Overview and Scope
Ethylene-Vinyl Acetate (EVA) is an elastomeric copolymer of ethylene and vinyl acetate used to produce rubber-like materials. Ethylene Vinyl Acetate (EVA) is an elastomeric polymer that provides durability, crack resistance, and flexibility to certain materials. It is an ethylene-vinyl acetate copolymer with a vinyl acetate concentration ranging from 10% to 40%. EVA has improved stress crack resistance and can maintain flexibility without the use of plasticizers throughout a wide temperature range of 60 °C to 150 °C.
Sizing and Forecast
The ethylene vinyl acetate market size has grown strongly in recent years. It will grow from <b>$8.41 billion in 2023 to $9.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. </b> The growth in the historic period can be attributed to footwear industry, packaging and film applications, solar panel encapsulation, medical devices, automotive interiors.
The ethylene vinyl acetate market size is expected to see strong growth in the next few years. It will grow to <b>$12.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. </b> The growth in the forecast period can be attributed to solar energy growth, recycling and circular economy, lightweight and sustainable footwear, increased eva versatility, healthcare and pandemic preparedness. Major trends in the forecast period include noise reduction in automotive, eva in electric vehicles (evs), eva-based medical devices, smart packaging with eva, biomedical innovations.
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Segmentation & Regional Insights
The ethylene vinyl acetate market covered in this report is segmented –
1) By Type: Very Low Density Ethylene Vinyl Acetate, Low density Ethylene Vinyl Acetate, Medium Density Ethylene Vinyl Acetate, High Density Ethylene Vinyl Acetate
2) By Application: Film, Foam, Hot Melt Adhesives, Wire and Cable, Extrusion Casting, Solar Cell Encapsulation, Other Applications
3) By End-Use Industry: Footwear and Foams, Packaging, Agriculture, Photovoltaic panels, Pharmaceuticals, Other End Users
<b>Asia-Pacific</b> was the largest region in the ethylene vinyl acetate market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the ethylene vinyl acetate market during the forecast period. The regions covered in the ethylene vinyl acetate market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in demand from the packaging industry is contributing to the growth of the ethylene vinyl acetate market. The rise in the demand for ethylene-vinyl acetate is being witnessed in the packaging sector due to more online purchasing during the COVID crisis. Ethylene-vinyl acetate (EVA) is the most prevalent polymer employed in hot melt adhesives for packaging applications. Packaging in EVA has good water resistance, corrosion resistance, easy processing, anti-vibration, and thermal insulation. They are strong, reusable, and delightful in appearance, and they are popular mostly among consumers. For instance, in 2022, according to reports shared by the Flexible Packaging Association, a US-based non-profit organization, the U.S. flexible packaging industry saw a substantial increase in sales in 2021, reaching an estimated $39 billion, up from $34.8 billion in the previous year. The increase in demand for packaging materials and the positive growth of the packaging industry during the forecast period will further propel the growth of the ethylene vinyl acetate market.
Key Industry Players
Major companies operating in the ethylene vinyl acetate market include <b> ExxonMobil Corporation, Arkema SA, Asia Polymer Corporation, BASF SE, Braskem SA, Celanese Corporation, Clariant AG, Dow Chemical Company, Dupont-Mitsui Polychemicals Co. Ltd., E.I. Du Pont De Nemours & Co., Formosa Plastics Corporation, Hanwha Total Petrochemical Co. Ltd., Innospec Inc., Kemipex Group, LyondellBasell Industries N.V., Porex Corporation, Repsol S.A., Saudi International Petrochemical Company, SK Global Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., Tosoh Corporation, Versalis, Westlake Chemical Corporation, Eastman Chemical Company, LyondellBasell, China Petroleum and chemical corporation, Mitsui Chemicals, LG Chem, Hanwha Solutions Corporation, TotalEnergies SE, Saudi Basic Industries Corporation, Lotte Chemical Corporation, INEOS Group Ltd., Ravago Group </b>
The ethylene vinyl acetate market report table of contents includes:
1. Executive Summary
2.Ethylene Vinyl Acetate Market Characteristics
3.Ethylene Vinyl Acetate Market Trends And Strategies
4.Ethylene Vinyl Acetate Market analysis
5.Ethylene Vinyl Acetate Market Size And Growth
6.Ethylene Vinyl Acetate Segmentation
7.Ethylene Vinyl Acetate Regional And Country Analysis
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27.Ethylene Vinyl Acetate Competitive Landscape And Company Profiles
28.Ethylene Vinyl Acetate Key Mergers And Acquisitions
29.Ethylene Vinyl Acetate Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- ExxonMobil Corporation
- Arkema SA
- Asia Polymer Corporation
- BASF SE
- Braskem SA
- Celanese Corporation
- Clariant AG
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