The global Ethylene Vinyl Acetate (EVA) market has expanded remarkably to reach approximately 2900 thousand tonnes in 2021 and is expected to grow at a CAGR of 5.68% during the forecast period until 2035. Versalis recently licensed the Enter Engineering Pte. Ltd., for the construction of Low-Density Polyethylene/Ethyl Vinyl Acetate (LDPE/EVA) unit in the MTO plant located in Bukhara, Republic of Uzbekistan. The EVA production from the unit will be approximately 180 tonnes per annum.
Ethylene Vinyl Acetate (EVA) is a polymeric resin which is a copolymer of vinyl acetate and ethylene. This resin displays wonderful properties like good flexibility, ability to sustain even at low temperatures such as -70degree Celsius, high durability and resistance to chemicals. These properties are responsible for its applications in various industries like the manufacturing footwears, automobile components, hose, toys, athletic goods, toothbrushes, combs, and flexible packaging films.
The primary driver of Ethylene Vinyl Acetate (EVA) global market is by the Footwear sector, which is anticipated to rise in response to rising population across the globe. It is mainly due to the high resistance, high friction coefficient, crack resistance, thermal insulation, strong shock resistance, chemical resistance, vibration penetration, and low rates of water absorption, Ethylene Vinyl Acetate (EVA) is a perfect material for the footwear industry. In 2021, approximately 50% of global Ethylene Vinyl Acetate (EVA) was utilized by Footwears industry. Furthermore, Ethylene-vinyl acetate is also used in solar panels as an adhesive to enclose photovoltaic (PV) modules in order to offer structural supports and electrical isolation, which further drives the EVA demand. The global market of Ethylene Vinyl Acetate (EVA) is likely to experience a surge and reach approximately 6000 tonnes by 2035.
Based on demand across the globe, the Asia Pacific reported to be the biggest consumer of Ethylene Vinyl Acetate (EVA) market. The packaging industry's increasing demand is one of the main drivers of the Ethylene Vinyl Acetate (EVA) market's expansion in Asia Pacific region. Because of the rising demand for consumer goods and electronics products like footwear, laptops, mobile phones and accessories, the packaging end-use sector is also predicted to expand significantly. The industrial packaging is anticipated to fuel demand for EVA in the forecast period.
Based on the end-user industry, the global Ethylene Vinyl Acetate (EVA) market is segmented into different industrial sectors that include Footwears, Adhesives, Packaging, Photovoltaic Cell, and others. The Footwear industry is the dominating as a consumer industry for Ethylene Vinyl Acetate (EVA) market. The Adhesives industry is also one of the leading consumers of EVA. The consumption of Ethylene Vinyl Acetate (EVA) in the Photovoltaics industry in which EVA is utilized as an encapsulant as well as adhesive in solar panels, in anticipated to further propel the demand of EVA on a global level.
Major players in the production of Global Ethylene Vinyl Acetate (EVA) are ExxonMobil Corporation, Sinopec, Hanwha Total Petrochemical, Formosa Plastics Corporation, BASF-YPC, Dow, Shaanxi Yanchang Zhongmei Yulin Energy Chemical Co., Ltd, and others.
Years for this report:
Historical Period: 2015- 2021
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2035
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Objective of the Study:
• To assess the demand-supply scenario of Ethylene Vinyl Acetate (EVA) which covers production, demand and supply of Ethylene Vinyl Acetate (EVA) market in the globe.
• To analyse and forecast the market size of Ethylene Vinyl Acetate (EVA)
• To classify and forecast Global Ethylene Vinyl Acetate (EVA) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Ethylene Vinyl Acetate (EVA) market in the globe.
To extract data for Global Ethylene Vinyl Acetate (EVA) market, primary research surveys were conducted with Ethylene Vinyl Acetate (EVA) 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 Acetate (EVA) market over the coming years.
ChemAnalyst calculated Ethylene Vinyl Acetate (EVA) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the raw materials to produce Ethylene Vinyl Acetate (EVA). 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.
• Organizations, forums and alliances related to Ethylene Vinyl Acetate (EVA) s distribution
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ethylene Vinyl Acetate (EVA) s 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.
In this report, Global Ethylene Vinyl Acetate (EVA) s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.