USD 9.7 billion
Ethylene Vinyl Acetate Market Size, Share, Growth Analysis, By Type(Low-density ethylene vinyl acetate (LDPEVA), medium-density ethylene vinyl acetate (MDPEVA), and high-density ethylene vinyl acetate (HDPEVA)), By End-user(Packaging, automotive, footwear, construction), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15B2073 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
66
|Figures:
75
Ethylene Vinyl Acetate Market Insights
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.
US Ethylene Vinyl Acetate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
packaging
Fastest Growth
packaging
Growth Rate
6.8% CAGR
Global Ethylene vinyl acetate market by region
Country Share for North America (%)
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Ethylene Vinyl Acetate Market Segmental Analysis
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.
Ethylene Vinyl Acetate Market 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.
Ethylene Vinyl Acetate Market 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.
Global Ethylene vinyl acetate market by end-user
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Ethylene Vinyl Acetate Market Regional Insights
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.
Global Ethylene vinyl acetate market by geography
- Largest
- Fastest
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Ethylene Vinyl Acetate Market Dynamics
Ethylene Vinyl Acetate Market Drivers
Demand from Numerous End User Industries
- EVA is widely used in the healthcare and medical industries for products such as surgical gloves, tubing, and medical packaging. The expanding healthcare sector, coupled with technological advancements and the increasing focus on hygiene and safety, is driving the demand for EVA in medical applications.
- The rapid urbanization and infrastructure development in emerging economies, particularly in Asia-Pacific and Latin America, are generating significant demand for EVA. EVA is used in applications such as wire and cable insulation, coatings, and sealants, which are essential for infrastructure development projects.
Ethylene Vinyl Acetate Market Restraints
Harmful Effects on Human Health
- Volatility in raw material prices: Fluctuations in the prices of raw materials used in the production of ethylene vinyl acetate can impact the profitability of manufacturers and restrain market growth.
- Environmental concerns: Ethylene vinyl acetate may release volatile organic compounds (VOCs) during processing and application, which can be harmful to the environment and pose regulatory challenges.
- The presence of various alternatives in the adhesive and sealant market can create a competitive environment for ethylene vinyl acetate, affecting market growth and profit margins for manufacturers.
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Ethylene Vinyl Acetate Market Competitive Landscape
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.
Ethylene Vinyl Acetate Market Top Player’s Company Profiles
- Exxon Mobil Corporation (USA)
- Dow Inc. (USA)
- LyondellBasell Industries N.V. (Netherlands)
- Celanese Corporation (USA)
- E.I. du Pont de Nemours and Company (USA)
- Hanwha Chemical Corporation (South Korea)
- Braskem S.A. (Brazil)
- LG Chem Ltd. (South Korea)
- Arkema S.A. (France)
- Saudi Basic Industries Corporation (SABIC) (Saudi Arabia)
- BASF SE (Germany)
- Formosa Plastics Corporation (Taiwan)
- TotalEnergies SE (France)
- Eastman Chemical Company (USA)
- Westlake Chemical Corporation (USA)
- Tosoh Corporation (Japan)
- China Petrochemical Corporation (Sinopec) (China)
- Borealis AG (Austria)
- China National Petroleum Corporation (CNPC) (China)
- INEOS Group AG (Switzerland)
Ethylene Vinyl Acetate Market Recent Developments
- In May 2020, Arlanxeo, a global synthetic rubber manufacturer, established its headquarters in The Hague, Netherlands, to strengthen its ties with its parent company. The Corporate Center, located in The Hague, comprises key executives such as the CEO, CFO, General Counsel, CHRO (Chief Human Resources Officer), Global Controller, and Head of Communications. This strategic move aims to facilitate closer collaboration and coordination between Arlanxeo and its parent company, Aramco Overseas Company, which is a subsidiary of Saudi Aramco.
Ethylene Vinyl Acetate Key Market Trends
- Continuous research and development efforts have led to the introduction of advanced EVA products with improved properties, such as enhanced adhesion, flexibility, and durability. These advancements are expanding the application areas of EVA and attracting new customers, thereby driving the growth of the global EVA market.
Ethylene Vinyl Acetate Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 9.7 billion |
| Market size value in 2031 | USD 17.54 billion |
| Growth Rate | 6.8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ethylene Vinyl Acetate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ethylene Vinyl Acetate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ethylene Vinyl Acetate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ethylene Vinyl Acetate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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