Ethylene Vinyl Acetate (EVA) Market Surges, Anticipated to Reach $9.12 Billion in 2024

The ethylene vinyl acetate market exhibits robust growth, escalating from $8.41 billion in 2023 to a projected $9.12 billion in 2024, boasting a commendable Compound Annual Growth Rate (CAGR) of 8.5%. This upward trajectory is poised to continue, reaching $12.65 billion by 2028, maintaining a steady CAGR of 8.5%.

Drivers:
Packaging Industry Momentum:
The ethylene vinyl acetate market benefits from a surge in demand within the packaging sector, particularly during the COVID crisis, as observed in the US flexible packaging industry's substantial increase in sales to $39 billion in 2021. EVA, known for its water resistance, corrosion resistance, and thermal insulation, is widely utilized in hot melt adhesives, aligning with the packaging industry's needs.

Footwear Industry Surge:
The expanding footwear industry significantly contributes to the ethylene-vinyl acetate market's growth. With a 2.9% growth projected in the US athletic footwear sector in 2023, EVA's properties, including flexibility and durability, make it a preferred material. The sector's revenue of $14.5 billion in 2022 further indicates the growing demand for ethylene-vinyl acetate.

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Key Players:
Major companies such as ExxonMobil Corporation, BASF SE, and Dow Chemical Company spearhead the ethylene vinyl acetate market. Their strategic positioning and industry expertise contribute to the market's sustained growth.

Trends:
Technological Advancements:
The adoption of new technologies for ethylene-vinyl acetate production emerges as a key trend. LyondellBasell's introduction of Lupotech T high-pressure polyethene technology in collaboration with Shandong Yulong Petrochemical exemplifies the industry's commitment to enhancing manufacturing performance and meeting growing market demands.

Capacity Expansion Initiatives:
Major players are strategically expanding production capacity to meet the escalating demand for ethylene-vinyl acetate. Celanese Corporation's ultra-low capital project in Edmonton, Alberta, increased EVA production capacity by approximately 35%, indicating a proactive approach to fulfilling market needs.

Segments:
The ethylene vinyl acetate market covered in this report is segmented -
1) By Type: Very Low Density Ethylene Vinyl Acetate, Low density Ethylene Vinyl Acetate, Medium Density Ethylene Vinyl Acetate, High Density Ethylene Vinyl Acetate
2) By Application: Film, Foam, Hot Melt Adhesives, Wire and Cable, Extrusion Casting, Solar Cell Encapsulation, Other Applications
3) By End-Use Industry: Footwear and Foams, Packaging, Agriculture, Photovoltaic panels, Pharmaceuticals, Other End Users

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Ethylene Vinyl Acetate Global Market Report 2024 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Ethylene Vinyl Acetate Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on ethylene vinyl acetate market size, ethylene vinyl acetate market drivers and trends, ethylene vinyl acetate market major players, ethylene vinyl acetate market competitors' revenues, ethylene vinyl acetate market positioning, and ethylene vinyl acetate market growth across geographies. The ethylene vinyl acetate market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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