PUBLISHER: The Business Research Company | PRODUCT CODE: 1391209
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391209
“Ethylene Vinyl Acetate Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ethylene vinyl acetate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ethylene vinyl acetate? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ethylene vinyl acetate market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Ethylene-Vinyl Acetate (EVA) is a versatile elastomeric copolymer composed of ethylene and vinyl acetate, creating rubber-like materials with attributes such as durability, crack resistance, and flexibility. EVA is specifically designed to offer improved stress crack resistance and maintain flexibility without the need for plasticizers across a broad temperature range, spanning from 60 °C to 150 °C.
The different types of ethylene vinyl acetate include very low-density EVA, low-density EVA, medium-density EVA, and high-density EVA. Low-density EVA, derived from low-density polyethylene and vinyl acetate, exhibits high mechanical strength and flexibility at low temperatures. It surpasses PVC in resilience and outperforms LDPE in flexibility, with increased permeability to water vapor and gases. EVA finds applications in film production, foam manufacturing, hot melt adhesives, wire and cable insulation, extrusion casting, and solar cell encapsulation. These applications cater to a variety of industries, including footwear and foams, packaging, agriculture, photovoltaic panels, pharmaceuticals, and more.
The ethylene vinyl acetate market research report is one of a series of new reports from The Business Research Company that provides ethylene vinyl acetate market statistics, including ethylene vinyl acetate industry global market size, regional shares, competitors with an ethylene vinyl acetate market share, detailed ethylene vinyl acetate market segments, market trends and opportunities, and any further data you may need to thrive in the ethylene vinyl acetate industry. This ethylene vinyl acetate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ethylene vinyl acetate market size has grown strongly in recent years. It will grow from $8.41 billion in 2023 to $9.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to the demand from various industries, including the footwear industry, packaging and film applications, solar panel encapsulation, medical devices, and automotive interiors.
The ethylene vinyl acetate market size is expected to see strong growth in the next few years. It will grow to $12.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the increasing demand in various sectors, including the growing solar energy market, emphasis on recycling and the circular economy, the pursuit of lightweight and sustainable footwear, expanded EVA versatility, and the focus on healthcare and pandemic preparedness. Major trends in the forecast period include efforts to reduce noise in the automotive industry, the integration of EVA in electric vehicles (EVs), the development of EVA-based medical devices, the use of smart packaging with EVA, and ongoing biomedical innovations.
The ethylene vinyl acetate (EVA) market is experiencing growth, driven by increased demand from the packaging industry. This surge is particularly notable due to a rise in online purchasing during the COVID-19 crisis, leading to a higher demand for packaging materials. EVA, being a prevalent polymer in hot melt adhesives for packaging applications, offers favorable properties such as water resistance, corrosion resistance, ease of processing, anti-vibration, and thermal insulation. These characteristics make EVA packaging materials strong, reusable, and aesthetically pleasing, gaining popularity among consumers. For instance, in 2022, the U.S. flexible packaging industry witnessed a substantial increase in sales, reaching an estimated $39 billion, up from $34.8 billion in the previous year, as reported by the Flexible Packaging Association. The growing demand for packaging materials, coupled with the positive growth trajectory of the packaging industry, is expected to further drive the ethylene vinyl acetate market.
The growth of the footwear industry is poised to contribute significantly to the expansion of the ethylene-vinyl acetate market. EVA is widely used in the footwear industry due to its desirable properties, including flexibility, cushioning, lightweight, and durability. With the footwear industry encompassing the design, manufacturing, marketing, and sale of various types of footwear, including athletic shoes, sandals, and boots, the demand for EVA is expected to rise. For instance, in September 2023, the US athletic footwear sector generated $14.5 billion in revenue in 2022, with a projected growth of approximately 2.9% in 2023, as reported by RunRepeat. The shift toward online sales, accounting for 27% in 2022 and increasing to 32% in 2023, further emphasizes the growing significance of the footwear industry in driving the ethylene-vinyl acetate market.
A key trend gaining popularity in the ethylene vinyl acetate market is the introduction of new technologies for its production. Companies involved in EVA production are adopting innovative technological processes to enhance manufacturing performance and meet the increasing demand for EVA in the market. In April 2021, LyondellBasell, a Netherlands-based chemical company, announced that Shandong Yulong Petrochemical Co. Ltd., a China-based oil and natural gas company, had implemented LyondellBasell's Lupotech T high-pressure polyethylene technology in two production lines at a new plant. This technology enables the production of low-density polyethylene (LDPE) with vinyl acetate copolymer on a 200 KTA LDPE line and a 300 KTA LDPE and ethylene-vinyl acetate copolymer (EVA) line. This reflects the industry's commitment to adopting advanced technologies to meet evolving market demands and enhance production efficiency in the ethylene vinyl acetate market.
Major companies in the ethylene vinyl acetate (EVA) market are strategically focusing on expanding their production capacities to cater to the increasing demand for EVA, thereby reinforcing their positions as leading global producers of this polymer. An example of this proactive approach is demonstrated by Celanese Corporation, a US-based materials company. In February 2023, Celanese Corporation completed an ultra-low capital project aimed at repurposing existing manufacturing and infrastructure assets. This initiative, executed at its Edmonton, Alberta facility, resulted in a substantial increase in EVA production capacity, approximately 35%. The project was not only completed within the allocated budget and timeline but is also expected to generate approximately $10 million per year in additional operating EBITDA across the integrated acetyl value chain. This strategic move positions Celanese Corporation to meet the growing demand for EVA efficiently and solidifies its standing as a major player in the market.
Strategic partnerships and collaborations have emerged as key trends in the ethylene vinyl acetate market. Leading players in the sector are actively engaging in partnerships and collaborations to strengthen their positions in the market. For instance, in October 2021, ECI Group S.R.L, an Italy-based company providing professional services, collaborated with Shandong Yulong Petrochemical Co., Ltd., a China-based company engaged in oil and natural gas refining, and Repsol SA, a Spain-based energy and petrochemicals company. Through this collaboration, the companies aim to jointly produce 200,000 tonnes of Ethylene Vinyl Acetate (EVA) and other associated high-pressure copolymers from the dual-stream plant at Shandong Yulong Petrochemical in the future. This collaborative approach allows companies to leverage each other's strengths and resources to enhance production capabilities and meet the market demand for EVA effectively.
Major companies operating in the ethylene vinyl acetate market include 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
Asia-Pacific was the largest region in the ethylene vinyl acetate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the ethylene vinyl acetate market during the forecast period. The regions covered in the global ethylene vinyl acetate market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the ethylene vinyl acetate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The ethylene vinyl acetate market consists of sales of anti-PID EVA, UV-resistant EVA, and UV-transparent EVA. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.