Ethylene Vinyl Acetate Market worth $13.6 Billion by 2026 | Key players ExxonMobil Corp, Dow Inc., SIPCHEM, Formosa Plastics Corp, Hanwha Total Petrochemical

According to recent market research "Ethylene Vinyl Acetate Market by Type (Very low-density, Low-density, Medium-density, and High-density EVA), End-use Industry (Photovoltaic Panels, Footwear & Foams, Packaging, Agriculture), Application, and Region - Global Forecast to 2026", The Ethylene Vinyl Acetate market size is estimated to be USD 9.7 Billion in 2021 and is projected to reach USD 13.6 Billion by 2026, at a CAGR of 6.8%. Factors such as raising concern for healthcare and photovoltaic installations have increased the demand across the globe that support the market growth. Moreover, the significant growth of the construction and automobile industry in developing countries are driving the EVA market.

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Extruded sheets are estimated to be the largest form of EVA. This is due to its advantages, which include clarity, good surface quality, range of colors, easy maintenance, surface hardness, lightweight, and easy fabrication.

Ethylene Vinyl Acetate (EVA) EVA with 6% - 10% vinyl acetate content is commercially used for film applications. Films manufactured using EVA copolymers became the most widespread due to their properties, such as lower melting point, higher transparency, high impact resistance, thermal stability, elasticity, and hygienic characteristics.

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The EVA market size is estimated to be USD 9.7 Billion in 2021 and is projected to reach USD 13.6 Billion by 2026, at a CAGR of 6.8%. EVA is the copolymer of ethylene and vinyl acetate. It is an elastic material with the presence of about 10% - 40% of vinyl acetate content. It is also known as polyethylene vinyl acetate (PEVA), with high flexibility and softness. EVA also possesses good clarity and gloss, low-temperature toughness, stress resistance, high friction coefficient, hot-melt adhesive waterproof properties, and resistance to UV radiations. These copolymers are used in various end-use industries such as footwear & foams, packaging, agriculture, photovoltaic encapsulation, and others end-use industries.

EVA is a versatile, recyclable, sustainable, and durable material, owing to which it is gaining traction across several industrial applications. Due to its superior properties and the changing government policies such as European Green Deals, the global market for EVA is expected to grow.

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The demand for EVA is mainly catered to by global players manufacturing these coatings for various end-use industries Leading players operating in the EVA market include ExxonMobil Corporation (US), Dow Inc. (US), LG Chemical (South Korea), SIPCHEM (Saudi Arabia), LyondellBasell Industries N.V. (US), Celanese Corporation (US), Clariant AG (Switzerland), Formosa Plastics Corporation (Taiwan), China National Petroleum Corporation (China), Hanwha Total Petrochemical LanXess AG (South Korea Germany), Sumitomo Chemical Co., Ltd. Repsol SA (Spain), and Braskem SA (Brazil), and others. The EVA market has been witnessing key growth strategies, such as expansion, partnerships, and acquisitions.

Owing to the COVID-19 pandemic, there has been a mixed impact on the EVA market on the globe. Various industries such as footwear and building & construction, have witnessed a significant slump.
Most European and North American countries, especially Italy, Spain, the UK, France, the US, and Germany, are severely impacted by the COVID-19 pandemic. The suspension of manufacturing operations in several industrial sectors has resulted in a slump in overall specialty EVA market. Moreover, owing to the COVID-19 pandemic, the demand from the manufacturing sector had slumped sharply in the H-1 2020. This impact was further intensified by increasing the supply-demand gap in the supply chain and led to a sharp spike in raw material prices. However, during the pandemic period, the growing demand from the footwears supports to offset the marginal decline in demand caused due to the slowdown in the manufacturing sector across the globe.

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