Portland, OR, Aug. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ethylene vinyl acetate resins market was pegged at $8.4 billion in 2020 and is estimated to hit $13.7 billion by 2028, registering a CAGR of 6.3% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Development of the packaging industry, economic growth, increased income level, rising investment in solar energy generation set-ups, and surge in its demand from different sectors drive the growth of the global ethylene vinyl acetate resins market. On the other hand, rise in threat of substitutes and concerns associated with usage of EVA in photovoltaic packaging impede the growth to some extent. However, introduction of bio-based EVA resin materials is expected to pave the way for lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic gave way to insufficient raw materials supply, which in turn impacted the production rate of ethylene vinyl acetate resins negatively.
- Nevertheless, with the mass vaccination drive on board, the global ethylene vinyl acetate resins market is projected to recoup soon.
The global ethylene vinyl acetate resins market is analyzed across type, application, end user, and region. Based on type, the thermoplastic ethylene vinyl acetate segment accounted for more than two-thirds of the total market share in 2020, and is projected to rule the roost by the end of 2028. The Ethylene vinyl acetate rubber segment, on the other hand, would cite the fastest CAGR of 6.8% throughout the forecast period.
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Based on application, the foam segment contributed to nearly three-fifths of the total market revenue in 2020, and is expected to lead the trail by 2028. The extrusion coating segment, however, would register the fastest CAGR of 7.2% from 2021 to 2028.
Based on geography, Asia-Pacific held the major share in 2020, garnering nearly three-fifths of the global market. The market across the region would also exhibit the fastest CAGR of 6.5% by 2028. The other two provinces discussed in the report include North America, Europe, and LAMEA.
The leading market players analyzed in the global ethylene vinyl acetate resins market report include Al Habib Polymers FZE, Arkema S.A., Braskem S.A., Hanwha Chemical Corporation, Celanese Corporation, Lyondellbasell Industries Holding B.V, Dow Inc., Exxon Mobil Corporation, Sipchem, and Formosa Plastics Corporation. These market players have incorporated different strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
