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Ethylene Vinyl Acetate (EVA) Market - Forecasts from 2025 to 2030

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    Report

  • 147 Pages
  • December 2024
  • Region: Global
  • Knowledge Sourcing Intelligence LLP
  • ID: 5990424
The global ethylene vinyl acetate market is estimated to reach US$7.93 billion by 2030 from US$6.65 billion in 2025, growing at a CAGR of 3.56%.

Ethylene vinyl acetate (EVA) is a soft and strong copolymer of ethylene and vinyl acetate. This versatile material is extensively applied in several industries due to its elastic nature and properties that vary according to the quantity of vinyl acetate content. EVA is commonplace in the production of foam-based products, such as packaging foams, sports padding, and shoe insoles.

Its lightweight design, effective shock resistance, and screening from UV rays make it an ideal complement for these particular applications. EVA is further produced in films, wires, cables, adhesives, and molded items apart from foams. This is because has the ability to withstand high temperatures and remain flexible at low temperatures, making it popular in the consumer, medical, and industrial fields. EVA is very convenient in terms of cost, regard for the environment, and, importantly, modern-day production methods.

Further, the global market for ethylene vinyl acetate is slightly consolidated, with major players expanding, launching, and collaborating, which is also increasing the market growth. For instance, in June 2023, PetroChina Guangxi Petrochemical Company started licensing LyondellBasell's polyethylene technology at its plant in Qinzhou City, Guangxi Province, China. However, the key benefit of employing Lupotech process technology is the capability to create a different type of polymer - EVA copolymers low-density polyethylene (LDPE).

Global ethylene vinyl acetate market growth drivers

Rising demand in the renewable energy sector

The market for ethylene vinyl acetate is witnessing noteworthy prospects due to the growing need in the renewable energy industry, particularly in solar technology. EVA is essential when it comes to encasing photovoltaic modules inside solar panels. Technological materials that can extend solar panel life and efficiency are becoming highly necessary as the world becomes more focused on sustainable energy solutions. Because of its unique qualities - such as its flexibility, lightweight, and resistance to environmental changes - EVA is the best material to encase photovoltaic modules.

Further, the demand for EVA in the manufacturing and improvement of solar panels rising due to the expansion of renewable energy initiatives and ongoing advancements in solar technologies. This offers the global market for EVA a significant chance to advance and improve renewable energy solutions and support global efforts toward a cleaner, more sustainable future. For instance, the yearly growth rate of renewable capacity additions worldwide reached a record high of nearly 510 gigawatts (GW) in 2023, up nearly 50% from the previous two decades. Additionally, according to US Energy Information Administration estimates, the country's solar power output will increase by 75% between 2023 and 2025, from 163 billion kWh to 286 billion kWh, increasing market growth.

Global ethylene vinyl acetate market geographical outlook

The Asia-Pacific region is expected to witness significant growth in the global ethylene vinyl acetate market.

A key driver for the increase in the demand for ethylene vinyl acetate is its flexible and low-temperature resistance for its efficient use in the sealant solution in the packaging industry. Ethylene vinyl acetate plastic consists of randomly distributed vinyl acetate chains interspersed with ethylene chains. This acetate, with less than 5% vinyl acetate, is utilized in deep freeze applications, while EVA containing 6%- 10% vinyl acetate is used in milk pouches and bag-in-box applications.

Ethylene-vinyl acetate is a lightweight copolymer resin that is lightweight with excellent foamability. It is used in footwear, sports, and leisure applications. Due to its flexibility and low-temperature resistance, it is also used as a sealant solution in the packaging industry.

A specifically outstanding aspect of EVA is that it is very flexible and provides a soft touch. This characteristic allows it to be bent and mangled without changing its shape, making it suitable for cushioning and padding. In certain areas where visibility and aesthetics are of concern, EVA's high transparency could benefit. Another advantage of EVA is that it is also light; therefore, it finds application in protective clothing and footwear.

In this regard, as per the India Trade Promotion Organization (ITPO), India is known to be the second largest producer of footwear after China, accounting for the total footwear production of 13% of 16 billion pairs. India produces 2.06 billion pairs of different categories of footwear (leather footwear accounting for 909 million pairs, leather shoe uppers further accounting for 100 million pairs, and non-leather footwear accounting for 1.05 billion pairs). India also exports about 115 million pairs. Thus, nearly 95% of its production goes to meet its domestic demand.

Reasons for buying this report:

  • Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub-segments.
  • Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
  • Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence

Report Coverage:

  • Historical data & forecasts from 2022 to 2030
  • Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
  • Competitive Positioning, Strategies, and Market Share Analysis
  • Revenue Growth and Forecast Assessment of segments and regions including countries
  • Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The Global Ethylene Vinyl Acetate Market is analyzed into the following segments:

By Grade

  • Low Density
  • Medium Density
  • High Density

By Application

  • Films
  • Adhesives
  • Foams
  • Solar Cell Encapsulation
  • Others

By End-User Industry

  • Footwear
  • Construction
  • Electrical and Electronics
  • Packaging
  • Automotive
  • Pharmaceuticals
  • Others

By Geography

  • North America
  • South America
  • Europe
  • Middle East and Africa
  • Asia-Pacific

Table of Contents

1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key Benefits for Stakeholders
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. GLOBAL ETHYLENE VINYL ACETATE MARKET BY GRADE
5.1. Introduction
5.2. Low Density
5.3. Medium Density
5.4. High Density
6. GLOBAL ETHYLENE VINYL ACETATE MARKET BY APPLICATION
6.1. Introduction
6.2. Films
6.3. Adhesives
6.4. Foams
6.5. Solar Cell Encapsulation
6.6. Others
7. GLOBAL ETHYLENE VINYL ACETATE MARKET BY END-USER INDUSTRY
7.1. Introduction
7.2. Footwear
7.3. Construction
7.4. Electrical and Electronics
7.5. Packaging
7.6. Automotive
7.7. Pharmaceuticals
7.8. Others
8. GLOBAL ETHYLENE VINYL ACETATE MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. By Grade
8.2.2. By Application
8.2.3. By End-User Industry
8.2.4. By Country
8.2.4.1. United States
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. By Grade
8.3.2. By Application
8.3.3. By End-User Industry
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Rest of South America
8.4. Europe
8.4.1. By Grade
8.4.2. By Application
8.4.3. By End-User Industry
8.4.4. By Country
8.4.4.1. United Kingdom
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Italy
8.4.4.5. Spain
8.4.4.6. Rest of Europe
8.5. Middle East and Africa
8.5.1.1. By Grade
8.5.1.2. By Application
8.5.1.3. By End-User Industry
8.5.1.4. By Country
8.5.1.4.1. Saudi Arabia
8.5.1.4.2. United Arab Emirates
8.5.1.4.3. Rest of the Middle East and Africa
8.6. Asia Pacific
8.6.1. By Grade
8.6.2. By Application
8.6.3. By End-User Industry
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. South Korea
8.6.4.5. Taiwan
8.6.4.6. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. BASF-YPC Company Limited
10.2. Clariant
10.3. China Petrochemical Corporation
10.4. Celanese Corporation
10.5. Dow
10.6. ExxonMobil Corporation
10.7. Formosa Plastics Corporation
10.8. Hanwha Solutions
10.9. Sipchem Company
10.10. Sumitomo Chemical Co., Ltd.
10.11. Zhejiang Petroleum & Chemical Co., Ltd.
10.12. LyondellBasell Industries Holdings BV
10.13. LG Chem
10.14. Sinochem Holdings Corporation Ltd.
10.15. Saudi Arabian Oil Co.
10.16. Lotte Chemical Corporation
10.17. Asia Polymer Corporation
10.18. Levima Group Co., Ltd.

Companies Mentioned

  • BASF-YPC Company Limited
  • Clariant
  • China Petrochemical Corporation
  • Celanese Corporation
  • Dow
  • ExxonMobil Corporation
  • Formosa Plastics Corporation
  • Hanwha Solutions
  • Sipchem Company
  • Sumitomo Chemical Co., Ltd.
  • Zhejiang Petroleum & Chemical Co., Ltd.
  • LyondellBasell Industries Holdings BV
  • LG Chem
  • Sinochem Holdings Corporation Ltd.
  • Saudi Arabian Oil Co.
  • Lotte Chemical Corporation
  • Asia Polymer Corporation
  • Levima Group Co., Ltd.

Methodology

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