Ethylene Vinyl Acetate Market worth 9.71 Billion USD by 2020

The global Ethylene Vinyl Acetate (EVA) Market is projected to reach USD 9.71 Billion at a CAGR of 3.5% by 2020. This growth is fuelled by the high potential from the packaging and solar power industry, increasing global demand for EVA in footwear & foams sector, and the growth in the Asia-Pacific region.

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Medium Density Ethylene Vinyl Acetate (MEVA): The largest type of ethylene vinyl acetate

Medium density EVA is of great importance due to its extraordinary characteristics such as reduced tensile strength, hardness, oil & grease resistance, heat seal temperature, and dielectric properties, and greater permeability to gases & water vapour. MEVA contains 17% ­ 25% of vinyl acetate, forming thermoplastic EVA copolymer similar to semi crystalline polyethylene and are used in various industries, majorly in packaging, footwear & foams, and agriculture.

In addition, they are used as hot-melt adhesives, bitumen blends in productions of sport shoes, sandals, and various other applications. The increasing usage of MEVA in injection molding and other non-extrusion application is expected to drive the MEVA market in coming future.

Asia-Pacific: The largest market for ethylene vinyl acetate

Asia-Pacific is the global forerunner of the EVA market, in terms of value and volume, and is expected to continue till 2020. The countries in this region such as China, India, Japan, South Korea, Taiwan, and Thailand are witnessing a significant increase in the use of EVA in film, injection molding, compounding and wire & cable, and other applications.

This growth is mainly due to the increasing demand for EVA in automotive, solar energy, packaging, footwear & foam, and construction sectors in Asia-Pacific. Further, rapid development in Asia-Pacific is vigorously pushing the demand for EVA in packaging films, agriculture film, hot-melt adhesives, photovoltaic encapsulation, and other applications. China and India are the fastest-growing markets, and are estimated to follow a similar trend by 2020. The region is further expected to witness a significant growth in the future, mainly due to its growing domestic demand and export-based industry set-up.

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The EVA market has a few numbers of global players competing significantly for the market share, who are actively investing in various strategies. Major players such as The Dow Chemical Company (U.S.), ExxonMobil Corporation (U.S.), LyondellBasell Industries NV (Netherlands), E.I. du Pont de Nemours & Co. (U.S.), Celanese Corporation (U.S.), and Arkema S.A. (France) among others have adopted various organic and inorganic developmental strategies.

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