Ethylene Vinyl Acetate Market

Ethylene Vinyl Acetate Market by Type (Very low-density, Low-density, Medium-density, and High-density EVA), End-use Industry (Photovoltaic Panels, Footwear & Foams, Packaging, Agriculture), Application, and Region - Global Forecast to 2026

Report Code: CH 2362 Sep, 2021, by marketsandmarkets.com

[221 Pages Report] The EVA market size is estimated to be USD 9.7 Billion in 2021 and is projected to reach USD 13.6 Billion by 2026, at a CAGR of 6.8%. EVA is the copolymer of ethylene and vinyl acetate. It is an elastic material with the presence of about 10% – 40% of vinyl acetate content. It is also known as polyethylene vinyl acetate (PEVA), with high flexibility and softness. EVA also possesses good clarity and gloss, low-temperature toughness, stress crack resistance, high friction coefficient, hot-melt adhesive waterproof properties, and resistance to UV radiations. These copolymers are used in various end-use industries such as footwear & foams, packaging, agriculture, photovoltaic encapsulation, and others end-use industries.

EVA is a versatile, recyclable, sustainable, and durable material, owing to which it is gaining traction across several industrial applications. Due to its superior properties and the changing government policies such as European Green Deals, the global market for EVA is expected to grow

Ethylene Vinyl Acetate Market

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COVID-19 pandemic Impact on the Global EVA  market

Due to COVID-19 pandemic, the suspension of manufacturing operation, disruption of supply chain, and declining demand for industrial goods had significant impact on the market. However, due to COVID-19 pandemic, the demand for pharmaceutical industry goods has risen, which, in turn, support for the growth of EVA  market. At the same time, due to panic situation, people stock the hygiene products across the globe that drives the market. However, the end-use industries like footwear and foam were affected by the pandemic.

EVA  market Dynamics

Driver: Significant growth in solar PV installation across the globe to boost the demand for EVA during over the forecast period

The global solar power industry is witnessing experiencing strong growth owing to massive government’s large investment by the governments of different developed and developing nations. to promote renewable energy. Solar power is one of the most reliable and clean sources of energy and is a sustainable alternative to fossil fuels that are largely responsible for polluting the environment and contributing to global warming. Ethylene vinyl acetate (EVA) is used in solar modules as an encapsulating agent to provide good radiation transmission and low degradability to sunlight. Also, it is used to forms a sealing and insulating films around the solar cells.

Restraint: Intervention of substitute materials will hamper the market growth

 LDPE is considered as one of the substitutes for EVA copolymers soon due to its comparatively low-cost and approximately the same properties.  Since EVA with lower vinyl acetate content has faced competition with metallocene LDPE, many producers are focusing on differentiated or value-added products with a high concentration of vinyl acetate by increasing the vinyl acetate content in EVA copolymers.

Opportunities:  Introduction of bio-based ethylene vinyl acetate

The replacement of petroleum-based EVA copolymers with bio-based EVA copolymers can prove as a milestone in the polymer industry Bio-based EVA is made from sugarcane, which is a sustainable resource that helps to reduce greenhouse gas emissions by capturing CO2. Green EVA is suitable for usage in footwear, toys, general foams, and a variety of other applications for those looking to incorporate it into a new product concept.

Challenges: Potential problems with ethylene vinyl acetate photovoltaic encapsulation

There are also some drawbacks of EVA copolymers used in encapsulation. EVA copolymers start decomposing when exposed to atmospheric water or ultraviolet radiation and starts producing acetic acid at a slow rate, leading to the a lowered level of pH and increased surface corrosion

High density EVA accounted for the largest share in 2020

Extruded sheets are estimated to be the largest form of EVA. This is due to its advantages, which include clarity, good surface quality, range of colors, easy maintenance, surface hardness, lightweight, and easy fabrication.

Film application accounted for the largest share in 2020

Ethylene Vinyl Acetate (EVA) EVA with 6% – 10% vinyl acetate content is commercially used for film applications. Films manufactured using EVA copolymers became the most widespread due to their properties, such as lower melting point, higher transparency, high impact resistance, thermal stability, elasticity, and hygienic characteristics

APAC is projected to account for the largest share of the EVA  market during the forecast period 

APAC is estimated to be the largest market for EVA  and is projected to reach USD 8,740 Million by 2026. The market in the region is primarily driven by the rising demand for durable plastic products from the footwears, pharmaceuticals, and photovoltaic panels segments.

Ethylene Vinyl Acetate Market  by Region

Key Market Players

The EVA  market comprises major manufacturers such as  ExxonMobil Corporation (US), Dow Inc. (US), SIPCHEM (Saudi Arabia), Formosa Plastics Corporation (Taiwan), and Hanwha Total Petrochemical are the key players operating in the EVA  market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the EVA  s market.

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Scope of the Report

Report Metric

Details

Market size available for years

2019–2026

Base year considered

2020

Forecast period

2021–2026

Forecast units

Value (USD Million) and Volume (Million Square Meter)

Segments covered

By Type, Application, End-use and Region

Geographies covered

North America, Asia Pacific, Europe, South America, and Middle East & Africa

Companies covered

ExxonMobil Corporation (US), Dow Inc. (US), SIPCHEM (Saudi Arabia), Formosa Plastics Corporation (Taiwan), and Hanwha Total Petrochemical

This research report categorizes the  EVA  market based on resin type, backing material, a, and region.

EVA market, By Type

  • Very low density ethylene vinyl acetate
  • Low density ethylene vinyl acetate
  • Medium density ethylene vinyl acetate
  • High density ethylene vinyl acetate

EVA  market, By Application

  • Film
  • Injection molding
  • Comp0unding and wire & cable
  • Others non-extrusion
  • Others extrusion
  • Extrusion coating
  • Printing ink

EVA  market, By End-Use Industry

  • Footwear & foams
  • Packaging
  • Agriculture
  • Photovoltaic panels
  • Pharmaceuticals
  • Others

EVA  market, By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Recent Developments

  • In 2020, Tosoh Corporation The company launched the full-scale operation of its new main research building located in Shuan city, China.
  • In Feb 2020, Dow Inc. The company had announced the expansion of Canada based ethylene production facility by 130 kilotons.
  • In 2020, Ineos Group acquired 100% shares in its joint venture "Gemini HDPE" with Sasol Chemicals. The company produces high high-density polyethylene in LA Porte, Texas.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION
    1.1. OBJECTIVES OF THE STUDY
    1.2. MARKET DEFINITION
    1.3. MARKET SCOPE
           1.3.1. MARKETS COVERED
           1.3.2. YEARS CONSIDERED FOR THE STUDY
    1.4. CURRENCY
    1.5. LIMITATION
    1.6. STAKEHOLDERS

2 RESEARCH METHODOLOGY
    2.1. RESEARCH DATA
           2.1.1. SECONDARY DATA
                    2.1.1.1. Key Data from Secondary Sources
           2.1.2. PRIMARY DATA
                    2.1.2.1. Key Data from Primary Sources
                    2.1.2.2. Key Industry Insights
                    2.1.2.3. Breakdown of Primary Interviews
    2.2. MARKET SIZE ESTIMATION
    2.3. DATA TRIANGULATION
           2.3.1. RESEARCH ASSUMPTIONS

3 EXECUTIVE SUMMARY

4 PREMIUM INSIGHTS
    4.1. ATTRACTIVE OPPORTUNITIES IN THE ETHYLENE VINYL ACETATE MARKET, REGIONAL ANALYSIS
    4.2. ETHYLENE VINYL ACETATE MARKET, DEVELOPING VS DEVELOPED NATIONS
    4.3. ETHYLENE VINYL ACETATE MARKET, BY TYPE
    4.4. ETHYLENE VINYL ACETATE MARKET, BY APPLICATION
    4.5. ETHYLENE VINYL ACETATE MARKET, BY END-USE INDUSTRY

5 MARKET OVERVIEW
    5.1. INTRODUCTION
    5.2. MARKET SEGMENTATION
           5.2.1. ETHYLENE VINYL ACETATE MARKET, BY TYPE
           5.2.2. ETHYLENE VINYL ACETATE MARKET, BY APPLICATION
           5.2.3. ETHYLENE VINYL ACETATE MARKET, BY BY END-USE INDUSTRY
    5.3. MARKET DYNAMICS
           5.3.1. DRIVERS
           5.3.2. RESTRAINTS
           5.3.3. OPPORTUNITIES
           5.3.4. CHALLENGES

6 INDUSTRY TRENDS
    6.1. INTRODUCTION
    6.2. VALUE CHAIN ANALYSIS
    6.3. REGULATORY ANALYSIS
    6.4. PATENT ANALYSIS
    6.5. PORTER’S FIVE FORCES ANALYSIS
           6.5.1. BARGAINING POWER OF SUPPLIERS
           6.5.2. THREAT OF NEW ENTRANTS
           6.5.3. THREAT OF SUBSTITUTES
           6.5.4. BARGAINING POWER OF BUYERS
           6.5.5. INTENSITY OF RIVALRY
    6.6 TRADE ANALYSIS

7 ETHYLENE VINYL ACETATE, BY TYPE
    7.1. INTRODCTION
           7.1.1 VERY LOW DENSITY ETHYLENE VINYL ACETATE
           7.1.2 LOW DENSITY ETHYLENE VINYL ACETATE
           7.1.3 MEDIUM DENSITY ETHYLENE VINYL ACETATE
           7.1.4 HIGH DENSITY ETHYLENE VINYL ACETATE

8 ETHYLENE VINYL ACETATE, BY APPLICATION
    8.1. INTRODCTION
           8.1.1 FILM
           8.1.2 INJECTION MOLDING
           8.1.3 COMP0UNDING AND WIRE & CABLE
           8.1.4 OTHERS NON-EXTRUSION
           8.1.5 OTHERS EXTRUSION
           8.1.6 EXTRUSION COATING
           8.1.7 PRINTING INK

9 ETHYLENE VINYL ACETATE, BY END-USE INDUSTRY
    9.1. INTRODCTION
           9.1.1 PHOTOVOLTAIC PANELS
           9.1.2 FOOTWEAR & FOAMS
           9.1.3 PACKAGING
           9.1.4 AGRICULTURE
           9.1.5 PHARMACEUTICALS
           9.1.6 OTHERS

8 ETHYLENE VINYL ACETATE, BY REGION
    8.1. INTRODUCTION
    8.1. ASIA-PACIFIC
           8.1.1. CHINA
           8.1.2. JAPAN
           8.1.3. INDIA
           8.1.4. SOUTH KOREA
           8.1.5. MALAYSIA
           8.1.6. INDONESIA
           8.1.7. TAHILAND
           8.1.8. TAIWAN
           4.1.9 REST OF APAC
    8.2. NORTH AMERICA
           8.2.1. U.S.
           8.2.2. CANADA
           8.2.3. MEXICO
    8.3. EUROPE
           8.3.1. GERMANY
           8.3.2. ITALY
           8.3.3. SPAIN
           8.3.4. U.K.
           8.3.5. REST OF EUROPE
    8.3. REST OF WORLD
           8.3.1. SAUDI ARABIA
           8.3.2. BRAZIL
           8.3.3. OTHERS

9 IMPACT OF COVID-19 ON ETHYLENE VINYL ACETATE MARKET
    9.1. OVERVIEW
    9.2. COVID IMPACT ON RAW MATERIALS
    9.3. COVID IMPACT ON END-USE INDUSTRY
    9.4. TOP GAINERS FROM COVID-19
    9.5. TOP LOSERS FROM COVID-19

10 COMPETITIVE LANDSCAPE
     10.1. OVERVIEW
     10.2. EXPANSIONS
     10.3. MOST ACTIVE PLAYERS AND DEVELOPMENTS
     10.4. COMPETITIVE SITUATION AND TRENDS
             10.4.1. EXPANSIONS
             10.4.2. MERGER & ACQUISITIONS
             10.4.3. NEW PRODUCT DEVELOPMENTS
             10.4.4. PARTNERSHIPS & AGREEMENTS
     10.5. TOP5 COMPANIES MARKET SHARE ANALYSIS

11 COMPANY PROFILE 
     11.1. EXXON MOBIL CORPORATION
             11.1.1. BUSINESS OVERVIEW
             11.1.2. PRODUCTS OFFERED
             11.1.3. RECENT DEVELOPMENTS
             11.1.4. WINNING IMPERATIVES
             11.1.5. CURRENT FOCUS AND STRATEGIES
             11.1.6. THREAT FROM COMPETITION
     11.2. DOW INC.
             11.2.1. BUSINESS OVERVIEW
             11.2.2. PRODUCTS OFFERED
             11.2.3. RECENT DEVELOPMENTS
             11.2.4. WINNING IMPERATIVES
             11.2.5. CURRENT FOCUS AND STRATEGIES
             11.2.6. THREAT FROM COMPETITION
     11.3. HANWHA TOTAL PETROCHEMICAL
             11.3.1. BUSINESS OVERVIEW
             11.3.2. PRODUCTS OFFERED
             11.3.3. RECENT DEVELOPMENTS
             11.3.5. WINNING IMPERATIVES
             11.3.6. CURRENT FOCUS AND STRATEGIES
             11.3.7. THREAT FROM COMPETITION
     11.4. FORMOSA PLASTICS CORPORATION
             11.4.1. BUSINESS OVERVIEW
             11.4.2. PRODUCTS OFFERED
             11.4.3. RECENT DEVELOPMENTS
             11.4.4. WINNING IMPERATIVES
             11.4.5. CURRENT FOCUS AND STRATEGIES
             11.4.6. THREAT FROM COMPETITION
     11.5. LG CHEMICAL
             11.5.1. BUSINESS OVERVIEW
             11.5.2. PRODUCTS OFFERED
             11.5.3. RECENT DEVELOPMENTS
             11.5.5. WINNING IMPERATIVES
             11.5.6. CURRENT FOCUS AND STRATEGIES
             11.5.7. THREAT FROM COMPETITION
     11.6. SUMITOMO CHEMICAL CO., LTD.
             11.6.1. BUSINESS OVERVIEW
             11.6.2. PRODUCTS OFFERED
             11.6.3. RECENT DEVELOPMENTS
             11.6.4. WINNING IMPERATIVES
             11.6.5. CURRENT FOCUS AND STRATEGIES
             11.6.6. THREAT FROM COMPETITION
     11.7. BRASKEM SA
             11.7.1. BUSINESS OVERVIEW
             11.7.2. PRODUCTS OFFERED
             11.7.3. RECENT DEVELOPMENTS
             11.7.4. WINNING IMPERATIVES
             11.7.5. CURRENT FOCUS AND STRATEGIES
             11.7.6. THREAT FROM COMPETITION
     11.8. SIPCHEM
             11.8.1. BUSINESS OVERVIEW
             11.8.2. PRODUCTS OFFERED
             11.8.3. RECENT DEVELOPMENTS
             11.8.4. WINNING IMPERATIVES
             11.8.5. CURRENT FOCUS AND STRATEGIES
             11.8.6. THREAT FROM COMPETITION
     11.9. LYONDELLBASELL INDUSTRIES N.V.
     11.10. CELANESE CORPORATION
     11.11. BASF SE
     11.12. SK GLOBAL CHEMICAL CO., LTD.
     11.13. CLARIANT AG
     11.14. USI CORPORATION
     11.15. MITSUI CHEMICALS, INC.
     11.16. OTHER 10 PLAYERS’ SHORT PROFILES
*Note: This is a tentative list of companies and it may change during the course of study. Financial will be only provided for listed companies.

12 APPENDIX
     12.1. INSIGHTS FROM INDUSTRY EXPERTS
     12.2. DISCUSSION GUIDE
     12.3. AVAILABLE CUSTOMIZATIONS
     12.4. CONNECTED MARKET
     12.5. RELATED REPORTS

The study involved four major activities for estimating the current size of the global EVA  market. Exhaustive secondary research was carried out to collect information on the market, the peer market, and the parent market. The COVID-19 pandemic impact on the demand regarding end-use industries, application areas, and countries was comprehended. The next step was to validate these findings, assumptions and sizes with the industry experts across the supply chain of  EVA  market through primary research. Both the top-down and bottom-up approaches were employed to estimate the overall size of the EVA  market. After that, market breakdown and data triangulation procedures were used to determine the size of different segments and sub-segments of the market.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Factiva, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to identify and collect this study's  EVA  market. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; regulatory bodies, trade directories, and databases.

Primary Research

Various primary sources from both the supply and demand sides of the EVA  market were interviewed to obtain qualitative and quantitative information. The primary sources from the supply-side included industry experts, such as Chief Executive Officers (CEOs), vice presidents, marketing directors, sales professionals, and related key executives from various leading companies and organizations operating in the  EVA   market industry. The primary sources from the demand side included key executives from end-use industries. The breakdown of the profiles of primary respondents is as follows:

Ethylene Vinyl Acetate Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the global EVA   market size. These approaches were also used extensively to estimate the size of various segments of the market. The research methodology used to estimate the market size included the following details:

  • The key players were identified through extensive secondary research.
  • In terms of value, the industry's supply chain and market size were determined through primary and secondary research processes.
  • Impact of COVID-19 pandemic was ascertained
  • All percentage split and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and sub-segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all the segments and sub-segments of the EVA  market. The data was triangulated by studying various factors and trends from both the demand- and supply-side.

Report Objectives

  • To define, analyze, and project the size of the EVA   market in terms of value and volume based on type, application, and region
  • To project the size of the market and its segments with respect to the five main regions, namely, North America, Europe, Asia Pacific, and Rest of the World.
  • To provide detailed information about the key factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
  • To strategically analyze the micromarkets with respect to individual growth trends, COVID-19 pandemic impact, prospects, and their contribution to the total market
  • To analyze the opportunities in the market for stakeholders and provide a detailed competitive landscape of the market leaders
  • To analyze the competitive developments, such as new product launches, expansions, and acquisitions, in the    EVA   market
  • To strategically profile the key players operating in the market and comprehensively analyze their market shares and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the EVA  market report:

Product Analysis

  •  Product matrix, which offers a detailed comparison of the product portfolio of companies

Regional Analysis

  • Further breakdown of the Rest of the APAC, EVA  market into more nations not covered in the study
  • Further breakdown of Rest of Europe, EVA  market into more nations not covered in the study

Company Information

  •  Detailed analysis and profiling of additional market players (up to five)
COVID-19

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Report Code
CH 2362
Published ON
Sep, 2021
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