Report Description:

Ethylene Vinyl Acetate (Eva) Market size was valued at $6,052 million in 2015, and is expected to reach $10,050 million by 2022, growing at a CAGR of 7.5% from 2016 to 2022. EVA, also referred to as poly(ethylene-vinyl acetate) (PEVA), is produced from polymerization of ethylene and vinyl acetate (VA) monomer. It is available in the market as a free-flowing powder, which can be redispersed easily to form a latex dispersion. Elasticity, durability, permeability, and heat sealing temperature of EVA resins vary depending upon the vinyl acetate content. High line speeds of 600 mpm can be achieved without compromising the adhesion between the coating and substrate by using an EVA copolymer containing 0.5‐2.5% VA content as the coating polymer.

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Growth in the packaging industry is the primary factor that drives the EVA resin market globally. In addition, this growth is supplemented by the increase in applications of EVA resins in various end-user industries, such as photovoltaic panels, footwear & automotive, and rise in per capita income in developing economies. Asia-Pacific was the leading region, in terms of both volume and revenue, in 2015 and is expected to witness significant growth in the near future, due to rise in number of solar projects, which use EVA resins as an encapsulating agent. Fluctuating prices & availability of raw materials, potential problems about use of EVA resins in photovoltaic packaging, and increasing competition from substitutes, such as linear low-density polyethylene (LLDPE), are expected to restrict the market growth. Development of bio-based EVA copolymers and growth in solar industry provide numerous opportunities for EVA resins market expansion.

The EVA resins market is segmented on the basis of type, application, end user, and geography. Based on type, the market is categorized into vinyl acetate modified polyethylene, thermoplastic ethylene vinyl acetate, and ethylene vinyl acetate rubber. According to application, it is divided into film, foam, hot melt adhesives, wire & cable, extrusion coating, solar cell encapsulation, and others (injection molding and medical tubing). Based on end user, it is classified into automotive; packaging & paper; paints, coatings & adhesives; electronics & electrical; pharmaceutical; footwear; photovoltaic panels; and others (agriculture and medical). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Market Dynamics

Drivers

• Growth in Packaging Industry

EVA copolymer resins are utilized in variety of medical and food packaging applications. Vinyl acetate provides side chain branches that are chemically active and delivers unique functionality including increased flexibility, enhanced optical properties, lower sealing temperature, and improved puncture resistance.

Opportunities

• Introduction of Bio-based Ethylene Vinyl Acetate Copolymers

In April 2012, Cereplast, Inc. launched Hybrid 651D, a hybrid compound developed using EVA and starch. This compound possesses all properties of traditional EVA and offers a low carbon footprint.

• Expansion of the Solar Industry

Electrically insulating and thermally conductive EVA resins are widely used for encapsulation of photovoltaic modules as they assist in increasing life span of solar cells and deliver transparency & enhanced adhesion properties.

Country-level Analysis

South Korea accounted for 0.82% share in the Asia-Pacific EVA resins market in 2015. New product developments and acquisitions are the key strategies used by Korean manufacturers to increase their market share.

Key leading players operating in this market include Arkema S.A., Braskem SA, Celanese Corporation, E.I. du Pont de Nemours and Company, Exxon Mobil Corporation, Formosa Plastics Corporation, Hanwha Chemical Co, Ltd., Lyondell Basell Industries N.V., Sinopec Corp., and The DOW Chemical Company

Other key market players in the value chain include A. Algeo Ltd., Andrew Pearson Industries, API S.p.A, BASF-YPC Company Limited., Hoehn Plastics, Inc., Honam Petrochemical Corporation, Japan Polychem Corporation, Japan Polyolefins Co., Ltd., Lanxess Deutschland GmbH, LG Chem Ltd., Modern Dispersions, Inc., Polimeri Europa S.R.L, Reliance Industries Limited., SKC Co., Ltd., The Polyolefin Company (Singapore) Pte Ltd., Tosoh Corporation, Ultralon Australia Pty Ltd., USI Corporation, Versalis S.p.A., and Westlake Chemical Corporation.

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Key Benefits

• This report provides a quantitative and qualitative analysis of the current market trends and estimations through 2014‐2022, which assist in identifying the prevailing market opportunities in different product and application segments.
• Market trends of major countries in each region are mapped according to projected market revenue.
• Top investment pockets that showcase the opportunities in the most lucrative product segments are also provided.
• Focused study of the factors that drive and restrict the growth of the EVA resins market is provided.
• An in-depth analysis of different regulations within the market is provided.
• Key manufactures of EVA resins are profiled and their recent developments are listed.

Ethylene Vinyl Acetate (Eva) Resins Market Key Segments:

By Type

• Vinyl Acetate Modified Polyethylene (Low VA Density)
• Thermoplastic Ethylene Vinyl Acetate (Medium VA Density)
• Ethylene Vinyl Acetate Rubber (High VA Density)

By Application

• Film
• Foam
• Hot Melt Adhesives
• Wire & Cable
• Extrusion Coating
• Solar Cell Encapsulation
• Others (Injection Molding and Medical Tubing)

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