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"The high potential from the packaging and solar energy sector and huge economic growth in Asia-Pacific countries is driving the market for ethylene vinyl acetate”
The market size for ethylene vinyl acetate is projected to reach USD 9.71 billion by 2020, registering a CAGR of 3.5% between 2015 and 2020. Increasing demand from the packaging and solar energy sector is the major driver for EVA market. The global packaging industry is expected to rise with the growing demand for EVA in food and medical packaging application due to its non-toxic nature. The rising need for convenient packaging and introduction of new packaging materials has fueled the EVA demand in this sector. The solar energy industry is another major segment boosting the growth of EVA, globally. The global solar power industry is witnessing high growth at present, as governments are now shifting toward solar, wind, and other clean-energy sources. With the increasing usage of EVA in photovoltaic encapsulation in some major economies, such as India, China, Germany, Italy, and France, the market is expected to boost further. Further, Asia-Pacific is the growing market for the solar energy industry. China acquires the largest market in solar energy sector in Asia-Pacific. In addition, strong government support across the countries in the Asia-Pacific region holds potential opportunities for the solar panel market, thus contributes hugely to the EVA market.
Film is the largest application of EVA. Films are used widely in packaging, solar, and agriculture industries. As EVA films are characterized with lower melting point, higher transparency, high impact resistance, thermal stability, elasticity, and hygienic characteristics, it is the ideal material for the packaging application. The medical industry involves the usage of EVA films in medical devices and in medical packaging application such as blood bags, tubing, and nutrition bags. In the food & beverages industry EVA films are primarily used in packing eatables and drinks as they decrease the permeability to gases and moisture, providing lower sealing temperature. Agriculture is another major sector using EVA films for expanding green agricultural practices, globally. These films are used as greenhouse films, as they retain more heat inside greenhouses at night for longer duration.
Asia-Pacific, the largest market for ethylene vinyl acetate
Asia-Pacific is the largest market for EVA globally, with China being the most dominant market. This region accounted for the largest market share which is attributed to the rapid economic expansion currently undergoing in the region. The demand of EVA is highly dependent on the massive economic expansion and growth in construction, medical, agricultural, and packaging industries in the region. Further, rapid development in Asia-Pacific is driving the demand for EVA for films, injection molding, extrusion coatings, and other applications.
This study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided in three categories: by company; by designation; and by region.
The report also includes company profiles and competitive strategies adopted by the major market players, such as The Dow Chemical Company (U.S.), ExxonMobil Corp. (U.S.), LyondellBasell Industries NV (Netherlands), and E.I. du Pont de Nemours & Co. (U.S.), among others.
Reasons To Buy the report:
- By Company Type- Tier 1- 34%, Tier 2- 33% and Tier 3- 33%
- By Managers- 34%, Consultants- 33% and Presidents- 33%
- By Region- Asia-Pacific- 34%, North America- 33% and RoW- 33%
- To understand the global, regional, and national scenarios.
- To understand the market trends and dynamics along with key factors affecting
- To identify the present and upcoming market opportunities
- To identify the potential markets in various regions for EVA
- To track the recent developments in EVA market
- To understand the competitive background of the industry, and positioning of participants in the market