According to ChemAnalyst report, “Global Ethylene Vinyl Acetate (EVA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035”, The Ethylene Vinyl Acetate (EVA) market is likely to experience a significant increase by reaching 6000 thousand tonnes in 2035, at an expected CAGR of 5.68% during the forecast period. The increasing demand of Ethylene Vinyl Acetate (EVA) from Footwears, Adhesives, Packaging, Photovoltaic Cell, and others end-use industries, is anticipated to hike the demand for Ethylene Vinyl Acetate (EVA) market in the coming years.
Ethylene Vinyl Acetate (EVA) is a copolymer of vinyl acetate and ethylene. This is a crack-resistant resin that offers high flexibility, resistance to low temperatures as low as -70degree Celsius coupled with good strength, and resistance to chemicals. This makes it a suitable material for making footwears. It is also used to make automobile components, hose, toys, flexible packaging films, athletic goods and much more.
The Ethylene Vinyl Acetate (EVA) market across the globe is driven by the footwear industry. In 2021, the Footwear Industry consumed more than 50% of the global EVA. The high coefficient of friction, high durability, water-resistance, and crack resistance are the key factors for the utilization of EVA as a raw material for manufacture of footwears. Moreover, EVA also shows high bonding properties with different materials due to which it is used for manufacture of adhesives. EVA adhesives are far superior to vinyl-based adhesives and can adhere to a wide array of materials, paving way for the growth of the global Ethylene Vinyl Acetate (EVA) market in the coming years.
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The Ethylene Vinyl Acetate (EVA) market is segmented based on end-use, sales channel, and region. Based on end-uses, the Ethylene Vinyl Acetate (EVA) market is segregated into Footwears, Adhesives, Packaging, Photovoltaic Cell, and others. The Footwear industry is the dominating the global Ethylene Vinyl Acetate (EVA) market and is anticipated to remain the most significant consumer in forecast period. The adhesives and packaging industry also holds a prominent market share of the EVA market. Furthermore, it is projected that the demand for ethylene vinyl acetate (EVA) is anticipated to be propelled by the photovoltaics industry, where solar panels use EVA as an adhesive.
Asia Pacific dominates the global Ethylene Vinyl Acetate (EVA) market, consuming about with a demand of approximately 50% of the global Ethylene Vinyl Acetate (EVA) among all other regions. Owning up to increasing industrial applications and consumer goods, the demand of packaging material will grow which is anticipated to further swell the demand of EVA in the forecast period.
“Global Ethylene Vinyl Acetate (EVA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035”, the significant players functional in the Ethylene Vinyl Acetate (EVA) market include ExxonMobil Corporation, Sinopec, Hanwha Total Petrochemical, Formosa Plastics Corporation, BASF-YPC, Dow, Shaanxi Yanchang Zhongmei Yulin Energy Chemical Co., Ltd, and others.
“The surging demand of Ethylene Vinyl Acetate (EVA) due to its high coefficient of friction and durability is driving its usage to manufacture footwear which is expected to drive the Global Ethylene Vinyl Acetate (EVA) market in the forecast period until 2035. Continuous growing demand for Ethylene Vinyl Acetate (EVA) due to its excellent binding properties is responsible for its applications in various industries such as the Photovoltaics Industry, which contributes finely to the Ethylene Vinyl Acetate (EVA) market expansion in the coming years “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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