Ethylene Vinyl Acetate Market by Type (Very low-density, Low-density, Medium-density, and High-density), End-use Industry (Footwear & Foams, Packaging, Agriculture, Photovoltaic Panels, Pharmaceuticals, and Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 10.12 billion mark in 2022 and is expected to hit US$ 16.5 billion by 2030, recording a CAGR of 5.8% during the forecast period.
Global solar PV installation is expected to rise significantly during the predicted period, thereby increasing the demand for EVA.
The government of several industrialised and emerging countries have made significant investments in the global solar power industry, which has led to its rapid growth to advance alternative energy. As one of the most dependable and environmentally friendly energy sources, solar energy is a viable replacement for fossil fuels, mainly to blame for environmental pollution and global warming. Solar modules use ethylene vinyl acetate as an encasing compound to provide sound radiation transmission and low photo degradability. Additionally, it is utilised to create coatings that encapsulate and insulate solar cells.
Within the report, the market is segmented into type, end-use industry, and geography. By type, the market is further segmented into very low-density, low-density, medium-density, and high-density. Based on the end-use industry, the market is bifurcated into footwear & foams, packaging, agriculture, photovoltaic panels, pharmaceuticals, and others Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Introducing ethylene vinyl acetate with a biobased composition
A significant development for the polymer sector could be the substitution of petroleum-based EVA copolymers with bio-based ones. The sustainable resources of sugarcane, which is used to create biobased EVA, capture CO2, and help to lower greenhouse gas emissions. For those wishing to incorporate green EVA into a new product concept, it can be used in footwear, toys, general foams, and several other uses.
Rising adoption in various applications is one of the major factors accelerating market growth.
Acetate vinyl ether (EVA) commercially, EVA with a vinyl acetate content of 6% to 10% is used for film application. Due to its advantages, such as a lower melting point, greater transparency, good impact resistance, thermal stability, elasticity, and hygienic qualities, EVA copolymer-produced films have become the most popular.
Recent strategic developments in ethylene vinyl acetate market
The ethylene vinyl acetate market has undergone several significant developments, and a few of these have been mentioned below:
- Tosoh Corporation launched the full-scale operation of its new main research building in Shuan city, China, in 2020.
- Dow Inc. had announced the expansion of its Canada-based ethylene production facility by 130 kilotons in Feb 2020.
The ethylene vinyl acetate market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ExxonMobil Corporation, Dow Inc., SIPCHEM, Formosa Plastics Corporation, and Hanwha Total Petrochemical are the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Ethylene vinyl acetate service providers
- Packaging manufacturers
- Pharmaceuticals manufacturers
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Pharmaceutical distributors and sales firms
- Chemicals and Materials industry
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented based on:
- Type:
- Very low-density ethylene vinyl acetate
- Low-density ethylene vinyl acetate
- Medium density ethylene vinyl acetate
- High-density ethylene vinyl acetate
- End-Use Industry:
- Footwear & Foams
- Packaging
- Agriculture
- Photovoltaic Panels
- Pharmaceuticals
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- ExxonMobil Corporation
- Dow Inc.
- SIPCHEM
- Formosa Plastics Corporation
- Hanwha Total Petrochemical
Companies profiled
- ExxonMobil Corporation
- Dow Inc.
- SIPCHEM
- Formosa Plastics Corporation
- Hanwha Total Petrochemical