Decoding the Global Demand: EVOH Resins in Food Applications and COVID-19 Impact

What is the Current Global Demand for EVOH Resins in Food Applications?

The global market for ethylene vinyl alcohol (EVOH) resins earmarked for food applications has been experiencing growth over the years. The exceptional gas barrier properties of EVOH resins make them invaluable in food packaging, particularly perishable items, as they help extend product shelf life. This demand is fanned by the global food industry’s pursuit of improved food safety and waste reduction strategies.

What are the Drivers and Restraints in EVOH Resins Market?

EVOH’s cost-effectiveness, coupled with stringent food safety regulations, are pivotal drivers in this market sector. The surge in convenience food products propelled by a rapidly growing middle class has also contributed to the upswing. However, fluctuations in raw material costs and the rise of alternative bio-based polymers pose some challenges to the EVOH resins market. Strong recycling management strategies need implementation to counter accusations of environmental damage.

What is the Impact of the COVID-19 Outbreak on the Demand for EVOH Resins?

COVID-19 pandemic's global reach has affected various industries, and EVOH resins are no exception. There was a surge in demand owing to initial panic buying and an uptick in home-cooked meals. But the longer-term effect may be tempered by the probable world economic downturn and its impact on consumer purchasing power. Despite these uncertainties, the need for safe, effective food packaging solutions remains, implying that the EVOH resins market holds future resilience.