Ethylene Vinyl Acetate Market - By Type (VLEVA, LEVA, HEVA, and MEVA), By Technology (Compounding And Wire & Cables, Injection Molding, Film, Extrusion Coating Other Extrusions, and Other Non-Extrusions), By End-User (Packaging, Agriculture, Footwear & Foams, Photovoltaic Panels, Pharmaceutical and Others), - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Ethylene Vinyl Acetate Market was valued at USD 8362.8 million in 2020, at a CAGR of 6% between 2020 and 2030. The high potential of rising global demand for EVA in the solar energy, packaging and footwear & foam business, as well as the ongoing expansion and acquisitions & partnerships activities undertaken by multiple companies are key factors in the growth of the global EVA market. Ethylene-vinyl acetate (EVA) resins are manufatured by using vinyl acetate and ethylene and they are used in production of packaging material for vinyl acetate, plastic,solar cell encapsulation,  wire & cable, and hot melt adhesives. Low melt index EVAs offers extra strength, highest viscosity, and hot tack (relative melting and bonding energy) thanks to its properties, such as low sealing temperature and improved toughness, Ethylene Viny Acetate resins are widely used in the paper and packaging industry. They are also used in photovoltaic panels that are used for solar energy production.

Market Dynamics and Factors:

Major driving factors for the market are increased government spending on the defense sector, growing demand for aircraft for Asia Pacific and Middle East regions. Changing lifestyles of the population and growing disposable income in emerging countries such as India and China will create demand for the aircraft resulting in the growth of the aerospace coating market. However, varying the prices of coating materials may hinder the growth of the market. Expanding repairing and maintenance activities will further act as an opportunity during the forecast period.

Market Segmentation:

Depending upon the type, the market is segmented into VLEVA, LEVA, HEVA, and MEVA. On the basis of technology, the market is segmented into compounding and wire & cables, injection molding, film, extrusion coating other extrusions, and other non-extrusions. On the basis of end-user, the market is segmented into packaging , agriculture, footwear & foams, photovoltaic panels, pharmaceutical and others. Depending upon the regional breakdown, EVA market can be segregated into North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Asia-Pacific is also forecasted to see a steady growth between 2020 and 2028 as the largest market for EVA. The growth of the EVA market is driven by the increase in demand from end-use industries like packaging, agriculture, footwear & foam, pharmaceutical and others in Asia-Pacific. Significant infrastructure development and growing demand for extrusion coatings, films, injection molded components, hot-melt adhesives, and other applications in different end-use industries are expected to drive the EVA market in this area. Owing to the growing manufacturing and industrial base, the region has wide potential for the EVA market.

Competitive Scenario:

Celanese Corporation, Hanwha Chemical Co, Ltd.,  Braskem S.A., Arkema S.A., Sinopec Corporation, DOW Inc., Formosa Plastics Corporation,  Lyondell Basell Industries N.V., Exxon Mobil Corporation and Lotte Chemical Corporation are main players involved in the ethylene vinyl acetate resin industry. Infineum International Ltd.,  Innospec Inc., Clariant AG, Honam Petrochemical Corporation and Hoehn Plastics, Inc., are other players operating in this market. Such major players pursue multiple approaches such as acquisition, company expansion and partnership in order to remain competitive in the global market.

Ethylene Vinyl Acetate Market Report Scope