The prime objective of the market report is to provide a synopsis of theoretical structure and rational approach of the EVOH Films for Packaging Market, which additionally comprises the future market potential and in-depth knowledge of the statistics implicated in the development of the respective market. The EVOH Films for Packaging Market is estimated to elevate at a substantial rate in the foreseeable future. The market analysts predict that the EVOH Films for Packaging Market size will rise from 5.1 in 2022 to 7.7 by the year 2030, at an approximate CAGR of 5.1%. The base year considered for the study is 2020, and the market size is projected from 2022 to 2030. The comprehensive market knowledge approach even outs the criterion of the assessment findings that offers greater opportunities for the customers to put their best efforts.
Global EVOH Films for Packaging Market, By Processing Methods (Co-extruded film extrusion (blown or cast), Monolayer film extrusion (blown or cast), Co-extrusion blow moulding, Sheet co-extrusion, Co-extrusion coating, Injection moulding, Laminating), By Product Application (Flexible Films, Bottles, Trays, Bag-in-box, Pipes, Laminated Tubes, Others), By End Use (Food (Meat, Poultry, and Seafood, Pet Food, Baby Food, Others), Personal Care & Cosmetics, Household, Pharmaceutical, Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
The EVOH films for packaging market is estimated to reach at a value of US$ 5.1 Bn by the end of 2022 and expected to reach at a value of US$ 7.7 Bn by 2030 with a significant CAGR of 5.1%.
EVOH can be defined as an ethylene vinyl alcohol polymer that majorly comprises oxygen, carbon, and hydrogen. The EVOH film is majorly employed in the multilayer technology as a protective layer and barrier layer and, in the present times, is of core significance in the food packaging industry.
Notably, in the food packaging sector, it is of most importance to use a material arrangement that prolongs shelf life of the product as well as ensures the safety of the product and preserve the taste of the food.
At the same time, EVOH films, attributing to its excellent barrier properties to gases such as nitrogen, oxygen, and carbon dioxide, makes its ideal packaging for a wide range of products including cosmetics, foods, drugs as well as other delicate or perishable products as it maintains and extends its shelf life. Owing to which, the EVOH films are achieving huge traction across the global markets, thereby projected to boost the market growth over the years. In like manner, the market is witnessing soaring demand for innovative, sustainable and eco-friendly packaging materials which maintains the goodness and quality of the product, which is further projected to accelerate the market growth in the following years.
Moreover, the EVOH films also finds extensive utility in pharmaceuticals and healthcare industry owing to its excellent barrier attributes and thus, it is oftentimes employed in multilayer, co-extruded films like PP, HDPE, and PET, which have excellent moisture barrier characteristics. Thus, the EVOH films for packaging market is projected to witness significant growth over the forecast period.
Reports and Insights Study identifies some of the key participating players in the EVOH films for packaging market globally are Mondi Group, Smurfit Kappa Group Plc, Kuraray Co. Ltd, Amcor Ltd, Berry Global Inc., Coveris Holdings S.A., Winpak Ltd., Schur Flexibles Holding GesmbH, Mitsubishi Chemical Holdings Group, FLAIR Flexible Packaging Corporation, Korozo Packaging, Nippon Gohsei, Kaneka Corporation, Sasol, among others.
Factors that are benchmarked while estimating the EVOH Films for Packaging market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product development and launches
Current product compliance
Concerns for use of EVOH Films for Packaging
Advantages of EVOH Films for Packaging
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.