The global Ethylene Vinyl Acetate (EVA) Market is projected to reach USD 9.71 Billion at a CAGR of 3.5% by 2020. This growth is fuelled by the high potential from the packaging and solar power industry, increasing global demand for EVA in footwear & foams sector, and the growth in the Asia-Pacific region.
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Currently, the demand for ethylene vinyl acetate is driven by its increasing demand in film, compounding, and wire & cable applications that require material with specific properties. The properties such as softness, flexibility, low temperature toughness, stress-crack resistance, resistance to UV radiations, and so on, makes ethylene vinyl acetate a preferred material in these industries. Emerging high and medium density ethylene vinyl acetate encloses the important opportunities in the ethylene vinyl acetate market. The growing medium density ethylene vinyl acetate market mainly includes film and injection molding application. High density ethylene vinyl acetate market has improved material properties and hence is finding emerging applications in industries such as injection molding, hot melt adhesives, coating, and solar panels.
Also, medium density ethylene vinyl acetate has now become an essential market due to its increased demand by various end use industries. Various modifications in high density ethylene vinyl acetate properties will enhance and help its market to emerge that will further play a crucial role in increasing the overall ethylene vinyl acetate market.
The Asia-Pacific region leads in the consumption of ethylene vinyl acetate. Its consumption in the other regions is industry specific. Film and injection molding applications share a large consumption both in the Asia-Pacific and ROW regions. The consumption of ethylene vinyl acetate in film industry is quite high in ROW and the Asia-Pacific, and is slowly penetrating into the North American market. The growth of fast developing countries in the Asia–Pacific assures investment and increase in consumption of ethylene vinyl acetate. Also, increasing purchasing power in developing countries and need for high performance products may add to its high demand in the future.
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The EVA market has a few numbers of global players competing significantly for the market share, who are actively investing in various strategies. Major players such as The Dow Chemical Company (U.S.), ExxonMobil Corporation (U.S.), LyondellBasell Industries NV (Netherlands), E.I. du Pont de Nemours & Co. (U.S.), Celanese Corporation (U.S.), and Arkema S.A. (France) among others have adopted various organic and inorganic developmental strategies.
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