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Ethylene Vinyl Acetate Market to Grow at a CAGR of 5.68% during the forecast to 2035 | ChemAnalyst
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.
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 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.
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