USD 9.7 billion
Report ID: SQMIG15B2073 | Region: Global | Published Date: August, 2023 | Pages: 157 | Tables: 66 | Figures: 75
Global Ethylene Vinyl Acetate Market size was valued at USD 9.7 billion in 2021 and is poised to grow from USD 11.06 billion in 2023 to USD 17.54 billion by 2030, at a CAGR of 6.8% during the forecast period (2023-2030).
EVA is widely used in the packaging industry for applications such as films, laminates, and hot melt adhesives. The increasing demand for flexible packaging solutions, especially in the food and beverage sector, is driving the growth of the EVA market.
It is a crucial material in the production of photovoltaic solar panels. As the solar energy sector continues to expand, driven by government incentives and environmental concerns, the demand for EVA films for encapsulating solar cells is increasing, positively impacting the EVA market.
It is extensively used in the manufacturing of footwear, especially in the production of midsoles and outsoles. The rising global population, growing disposable incomes, and changing fashion trends are driving the demand for footwear, which in turn is fueling the demand for EVA in the market.
It is used in the automotive industry for various applications, including interior trims, soundproofing, and sealing. With the increasing production of automobiles globally and the growing demand for lightweight and fuel-efficient vehicles, the demand for EVA in the automotive sector is experiencing steady growth.
Global Market Size
USD 9.7 billion
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The ethylene vinyl acetate market is segmented based on type, end-use industry, and region. In terms of type, the market includes low-density ethylene vinyl acetate (LDPEVA), medium-density ethylene vinyl acetate (MDPEVA), and high-density ethylene vinyl acetate (HDPEVA). End-use industries for ethylene vinyl acetate comprise packaging, automotive, footwear, construction, electronics, and others. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Analysis by Type
The largest market segment is likely to be the low-density ethylene vinyl acetate (LDPEVA) due to its versatile properties and widespread applications in various industries. LDPEVA is commonly used in flexible packaging, automotive components, footwear, and adhesives, making it a highly demanded type in the market.
The fastest-growing segment is expected to be the medium-density ethylene vinyl acetate (MDPEVA) due to its increasing use in the automotive and construction industries. MDPEVA offers a balance of flexibility and strength, making it suitable for applications such as molded automotive parts and construction materials. As these industries continue to expand, the demand for MDPEVA is projected to witness significant growth.
Analysis by End-user
The packaging industry is the largest end-user segment for ethylene vinyl acetate. EVA's excellent properties, such as flexibility, transparency, and toughness, make it a preferred choice for various packaging applications. EVA is used in flexible packaging for food and non-food items, as well as in pharmaceutical packaging and medical products due to its ability to provide a protective barrier and maintain the integrity of the contents.
The automotive industry is expected to be the fastest-growing end-user segment for ethylene vinyl acetate. EVA is increasingly being used in automotive applications, such as automobile bumpers, molded automotive parts, and interior trim components. Its lightweight and impact-resistant properties make it valuable in reducing vehicle weight while enhancing safety and performance. The growing demand for fuel-efficient and electric vehicles is likely to drive the adoption of EVA in the automotive sector.
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Asia-Pacific is the largest market for ethylene vinyl acetate. The region's dominance can be attributed to its significant presence in industries such as packaging, automotive, footwear, and construction. Countries like China, India, and Japan are major consumers of ethylene vinyl acetate due to the rapid industrialization, urbanization, and increasing disposable incomes, which drive the demand for various end-use products where EVA is extensively used.
Latin America is expected to be the fastest-growing market for ethylene vinyl acetate. The region's growth can be attributed to the increasing adoption of ethylene vinyl acetate in packaging, construction, and automotive industries. Additionally, the rising demand for healthcare products due to the ongoing COVID-19 pandemic is likely to drive the usage of ethylene vinyl acetate in medical applications in the region.
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Demand from Numerous End User Industries
Harmful Effects on Human Health
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The ethylene vinyl acetate (EVA) market features a competitive landscape with several key players striving to strengthen their market position. Major companies in the market are focused on product innovation, research and development, and strategic partnerships to gain a competitive edge. Additionally, investments in expanding production capacities and geographical presence are common strategies to meet the growing demand for EVA in various end-use industries. These companies compete based on factors such as product quality, price, technological advancements, and customer service. Additionally, sustainable practices and environmentally friendly solutions have become crucial factors in the competitive landscape as the market is increasingly focused on eco-friendly alternatives. Overall, the ethylene vinyl acetate market is characterized by intense competition and dynamic market forces, driving players to continuously innovate and adapt to meet the diverse needs of end-users across different industries.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the ethylene vinyl acetate market is expected to witness promising future prospects in the coming years. The increasing demand for multipurpose solutions in adhesives, sealants, and coatings across various industries, including automotive, packaging, footwear, and healthcare, is likely to drive the market growth. The ethylene vinyl acetate (EVA) market is witnessing several key market trends that are shaping its growth trajectory. One prominent trend is the increasing demand for EVA in various end-use industries, such as packaging, automotive, footwear, and construction. The versatility of EVA as a multipurpose solution for adhesives, sealants, coatings, and other applications is driving its adoption in these sectors. Moreover, the growing need for medical and healthcare products, including temperature guns, pharmaceutical packaging, and others, due to the global COVID-19 pandemic crisis, is boosting the demand for EVA copolymers in the medical and packaging segments.
|Market size value in 2021||USD 9.7 billion|
|Market size value in 2030||USD 11.06 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Ethylene Vinyl Acetate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ethylene Vinyl Acetate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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