Ethylene vinyl acetate (EVA) is a versatile thermoplastic polymer that provides excellent clarity, flexibility, adhesion properties, and environmental stress crack resistance. EVA finds wide applications in hot melt adhesives, cables & wires insulation, solar panels backing sheets, and footwear among others. Key products like window & door profiles, pipes, cables, and photovoltaic modules have witnessed increased consumption of EVA resins owing to ongoing infrastructure development activities worldwide.
The global ethylene vinyl acetate market is estimated to be valued at US$ 1710.66 Mn in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
Expanding construction sector has been a major driver for growing demand of EVA globally. Rapid urbanization and housing projects in developing nations has boosted the production of PVC profiles, pipes, wires & cables which utilizes EVA as a primary raw material. For instance, according to global data, the construction industry grew by 3.5% in 2021 led by double digit growth rates in China, India and other Asian countries. infrastructure development projects in railways, roads, electricity networks requires extensive use of insulation and jacketing materials that contains EVA resins. This has significantly contributed to the consumption of EVA over the recent past.
Segment Analysis
The global ethylene vinyl acetate market size is segmented based on type and application. Based on type, the ethylene vinyl acetate segment held the largest market share in 2024 owing to its wide applications in hot melt adhesives, film and coating applications. The ethylene vinyl acetate foam segment is expected to witness the highest growth during the forecast period due to its increasing adoption in insulation and packaging applications.
Key Takeaways
The global ethylene vinyl acetate market is expected to witness high growth owing to its increasing adoption in various end-use industries such as packaging, solar panels, automotive, construction, footwear, and wires & cables. The global ethylene vinyl acetate market is estimated to be valued at US$ 1710.66 million in 2024 and is expected to exhibit a CAGR of 3.4% over the forecast period 2024-2031.
Regional analysis shows that Asia Pacific region dominated the global market in 2024 and is expected to remain the fastest growing market during the forecast period. This is attributed to the growing construction and packaging industries in China and India.
Key players operating in the ethylene vinyl acetate market are Exxon Mobil, Arkema, DuPont, Celanese, Honeywell International Inc., LyondellBasell Industries and Sipchem. Regional analysis shows that Asia Pacific region dominated the global market in 2024 and is expected to remain the fastest growing market during the forecast period. This is attributed to increasing production and sales of adhesives, packaging, films and cables fromcountries such as China, India, Japan and South Korea.
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