Ethylene Vinyl Acetate Market
Ethylene Vinyl Acetate Market Analysis By Type (Very Low Density, Low Density, Medium Density, High Density EVA), By End-use Industry (Footwear & Foam, Packaging, Agriculture, Photovoltaic Panels), by Region - Global Forecast 2022 to 2032
Analysis of Ethylene Vinyl Acetate market covering 30+ countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Ethylene Vinyl Acetate Market Growth Analysis (2022 to 2032)
The ethylene vinyl acetate market size in terms of revenue was valued at US$ 8.84 Billion in 2021. The global market is projected to grow from US$ 8.99 Billion in 2022 to US$ 11.37 Billion by 2032-end, growing at a CAGR (Compound Annual Growth Rate) of 2.4% during the forecast period from 2023 to 2032.
Increasing demand for elastomer polymers and their application in industries such as footwear, packaging, agriculture, pharmaceuticals, etc., is driving the ethylene vinyl acetate (EVA) market expansion.
Fact.MR, a market research and competitive intelligence provider, foresees flourishing growth in demand for ethylene vinyl acetate. A few decades ago, ethylene vinyl acetate was only used in the foam and footwear industries. However, it has now become a key component of sustainable packaging solutions.
Ethylene vinyl consumption accounts for around 3%-4% revenue of the global elastomeric polymer market. Growing application of ethylene vinyl acetate in several end-use verticals such as agriculture, pharmaceuticals, packaging, footwear, foam, and others will increase this revenue share by 1%-2% over the forecast period.
| Report Attributes | Details |
|---|---|
| Market Size in 2021 | US$ 8.84 Billion |
| Market Value in 2022 | US$ 8.99 Billion |
| Forecasted Market Value (2032F) | US$ 11.37 Billion |
| Global Market Growth Rate (2022 to 2032) | 2.4% CAGR |
| North America Market Share (2022) | 31.5% |
| North America Growth Rate (2022 to 2032) | 2.3% CAGR |
| United States Growth Rate (2022 to 2032) | 2.3% CAGR |
| Market Share of Top 5 Companies | ~32% |
| Key Companies Profiled | Arkema Group; ARLANXEO Holding B.V.; Asia Polymer Corporation; Braskem S.A.; Celanese Corporation; Clariant AG; Dow Chemical Company; ExxonMobil Corporation; Formosa Plastic Corporation; Hanwha Total Petrochemical Co. Ltd; Lyondell Basell Industries N.V.; Sahara International Petrochemical Company; SIPCHEM |
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Ethylene Vinyl Acetate Consumption Analysis (2017 to 2021) Vs. Market Forecast Outlook (2022 to 2032)
Utilization of ethylene vinyl acetate experienced a growth rate of 2% over the past half-decade.
The ethylene vinyl market has seen steady growth over the past few years due to demand from end-use industries such as pharmaceuticals and packaging. Manufacturers have increased their production capacity to cater to the demand growth.
In the packaging industry, ethylene vinyl acetate (EVA) is used as a sustainable packaging material for consumer goods, since it does not contain chlorine in its manufacturing solution. The global packaging industry has witnessed 2.8% cumulative growth over the past 2 years, and this trend is poised to surge product penetration 2.5X in the packaging industry by 2032.
In addition, growing demand for low-density ethylene vinyl acetate in end-use industries is likely to open new doors for manufacturers during the assessment period.
Fact.MR’s chemical & materials team has tracked various parameters of the market, which summarizes the growth trajectory, including end-use preference, production expansion, demand outlook, and growth trends. After analyzing these important factors, the global EVA market is estimated to be valued at around US$ 8.99 billion in 2022, and is presumed to expand at a CAGR of 2.4% through 2032.
Which Factors are Responsible for Increasing EVA Demand?
“High EVA Usage in Packaging Applications”
Ethylene vinyl acetate does not utilize chlorine in its manufacturing process, and due to this, it is considered a prominent material for packaging applications. Moreover, application of EVA provides flexible, durable, cost-effective, and sustainable packaging solutions.
EVA demand is poised to benefit from an increase in demand for elastomer polymers during the forecast period. Swelling application of elastomer polymers in footwear, packaging, pharmaceuticals, and agriculture will supplement demand for ethylene vinyl acetate over the coming years.
“EVA Being Used for Cell Encapsulation in Solar Panels”
Growing popularity of solar panels and shifting consumer preference towards renewable energy sources will boost demand for solar panels, in turn, driving demand for ethylene vinyl acetate since it is extensively utilized for cell encapsulation in solar panels.
Furthermore, increased public awareness of energy saving, self-sufficiency, and favorable government laws are expected to drive EVA consumption in alternative end-use applications over the coming years.
“Rising EVA Application in Advanced Medical Devices”
According to the study done by Fact.MR, requirements of end-use industries are highly specific and need to be catered to function properly. Customers require a particular type of EVA and other specs for their end-use applications.
Ethylene vinyl acetate has witnessed abundant application in medical packaging, pharmaceutical, and medical devices over the past three decades. Emerging application for manufacturing cryogenic storage bags is likely to provide a noteworthy demand outlook from the healthcare sector.
In addition, the simple molecular structure of ethylene vinyl acetate is anticipated to enable innovative solutions to some of healthcare’s unaddressed challenges over the coming years.
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Country-wise Analysis
Why is the U.S. a Notable Market for Ethylene Vinyl Acetate Manufacturers?
The United States EVA market has been growing briskly due to increasing demand for sustainable packaging solutions from healthcare and pharmaceutical end-use verticals.
The United States currently accounts for more than 89% of North American ethylene vinyl acetate market, and is expected to create an absolute $ opportunity of US$ 690 million over the assessment period.
Which Country Leads the APAC Ethylene Vinyl Acetate Market?
East Asia is likely to be a lucrative market, followed by Europe, and is predicted to contribute significantly to market growth over the decade. China is projected to generate an absolute $ opportunity of US$ 427.4 million over the forecast period.
Due to rapid growth of the chemicals industry and expanding manufacturing facilities, China is likely to drive high demand in the APAC region. According to this Fact.MR research, the China EVA market is predicted to expand at a CAGR of 3.1% accounting for ~42.7% share in the global market.
Category-wise Insights
Which End Use is Set to Drive High Demand for Ethylene Vinyl Acetate?
Growth in end-use verticals and rising application of EVA has created abundant opportunities for manufacturers to raise their production volumes over the past few years. Versatile applications of EVA in footwear & foam, packaging, agriculture, photovoltaic panels, pharmaceuticals, and other end-use industries is predicted to aid market expansion going forward.
According to Fact.MR research, EVA application in footwear & foam is the most lucrative segment. This segment is anticipated to generate a valuation of US$ 2.8 billion expanding at a CAGR of 3% during the assessment period.
Why is Low Density EVA Gaining Noteworthy Traction?
Low density EVA captured more than 31% of the market in 2021, and is expected to expand at a CAGR of ~2.5% during the forecast period. This segment is anticipated to reach a valuation of 3.6 billion by the end of 2032.
Medium density ethylene vinyl acetate has multiple end-use applications in footwear & foam, packaging, and pharmaceuticals; however, packaging & pharmaceuticals are anticipated to remain pivotal for the demand for medium-density EVA. This sub-segment is set to capture around 28% market revenue share and generate an absolute $ opportunity of US$ 600 million by 2032.
High density EVA accounts for nearly ~19% market share and is likely to follow a stagnant trend over the assessment period.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
The global market for EVA is highly consolidated with only a few tier-1 manufacturers occupying a large share of the market. The focus of major players across the world is mostly on product development and distribution network expansion.
Prominent players in the market follow the competitive market pricing strategy in the ethylene vinyl acetate market. Companies are entering into collaborations and partnerships with end-use industries to bolster their consumer base.
- ExxonMobil Corporation, in 2019, acquired Materia, Inc. The high structural performance company is a Nobel prize-winning firm for the technology for manufacturing a new class of materials.
- Celanese Corporation, in 2019, announced the acquisition of Next Polymers Ltd. This acquisition is likely to lead to rapid growth in the Indian business and broaden the company’s ability to serve nylon and other engineered materials coupled with offering a wide range of polymer products over the coming years.
Industry Research by Category
-
By Product Type :
- Very Low Density EVA
- Low Density EVA
- Medium Density EVA
- High Density EVA
-
By End-use Industry :
- Footwear & Foam
- Packaging
- Agriculture
- Photovoltaic Panels
- Pharmaceuticals
- Other End-use Industries
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Market Background
- 5. Value Chain Analysis
- 6. Global Market - Pricing Analysis
- 7. Global Market Value 2017 to 2021 Analysis and Forecast 2022 to 2032
- 8. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Type
- 8.1. Very Low Density EVA
- 8.2. Low Density EVA
- 8.3. Medium Density EVA
- 8.4. High Density EVA
- 9. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By End Use Industry
- 9.1. Footwear & Foam
- 9.2. Packaging
- 9.3. Agriculture
- 9.4. Photovoltaic Panel
- 9.5. Pharmaceuticals
- 9.6. Other End-Use Industries
- 10. Global Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Europe
- 10.4. APAC
- 10.5. Middle East and Africa (MEA)
- 11. North America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 12. Latin America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 13. Europe Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 14. APAC Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 15. Middle East and Africa (MEA) Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 16. Key Countries Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 17. Market Structure Analysis
- 18. Competition Analysis
- 18.1. Arkema Group
- 18.2. ARLANXEO Holding B.V.
- 18.3. Asia Polymer Corporation
- 18.4. Braskem S.A.
- 18.5. Celanese Corporation
- 18.6. Clariant AG
- 18.7. Dow Chemical Company
- 18.8. ExxonMobil Corporation
- 18.9. Formosa Plastic Corporation
- 18.10. Hanwha Total Petrochemical Co. Ltd
- 18.11. Lyondell Basell Industries N.V.
- 18.12. Sahara International Petrochemical Company
- 18.13. SIPCHE
- 19. Assumptions & Acronyms Used
- 20. Research Methodology
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List Of Table
Table 01: Global Market Value (USD Million) and Forecast by Region, 2017 to 2021
Table 02: Global Market Value (USD Million) and Forecast by Region, 2022 to 2032
Table 03: Global Market Value (USD Million) and Forecast By Type, 2017 to 2021
Table 04: Global Market Value (USD Million) and Forecast By Type, 2022 to 2032
Table 05: Global Market Value (USD Million) and Forecast By End Use Industry, 2017 to 2021
Table 06: Global Market Value (USD Million) and Forecast By End Use Industry, 2022 to 2032
Table 07: North America Market Value (USD Million) and Forecast by Country, 2017 to 2021
Table 08: North America Market Value (USD Million) and Forecast by Country, 2022 to 2032
Table 09: North America Market Value (USD Million) and Forecast By Type, 2017 to 2021
Table 10: North America Market Value (USD Million) and Forecast By Type, 2022 to 2032
Table 11: North America Market Value (USD Million) and Forecast By End Use Industry, 2017 to 2021
Table 12: North America Market Value (USD Million) and Forecast By End Use Industry, 2022 to 2032
Table 13: Latin America Market Value (USD Million) and Forecast by Country, 2017 to 2021
Table 14: Latin America Market Value (USD Million) and Forecast by Country, 2022 to 2032
Table 15: Latin America Market Value (USD Million) and Forecast By Type, 2017 to 2021
Table 16: Latin America Market Value (USD Million) and Forecast By Type, 2022 to 2032
Table 17: Latin America Market Value (USD Million) and Forecast By End Use Industry, 2017 to 2021
Table 18: Latin America Market Value (USD Million) and Forecast By End Use Industry, 2022 to 2032
Table 19: Europe Market Value (USD Million) and Forecast by Country, 2017 to 2021
Table 20: Europe Market Value (USD Million) and Forecast by Country, 2022 to 2032
Table 21: Europe Market Value (USD Million) and Forecast By Type, 2017 to 2021
Table 22: Europe Market Value (USD Million) and Forecast By Type, 2022 to 2032
Table 23: Europe Market Value (USD Million) and Forecast By End Use Industry, 2017 to 2021
Table 24: Europe Market Value (USD Million) and Forecast By End Use Industry, 2022 to 2032
Table 25: APAC Market Value (USD Million) and Forecast by Country, 2017 to 2021
Table 26: APAC Market Value (USD Million) and Forecast by Country, 2022 to 2032
Table 27: APAC Market Value (USD Million) and Forecast By Type, 2017 to 2021
Table 28: APAC Market Value (USD Million) and Forecast By Type, 2022 to 2032
Table 29: APAC Market Value (USD Million) and Forecast By End Use Industry, 2017 to 2021
Table 30: APAC Market Value (USD Million) and Forecast By End Use Industry, 2022 to 2032
Table 31: MEA Market Value (USD Million) and Forecast by Country, 2017 to 2021
Table 32: MEA Market Value (USD Million) and Forecast by Country, 2022 to 2032
Table 33: MEA Market Value (USD Million) and Forecast By Type, 2017 to 2021
Table 34: MEA Market Value (USD Million) and Forecast By Type, 2022 to 2032
Table 35: MEA Market Value (USD Million) and Forecast By End Use Industry, 2017 to 2021
Table 36: MEA Market Value (USD Million) and Forecast By End Use Industry, 2022 to 2032
Table 37: US Market Value (USD Million) and Forecast, 2017 to 2021
Table 38: US Market Value (USD Million) and Forecast, 2022 to 2032
Table 39: Canada Market Value (USD Million) and Forecast, 2017 to 2021
Table 40: Canada Market Value (USD Million) and Forecast, 2022 to 2032
Table 41: Brazil Market Value (USD Million) and Forecast, 2017 to 2021
Table 42: Brazil Market Value (USD Million) and Forecast, 2022 to 2032
Table 43: Mexico Market Value (USD Million) and Forecast, 2017 to 2021
Table 44: Mexico Market Value (USD Million) and Forecast, 2022 to 2032
Table 45: Germany Market Value (USD Million) and Forecast, 2017 to 2021
Table 46: Germany Market Value (USD Million) and Forecast, 2022 to 2032
Table 47: France Market Value (USD Million) and Forecast, 2017 to 2021
Table 48: France Market Value (USD Million) and Forecast, 2022 to 2032
Table 49: Italy Market Value (USD Million) and Forecast, 2017 to 2021
Table 50: Italy Market Value (USD Million) and Forecast, 2022 to 2032
Table 51: BENELUX Market Value (USD Million) and Forecast, 2017 to 2021
Table 52: BENELUX Market Value (USD Million) and Forecast, 2022 to 2032
Table 53: NORDICS Market Value (USD Million) and Forecast, 2017 to 2021
Table 54: NORDICS Market Value (USD Million) and Forecast, 2022 to 2032
Table 55: China Market Value (USD Million) and Forecast, 2017 to 2021
Table 56: China Market Value (USD Million) and Forecast, 2022 to 2032
Table 57: Japan Market Value (USD Million) and Forecast, 2017 to 2021
Table 58: Japan Market Value (USD Million) and Forecast, 2022 to 2032
Table 59: India Market Value (USD Million) and Forecast, 2017 to 2021
Table 60: India Market Value (USD Million) and Forecast, 2022 to 2032
Table 61: GCC Countries Market Value (USD Million) and Forecast, 2017 to 2021
Table 62: GCC Countries Market Value (USD Million) and Forecast, 2022 to 2032
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List Of Figures
Figure 01: Global Market Value (USD Million) Forecast, 2022 to 2032
Figure 02: Global Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 03: Global Market Value (USD Million) by Region, 2022 & 2032
Figure 04: Global Market Y-o-Y Growth Rate by Region, 2022 to 2032
Figure 05: Global Market Value (USD Million) By Type, 2022 & 2032
Figure 06: Global Market Y-o-Y Growth Rate By Type, 2022 to 2032
Figure 07: Global Market Value (USD Million) By End Use Industry, 2022 & 2032
Figure 08: Global Market Y-o-Y Growth Rate By End Use Industry, 2022 to 2032
Figure 09: North America Market Value (USD Million) Forecast, 2022 to 2032
Figure 10: North America Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 11: North America Market Value (USD Million) by Country, 2022 & 2032
Figure 12: North America Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 13: North America Market Value (USD Million) By Type, 2022 & 2032
Figure 14: North America Market Y-o-Y Growth Rate By Type, 2022 to 2032
Figure 15: North America Market Value (USD Million) By End Use Industry, 2022 & 2032
Figure 16: North America Market Y-o-Y Growth Rate By End Use Industry, 2022 to 2032
Figure 17: North America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 18: North America Market Attractiveness Analysis By Type, 2022 to 2032
Figure 19: North America Market Attractiveness Analysis By End Use Industry, 2022 to 2032
Figure 20: Latin America Market Value (USD Million) Forecast, 2022 to 2032
Figure 21: Latin America Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 22: Latin America Market Value (USD Million) by Country, 2022 & 2032
Figure 23: Latin America Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 24: Latin America Market Value (USD Million) By Type, 2022 & 2032
Figure 25: Latin America Market Y-o-Y Growth Rate By Type, 2022 to 2032
Figure 26: Latin America Market Value (USD Million) By End Use Industry, 2022 & 2032
Figure 27: Latin America Market Y-o-Y Growth Rate By End Use Industry, 2022 to 2032
Figure 28: Latin America Market Attractiveness Analysis by Country, 2022 to 2032
Figure 29: Latin America Market Attractiveness Analysis By Type, 2022 to 2032
Figure 30: Latin America Market Attractiveness Analysis By End Use Industry, 2022 to 2032
Figure 31: Europe Market Value (USD Million) Forecast, 2022 to 2032
Figure 32: Europe Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 33: Europe Market Value (USD Million) by Country, 2022 & 2032
Figure 34: Europe Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 35: Europe Market Value (USD Million) By Type, 2022 & 2032
Figure 36: Europe Market Y-o-Y Growth Rate By Type, 2022 to 2032
Figure 37: Europe Market Value (USD Million) By End Use Industry, 2022 & 2032
Figure 38: Europe Market Y-o-Y Growth Rate By End Use Industry, 2022 to 2032
Figure 39: Europe Market Attractiveness Analysis by Country, 2022 to 2032
Figure 40: Europe Market Attractiveness Analysis By Type, 2022 to 2032
Figure 41: Europe Market Attractiveness Analysis By End Use Industry, 2022 to 2032
Figure 42: APAC Market Value (USD Million) Forecast, 2022 to 2032
Figure 43: APAC Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 44: APAC Market Value (USD Million) by Country, 2022 & 2032
Figure 45: APAC Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 46: APAC Market Value (USD Million) By Type, 2022 & 2032
Figure 47: APAC Market Y-o-Y Growth Rate By Type, 2022 to 2032
Figure 48: APAC Market Value (USD Million) By End Use Industry, 2022 & 2032
Figure 49: APAC Market Y-o-Y Growth Rate By End Use Industry, 2022 to 2032
Figure 50: APAC Market Attractiveness Analysis by Country, 2022 to 2032
Figure 51: APAC Market Attractiveness Analysis By Type, 2022 to 2032
Figure 52: APAC Market Attractiveness Analysis By End Use Industry, 2022 to 2032
Figure 53: MEA Market Value (USD Million) Forecast, 2022 to 2032
Figure 54: MEA Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 55: MEA Market Value (USD Million) by Country, 2022 & 2032
Figure 56: MEA Market Y-o-Y Growth Rate by Country, 2022 to 2032
Figure 57: MEA Market Value (USD Million) By Type, 2022 & 2032
Figure 58: MEA Market Y-o-Y Growth Rate By Type, 2022 to 2032
Figure 59: MEA Market Value (USD Million) By End Use Industry, 2022 & 2032
Figure 60: MEA Market Y-o-Y Growth Rate By End Use Industry, 2022 to 2032
Figure 61: MEA Market Attractiveness Analysis by Country, 2022 to 2032
Figure 62: MEA Market Attractiveness Analysis By Type, 2022 to 2032
Figure 63: MEA Market Attractiveness Analysis By End Use Industry, 2022 to 2032
Figure 64: US Market Value, By Type, 2022 & 2032
Figure 65: US Market Value, By End Use Industry, 2022 & 2032
Figure 66: Canada Market Value, By Type, 2022 & 2032
Figure 67: Canada Market Value, By End Use Industry, 2022 & 2032
Figure 68: Brazil Market Value, By Type, 2022 & 2032
Figure 69: Brazil Market Value, By End Use Industry, 2022 & 2032
Figure 70: Mexico Market Value, By Type, 2022 & 2032
Figure 71: Mexico Market Value, By End Use Industry, 2022 & 2032
Figure 72: Germany Market Value, By Type, 2022 & 2032
Figure 73: Germany Market Value, By End Use Industry, 2022 & 2032
Figure 74: France Market Value, By Type, 2022 & 2032
Figure 75: France Market Value, By End Use Industry, 2022 & 2032
Figure 76: Italy Market Value, By Type, 2022 & 2032
Figure 77: Italy Market Value, By End Use Industry, 2022 & 2032
Figure 78: UK Market Value, By Type, 2022 & 2032
Figure 79: UK Market Value, By End Use Industry, 2022 & 2032
Figure 80: BENELUX Market Value, By Type, 2022 & 2032
Figure 81: BENELUX Market Value, By End Use Industry, 2022 & 2032
Figure 82: NORDICS Market Value, By Type, 2022 & 2032
Figure 83: NORDICS Market Value, By End Use Industry, 2022 & 2032
Figure 84: China Market Value, By Type, 2022 & 2032
Figure 85: China Market Value, By End Use Industry, 2022 & 2032
Figure 86: Japan Market Value, By Type, 2022 & 2032
Figure 87: Japan Market Value, By End Use Industry, 2022 & 2032
Figure 88: India Market Value, By Type, 2022 & 2032
Figure 89: India Market Value, By End Use Industry, 2022 & 2032
Figure 90: GCC Countries Market Value, By Type, 2022 & 2032
Figure 91: GCC Countries Market Value, By End Use Industry, 2022 & 2032
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What valuation will the global ethylene vinyl acetate market reach by 2032?
The global ethylene vinyl acetate market is set to reach a valuation of US$ 11.37 billion by the end of 2032.
What market valuation does very low density EVA enjoy?
Very low density EVA accounts for a valuation of around US$ 1.92 billion in 2022.
Which region dominates value generation in the overall EVA market?
North America holds a leading 1/3 market share in 2022.
Which end use accounts for the highest market share in 2022?
The footwear & foam segment as an application holds the highest EVA market share of approximately 23% in 2022.
What is the predicted growth rate of medium density EVA during 2022-2032?
Medium density EVA is expected to witness a CAGR of 2% during the forecast period.
Who are the prominent manufacturers of Ethylene vinyl acetate?
Key suppliers of ethylene vinyl acetate are Dow Chemical Company, ExxonMobil Corporation, Formosa Plastic Corporation, and Hanwa Solution Chemical Division Corporation.
How much market share is likely to be captured by the packaging end-use industry vertical by 2032?
The packaging end-use industry is expected to hold a market share of around 21.7% by 2032.
Ethylene Vinyl Acetate Market