Ethylene Vinyl Acetate (EVA) Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Global Ethylene Vinyl Acetate (EVA) Market is segmented by Grade (Low Density, Medium Density, and High Density), Application (Films, Adhesives, Foams, Solar Cell Encapsulation, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The report offers market size and forecast for Ethylene Vinyl Acetate (EVA) in revenue (USD Million) and volume (kilo tons) for all the above segments.

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Ethylene Vinyl Acetate (EVA) Market Size

Ethylene Vinyl Acetate (EVA) Market Summary
Study Period: 2017-2027
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 4 %

Major Players

Ethylene Vinyl Acetate (EVA) Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Ethylene Vinyl Acetate (EVA) Market Analysis

The global ethylene-vinyl acetate (EVA) market is anticipated to register a CAGR of over 4% during the forecast period.

The COVID-19 pandemic impacted the market in 2020. As a result of months of lockdowns, international travel bans and retail business closures, sales, purchases, and usage fell across many end-user segments. However, the demand for ethylene-vinyl acetate (EVA) increased in 2021 and 2022.

  • Over the short term, the growing demand for ethylene-vinyl acetate (EVA) from the packaging industry and the rising usage in the solar industry are expected to drive the market.
  • On the flip side, the increasing threat of substitutes is expected to hinder the growth of the market studied.
  • The rising demand for agricultural applications is expected to offer opportunities for the market to grow over the forecast period.
  • The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period as the economies in the region are driving the market, leading to increased spending capacities among the people.

Ethylene Vinyl Acetate (EVA) Industry Segmentation

Ethylene-vinyl acetate is the thermoplastic resin produced by the co-polymerization process of vinyl acetate monomer and ethylene in a high-pressure reactor. Ethylene-vinyl acetate caters to various applications, such as films, adhesives, foams, and solar cell encapsulation, among others. 

The ethylene-vinyl acetate (EVA) market is segmented by grade, application, and geography. By grade, the market is segmented into Low Density, Medium Density, and High Density. By application, the market is segmented into Films, Adhesives, Foams, Solar Cell Encapsulation, and Other Applications. By geography, the market is segmented into Asia-Pacific, North America, Europe, South America, and Middle East and Africa. The report covers the market sizes and forecasts for the Global Ethylene Vinyl Acetate (EVA) market in 15 countries across major regions. For each segment, the market sizing and forecasts are provided in terms of volume (kilo tons) and revenue (USD million).

Grade
Low Density
Medium Density
High Density
Application
Films
Adhesives
Foams
Solar Cell Encapsulation
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Ethylene Vinyl Acetate (EVA) Market Trends

This section covers the major market trends shaping the Ethylene Vinyl Acetate (EVA) Market according to our research experts:

Rising Product Usage in the Films Application

  • Ethylene vinyl acetate, or EVA, is a copolymer of ethylene and vinyl acetate. It is an extremely elastic and tough thermoplastic of excellent clarity and glosses with little odor.
  • EVA has good flex crack and puncture resistance, and it is relatively inert, adheres well to many substrates, and is heat sealable, which makes its use in film applications attractive.
  • Although EVA is used in numerous film applications, this resin is not used unaided but is combined with other film resins.
  • As per the flexible packaging association, flexible packaging represents approximately 20% of the total packaging and is the second largest packaging segment behind corrugated paper.
  • Moreover, in the flexible packaging segment, films and resins account for the largest input, accounting for over 66.67% of total flexible packaging material purchases.
  • EVA is only an average barrier to gases and moisture, which does not make it the first preference for food packaging applications and, as a result, is more often replaced by metallocene PE in many of these applications.
  • However, EVA remains an important packaging material, and the demand is expected to remain strong primarily for non-food applications.
  • Owing to the aforementioned factors, the demand for EVA films is expected to grow during the forecast period.
Ethylene Vinyl Acetate (EVA) Market, Revenue CAGR (%), by Application, Global, 2022-2027

Asia Pacific to Dominate the Market

  • The Asia-Pacific market is the largest Ethylene Vinyl Acetate (EVA) market and is also expected to remain the largest market over the forecast period, owing to the major demand from China and India, majorly for the applications in the adhesive and packaging industry.
  • EVA is also increasingly used in footwear, hockey pads, martial art gloves, and other sports goods due to its shock absorber property.
  • China is among the top packaging industry in the world. The country is expected to witness consistent growth during the forecast period, owing to the rise of customized packaging in the food segment, like microwave food, snack foods, and frozen foods, along with increased exports.​
  • As per various reports, the Chinese Adhesives Market stood at USD 11.33 billion in 2022 and is projected to register a CAGR of 6.90% to reach USD 16.90 billion in 2028.
  • According to Invest India, the Indian market for paper and paperboard packaging materials was valued at USD 10.77 billion in 2021. It is expected to register a CAGR of 6.63% and to reach USD 15.69 billion by 2027.
  • The flexible packaging utilizes significant amount of EVA. As per the IBEF, the flexible packiging sector in India comprises 64% of the total packaging in the country.
  • Moreover, the increasing trends observed in the packaging materials exported from India are also favouring the market for EVA. According to IBEF, India's exports of packaging materials increased from USD 844 million in FY 2018–19 to USD 1,119 million in 2021–2022 at a CAGR of 9.9%.
  • All the aforementioned factors are expected to boost the demand for the market studied over the forecast period.
Ethylene Vinyl Acetate Market- Growth Rate by Region, 2022-2027

Ethylene Vinyl Acetate (EVA) Industry Overview

The global ethylene-vinyl acetate market is fragmented in nature, with only top players together accounting for approximately 30% of the total market. The key players in the market studied (not in any particular order) include Hanwha Solutions, Dow, Exxon Mobil Corporation, Celanese Corporation, and Sipchem Company.

Ethylene Vinyl Acetate (EVA) Market Leaders

  1. Hanwha Solutions

  2. Dow

  3. Exxon Mobil Corporation

  4. Celanese Corporation

  5. Sipchem Company

*Disclaimer: Major Players sorted in no particular order

Ethylene Vinyl Acetate (EVA) Market Concentration

Ethylene Vinyl Acetate (EVA) Market News

  • October 2022: Asian Paints announced an investment of INR 21,000 million (USD 261.22 million) for setting-up Ethylene Vinyl Acetate (EVA) and VAM (Vinyl Acetate Monomer) manufacturing facility in India with a proposed annual capacity of 100,000 tons of EVA.
  • May 2022: Braskem launched Ethylene Vinyl Acetate (EVA)-based sustainable 3D printing filaments for the application of 3d printing. The product is produced from bio-based ethylene vinyl acetate (EVA) filament derived from raw sugarcane and recycled polyethylene and polypropylene (PE/PP) blended filaments.

Ethylene Vinyl Acetate (EVA) Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Packaging Industry

      2. 4.1.2 Rising Usage in the Solar Industry

    2. 4.2 Restraints

      1. 4.2.1 Increasing Threat of Substitutes

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value and Volume)

    1. 5.1 Grade

      1. 5.1.1 Low Density

      2. 5.1.2 Medium Density

      3. 5.1.3 High Density

    2. 5.2 Application

      1. 5.2.1 Films

      2. 5.2.2 Adhesives

      3. 5.2.3 Foams

      4. 5.2.4 Solar Cell Encapsulation

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arlanxeo

      2. 6.4.2 Asia Polymer Corporation

      3. 6.4.3 Benson Polymers Limited

      4. 6.4.4 Braskem

      5. 6.4.5 Celanese Corporation

      6. 6.4.6 Clariant AG

      7. 6.4.7 Dow

      8. 6.4.8 ExxonMobil Corporation

      9. 6.4.9 Hanwha Solutions/Chemical Corporation

      10. 6.4.10 Innospec Inc.

      11. 6.4.11 Kemipex

      12. 6.4.12 LyondellBasell Industries Holdings BV

      13. 6.4.13 Repsol

      14. 6.4.14 Sipchem

      15. 6.4.15 SK Global

      16. 6.4.16 Sumitomo Chemical Co. Ltd

      17. 6.4.17 Tosoh Corporation

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Rising Demand from Agricultural Applications

**Subject to Availability
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Ethylene Vinyl Acetate (EVA) Market Research FAQs

The Ethylene Vinyl Acetate (EVA) Market is studied from 2017 - 2027.

The Ethylene Vinyl Acetate (EVA) Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2017-2027.

Asia Pacific holds highest share in 2021.

Hanwha Solutions, Dow, Exxon Mobil Corporation, Celanese Corporation, Sipchem Company are the major companies operating in Ethylene Vinyl Acetate (EVA) Market.

Ethylene Vinyl Acetate (EVA) Industry Report

Statistics for the 2023 Ethylene Vinyl Acetate (EVA) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Ethylene Vinyl Acetate (EVA) analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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