Ethylene-vinyl Alcohol Copolymer (EVOH) Market Size

Ethylene-vinyl Alcohol Copolymer Market Size

Ethylene-vinyl Alcohol Copolymer Market size surpassed USD 807.9 million in 2021 and is expected to grow at a CAGR of over 5% from 2022 to 2028. Manufacturers are focusing on adopting greener packaging solutions, which support market growth in Europe and North America.

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The ethylene-vinyl alcohol copolymer market is expected to witness significant growth over the forecast timeframe owing to its increasing use in the product packaging industry. The increasing demand for EVOH is attributed to its excellent oxygen barrier properties, which are suitable for perishable product packaging. Polymerization and saponification are used in a two-step procedure to manufacture ethylene-vinyl alcohol copolymers. An activator/initiator combination is used to polymerize ethylene and vinyl acetate.

The ethylene-vinyl acetate copolymer is saponified to manufacture the EVOH. These offer excellent properties such as superior gas barrier resistance, antistatic, luster & transparency, resistance to oil & organic solvents, and excellent permeability. Due to these properties, EVOH is used in various end-use industries including food & beverages, cosmetics, pharmaceutical, automotive, and construction.

The surging applications of EVOH in packaging films have further propelled the overall industry expansion. Furthermore, the rising demand for packaging films in the cosmetics, pharmaceutical, and food & beverage industries is projected to accelerate the ethylene-vinyl alcohol copolymer market demand. Moreover, the growing construction industry mainly in developing regions, such as Asia Pacific and the Middle East, will offer new growth opportunities to the industry.

Increased focus on developing the infrastructure is supporting the construction sector growth in various regions. Rising trends in roadway & commercial property constructions are primary drivers of the booming construction industry. The demand for high-rise buildings has increased in the Middle East region due to rising economic developments, population growth, and limited land availability, thus augmenting the market statistics.

The COVID-19 pandemic has disrupted the supply chain of the global ethylene-vinyl alcohol copolymer market expansion. It can be majorly attributed to the shortage of raw materials such as ethylene and vinyl acetate. Ethylene is majorly produced from petroleum or natural gas.

The petrochemical industry is severely affected due to the demand drop as countries implemented social & travel restrictions and also supply reduction in global petrochemical manufacturing hubs. However, the rapid surge in the demand for ethylene-vinyl alcohol copolymers in the packaging industry across the globe has further propelled the industry landscape.