New York, United States , July 11, 2024 (GLOBE NEWSWIRE) -- The Global Ethylene Vinyl Acetate Market Size is Expected to Grow from USD 11.03 Billion in 2023 to USD 20.9 Billion by 2033, at a CAGR of 6.60% during the forecast period 2023-2033.
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Ethylene-vinyl acetate (EVA), also known poly ethylene-vinyl acetate) (PEVA), is a copolymer of ethylene and vinyl acetate. It is a soft and flexible polymer similar to elastomeric ("rubber-like") compounds. The material exhibits high clarity and gloss, low-temperature toughness, stress-crack resistance, waterproofing using hot-melt adhesive, and UV resistance. EVA has a distinctive vinegar-like odor and competes with rubber and vinyl in a variety of electrical applications. ethylene vinyl acetate (EVA) is a versatile chemical utilized in a variety of industries. The EVA (Ethylene Vinyl Acetate) market is expanding rapidly, owing to its numerous applications in a variety of industries. In footwear, particularly in the sporting and leisure categories, there is an increased desire for comfortable and lightweight shoes, which is driving EVA utilization. The material's versatility in packaging foams addresses the growing demand for protective and environmentally friendly packaging solutions across industries. In construction, EVA is sought after for sealants, adhesives, and insulating products, profiting from the industry's rise in emerging markets. However, the ethylene vinyl acetate (EVA) sector is facing considerable challenges as raw material costs, notably for ethylene and vinyl acetate monomers, remain volatile. Fluctuations in these prices immediately affect manufacturing costs, resulting in inconsistent pricing structures and lower profit margins for businesses.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Ethylene Vinyl Acetate Market Size, Share, and COVID-19 Impact Analysis, By Type (Very Low-Density, Low-Density, Medium-Density, and High-Density EVA), By End-User (Photovoltaic Panels, Footwear & Foams, Packaging, Pharmaceuticals, Agriculture), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The high-density EVA segment is predicted to hold the largest market share through the forecast period.
Based on the type, the ethylene vinyl acetate market is classified into very low-density, low-density, medium-density, and high-density EVA. Among these, the high-density EVA segment is predicted to hold the largest market share through the forecast period. High-density EVA is widely used in industries including packaging, automotive, footwear, and construction, where its durability is prized. Demand is increasing in sectors that require high-performance materials, such as car interiors and industrial applications, high-density EVA is likely to maintain its market dominance due to its advantages of clarity, good surface quality, a wide range of colors, ease of maintenance, surface hardness, lightweight, and simple production of high-density EVA.
The footwear & foams segment is anticipated to hold the highest market share during the projected timeframe.
Based on the end-user, the ethylene vinyl acetate market is divided into photovoltaic panels, footwear & foams, packaging, pharmaceuticals, and agriculture. Among these, the footwear & foams segment is anticipated to hold the highest market share during the projected timeframe. This dominance originates from the widespread use of EVA in footwear due to its lightweight, cushioning, and flexibility. Furthermore, EVA is widely used in foam applications such as padding for sports equipment, mattresses, and car interiors.
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Asia Pacific is estimated to hold the largest share of the ethylene vinyl acetate market over the forecast period.
Asia Pacific is estimated to hold the largest share of the ethylene vinyl acetate market over the forecast period. Asia Pacific dominates the ethylene vinyl acetate market due to rapid industrial development and widespread use in a multitude of industries. The region's thriving manufacturing industries, particularly in China and India, are fueling strong demand for EVA in footwear, packaging, construction, and automotive applications.
North America is predicted to have the highest CAGR growth in the ethylene vinyl acetate market over the forecast period. This growth is driven by technological advancements, increasing demand for renewable energy applications such as solar power, expanding use in consumer products like footwear and medical devices, ongoing investments in research and development, and stringent environmental regulations favoring eco-friendly materials.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. Major key players in the ethylene vinyl acetate market include DuPont, Hanwha Total Petrochemical., Ltd., Arkema SA, Celanese Corporation, Saudi Basic Industries Corporation, Tosoh Corporation, Sinopec Corporation, Exxon Mobil Corporation, Innospec, BASF SE, Clariant International Ltd., and Others.
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Recent Developments
- In June 2024, Univation Technologies, LLC released UNIGILITY tubular high-pressure PE process technology, a licensed technological platform for producing LDPE and EVA copolymers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the ethylene vinyl acetate market based on the below-mentioned segments:
Global Ethylene Vinyl Acetate Market, By Type
- Very Low-Density
- Low-Density
- Medium-Density
- High-Density EVA
Global Ethylene Vinyl Acetate Market, By End-User
- Photovoltaic Panels
- Footwear & Foams
- Packaging
- Pharmaceuticals
- Agriculture
Global Ethylene Vinyl Acetate Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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