Global Ethylene Vinyl Acetate Market Analysis: Plant Capacity, Location, Production, Operating Efficiency, Demand & Supply, End Use, Sales Channel, Regional Demand, Foreign Trade, Company Share, Manufacturing Process, Industry Market Size, 2015-2035

The Global Ethylene Vinyl Acetate Market Has Witnessed Remarkable Growth in the Past and is Estimated to Grow CAGR of 4.23% During the Forecast Period.

H1 2023: During H1 2023, key producers of Ethylene Vinyl Acetate (EVA) were Formosa Plastics Corporation, Sinopec, and Hanwha Total Petrochemical. However, Sinopec held the largest production capacity of EVA globally in H1 2023. In H1 2023, Celanese Corporation, a global producer of chemicals, announced about successful expansion of its EVA plant at its site at Edmonton, Alberta, Canada. The expansion included increasing the EVA production capacity by 35% in Q1 2023. The goal behind the expansion was to increase the production of EVA at the company’s Alberta site to meet the significantly growing demand for EVA for applications in the numerous industries such as packaging and photovoltaic applications. In H1 2023, vinyl acetate monomer (VAM) feedstock prices declined in US due to low acetic acid feedstock costs and stable energy prices across US. Due to a moderate consumption rate in the US market, the production rate remained constant across US. Import from the Asia Pacific region increased and the freight prices fell across the U.S. The winter season led to lethargic consumption of footwear and adhesive by the construction sector with the decline in the construction activities in U.S. In addition, the shipping activity of APAC dwindled due to weak EVA demand from downstream in industries as global inflation and led to the plummeting of the cargo prices. Reduced product procurement led to low demand for EVA, high inventory level, and excess of raw material (VAM) in the US and thus, the prices continue to fall till June 2023.

The global Ethylene Vinyl Acetate (EVA) market expanded to reach approximately 3000 thousand tonnes in 2022 and is expected to grow at a CAGR of 5.73% during the forecast period until 2035.

Ethylene Vinyl Acetate (EVA) is a polymeric resin which is a copolymer of vinyl acetate and ethylene. This resin displays wonderful properties like good flexibility, ability to sustain even at low temperatures such as -70degree Celsius, high durability and resistance to chemicals. These properties are responsible for its applications in various industries like the manufacturing footwear, automobile components, hose, toys, athletic goods, toothbrushes, combs, and flexible packaging films.

The primary driver of Ethylene Vinyl Acetate (EVA) global market is by the Footwear sector, which is anticipated to rise in response to rising population across the globe. It is mainly due to the high resistance, high friction coefficient, crack resistance, thermal insulation, strong shock resistance, chemical resistance, vibration penetration, and low rates of water absorption, Ethylene Vinyl Acetate (EVA) is a perfect material for the footwear industry. In 2022, approximately 55% of global Ethylene Vinyl Acetate (EVA) was utilized by Footwear industry. Furthermore, Ethylene-vinyl acetate is also used in solar panels as an adhesive to enclose photovoltaic (PV) modules in order to offer structural supports and electrical isolation, which further drives the EVA demand. The global market of Ethylene Vinyl Acetate (EVA) is likely to experience a surge and reach approximately 6500 tonnes by 2035.

Based on demand across the globe, the Asia Pacific reported to be the biggest consumer of Ethylene Vinyl Acetate (EVA) market. In 2022, Asia Pacific consumed 52% of the EVA across the globe. The packaging industry's increasing demand is one of the main drivers of the Ethylene Vinyl Acetate (EVA) market's expansion in Asia Pacific region. Because of the rising demand for consumer goods and electronics products like footwear, laptops, mobile phones and accessories, the packaging end-use sector is also predicted to expand significantly. The industrial packaging is anticipated to fuel demand for EVA in the forecast period.

Based on the end-user industry, the global Ethylene Vinyl Acetate (EVA) market is segmented into different industrial sectors that include Footwear, Adhesives, Packaging, Photovoltaic Cell, and others. The Footwear industry is the dominating as a consumer industry for Ethylene Vinyl Acetate (EVA) market. The Adhesives industry is also one of the leading consumers of EVA. The consumption of Ethylene Vinyl Acetate (EVA) in the Photovoltaics industry in which EVA is utilized as an encapsulant as well as adhesive in solar panels, in anticipated to further propel the demand of EVA on a global level.

Major players in the production of Global Ethylene Vinyl Acetate (EVA) are ExxonMobil Corporation, Sinopec, Hanwha Total Petrochemical, Formosa Plastics Corporation, BASF-YPC, The Dow Chemical Company, Celanese, Shaanxi Yanchang Zhongmei Yulin Energy Chemical Co., Ltd, Asia Polymer Corporation, PJSC Kazanorgsintez, Sinopec-DuPont, and others.

Years for this report:

• Historical Period: 2015- 2022
• Base Year: 2022
• Estimated Year: 2022
• Forecast Period: 2023-2035

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Objective of the Study:

• To assess the demand-supply scenario of Ethylene Vinyl Acetate (EVA) which covers production, demand and supply of Ethylene Vinyl Acetate (EVA) market in the globe.
• To analyse and forecast the market size of Ethylene Vinyl Acetate (EVA)
• To classify and forecast Global Ethylene Vinyl Acetate (EVA) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Ethylene Vinyl Acetate (EVA) market in the globe.

To extract data for Global Ethylene Vinyl Acetate (EVA) market, primary research surveys were conducted with Ethylene Vinyl Acetate (EVA) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, the publisher was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, the report analyzes various segments and projected a positive outlook for Global Ethylene Vinyl Acetate (EVA) market over the coming years.

The publisher calculated Ethylene Vinyl Acetate (EVA) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the consumption of Ethylene Vinyl Acetate (EVA) by the end-user industries. The publisher sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by the publisher.

Key Target Audience:

• Ethylene Vinyl Acetate (EVA) manufacturers and other stakeholders
• Organizations, forums and alliances related to Ethylene Vinyl Acetate (EVA) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ethylene Vinyl Acetate (EVA) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Ethylene Vinyl Acetate (EVA) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Attribute

Details

• Market size Volume in 2022 - 3000 thousand tonnes
• Market size Volume by 2035 - 6500 thousand tonnes
• Growth Rate - CAGR of 5.73% from 2023 to 2035
• Base year for estimation - 2023
• Historic Data - 2015 - 2022
• Forecast period - 2024 - 2035
• Quantitative units - Demand in thousand tonnes and 5.73% CAGR from 2023 to 2035

Report coverage

Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.

Segments covered

• By End-Use: (Footwear, Adhesives, Packaging, Photovoltaic Cell, and others)
• By Sales Channel: (Direct Sale and Indirect Sale)

Regional scope

North America, Europe, Asia Pacific, Middle East and Africa, and South America.

Available Customisations

With the given market data, the publisher offers customizations according to a company’s specific needs.