EVA Resin Market:
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Global EVA Resin Market is valued approximately USD 7.87 Billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.30% over the forecast period 2019-2026. Ethylene vinyl acetate (EVA) resins are produced by using ethylene and vinyl acetate. It is used in production of packaging film, foam, wire & cable, solar cell encapsulation, and hot melt adhesives, and are composed of 18–40% vinyl acetate. EVA with low melt index (MI) provide high strength, superior viscosity, and hot tack (relative melting and bonding strength) as compared to its high melt index counterparts. EVA resins are widely used in the packaging and paper industries, owing to their properties such as enhanced flexibility and low sealing temperature. Therefore, the rapid growth in packaging and paper industries across the globe drive the growth of market over the forecast years. For instance: as per Statista, the Dog & cat food packaging, beverage packaging, Food packaging, Home care packaging industry is expected to grow with 12%, 11%, 11%, 7% simultaneously across the globe in time duration between 2017-2021. In addition, Significant Growth in Solar Power Industry, and prominent application of EVA resin in it is expected to drive the market growth over the forecast years. Whereas, the global rise in incidence of COVID-19 globally may affect adversely to the market growth due to the impose of lockdown in various economies across the globe. Also, Intervention of Substitute Materials of EVA resin is expected to hamper the growth of market over the forecast years.
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The regional analysis of global EVA Resin market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rapid growth in packaging industries across the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as huge economic growth in the region along with Significant Growth in Solar Power Industry would create lucrative growth prospects for the EVA Resin market across Asia-Pacific region.
Major market player included in this report are:
Exxon Mobil Corporation
Formosa Plastics Corporation
Hanwha Chemical Corporation
LyondellBasell Industries Holding B.V.
Lotte Chemical Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below:
Vinyl acetate-modified polyethylene (low VA density)
Thermoplastic ethylene vinyl acetate (medium VA density)
Ethylene vinyl acetate rubber (high VA density)
Hot Melt Adhesives
Wire & Cables
Packaging & Paper
Paints, Coatings and Adhesives
Electronics & Electrical
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global EVA Resin Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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