H1 2023: The significant players in the global Ethylene Vinyl Alcohol Copolymer (EVOH) market in H1 2023 were Kuraray Co., Ltd and Mitsubishi Chemical Corporation. In H1 2023, Asia Pacific experienced an overall bullish market during this period. In the beginning of 2023, EVOH prices were low in the Asia Pacific region. EVOH price rose as the region’s demand for EVOH exceeded the supply of the product. Market participants faced issues to secure material during H1 2023. There were low inventories in the Asian nation and the production rates were under pressure. Other reasons like extra heavy demand of EVOH by the downstream food packaging industry supported the price hike during this period. On the other hand, EVOH consumption by the automotive and other industries were quite moderate. Prior to the Labour Day holidays in China, imports and trading activity were strong in April. Production rates were moderate, but the supply was feeble. The regional food packaging industry's demand diminished in mid-May 2023, and prices dropped as a result of better supply conditions. The costs of production were low due to a decline in the cost of the feedstock ethylene. In H1 2023, the U.S market witnessed a sharp rise in ethyl vinyl alcohol copolymer prices till April 2023. Prices elevated as a result of higher production costs brought on by an increase in the upstream cost support provided by the feedstock ethylene amid erratic upstream crude oil prices. However, in mid-May 2023, cost of feedstock ethylene and Vinyl Acetate prices decreased which resulted in decline in EVOH upstream costs and low prices. Also, lower consumption rates significantly impacted the U.S. EVOH market. Prices increased once more near the conclusion of the H1 2023 due to the limited supply of feedstock in the U.S.
The global Ethylene Vinyl Alcohol Copolymer (EVOH) market stood around 155 thousand tonnes in 2022 and is expected to grow at a CAGR of 4.89% during the forecast period until 2032. In 2022, the Mitsubishi Chemical Group (MCG) announced plans to expand SoarnoLTM Ethylene Vinyl Alcohol Copolymer Copolymer resin production capacity by 21,000 tonnes annually in the UK. The increased output is expected to commence its production in July 2025.
EVOH is synthesized from vinyl alcohol and ethylene by a two-step process: polymerization followed by saponification. In the first step, an initiator polymerizes ethylene and vinyl acetate. In the second step, the saponification of the ethylene-vinyl acetate copolymer takes place to form EVOH Copolymer. Physically, EVOH is a flexible, transparent, and glossy copolymer. It displays high resistance to attack by hydrocarbons, oils, organic fats, vapors, and solvents making it a great barrier material and a superior barrier film than HDPE and PET. EVOH offer barrier properties by resisting gases such as oxygen and nitrogen. Therefore, EVOH is used for packaging commodities like food, cosmetics, medicines, etc.
Moreover, due to its barrier properties, EVOH is employed as a fuel barrier in tanks of fuel tanks of portable gas containers and vehicles. Other applications include the beverage sector, chemical industry, pharmaceuticals, construction, agricultural, and automotive industries, where it is used for plastic fuel tanks, agrochemical containers, soil fumigation films, and vacuum insulation panels. EVOH may also be coextruded during the blown film, cast film, and extrusion coating processes to generate flexible packaging.
The market driving factor for EVOH is its excellent barrier properties. The food and beverage industry are driving EVOH's market growth. It is increasingly in demand to produce laminated or coextruded flexible food packaging films and uses blow-molded or thermoformed food containers and bottles. In 2022, 68% of the demand of EVOH was from the Industrial & Food Packaging Sector. Demand for packaged food will further increase in forecast time due to population growth and consumers’ demand for quick and ready-to-eat meals, which will fuel the EVOH demand in the coming years.
Based on region, North America and Asia Pacific are the leading consumers across the globe. The highest demand is accounted by North America with a share of 40% of the market in 2022. The primary reason that fuels the EVOH demand in North America is the wide array of application in the petrochemical industry in the fuel tanks, in ready to eat foods for packaging, and bottles which will be further increasing in the upcoming times. EVOH is further employed in plastic industry where it is co-extruded with Polyethylene (PE) and Polypropylene (PP) for better barrier resistance in food items and increasing their shelf life.
Based on the end-user industry, the global EVOH market is segmented into Industrial & Food Packaging, Consumer Goods, Automotives, and others. Industrial & Food Packaging is the primary leading sector as the consumer of EVOH making up 70% of the total demand in 2022. The majority of the EVOH market is driven by the widespread usage of plastic containers in containers for ready-to-eat meals. The material EVOH is ideal for rigid and semi-rigid packaging. Meats, sausages, and fish are vacuum packaged using EVOH. Utilizing methods like blow molding and co-injection-stretch-blow molding, EVOH is used in as a packaging material for goods like bottles of alcoholic beverages and jars, as a replacement of glass and metal for packaging.
Major players in the production of Global EVOH are Kuraray Co., Ltd., Mitsubishi Chemical Corporation, Chang Chun Petrochemical, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024- 2032
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Objective of the Study:
• To assess the demand-supply scenario of Ethylene Vinyl Alcohol Copolymer (EVOH) which covers production, demand and supply of Ethylene Vinyl Alcohol Copolymer (EVOH) market in the globe.
• To analyse and forecast the market size of Ethylene Vinyl Alcohol Copolymer (EVOH)
• To classify and forecast Global Ethylene Vinyl Alcohol Copolymer (EVOH) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., of Ethylene Vinyl Alcohol Copolymer (EVOH) market in the globe.
To extract data for Global Ethylene Vinyl Alcohol Copolymer (EVOH) market, primary research surveys were conducted with Ethylene Vinyl Alcohol Copolymer (EVOH) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Ethylene Vinyl Alcohol Copolymer (EVOH) market over the coming years.
ChemAnalyst calculated Ethylene Vinyl Alcohol Copolymer (EVOH) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of black liquor (raw material) to produce Ethylene Vinyl Alcohol Copolymer (EVOH). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Ethylene Vinyl Alcohol Copolymer (EVOH) manufacturers and other stakeholders
• Organizations, forums and alliances related to Ethylene Vinyl Alcohol Copolymer (EVOH) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ethylene Vinyl Alcohol Copolymer (EVOH) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Ethylene Vinyl Alcohol Copolymer (EVOH) s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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155 thousand tonnes
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Market size Volume by 2032
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250 thousand tonnes
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Growth Rate
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CAGR of 4.89% from 2023 to 2032
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2032
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Quantitative units
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Demand in thousand tonnes and CAGR from 2023 to 2032
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Report coverage
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Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
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Segments covered
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By End-Use: (Industrial & Food Packaging, Consumer Goods, Automotives and Others.)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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