Market Overview:
Ethylene vinyl acetate (EVA) is a thermoplastic resin produced by the copolymerization of ethylene and vinyl acetate monomer. EVA possesses superior properties such as transparency, flexibility, excellent optical properties, chemical resistance, high friction coefficient, resilience, and crack resistance. It finds use in numerous applications which includes foaming, film extrusion, injection molding, solar cell encapsulation, hot melt adhesives, and coatings among others. Film extrusion and solar cell encapsulation is the prime application of EVA. It can contain from 2% to 50% vinyl acetate, however, EVA containing 10-25% vinyl acetate are being widely used in the major end-use industries such as packaging, photovoltaic panels, and automotive.
The global demand for EVA is driven by increasing use of EVA in packaging industry in numerous applications such as food, medical, and cosmetics among others. Expanding packaging industry with rise in demand for packaged food and beverages from the working population due to improved convenience and longer shelf life is driving the demand for plastic films and thus, EVA.
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Top Key Players:
Arkema SA (France), DowDuPont (US), Innospec (US), BASF SE (Germany), USI Corporation (Taiwan), Clariant AG (Switzerland), Exxon Mobil Corporation (US), Celanese Corporation (US), United Plastic Components Inc. (Canada), Infineum International Limited (UK), Porex Corporation (US), and LyondellBasell Industries Holdings B.V. (The Netherlands)
Segmentation:
The global ethylene vinyl acetate market has been segmented by type, application, end-use industry, and region.
Based on type, the market has been segmented into low density EVA, medium density EVA, and high-density EVA.
Based on application, the market has been segmented into foaming, film extrusion, solar cell encapsulation, injection molding, hot melt adhesives, coatings, compounding and wires & cables, and others.
Based on end-use industry, the market has been segregated into packaging, renewable energy, adhesives & sealants, footwear, construction, electrical & electronics, automotive, pharmaceuticals, agriculture, and others
Regional Analysis:
The Ethylene vinyl acetate (EVA) market has been segmented, by region, into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the majority share of the EVA market in 2017; the regional market is likely to witness significant growth during the review period. Expanding packaging industry on account of increasing demand from end-use applications such as food products and medical among others is driving the market growth in the region. Increasing demand for packaged and ready-to-eat food products due to improved convenience and longer shelf life of the product is another important factor driving the packaging industry and thus, EVA. Expanding renewable energy industry on account of increasing investment in the solar power plants is likely to propel the market growth. For instance, the Asian Infrastructure Investment Bank (AIIB) has established various renewable energy projects such as a solar power plant in Egypt and a coal replacement project in China as part of its lean, clean, and green motto under the Paris Agreement. The use of energy generated through solar power plants is increasing to meet the rising demand for green energy sources.
North America is a prominent market for EVA as a result of the growing packaging, renewable energy, and footwear industries. Growing footwear industry on account of rising demand for sports shoes has resulted in increased demand for foam and thus, EVA. Additionally, the growth of the pharmaceuticals industry with an increase in healthcare spending coupled with rising geriatric populations is expected to propel the market growth.
The European market is expected to witness significant growth during the review period on account of growth of the packaging industry with increased spending on packaged food products. Increasing environmental regulations by the regulatory agency, ECHA (The European Chemical Agency) to reduce carbon emissions has resulted in increased focus on renewable
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Intended Audience:
Ethylene vinyl acetate manufacturers
Traders and distributors of ethylene vinyl acetate
Research and development institutes
Potential investors
Raw material suppliers
Nationalized laboratories
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