Agriculture Sector Becomes Key Focus Point for Revenue Generation amidst Coronavirus Pandemic

Packaging, footwear, and adhesives sectors have been the key focus point for companies in the global & Asia Pacific ethylene vinyl acetate market during the coronavirus (COVID-19) pandemic. However, most ethylene vinyl acetate (EVA) uses fall under the category of non-essential products and is likely to cause an obstruction in market growth. Hence, manufacturers are broadening their revenue streams in agriculture and pharmaceutical industries to bolster market growth.

The uncertainty around the coronavirus disease has severely affected international trade practices. Volatile tax regulations on imports and exports of products are emerging as challenges for manufacturers in the global & Asia Pacific ethylene vinyl acetate market. Companies are increasing efforts to maintain business continuity plans with critical clients. In order to achieve this, manufacturers are strengthening their distribution networks to avoid supply shocks in mission-critical projects.

Request a sample to get extensive insights into the Global and Asia Pacific Ethylene Vinyl Acetate Market

EVA Copolymers Gain Prominence in Production of Custom Vacuum Mouthguards

Ethylene vinyl acetate copolymers are being used to manufacture several routine products such as toys, tubings, extruded sheets, and the likes. Unconventional applications involve the production of vacuum thermoformed mouthguards and surgical supplies. The EVA copolymer material helps in proper tooth and gingiva adaption for the vacuum thermoformed mouthguard. However, there is a need for vacuum machines that are meant to produce multi-layer mouthguards. As such, dental literatures are increasing awareness about vacuum machines for multi-layer mouthguards. This will help to grow the business of EVA copolymers.

Currently, increasing number of customers is preferring multi-layer mouthguards over single-layer mouthguards. Hence, manufacturers in the global & Asia Pacific ethylene vinyl acetate market are capitalizing on this trend to expand their revenue streams. They are collaborating with experts and dentists to design custom vacuum mouthguards that offer better fit to individuals.

To understand how our report can bring difference to your business strategy, Ask for a brochure

Burgeoning Growth of Solar Industry in India and China Boosts Market Growth

EVA is emerging as a rising star for solar encapsulation. This trend is anticipated to grow in the global & Asia Pacific ethylene vinyl acetate market, since increasing number of people in densely populated countries such as India and China is opting for solar energy equipment. Solar cell manufacturers in India are fueling the demand for EVA sheets. Even EVA copolymer films are in high demand, as these materials act as essential sealants for photovoltaic solar modules. However, EVA has limitations in holding resistance toward high temperatures. Hence, manufacturers in the global & Asia Pacific ethylene vinyl acetate market are increasing awareness about covering EVA films with a protective front glass to prevent any damages in solar panels.

EVA sheet are found to increase the durability and performance levels of solar panels. A protective glass on top of the EVA sheet makes the solar module highly durable.

High-performance EVA Rubbers Preferred in Rocker Head Covers and Cables

The global & Asia Pacific ethylene vinyl acetate market is projected to cross the value mark of US$ 7.3 Bn by 2030. Manufacturers are increasing efforts to expand their business in EVA rubbers. For instance, Arlanxeo— a producer of high-performance rubbers, is increasing its product offerings in EVA rubbers to scale its business of cables, seals, and hoses. The demand for synthetic rubbers is growing, owing to the production of plasticizing polymers and adhesive films.

EVA rubbers offer long-term heat stability in rocker head covers. Hence, manufacturers are capitalizing on value-grab opportunities in the ever-evolving automotive sector. Residential and commercial applications of EVA rubbers in buildings and ships are benefitting companies in the global & Asia Pacific ethylene vinyl acetate market.

Stuck in a neck-to-neck competition with other brands? Request a custom report on Global and Asia Pacific Ethylene Vinyl Acetate Market

Analysts’ Viewpoint

Essential industries such as healthcare and agriculture are increasing revenue opportunities for manufacturers during the COVID-19 pandemic due to the growing demand for surgical supplies and industrial hoses. The global & Asia Pacific ethylene vinyl acetate market is predicted to advance at favorable CAGR of ~6% during the forecast period. However, EVA sheets are prone to damage in solar panels due to high temperatures. Hence, companies in the global & Asia Pacific ethylene vinyl acetate market should increase awareness about fixing a protective front glass on the EVA sheet to prevent any damage. Manufacturers are conducting quality checks for solar panels and are offering technical services to end customers.

Global & Asia Pacific Ethylene Vinyl Acetate Market: Overview

  • In terms of value, the ethylene vinyl acetate market is expected to cross US$ 7.3 Bn by 2030
  • The global food & beverages industry comprises farming, food production, food distribution, retail, and catering. Food and beverages need to be packaged in plastic bags, containers, sachets, and pouches for the purpose of food distribution, retail sale, and catering. Ethylene vinyl acetate-based plastic packaging protects contents from damage and leakage. Additionally, this type of packaging meets consumer requirements in terms of esthetics, cost, and ease of handling. It also helps save fuel and limit greenhouse gas emissions.
  • Ethylene vinyl acetate-based plastic helps lower the weight of packaging, making it convenient for use. It also protects the food from decay and chemical & physical damage, while significantly improving its product life. Growth in the food & beverages industry is a key driver of the packaging industry. Expansion in the packaged food industry is anticipated to boost the demand for ethylene vinyl acetate resin-based food & beverage packaging during the forecast period.

Global & Asia Pacific Ethylene Vinyl Acetate Market: Key Drivers and Restraints

  • Ethylene vinyl acetate is used in packaging of personal care and medical products. Personal care and medical applications accounted for significant share of the global & Asia Pacific ethylene vinyl acetate market. Market share of these application segments is expected to rise in the near future.
  • Ethylene vinyl acetate-based foam possesses fine uniform cell structure, which allows it to be processed in a manner similar to other thermoplastics. It retains its resilience and flexibility, quickly recovers from compressions, and absorbs colors. The foam is molded in such a form that it becomes a sheet of a closed cell foam. China has been accounting for leading share of the packaging industry in Asia Pacific since the past few years. The packaging industry in the country is likely to expand at a steady pace during the forecast period, due to rise in production activities in the wire & cable industry. The packaging sector in India is projected to expand at a rate almost twice that in China in the near future. Rapid growth of the foam industry in developing regions, especially in Asia Pacific, is estimated to drive the demand for ethylene vinyl acetate in these regions during the forecast period.
  • Ethylene vinyl acetate is also used in place of vinyl and rubber products in many electrical applications. For instance, it is used to give plastic wrap its clinginess. It is also used with wax and resin additives to make hot-melt adhesives, hot glue sticks, and soccer cleats. This is expected to boost the adoption of ethylene vinyl acetate in various end-use applications, thereby driving the global & Asia Pacific ethylene vinyl acetate market during the forecast period.

Global & Asia Pacific Ethylene Vinyl Acetate Market: Major VA Types

  • Based on VA type, the global & Asia Pacific ethylene vinyl acetate market has been segmented into very low EVA (1%-7%), low EVA (7%-17%), mid EVA (17%-25%), and high EVA (>25%)
  • Mid EVA (17%-25%) was the major VA type segment of the global & Asia Pacific ethylene vinyl acetate market in 2019. This trend is expected to continue during the forecast period. Rise in usage of mid EVA (17%-25%) in packaging and footwear applications is driving the segment. Major manufacturers of film and foam widely use mid EVA (17%-25%) for key applications. The segment is likely to expand considerably during the forecast period.

Global & Asia Pacific Ethylene Vinyl Acetate Market: Prominent Product Types

  • Based on product type, the global & Asia Pacific ethylene vinyl acetate market has been bifurcated into autoclave and tubular
  • In terms of value, autoclave was the key segment of the global & Asia Pacific ethylene vinyl acetate market in 2019. The autoclave process is employed in the manufacture of ethylene vinyl acetate, which is used extensively in various commercial and industrial applications.

Global & Asia Pacific Ethylene Vinyl Acetate Market: Significant Applications

  • Based on application, the global & Asia Pacific ethylene vinyl acetate market has been divided into films, foams, hot melt adhesives, photovoltaic cells, wires & cables, and others
  • The foams segment is expected to dominate the global & Asia Pacific ethylene vinyl acetate market during the forecast period. Ethylene vinyl acetate is used extensively in foams due to its ability to impart resilience and softness. Cross-linked or open cell foams manufactured from ethylene vinyl acetate offer resistance to impact, chemical, moisture, and heat. Footwear is the primary end user of ethylene vinyl acetate foams. The trend of ethylene vinyl acetate being employed in foam application is projected to increase in the near future.

Global & Asia Pacific Ethylene Vinyl Acetate Market: Prominent End Users

  • Based on end use, the global & Asia Pacific ethylene vinyl acetate market has been segregated into footwear, paper & packaging, agriculture, solar cells, pharmaceutical, electrical, and others
  • The footwear segment is estimated to dominate the global & Asia Pacific ethylene vinyl acetate market during the forecast period. Ethylene vinyl acetate foams are primarily used in the footwear industry owing to their capability to impart softness and resilience. Ethylene vinyl acetate is used in soles in footwear. It provides comfort and cushioning, which is vital for walking long distances.

Asia Pacific to be Highly Lucrative Region of Global & Asia Pacific Ethylene Vinyl Acetate Market

  • In terms of demand, Asia Pacific has been a lucrative region of the global ethylene vinyl acetate market since the past few years. The region accounted for more than 65% share of the global ethylene vinyl acetate market in 2019.
  • Asia Pacific is expected to dominate the global ethylene vinyl acetate market during the forecast period. The ethylene vinyl acetate market in China expanded significantly in 2019. The country is anticipated to exhibit a lucrative trend for the ethylene vinyl acetate market in the near future. Outlook for the ethylene vinyl acetate market in Asia Pacific appears positive, due to increase in adoption of ethylene vinyl acetate resins in various end-use sectors, such as packaging, construction, automotive, and electronics & electrical, in the region. Additionally, Asia Pacific is a key producer of ethylene vinyl acetate across the globe.

Global & Asia Pacific Ethylene Vinyl Acetate Market: Competition Landscape

  • Key manufacturers operating in the global & Asia Pacific ethylene vinyl acetate market include
    • SK Global Chemical Co., Ltd.
    • BASF SE
    • Clariant AG
    • Celanese Corporation
    • The Dow Chemical Company
    • Hanwha Corporation
    • LyondellBasell Industries Holdings B.V.
    • International Polymers Company (IPC) (a SIPCHEM Company)
    • Tosoh Corporation
    • Westlake Chemical Corporation, Innospec Inc.
    • Braskem
    • LG Chem Ltd.
    • Exxon Mobil Corporation

Global & Asia Pacific Ethylene Vinyl Acetate Market – Scope of the Report

The new study on the global & Asia Pacific ethylene vinyl acetate market published by Transparency Market Research (TMR) presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as structure of the global & Asia Pacific ethylene vinyl acetate market. TMR’s study offers valuable information on the global & Asia Pacific ethylene vinyl acetate market to illustrate how growth would discern during the forecast period of 2020 to 2030.

Key indicators of market growth, which include value chain analysis as well as supply chain analysis and compounded annual growth rate (CAGR), have been elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global & Asia Pacific ethylene vinyl acetate market during the forecast period.

An extensive analysis of leading market players’ business strategies has also been featured in TMR’s study on the global & Asia Pacific ethylene vinyl acetate market. This can help readers understand principal factors to foresee the growth of the global & Asia Pacific ethylene vinyl acetate market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global & Asia Pacific ethylene vinyl acetate market, which would guide market players in making apt decisions in the near future.

Key Questions Answered in TMR’s Study on Global & Asia Pacific Ethylene Vinyl Acetate Market

  • What would be the Y-o-Y growth rate of the global & Asia Pacific ethylene vinyl acetate market between 2020 and 2030?
  • What is the influence of changing trends on the global & Asia Pacific ethylene vinyl acetate market?
  • Would Asia Pacific continue to remain the most profitable region for manufacturers of ethylene vinyl acetate in the near future?
  • Which factors would hamper the global & Asia Pacific ethylene vinyl acetate market during the forecast period?
  • Which are the leading companies of the global & Asia Pacific ethylene vinyl acetate market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the global & Asia Pacific ethylene vinyl acetate market and arrive at conclusions on growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.

Secondary sources referred to by analysts during the production of the report on the global & Asia Pacific ethylene vinyl acetate market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the global & Asia Pacific ethylene vinyl acetate market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global & Asia Pacific ethylene vinyl acetate market. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global & Asia Pacific ethylene vinyl acetate market with accuracy. The study also uses the top-down approach to assess numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects of the global & Asia Pacific ethylene vinyl acetate market more reliable and accurate.

Global & Asia Pacific Ethylene Vinyl Acetate Market – Segmentation

TMR’s study on the global & Asia Pacific ethylene vinyl acetate market segments the market based on VA type, product type, application, end use, and region. Changing market trends and other crucial market dynamics associated with these segments of the global & Asia Pacific ethylene vinyl acetate market have been discussed in detail.

VA Type

  • Very Low EVA (1%-7%)
  • Low EVA (7%-17%)
  • Mid EVA (17%-25%)
  • High EVA (>25%)

Product Type

  • Autoclave
  • Tubular

Application

  • Films
  • Foams
  • Hot-melt Adhesives
  • Photovoltaic Cells
  • Wires & Cables
  • Others (including Hose & Tubing)

End Use

  • Footwear
  • Paper & Packaging
  • Agriculture
  • Solar Cells
  • Pharmaceutical
  • Electrical
  • Others (including Automotive)

Region

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • Italy
  • U.K.
  • Spain
  • Russia & CIS
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • Thailand
  • Vietnam
  • Singapore
  • South Korea
  • Indonesia
  • Myanmar
  • Philippines
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Global Asia Pacific Ethylene Vinyl Acetate Market

Buy Now