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Ethylene Vinyl Acetate Market Report 2024: Strategies And Recent Developments
Ethylene Vinyl Acetate Market
The Business Research Company offers in-depth market insights through Ethylene Vinyl Acetate Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ethylene vinyl acetate market size has grown strongly in recent years. It will grow from $8.41 billion in 2023 to $9.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to footwear industry, packaging and film applications, solar panel encapsulation, medical devices, automotive interiors.
The ethylene vinyl acetate market size is expected to see strong growth in the next few years. It will grow to $12.65 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to solar energy growth, recycling and circular economy, lightweight and sustainable footwear, increased eva versatility, healthcare and pandemic preparedness. Major trends in the forecast period include noise reduction in automotive, eva in electric vehicles (evs), eva-based medical devices, smart packaging with eva, biomedical innovations.
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Market Segmentation:
The main types of ethylene vinyl acetate are very low-density ethylene vinyl acetate, low-density ethylene vinyl acetate, medium-density ethylene vinyl acetate, and high-density ethylene vinyl acetate. Low-density ethylene vinyl acetate is a polymer of low-density polyethene and vinyl acetate. It has high mechanical strength and flexibility at low temperatures, is more resilient than PVC and more flexible than LDPE, and has a higher permeability to water vapor and gases. The different applications include film, foam, hot melt adhesives, wire and cable, extrusion casting, and solar cell encapsulation and are used in various end-use industries, including footwear and foams, packaging, agriculture, photovoltaic panels, pharmaceuticals, and others.
Major Driver - Packaging Industry Demand Boosts Ethylene Vinyl Acetate Market Growth
The rise in demand from the packaging industry is contributing to the growth of the ethylene vinyl acetate market. The rise in the demand for ethylene-vinyl acetate is being witnessed in the packaging sector due to more online purchasing during the COVID crisis. Ethylene-vinyl acetate (EVA) is the most prevalent polymer employed in hot melt adhesives for packaging applications. Packaging in EVA has good water resistance, corrosion resistance, easy processing, anti-vibration, and thermal insulation. They are strong, reusable, and delightful in appearance, and they are popular mostly among consumers. For instance, in 2022, according to reports shared by the Flexible Packaging Association, a US-based non-profit organization, the U.S. flexible packaging industry saw a substantial increase in sales in 2021, reaching an estimated $39 billion, up from $34.8 billion in the previous year. The increase in demand for packaging materials and the positive growth of the packaging industry during the forecast period will further propel the growth of the ethylene vinyl acetate market.
Competitive Landscape:
Major companies operating in the ethylene vinyl acetate market include ExxonMobil Corporation, Arkema SA, Asia Polymer Corporation, BASF SE, Braskem SA, Celanese Corporation, Clariant AG, Dow Chemical Company, Dupont-Mitsui Polychemicals Co. Ltd., E.I. Du Pont De Nemours & Co., Formosa Plastics Corporation, Hanwha Total Petrochemical Co. Ltd., Innospec Inc., Kemipex Group, LyondellBasell Industries N.V., Porex Corporation, Repsol S.A., Saudi International Petrochemical Company, SK Global Chemical Co. Ltd., Sumitomo Chemical Co. Ltd., Tosoh Corporation, Versalis, Westlake Chemical Corporation, Eastman Chemical Company, LyondellBasell, China Petroleum and chemical corporation, Mitsui Chemicals, LG Chem, Hanwha Solutions Corporation, TotalEnergies SE, Saudi Basic Industries Corporation, Lotte Chemical Corporation, INEOS Group Ltd., Ravago Group
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Top Trend - Technological Advancements Reshaping Ethylene Vinyl Acetate Production
The introduction of new technologies for the production of ethylene-vinyl acetate is a key trend gaining popularity in the ethylene vinyl acetate market. Companies involved in the production of ethylene-vinyl acetate are introducing new technological processes in their production facilities to improve manufacturing performance and meet the growing need for EVA in the market. For instance, in April 2021, LyondellBasell, a Netherlands-based chemical company, revealed that Shandong Yulong Petrochemical Co. Ltd., a China-based oil and natural gas company, had introduced LyondellBasell Lupotech T high-pressure polyethene technology in two different production lines at a new plant. The process technique will be used to make low-density polyethene (LDPE) with vinyl acetate copolymer on a 200 KTA LDPE line and a 300 KTA LDPE and ethylene-vinyl acetate copolymer (EVA) line.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ethylene Vinyl Acetate Market Characteristics
3. Ethylene Vinyl Acetate Market Trends And Strategies
4. Ethylene Vinyl Acetate Market - Macro Economic Scenario
5. Ethylene Vinyl Acetate Market Size And Growth
…..
27. Ethylene Vinyl Acetate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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