In the food packaging industry, utilization of materials that prolongs shelf life is vitalfor ensuring the safety of products and preservation of the taste of food. Global EVOH films for packaging market is projected to witness substantial growth due to increased demand for EVOH films in the packaging industry.
In an upcoming report on global EVOH films for packaging market, Transparency Market Research offers a detailed view of the market.The studyattempts to elucidateall the vital strategies of growth and dynamics of themarket. Italso analyzesprofiles ofthe leading companies that are operating in the global EVOH films for packaging market.
Global EVOH Films for Packaging Market: Notable Developments
The dynamics of the global EVOH films for packaging market have improved in recent times. Some of the leading developments pertaining to the market are mentioned below:
- Japanese chemicals company, Mitsubishi Chemical Corporation, made an announcement in May 2019 that it has planned to escalate its production of EVOH resin in the U.S. in anticipation of increased demand in the near future. At its consolidated subsidiary Noltex LLC, Mitsubishi Chemical will expand the production capacity of SoarnoL EVOH resin by 3,000 tons to 41,000 tons every year.
Want to know the obstructions to your company’s growth in future? Request a brochure here
- In March 2019, Schur Flexibles Group made an acquisition of Scandiflex Pac AB, a leading Swedish packaging specialist. This acquisition will further reinforce the position of Schur Flexibles' in flexo printing and expand its platform across the Nordic region. Scandiflex Pac's emphasis on quality, sustainability, and innovation will complement Schur Flexibles.
- Dublin-based Smurfit Kappa has come up with a new innovative Thermo Bag, which is a barrier bag made from special coextruded EVOH and PE film. This bag offers oxygen and thermo resistance and is flexible.
Mitsubishi Chemical Holdings Group, FLAIR Flexible Packaging Corporation, Schur Flexibles Holding GesmbH, Smurfit Kappa Group Plc.,Coveris Holdings S.A., and Kuraray Co. Ltd are some of the names to reckon with in the global EVOH films for packaging market.
Global EVOH Films for Packaging Market: Key Trends
The following factors are expected to propel the growth of global EVOH Films for Packagingmarket:
Increased Demand from Food and Beverage Industry adds Impetus to Market
Global EVOH films forpackaging market is expected to derive traction from its widespread use in packaging industry, especially for the food and beverages to prevent contamination. The main quality of EVOH films for packaging applications is their excellentobstruction to the invasion gases, such as carbon dioxide, oxygen, and organic vapors. Such utility of EVOH films rendersthem ideal for atmosphere packaging where a specific type of atmosphere is trapped inside the package to help the food retain its freshness and quality.
Looking for exclusive market insights from business experts? Request a Custom Report here
Furthermore, the demand for innovative packaging solutions in the packaging industry to attract environmentallyconsciousconsumers is foreseen to further escalate the demand for EVOH films forpackaging. For instance, consumers in India are making a shift toward packaged oils from the traditional “loose oil” sold at grocery stores due to growing preference for healthy lifestyle and food safety. Typically, these oil pouches are a 5-7 layer-coextruded film, which is a combination of nylon or EVOH, tie-layer, and PE.
Global EVOH Films for Packaging Market: Geographical Analysis
In terms of region, Europe is estimated to exhibitimpressive growth in the global EVOH films for packaging market owing to high focus on innovation and resource efficiency in the packaging industry. Rapid strides made in e-commerce are expected to underpin attractive growth prospects of developing regions such as Asia Pacific.