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| Global Ethylene Vinyl Acetate Market Growth |
Ethylene Vinyl Acetate is produced by copolymerization of ethylene and vinyl
acetate. It is used in hot melt adhesives, packaging, films and injection
molding due to its excellent elastic behavior, transparency and flexibility.
Its bonding strength and hot tack properties makes it suitable for packaging
tapes, cartons, bags and liners.
The global
Ethylene Vinyl Acetate Market is estimated to be valued at US$ 1,484.94 Mn or Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
One of the key trends in the Ethylene Vinyl Acetate market is rising demand for
plastomers. Plastomers are specialty thermoplastic elastomers based on Ethylene
Vinyl Acetate providing superior elastic properties and processability. They
are extensively used in hoses, tubing, profile extrusions, films and footwear
due to their flexibility even at low temperatures. Their elastic behavior and
ease of processing has made them popular in various industries like consumer
goods, automotive and construction. This has driven the growth of plastomers
segment in the global Ethylene Vinyl Acetate market during the forecast period.
Segment Analysis
The global ethylene vinyl acetate market is segmented by type, end use industry
and geography. By type, the market is divided into polypropylene (PP)-based EVA
and polyethylene (PE)-based EVA. PE-based EVA dominates the market as it offers
higher tensile strength, flex resistance and impermeability as compared to
PP-based EVA. By end use industry, the market is classified into packaging,
agriculture, photovoltaic panels, footwear and others. The packaging segment
accounts for the largest share as EVA is majorly used in manufacturing flexible
packaging, coffee pouches, snack food packaging due to its solid bonding, high
transparency and elasticity properties.
Key Takeaways
The Global
Ethylene Vinyl Acetate Market Growth is expected to witness high
growth, exhibiting CAGR of 4.8% over
the forecast period, due to increasing demand from packaging industries.
Regional analysis:
Asia Pacific dominates the global market and is expected to maintain its lead
over the forecast period. China dominates the Asia Pacific region owing to
growing population, improving standards of living and increasing demand for
processed and packaged food. North America and Europe are other major regions
for EVA market.
Key players:
Key players operating in the ethylene vinyl acetate market are Arlanxeo, Asia
Polymer Corporation, Benson Polymers Limited, Braskem, Celanese Corporation,
Clariant AG, Dow, ExxonMobil Corporation, Hanwha, Solutions/Chemical
Corporation, Innospec Inc., LyondellBasell Industries Holdings BV, Repsol,
Sipchem, SK Global, Sumitomo Chemical Co. Ltd, and Tosoh Corporation. Arlanxeo,
Dow and ExxonMobil captured over 30% share of global EVA market in 2021.
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