Ethylene Vinyl Acetate (High EVA, Low EVA, and Very Low EVA) Market
Ethylene Vinyl Acetate (High EVA, Low EVA, and Very Low EVA) Market for Films, Foams, Hot Melt Adhesives, Photovoltaic Cells, Wires & Cables, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Press Release :
Global Ethylene Vinyl Acetate: Snapshot
The ever-increasing demand for packaging films is giving a significant impetus to the ethylene vinyl acetate market. Ethylene vinyl acetate (EVA) films have a number of applications, of which their use in flexible packaging is a prominent one. The organoleptic characteristics of ethylene vinyl acetate and excellent elasticity, flexibility, adhesive properties, clarity, and transparency of EVA copolymers make them highly suitable for several applications such as films, hot melt adhesives, wires and cables, photovoltaic cells, and others.
The monomers of ethylene and vinyl acetate are copolymerized utilizing autoclave process and high pressure tubular to produce EVA. EVA is available in different grades depending on vinyl acetate content that ranges from 1% to 40%. The broad categories of EVA depending on vinyl acetate content are very low EVA (1% to 10%), high EVA (20% to 40%), and low EVA (10% to 20%). Some of the applications of high vinyl acetate content EVA are photovoltaic cells, hot melt adhesives, and wires and cables. EVA with low vinyl acetate content is used in films and foams.
In 2014, low EVA held the leading share of the global EVA market. However, high EVA is expected to be the fastest-growing product segment in the coming years as it displays exceptional performance due to higher vinyl acetate content.
However, factors such volatile prices of raw materials and rising competition from substitutes such as LLDPE are posing a challenge to this market’s growth. Nevertheless, increasing efforts for tapping solar energy is expected to present lucrative opportunities for the EVA market for the manufacture and installation of photovoltaic cells.
Photovoltaic Cells to Display High Demand for Ethylene Vinyl Acetate
Rising population combined with increasing per capita income has spurred demand for EVA films for packaging applications over the past few years. Consequently, films stood as the largest application of EVA in 2014. EVA films are used for packaging of food and beverages, greenhouse films, agricultural films, and packaging of pharmaceuticals.
Photovoltaic cells are expected to be fastest-growing application segment of the EVA market in the near future. With increasing efforts for tapping renewable solar energy, the demand for EVA for encapsulation of photovoltaic cells is on the rise. An increasing number of projects for tapping solar energy and newly installed photovoltaic units in countries such as the U.S., Japan, China, and Italy are expected to present gainful opportunities to the global EVA market in the forthcoming years.
Asia Pacific to Continue Lead in Global Ethylene Vinyl Acetate Market
In 2014, Asia Pacific stood as the leading regional market accounting for more than 35% of the global market in terms of volume. The region is anticipated to display the fastest growth in the coming years due to the increasing demand from key application segments. Growing population combined with increasing per capita income in developing countries is fuelling the demand for flexible packaging from food and beverages and personal care industries.
On the other hand, ASEAN countries and China are expected to be major producers of photovoltaic cells and footwear in the near future. This is expected to translate into substantial demand for ethylene vinyl acetate for foams, films, and photovoltaic cell applications.
North America held the second-largest share in the global EVA market in 2014. The Middle East and Africa region are expected to emerge as a significant market for ethylene vinyl acetate displaying notable growth in the coming years,
Some of the leading players in the global ethylene vinyl acetate market are Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., Braskem SA, Hanwha Group, and E.l.du Pont de Nemours and Company.
Ethylene vinyl acetate (EVA) is a co-polymer of ethylene and vinyl acetate (VA) monomer, wherein the weight percentage of VA varies from 1% to 40%. Ethylene vinyl acetate offers excellent functional properties such as flexibility, toughness, elasticity, impact strength, and adhesive strength. It provides resistance to puncture, environmental stress cracks, and UV radiation. Ethylene vinyl acetate is employed in various applications such as films, foams, hot melt adhesives, photovoltaic cells, and wires & cables. Asia Pacific has been dominating the ethylene vinyl acetate market in terms of demand, followed by North America and Europe, since the past few years. Asia Pacific is expected to maintain its leading position in the market during the forecast period.
The report estimates and forecasts the ethylene vinyl acetate market on the global, regional, and country level. The study provides forecast from 2015 to 2023 based on volume (kilo tons) and revenue (US$ Mn). The report comprises an exhaustive value chain analysis, which provides a comprehensive view of the market. Value chain analysis also offers detailed information about value addition at each stage. The study includes drivers and restraints for the EVA market along with their impact on demand during the forecast period. The report analyzes opportunities in the EVA market on the global and regional level. Drivers, restraints, and opportunities mentioned in the report are justified through quantitative and qualitative data. These have been verified through primary and secondary resources.
The report includes Porter’s Five Forces Model to determine the degree of competition in the EVA market. The report comprises a qualitative write-up on market attractiveness analysis, wherein applications and countries have been analyzed based on attractiveness. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market. The report includes price trend analysis for raw materials (ethylene and vinyl acetate monomer) and ethylene vinyl acetate from 2014 to 2023.
The study provides a comprehensive view of the EVA market by dividing it into product segments such as high EVA, low EVA, and very low EVA. In terms of application, the EVA market has been segmented into films, foams, hot melt adhesives, photovoltaic cells, wires & cables, and others. Product segments and application segments have been analyzed based on historic, present, and future trends, and the market has been estimated from 2015 to 2023 in terms of volume (kilo tons) and revenue (US$ Mn).
Regional segmentation includes the current and forecast demand for Ethylene vinyl acetate in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for application segments. Key countries such as the U.S., Germany, Italy, the U.K., France, Spain, China, Japan, Brazil, and South Africa have been included in the study. Market segmentation includes demand for individual applications in all the regions and countries.
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Exxon Mobil Corporation, Hanwha Group, LyondellBasell Industries Holdings B.V., E. I. du Pont de Nemours and Company, and Braskem SA. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview.
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
In-depth interviews and discussions with a wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
This report segments the global EVA market as follows:
Ethylene Vinyl acetate (EVA) Market – Product Segment Analysis
- High EVA
- Low EVA
- Very Low EVA
Ethylene Vinyl Acetate (EVA) Market – Application Analysis
- Hot Melt Adhesives
- Photovoltaic Cells
- Wires & Cables
- Others (Including hose & tubing, etc.)
Ethylene Vinyl Acetate (EVA) Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa