Global Ethylene Vinyl Acetate Market Demand & Forecast Analysis, 2016-2036

Ethylene vinyl acetate (EVA) is a copolymer produced from ethylene and vinyl acetate, where vinyl acetate concentration varies from 10-40% by weight for different applications. It is an elastomeric material with good clarity, gloss, low temperature toughness and stress-crack resistance. EVA is used to produce wide range of different films, which is used in packaging and greenhouse applications. EVA can be readily moulded or extruded into soft plastic goods, including hoses and tubing to be used in hot-melt adhesives, wire and cable insulation and as a solar cell encapsulant. Packaging sector dominates the global EVA market followed by footwear applications. Other major applications include solar, automotive and agriculture industry.

Global EVA demand is driven by Asia-Pacific region over the past decade and is expected to remain dominant in the EVA consumption. The market growth for EVA to an extent is a result of demand from various end-user industrial sectors, which in turn, depends on micro as well as macro-economic factors affecting those end-user industries. The demand for EVA is likely to be more in Asian Countries in comparison to Western Europe and USA. The shifting of the footwear manufacturing and other industries to the low cost Asia-Pacific region from Europe is shifting the demand of this product more towards Asian countries like China, India, Vietnam, Thailand, Malaysia and Indonesia.

The automotive industry is on a rise in almost all the major economies. Countries like U.S., China, Germany, Mexico, India, and South Korea are known for robust automotive / automotives part manufacturing industry. Majority of the companies have been coming up with hybrid and electric versions of their cars. Most of these countries have also set-up deadlines to ensure complete penetration of these automotives, replacing their gasoline counter-parts. Broader penetration in the automotive sector with newer and novel applications and other consumer segments along with potential usage of EVA in the food and packaging Industry is expected to increase the need for EVAs. New product developments with improved functions that can substitute metals or other elastomer/ plastomers are expected to prove to be an opportunity in the long-term forecast.

Owing to variety of consumer goods manufactured in China and exported to other Asian and European Countries, the demand for packaging material in China has seen major growth in past decade. Mature markets in North America and Western Europe have witnessed marginal growths during the same period. Demand in North America and Western Europe is driven by EVA films and hot-melt adhesives used in packaging. EVAs can be replaced by low cost LLDPE but EVAs are still preferred as they are easiest polymers to process for any application. Global EVA demand is expected to grow at CAGR of 3% to 4% in the long-term forecast.