Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "Ethylene Vinyl Acetate (EVA) - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets.com's offering.
The Ethylene Vinyl Acetate Market size is estimated at 4.80 Million tons in 2024, and is expected to reach 6.16 Million tons by 2029, growing at a CAGR of 5.09% during the forecast period (2024-2029).
The COVID-19 pandemic impacted the market in 2020. As a result, international travel bans and retail business closures, sales, purchases, and usage fell across many end-user segments. However, the demand for ethylene-vinyl acetate (EVA) increased in 2021 and 2022.
Key Highlights
- Over the short term, the growing demand for ethylene-vinyl acetate (EVA) from the packaging industry and agricultural applications is expected to drive the market.
- Conversely, the increasing threat of substitutes is expected to hinder the market's growth.
- The increasing demand for photovoltaic (PV) solar cell encapsulants is expected to offer growth opportunities for the market during the forecast period.
- Asia-Pacific is expected to dominate the market and is likely to witness the highest CAGR during the forecast period as the economies in the region are driving the market, leading to increased spending capacities among the people.
Films Application to Dominate the Market
- Ethylene Vinyl Acetate is a copolymer resin that, when heated and mixed thoroughly before being extruded through a flat die, forms EVA films. These films are available in white, clear, and other different colors and provide a non-sticky and smooth surface finish. EVA films are generally sandwiched between two plastic or glass sheet pieces as an interlayer.
- In lower percentages, EVA films have been used for frozen food packaging (at 6% EVA), bread bags (at 2% EVA), and ice bags (at 4% EVA), as it helps provide enhanced sealability for such applications. Further, in higher percentages, with up to 20% EVA, these films are used in applications involving low melt/total batch inclusion bags. Similarly, in solar panels, films with up to 33% EVA are used as a bonding layer for these panels.
- The rising demand for EVA films in non-food applications, photovoltaic encapsulations, and solar panels is anticipated to strengthen the EVA films market during the forecast period.
Asia-Pacific to Dominate the Market
- The Asia-Pacific market is the largest ethylene vinyl acetate (EVA) market. It is also expected to remain the largest market during the forecast period, owing to the major demand from China and India, mainly for the adhesive and packaging industry applications.
A selection of companies mentioned in this report includes
- Arlanxeo
- Asia Polymer Corporation
- Basf-ypc Company Limited
- Benson Polymers
- Braskem
- Celanese Corporation
- China Petrochemical Corporation
- Clariant
- Dow
- Exxonmobil Corporation
- Formosa Plastics Corporation
- Hanwha Solutions
- Hd Hyundai Oilbank Co.
- Innospec
- Jiangsu Sailboat Petrochemical Co. Ltd
- Levima Advanced Materials Corporation
- LG Chem
- Lyondellbasell Industries Holdings BV
- Repsol
- Sinochem Holdings Corporation Ltd
- Sipchem Company
- Sumitomo Chemical Co. Ltd
- Zhejiang Petroleum & Chemical Co. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/uucky
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