Global Ethylene Vinyl Acetate Resins Market: Overview
Rising usage of ethylene vinyl acetate (EVA) especially in the packaging industry is a key trend observed, which is benefiting growth of the global ethylene vinyl acetate resins market. Boom in the transportation and packaging industry has surged the demand for the Ethylene vinyl acetate resins and is estimated to keep this constant in coming years. Ethylene vinyl acetate resins have robust application in the food and medical packaging applications owing to its effective and flexible packaging properties. This is a key factor estimated to benefit market growth in coming years.
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Global Ethylene Vinyl Acetate Resins Market: Companies Mentioned
Some of the players operating in the global ethylene vinyl acetate resins market are Arkema S.A., Celanese Corporation, Braskem S.A.,DOW Inc., Formosa Plastics Corporation, Hanwha Chemical Co, Ltd., Exxon Mobil Corporation, Lyondell Basell Industries N.V., Lotte Chemical Corporation, and Sinopec Corporation. The key players are increasingly expanding their reach to their customers and also trying to expand their production capacity for maintaining the demand-supply chain.
For instance, here are few notable developments, which are influencing on market’s growth:
August 2018, Braskem one of the key player in the market launched a new renewable bio-based ethylene vinyl acetate resin made from sugarcane, which is suitable to be used across the industries such as footwear, automotive, and transportation. This new product is manufactured collaborating with Allbirds a San-Francisco based company. These kind of product launches are driving growth of the global ethylene vinyl acetate resins market.
In 2015, Hanwha Chemical has expanded its production and it will allow the company to target the two-track strategy and will help to maintain their position in the global ethylene vinyl acetate resins market.
Global Ethylene Vinyl Acetate Resins Market: Drivers and Restraints
Despite the fact that film and infusion embellishment are the significant ethylene vinyl acetate applications and serve a variety of ventures because of their different properties and execution points of interest, intensifying and wire and link is a developing market and the interest for the equivalent is developing at great pace. The Asia-Pacific district is the greatest market of ethylene vinyl acetate, devouring almost 50% of its absolute worldwide interest. There is a ton of degree in the Asia-Pacific market because of solid and expanding assembling and modern base, which is the significant end buyer of medium thickness ethylene vinyl acetate. Furthermore, the requirement for superior material for film and infusion trim is pushing the interest for ethylene vinyl acetate at an impressive pace in the locale. With the rising mechanical improvements and advancements in the district, the development popular for ethylene vinyl acetate may further enlarge at a higher pace. Presently, the infiltration of ethylene vinyl acetate is expanding in exacerbating and wire and link, infusion shaping, and other expulsion fragments the world over.
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Global Ethylene Vinyl Acetate Resins Market: Geographical Analysis
Based on the region, the ethylene vinyl acetate resins market is segmented in to five parts such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, North America is anticipated to hold the largest market share for the global ethylene vinyl acetate resins market during the forecast period. The Asia-Pacific represented the real offer in 2018 in the ethylene-vinyl acetate resins market, attributable to an ascent in utilization of these resins for electrical and gadgets and bundling divisions. Furthermore, the market has seen various coordinated efforts, associations, and joint endeavors. Additionally, China, Japan, and South Korea are the pioneers in the gadgets division, subsequently driving the interest for EVA resins.
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