Ethylene vinyl alcohol (EVOH) films for packaging market in Europe has been witnessing excellent growth as innovation and resource efficiency have remained the backbone of the European packaging industry. Additionally, leading manufacturers of EVOH films for packaging market in Europe are leveraging growth prospects of the European e-commerce sector for the economic growth of their businesses. Sensing the opportunities emerging in emerging markets of Latin America, Asia Pacific, and Middle East, leading packaging companies are focusing on consolidating their position in these regions. For instance, Mondi Group – an Austria-based packaging company – recently announced its plan to acquire the Egypt-based National Company for Paper Products and Import & Export (NPP). The Mondi Group will invest over €24 million to consolidate a stronger position in the Middle East. Further, The Smurfit Kappa Group plc – a leading packaging company in Europe – revealed its plans to expand its business in the Americas to improve its geographical reach. The growing focus on establishing a global presence is likely to usher in a flurry of mergers, acquisitions, and collaboration in the packaging landscape.
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Growing Focus on Sustainable Packaging Solutions Can Stymie Growth in the Long Run
Increasing concern about the environmental damages caused due to plastic is influencing consumers to shift towards eco-friendly alternatives for plastic in the packaging industry. Leading manufacturers are considering the dynamic consumer demand for environmentally-friendly materials while adopting strategies to manufacture EVOH Films for Packaging Market. Growing mandates by governments and increasing carbon-consciousness among consumers is influencing manufacturers to alter their production process. Many players have made a gradual shift from plastic to paper to comply with the evolving demand. The rising number of environmentally-conscious consumers and manufacturers making a shift towards paper packaging solutions may curtail demand for EVOH films for packaging market in the upcoming years.
Multipronged Applications of EVOH Films in the Food Industry Create Sustained Demand
EVOH films are commonly used in the food packaging industry as EVOH acts as a perfect barrier for oxygen to protect the food from contamination. EVOH films for packaging remain superior as compared to other plastic raisins at filtering oxygen out and retaining the flavor of the food product for long.. Leading stakeholders are focusing on manufacturing durable and moldable EVOH films that can ensure the long shelf life of food products. Thereby, though expensive, demand for EVOH films for packaging market is likely to increase with the rapidly growing food industry, in coming years.
Preference for Sustainability and Flexible Packaging Represent Fundamental Market Trends
The packaging industry is gaining momentum with increasing availability of a wide range of packaging solutions as per the end-user needs. Salient business strategies developed by leading manufacturers of EVOH films for packaging market hugely depend on the way consumers use packaged goods. Growing number of environmentally-conscious consumers are triggering demand for sustainable as well as convenient packaging solutions. The convenience of handling flexible packaging materials, such as packaging products made with EVOH films, their barrier properties, and recyclability of EVOH films are the primary factors to accelerate the global sales of EVOH films for packaging market. Consumers tend to feel disposed towards flexible packaging solutions, such as EVOH films, over rigid packaging solutions, which underscores a major driving force triggering demand for EVOH films for packaging market.
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Thriving Demand for High Barrier Properties of EVOH Films across Industries Bolsters the Market Growth
Owing to the moisture-resistant and oxygen barrier properties of EVOH films, they are among the most favorite choices of plastic raisins used in food packaging solutions. Apart from the food industry, EVOH films are also employed in the pharmaceutical industry, as the quality of packaging plays an important role in improving the shelf life of pharmaceutical products and minimizing losses. Due to its gas-resistant and light barrier characteristics, EVOH films for packaging market are likely to witness high demand in the pharmaceutical industry in the upcoming years. Furthermore, the excellent oil-resistant and chemical-resistant properties of EVOH films are boosting its applications as a fuel barrier layer in various automobiles as well as in portable gas containers. Such versatile applications of EVOH films for packaging market will create numerous business opportunities for manufacturers of EVOH films in the upcoming years.
Competitive Landscape
The EVOH films for packaging market report presents a detailed analysis of the revenue share contribution and key business strategies of all the tier 1, tier 2, and tier 3 manufacturers of EVOH films for packaging market. This chapter in the EVOH films for packaging market report includes comprehensive information on each company’s portfolio, SWOT analysis, key developments, and an assessment of strategic overviews of each manufacturer of EVOH films. The EVOH films for packaging market report features all the important stakeholders in the market including 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, and FLAIR Flexible Packaging Corporation.
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