EVA Foam Market: Overview
The versatility of EVA foams has already been appreciated by diverse end-use industries. The ethylene-vinyl acetate copolymer has been utilized for its salient properties, in such a large extent that EVA foams are emerging as attractive alternatives to several composites. Different industries harness different combination of properties. For instance, medical industries benefit from the properties such as chemically inertness and biocompatibility. The softness and remarkable flexibility characteristic of the molecular makeup in the EVA foams have led to become a potential alternative for rubber materials. Some of the other industries where EVA foams are seeing myriad uses are automotive, marine, building, electronics, packaging, sports, leisure, recreation, and healthcare. One of the promising application avenues is its use in midsoles of running and athletic shoes. The functionality and recyclability of this has attracted prominent brands such as Nike.
The study presents a detailed assessment of the macro- and micro-environments governing the competitive dynamics. The research offers evidence-supported insights into the investment trends on research and developments and the untapped avenues in various end-use industry segments.
EVA Foam Market: Key Trends
The expanding array of applications is a key driver for opportunity in the EVA foams market. One of the emerging application area is in packaging. The attractive machinability of EVA foams is a key trend fueling the prospective use of EVA foams in the end-use industry. Advances in synthesis technology is a key accelerator of innovations in the EVA foams market. Over the past few years, new applications have emerged on the back of this.
Shipping and marine industries around the world seek to utilize moisture resistance and remarkable buoyancy, spurring their prospects. The cushioning property of EVA foams is being utilized in automotive and construction industries. Strides in foaming technology over the decades have spurred the growth momentum in the EVA foams market. The medical industry is emerging as one of the potential revenue generators for players in the market. Rise in use of EVA foams is orthopedics is a key trend boosting the demand. A case in point is the promising potential of EVA foams in orthopedics.
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EVA Foam Market: Competitive Dynamics and Key Developments
Industry players including raw materials suppliers are leaning on fabricating environmentally friendly materials using EVA foams and other composites. A popular example is Nike, who has using EVA foams in midsole foams. Footwear manufacturing industries are finding vast potential of EVA foams in footwear midsole manufacturing in countries such as Vietnam, China, and India. Suppliers are keen on offering the foam in variety of shapes.
However, a glaring challenge exists that impede the production appetitive of end users in the EVA foam market. During the manufacturing of EVA products, a significant amount of non-recyclable EVA waste is produced. This has also associated with health hazards, concerning manufacturers, producers, and end users as well. While one possible direction to overcome this is using the waste in some industry production process; a case in point is a growing body of research on using EVA waste in Portland cement.
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EVA Foam Market: Regional Assessment
On the regional front, Europe has generated vast revenue shares year-over-year. A large chunk of revenues has come from the utilization of EVA foams in the automotive industry. Some of the emerging markets are Asia Pacific and the Middle East and Africa. Strides made in construction industry has spurred the revenue prospects of manufacturers and industry players in the regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.