Global Ethylene Vinyl Acetate (EVA) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Chemical and Material Date : January 15th, 2019
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The global ethylene vinyl acetate market was valued at USD 7.5 billion in 2017, and is likely to generate a demand of USD 11.6 billion by 2024, at a CAGR of 6.1% over the next seven years. Rising demand for ethylene vinyl acetate across a wide range of end-use industries is expected to drive the market growth. Moreover, considerable growth in the solar power industry is set to accelerate market demand over the forecast period. The years used for the assessment are as follows;

  • Historical year : 2014, 2015 and 2016
  • Base year  : 2017
  • Forecast period: 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the ethylene vinyl acetate market and its various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the market
  • Finalizing the overall size and share for the global market

OBJECTIVES:

  • To classify global ethylene vinyl acetate market into segments on the basis of type, application and end-use to analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with ethylene vinyl acetate
  • Profiling key companies operating in the global market
  • To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE 

The research scope for ethylene vinyl acetate (EVA) market is as follows:

By Type

  • Vinyl Acetate Modified Polyethylene (Low VA density)
  • Thermoplastic Ethylene Vinyl Acetate (Medium VA density)
  • Ethylene Vinyl Acetate Rubber (High VA density)

By Application

  • Hot melt adhesives
  • Foam
  • Injection Molding
  • Films
  • Wires & Cables
  • Solar Cell Encapsulation
  • Extrusion Coating
  • Others 

By End-Use

  • Packaging
  • Footwear & Foams
  • Paints, Coatings & Adhesives
  • Automotive
  • Electronics
  • Photovoltaic Panels
  • Pharmaceutical
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Central & South America (CSA)
  • Middle East & Africa (MEA)

The market for ethylene vinyl acetate (EVA) is projected to augment owing to its growing use in end-use industries such as packaging, construction, footwear & foams, electronics, adhesives, automotive, and photovoltaic panels, among others. Growing use of EVA for film application across various industries on account of its resilience, flexibility, and resistance to UV radiation is projected to fuel the market demand. Also, presence of considerable opportunities in the emerging economies of Asia-Pacific and the Middle East is expected to further propel the market demand.

EVA is produced by the process of high pressure continuous bulk copolymerization using either autoclave or tubular reactors. EVA is a polymer that is similar to elastomeric materials in terms of flexibility and softness, yet can be processed like other thermoplastics. EVA offers good clarity and gloss; low-temperature toughness; extensive barrier properties; water proof properties; stress-crack resistance; and UV resistance. It has little or no odour and proves to be competitive with rubber and other vinyl products in several electrical applications.

Ethylene vinyl acetate is primarily used as a hot melt adhesive, and a greater content of VA may result in more flexibility, higher transparency and better wetability of substrates. Majority of the EVA based hot melt adhesives do not have significant surface tack and are not pressure sensitive at room temperature. They are required to be bonded at elevated temperatures by hot tack. Also, EVA’s with a higher VA content, offer longer open time along with a reduced set time.

Moreover, ethylene vinyl acetate finds its use across a wide range of applications. EVA foam is used as padding in various sports equipments such as hockey pads, boxing and mixed martial arts gloves, ski boots, wakeboard boots, and bicycle saddles, among others. It is also used as a shock absorber in sports shoes, and key manufacturers offer EVA-based compression moulded foam that is used in the manufacture of running shoes. Further, EVA is also used in the manufacture of floats for commercial fishing. Also, EVA is used as a clinginess-enhancing additive in plastic wraps.

Ethylene vinyl acetate is highly used as an encapsulation material for silicon cells in the manufacture of photovoltaic modules owing to its excellent melt fluidity, light transmittance, and elasticity. Another significant use of EVA is as a drug-delivery device in biomedical engineering applications. Additionally, these are used in bookbinding, coatings, and in the manufacture of textiles, footwear and artificial flowers. However, volatility in the raw material prices coupled with the threat from substitute products may hinder the market growth over the next seven years.

Some of the key companies operating in the industry include DowDuPont; BASF SE; The 3M Company; Merck KGaA; Exxon Mobil Corporation; LyondellBasell Industries Holdings B.V.; Braskem; Innospec Inc.; Formosa Plastics Corporation; Arkema Group; Huntsman International LLC; Westlake Chemical Corporation; Celanese Corporation; and Sipchem; among others.

Global Ethylene Vinyl Acetate (EVA) Market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Ethylene Vinyl Acetate (EVA) market – Market snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the global ethylene vinyl acetate (EVA) market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.5.1. Rising adoption of bio-based ethylene vinyl acetate (EVA)

3.5.2. Significant growth opportunities in developing economies

3.6. Market dynamics

3.6.1. Market driver analysis

   3.6.1.1. Growing demand from packaging industry

   3.6.1.2. Considerable growth in the solar power industry

3.6.2. Market restraint analysis

   3.6.2.1. Rising threat from substitutes

   3.6.2.2. Raw material price volatility

CHAPTER 4. Competitive Outlook

4.1. Competitive Analysis

4.2. PESTLE Analysis

4.3. Porter’s Five Forces Analysis

4.4. Company Market Share Analysis

4.4.1. Competitive Factors

CHAPTER 5. Global Ethylene Vinyl Acetate (EVA) Market Size and Forecast (2014 – 2024)

5.1. Global Ethylene Vinyl Acetate (EVA) Market, By Type (Kilo Tons) (USD Billion)

5.1.1. Vinyl Acetate Modified Polyethylene (Low VA density)

5.1.2. Thermoplastic Ethylene Vinyl Acetate (Medium VA density)

5.1.3. Ethylene Vinyl Acetate Rubber (High VA density)

5.2. Global Ethylene Vinyl Acetate (EVA) Market, By Application (Kilo Tons) (USD Billion)

5.2.1. Hot melt adhesives

5.2.2. Foam

5.2.3. Injection Molding

5.2.4. Films

5.2.5. Wires & Cables

5.2.6. Solar Cell Encapsulation

5.2.7. Extrusion Coating

5.2.8. Others

5.3. Global Ethylene Vinyl Acetate (EVA) Market, By End-Use (Kilo Tons) (USD Billion)

5.3.1. Packaging

5.3.2. Footwear & Foams

5.3.3. Paints, Coatings & Adhesives

5.3.4. Automotive

5.3.5. Electronics

5.3.6. Photovoltaic Panels

5.3.7. Pharmaceutical

5.3.8. Others

CHAPTER 6. Global Ethylene Vinyl Acetate (EVA) Market Size and Forecast, By Region (2014 – 2024)

6.1. North America Ethylene Vinyl Acetate (EVA) Market (Kilo Tons) (USD Billion)

6.1.1. North America Ethylene Vinyl Acetate (EVA) Market, By Type (Kilo Tons) (USD Billion)

6.1.2. North America Ethylene Vinyl Acetate (EVA) Market, By Application (Kilo Tons) (USD Billion)

6.1.3. North America Ethylene Vinyl Acetate (EVA) Market, By End-Use (Kilo Tons) (USD Billion)

6.1.4. North America Ethylene Vinyl Acetate (EVA) Market, By Country (Kilo Tons) (USD Billion)

   6.1.4.1. The U.S.

   6.1.4.2. Canada

   6.1.4.3. Mexico

6.2. Europe Ethylene Vinyl Acetate (EVA) Market (Kilo Tons) (USD Billion)

6.2.1. Europe Ethylene Vinyl Acetate (EVA) Market, By Type (Kilo Tons) (USD Billion)

6.2.2. Europe Ethylene Vinyl Acetate (EVA) Market, By Application (Kilo Tons) (USD Billion)

6.2.3. Europe Ethylene Vinyl Acetate (EVA) Market, By End-Use (Kilo Tons) (USD Billion)

6.2.4. Europe Ethylene Vinyl Acetate (EVA) Market, By Country (Kilo Tons) (USD Billion)

    6.2.4.1. Germany

    6.2.4.2. U.K

    6.2.4.3. France

    6.2.4.4. Spain

    6.2.4.5. Russia

    6.2.4.6. Italy

    6.2.4.7. Rest of Europe

6.3. Asia-Pacific Ethylene Vinyl Acetate (EVA) Market (Kilo Tons) (USD Billion)

6.3.1. Asia-Pacific Ethylene Vinyl Acetate (EVA) Market, By Type (Kilo Tons) (USD Billion)

6.3.2. Asia-Pacific Ethylene Vinyl Acetate (EVA) Market, By Application (Kilo Tons) (USD Billion)

6.3.3. Asia-Pacific Ethylene Vinyl Acetate (EVA) Market, By End-Use (Kilo Tons) (USD Billion)

6.3.4. Asia-Pacific Ethylene Vinyl Acetate (EVA) Market, By Country (Kilo Tons) (USD Billion)

   6.3.4.1. China

   6.3.4.2. Japan

   6.3.4.3. India

   6.3.4.4. South Korea

   6.3.4.5. Rest of Asia-Pacific

6.4. Central & South America (CSA) Ethylene Vinyl Acetate (EVA) Market (Kilo Tons) (USD Billion)

6.4.1. Central & South America (CSA) Ethylene Vinyl Acetate (EVA) Market, By Type (Kilo Tons) (USD Billion)

6.4.2. Central & South America (CSA) Ethylene Vinyl Acetate (EVA) Market, By Application (Kilo Tons) (USD Billion)

6.4.3. Central & South America (CSA) Ethylene Vinyl Acetate (EVA) Market, By End-Use (Kilo Tons) (USD Billion)

6.4.4. Central & South America (CSA) Ethylene Vinyl Acetate (EVA) Market, By Country (Kilo Tons) (USD Billion)

    6.4.4.1. Brazil

    6.4.4.2. Rest of Central & South America (CSA)

6.5. Middle East & Africa (MEA) Ethylene Vinyl Acetate (EVA) Market (Kilo Tons) (USD Billion)

6.5.1. Middle East & Africa (MEA) Ethylene Vinyl Acetate (EVA) Market, By Type (Kilo Tons) (USD Billion)

6.5.2. Middle East & Africa (MEA) Ethylene Vinyl Acetate (EVA) Market, By Application (Kilo Tons) (USD Billion)

6.5.3. Middle East & Africa (MEA) Ethylene Vinyl Acetate (EVA) Market, By End-Use (Kilo Tons) (USD Billion)

6.5.4. Middle East & Africa (MEA) Ethylene Vinyl Acetate (EVA) Market, By Country (Kilo Tons) (USD Billion)

   6.5.4.1. Saudi Arabia

   6.5.4.2. South Africa

   6.5.4.3. Rest of Middle East & Africa (MEA)

CHAPTER 7. Key Players and Strategic Developments

7.1. DowDuPont

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. BASF SE

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. The 3M Company

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Merck KGaA

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. Exxon Mobil Corporation

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. LyondellBasell Industries Holdings B.V.

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Braskem

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Innospec Inc.

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Formosa Plastics Corporation

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Arkema Group

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Huntsman International LLC

7.11.1. Business Overview

7.11.2. Product and Service Offering

7.11.3. Financial Overview

7.11.4. Strategic Developments

7.12. Westlake Chemical Corporation

7.12.1. Business Overview

7.12.2. Product and Service Offering

7.12.3. Financial Overview

7.12.4. Strategic Developments

7.13. Celanese Corporation

7.13.1. Business Overview

7.13.2. Product and Service Offering

7.13.3. Financial Overview

7.13.4. Strategic Developments

7.14. Sipchem

7.14.1. Business Overview

7.14.2. Product and Service Offering

7.14.3. Financial Overview

7.14.4. Strategic Developments

Global Ethylene Vinyl Acetate (EVA) Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024