Market Overview
Ethylene vinyl acetate (EVA) is a thermoplastic resin produced by the copolymerization of ethylene and vinyl acetate monomer. EVA possesses superior properties such as transparency, flexibility, excellent optical properties, chemical resistance, high friction coefficient, resilience, and crack resistance. It finds use in numerous applications which includes foaming, film extrusion, injection molding, solar cell encapsulation, hot melt adhesives, and coatings among others. Film extrusion and solar cell encapsulation is the prime application of EVA. It can contain from 2% to 50% vinyl acetate, however, EVA containing 10-25% vinyl acetate are being widely used in the major end-use industries such as packaging, photovoltaic panels, and automotive.
The global demand for EVA is driven by increasing use of EVA in packaging industry in numerous applications such as food, medical, and cosmetics among others. Expanding packaging industry with rise in demand for packaged food and beverages from the working population due to improved convenience and longer shelf life is driving the demand for plastic films and thus, EVA.
Expanding renewable energy industry on account of increased investment in solar energy generation is fueling the demand for photovoltaic panels and thus, EVA. Increasing environmental regulations against carbon emissions has resulted in shift to renewable sources over oil and gas for power generation. Increased spending on solar power plants in the developing nations especially in India and China is expected to offer lucrative opportunities to the players operating in the global EVA market.
The key players operating in global EVA market are emphasizing on capacity expansion. For instance, in September 2016, Celanese Corporation, started production at its new EVA production unit in manufacturing facility located at Jurong Island, Singapore. This growth step has been taken to meet the growing demand for EVA in numerous industries such as automotive, packaging, and building & construction in the South-east Asian countries.
However, fluctuations in availability & prices of raw materials, and technical challenges associated with the EVA may restrict the market growth.
Regional Analysis
The market in Asia-Pacific accounted for the largest share of the EVA market in 2017 and is expected to register a healthy CAGR during the review period. The expanding packaging industry on account of surging demand for packaged food products by the working group coupled with rising per capita disposable income is driving the market growth. Additionally, rising residential construction activities in developing nations such as India, China, and Thailand are driving market growth
The European market is another prominent market for EVA on account of the expanding packaging industry with the rising demand for packaged food and beverages. Growing adhesives and sealants industry on account of increasing demand in numerous end-use applications such as automotive, construction, and paints and coatings among others.
North American market is expected to grow at a healthy CAGR due to the rising demand from major end-use industries such as construction, packaging, renewable energy, and automotive. Growing preference for renewable sources due to increasing environmental regulations against carbon emissions is driving the renewable energy industry and thus, growth of the EVA market.
The Latin American market is expected to witness considerable growth due to the growing packaging and automotive industry. The market in the Middle East & Africa is likely to exhibit considerable growth during the review period on account of growing industrialization in the region.
Segmentation
The global ethylene vinyl acetate market has been segmented by type, application, end-use industry, and region.
Based on type, the market has been segmented into low density EVA, medium density EVA, and high-density EVA.
Based on application, the market has been segmented into foaming, film extrusion, solar cell encapsulation, injection molding, hot melt adhesives, coatings, compounding and wires & cables, and others.
Based on end-use industry, the market has been segregated into packaging, renewable energy, adhesives & sealants, footwear, construction, electrical & electronics, automotive, pharmaceuticals,
agriculture, and others.
The EVA market has been studied with respect to five regions—North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Key Players
Some of the key players in the global EVA market are Celanese Corporation (US), Exxon Mobil Corporation (US), DowDuPont (US), LyondellBasell Industries Holdings B.V. (The Netherlands), Innospec (US), Arkema SA (France), BASF SE (Germany), Clariant AG (Switzerland), Infineum International Limited (UK), United Plastic Components Inc. (Canada), Porex Corporation (US), and USI Corporation (Taiwan).
Intended Audience
• Ethylene vinyl acetate manufacturers
• Traders and distributors of ethylene vinyl acetate
• Research and development institutes
• Potential investors
• Raw material suppliers
• Nationalized laboratories

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