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This research report categorizes the market for Ethylene-vinyl Alcohol Copolymer based on various segments and regions and forecasts revenue growth and analyzes trends in each of the submarkets. The report analyses the key growth drivers, opportunities, and challenges that influence the Ethylene-vinyl Alcohol Copolymer market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included in order to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Ethylene-vinyl Alcohol Copolymer market.
Ethylene-vinyl alcohol copolymers are made using a two-step process that combines polymerization and saponification. Ethylene and vinyl acetate are polymerized with the aid of an initiator and activator mixture. To create EVOH, the ethylene-vinyl acetate copolymer is saponified. These have great qualities such as excellent permeability, superior gas barrier resistance, antistatic, brilliance and clarity, and resistance to oil and organic solvents. These characteristics make EVOH useful for a variety of end uses, including the food and beverage, cosmetics, pharmaceutical, automotive, and construction sectors. The exploding use of EVOH in packaging films has further fueled the industry's growth. Furthermore, it is anticipated that the market for ethylene-vinyl alcohol copolymers will expand in response to the growing demand for packaging films in the food and beverage, pharmaceutical, and cosmetics sectors. The market for ethylene-vinyl alcohol copolymers is anticipated to expand significantly over the course of the forecast period because of the industry's growing use of these materials for product packaging. Due to its high oxygen barrier qualities, which make it ideal for packaging perishable goods, EVOH is experiencing an increase in demand. Additionally, the expanding construction sector, which is concentrated in developing nations like those in the Middle East and the Asia Pacific, will present new potential for the sector to thrive. In several places, the growth of the construction industry is being supported by increased attention to infrastructure development. The rising construction industry is primarily driven by increasing trends in commercial real estate construction and roads. Due to expanding economic activity, population expansion, and a lack of available land, the demand for high-rise structures has surged in the Middle East region, boosting market figures. The COVID-19 pandemic has hampered the global market expansion for ethylene-vinyl alcohol copolymers. The lack of basic ingredients like ethylene and vinyl acetate is mostly to blame. Petroleum or natural gas are the primary sources of ethylene production. Due to governments' implementation of social and travel restrictions and supply reduction in major global petrochemical manufacturing centers, the petrochemical industry has been severely impacted. The packaging industry's sharp increase in demand for ethylene-vinyl alcohol copolymers has pushed the industry landscape even further.
Global Ethylene-vinyl Alcohol Copolymer Market Report Coverage
|Market Size in 2021:||USD 840 Million|
|Forecast Period:||2021 - 2030|
|Forecast Period 2021 - 2030 CAGR:||5.4%|
|2030 Value Projection:||USD 1348.48 Million|
|Historical Data for:||2017 - 2020|
|No. of Pages:||198|
|Tables, Charts & Figures:||137|
|Segments covered:||By Grade, By Application, By End-users, by Region|
|Companies Covered:||Schur Flexibles Holding GesmbH, Coveris, Mitsubishi Chemical Holdings Corporation, KURARAY CO., LTD.KUREHA CORPORATION, Arkema, Chang Chun Group, ProAmpac, MULTIFLEX FOLIEN GMBH & CO. KG, Vishakha Polyfab Pvt Ltd, International Plastic Engineering Co., Ltd, Verpackungen GmbH, Plastissimo Film Co., Ltd, Zhongsu New Materials Technology|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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- In 2021, the specialty grade-based Ethylene-vinyl Alcohol Copolymers segment dominated the market with the largest market share of 63% and market revenue of 529.2 million.
Based on the grade, the ethylene-vinyl alcohol copolymer market is categorized into standard and specialty grades. In 2021, the specialty grade segment dominated the market with the largest market share of 63% and market revenue of 529.2 million. Superior qualities like enhanced thermoformability and stretchability for sheet forming, great flex resistance and crack resistance, an increased grade for impact resistance, and decreased whitening and delamination during the retort process are driving the market's expansion. The construction industry is the primary user of this grade. Specialty grade can be employed as an oxygen barrier component in underfloor heating pipes since it has greater thermal durability characteristics. Ethylene-vinyl alcohol copolymer market expansion is probably driven by the expanding construction industry, particularly in nations like India, China, Brazil, and Indonesia.
- In 2021, the packaging segment accounted for the largest share of the market, with 31% and market revenue of 260.4 million.
Based on application, the ethylene-vinyl alcohol copolymer market is categorized into packaging, pipes & tubes, films & sheets, and fuel tanks & containers. In 2021, the packaging segment dominated the market with the largest market share of 31% and market revenue of 260.4 million. One of the main factors influencing the prognosis for the ethylene-vinyl alcohol copolymer market is the rising popularity of goods in the packaging applications of numerous industries, including food and beverage, cosmetics, and pharmaceuticals. The popularity of EVOH has increased due to consumers' growing preference for eco-friendly packaging. These are moreover utilized in barrier packaging to allay client worries about food waste and to stop illnesses brought by contaminated food. The need for EVOH in packaging applications has increased because of the growth in demand for packaged food products worldwide.
- In 2021, the pharmaceuticals segment accounted for the largest share of the market, with 22% and a market revenue of 184.8 million.
Based on end-users, the ethylene-vinyl alcohol copolymer market is segmented into food & beverages, agricultural, cosmetics, pharmaceuticals, construction, and automotive. In 2021, the pharmaceuticals segment dominated the market with the largest market share of 22% and market revenue of 184.8 million. To extend the shelf life of clinical and pharmaceutical products such as ampoules and parenteral nutrient bags, EVOH is used. They contain inhibitors that prevent the production of propanol and methylpropylbenzene, which are used to make various medicines, such as tert-butyl benzene, oxygenated aromatics, and isobutyl benzene. These are used in an interventional radiology liquid embolic system. It works well to embolize blood arteries when combined with any radiopaque compound and dissolved in dimethyl sulfoxide. Several pharmaceuticals are packaged using it as well because of its barrier qualities.
Regional Segment Analysis of the Ethylene-vinyl Alcohol Copolymer Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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North America emerged as the largest market for the global Ethylene-vinyl Alcohol Copolymer market, with a market share of around 32.4% and 272.16 million of the market revenue in 2021.
- North America emerged as the largest market for the global Ethylene-vinyl Alcohol Copolymer market, with a market share of around 32.4% and 272.16 million of the market revenue in 2021. The growing consumer preference for green packaging will increase market share in North America. Another reason driving product demand in the region is the expanding automotive industry, particularly in the U.S., since it is proving appropriate for automotive applications. To lessen radon exposure, these are also used in the construction industry. Another element driving the North American market size is the rise in construction activity in the area, which is predicted to continue at a high level in the future.
- The Asia-Pacific market is expected to grow at the fastest CAGR between 2021 and 2030. In Asia, there is a rising need for ethylene-vinyl alcohol copolymer films, which is also anticipated to increase in the future. Another reason boosting the growth of the ethylene-vinyl alcohol (EVOH) market in the Asia Pacific is the existence of nations that produce automobiles, such as Japan, China, and South Korea, which creates a demand for ethylene-vinyl alcohol copolymers in fuel tanks and liners.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Ethylene-vinyl Alcohol Copolymer market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players:
- Schur Flexibles Holding GesmbH
- Mitsubishi Chemical Holdings Corporation
- KURARAY CO., LTD.
- KUREHA CORPORATION
- Chang Chun Group.
- MULTIFLEX FOLIEN GMBH & CO. KG
- Vishakha Polyfab Pvt Ltd
- International Plastic Engineering Co., Ltd
- Verpackungen GmbH
- Plastissimo Film Co., Ltd
- Zhongsu New Materials Technology
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- In February 2022, Arkema announced that they have acquired Ashland’s Performance Adhesives business, which is a premier innovator of high-performance adhesives in the United States. The strengthening of Arkema's Adhesive Solutions division is being done in large part through this activity. The company will have greater opportunities as a result of this acquisition, which will also boost the market growth.
- In February 2022, Arkema is set to expand its engineering adhesives segment by acquiring Shanghai Zhiguan Polymer Materials in China. Hot-melt adhesives for the consumer electronics sector are PMP's area of expertise. This project is consistent with Bostik's objective to strengthen its position in the lucrative engineering adhesives industry and to quicken the development of its electronics business in the Asian area. This will improve the company's standing in the marketplace.
This study forecasts revenue at global, regional, and country levels from 2021 to 2030. Spherical Insights has segmented the global ethylene-vinyl alcohol copolymer market based on the below-mentioned segments:
Ethylene-vinyl Alcohol Copolymer Market, By Grade
- Standard Grade
- Specialty Grade
Ethylene-vinyl Alcohol Copolymer Market, By Application
- Pipes & Tubes
- Films & Sheets
- Fuel Tanks & Containers
Ethylene-vinyl Alcohol Copolymer Market, By End-Users
- Food & Beverages
Ethylene-vinyl Alcohol Copolymer Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
What is the market size of the Global Ethylene-vinyl Alcohol Copolymer market?As per Spherical Insights, the size of the Ethylene-vinyl Alcohol Copolymer market was valued at USD 840 million in 2021 to USD 1421.23 million by 2030.
What is the market growth rate of the Global Ethylene-vinyl Alcohol Copolymer market?The Global Ethylene-vinyl Alcohol Copolymer market is growing at a CAGR of 5.4% during the forecast period 2021-2030.
Which region dominates the Global Ethylene-vinyl Alcohol Copolymer market?North America emerged as the largest market for Ethylene-vinyl Alcohol Copolymer.
What is the significant driving factor for the Ethylene-vinyl Alcohol Copolymer market?Growing demand for flexible packaging will influence the market's growth.
Which factor is limiting the growth of the Ethylene-vinyl Alcohol Copolymer market?Poor adhesion characteristics of EVOH resins could hamper the market growth.
Who are the key players in the Global Ethylene-vinyl Alcohol Copolymer market?Key players of the Ethylene-vinyl Alcohol Copolymer market are Schur Flexibles Holding GesmbH, Coveris, Mitsubishi Chemical Holdings Corporation, KURARAY CO., LTD., KUREHA CORPORATION, Arkema, Chang Chun Group., ProAmpac, MULTIFLEX FOLIEN GMBH & CO. KG, Vishakha Polyfab Pvt Ltd, International Plastic Engineering Co., Ltd, Verpackungen Gmb, Plastissimo Film Co., Ltd, and Zhongsu New Materials Technology.
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