The
global Ethylene
Vinyl Acetate (EVA) Market is projected to reach USD 9.71 Billion at a CAGR of 3.5% by 2020. This
growth is fuelled by the high potential from the packaging and solar power
industry, increasing global demand for EVA in footwear & foams sector, and
the growth in the Asia-Pacific region.
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The Asia-Pacific region leads in the consumption of ethylene vinyl acetate. Its consumption in the other regions is industry specific. Film and injection molding applications share a large consumption both in the Asia-Pacific and ROW regions. The consumption of ethylene vinyl acetate in film industry is quite high in ROW and the Asia-Pacific, and is slowly penetrating into the North American market. The growth of fast developing countries in the Asia–Pacific assures investment and increase in consumption of ethylene vinyl acetate. Also, increasing purchasing power in developing countries and need for high performance products may add to its high demand in the future.
Currently,
the demand for ethylene vinyl acetate is driven by its increasing demand in
film, compounding, and wire & cable applications that require material with
specific properties. The properties such as softness, flexibility, low
temperature toughness, stress-crack resistance, resistance to UV radiations,
and so on, makes ethylene vinyl acetate a preferred material in these
industries. Emerging high and medium density ethylene vinyl acetate encloses
the important opportunities in the ethylene vinyl acetate market. The growing
medium density ethylene vinyl acetate market mainly includes film and injection
molding application. High density ethylene vinyl acetate market has improved
material properties and hence is finding emerging applications in industries
such as injection molding, hot melt adhesives, coating, and solar panels.
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The EVA market has a few numbers of
global players competing significantly for the market share, who are actively
investing in various strategies. Major
players such as The Dow Chemical Company (U.S.), ExxonMobil Corporation (U.S.),
LyondellBasell Industries NV (Netherlands), E.I. du Pont de Nemours & Co.
(U.S.), Celanese Corporation (U.S.), and Arkema S.A. (France) among others have
adopted various organic and inorganic developmental strategies.
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