Ethyl Vinyl Acetate (EV) Market Size, Share and COVID-19 Impact Analysis, By Product Type (Low Density, Medium Density, and High Density), By Application (Films, Adhesives & Sealants, Foams, Coatings, and Others), and Regional Forecast, 2024-2032

Ethyl vinyl acetate (EVA) is a resin produced by the process of co-polymerization from monomers of ethylene and vinyl acetate. Depending on the density of the product, the ethyl vinyl acetate market is segmented into low density, medium density, and high density. It is used for various applications which mainly include films, adhesives & sealants, foams, coatings, and solar cell encapsulation among others.

Increasing demand from the paper and packaging industry is the key driver of the global ethyl vinyl acetate market. It is extensively used in the industrial packaging of additives, rubber, and tire. Increasing demand for environment-friendly packaging is anticipated to boost the ethyl vinyl acetate market owing to its use in paper bag assembly, sealing of carton bags, etc. EVA is also used in the labeling of beverage bottles, labels, and bonding tags. Rising Solar Installations in different parts of the globe are also anticipated to present lucrative opportunities for the global ethyl vinyl acetate market owing to its application in solar encapsulation.

The high cost of Ethyl vinyl acetate compared to its substitute is anticipated to hinder the market growth. For instance, LDPE is one of the substitutes available for ethyl vinyl acetate. It has approximately the same properties as that ethyl vinyl acetate and comes with a relatively low cost. However, the production of value-added products with a high concentration of vinyl acetate presents lucrative opportunities to the ethyl vinyl acetate market.

Prominent players in the market are strengthening their position through the acquisition of small and regional players in the market. Such moves are helping manufacturers to broaden their product range, reach new customers, and gain access to new markets.

Impact of COVID-19 on the Ethyl Vinyl Acetate Market

The COVID-19 pandemic negatively impacted the global ethyl vinyl acetate market. Restrictions on movement in different countries disrupted the supply chain involved in the market. COVID-19 forced the temporary closure of different end-use industries resulting in decreased demand for ethylene vinyl acetate. However, by the end of 2020, with significant control over the spread of COVID-19, different end-use industries started operating at their full capacity. This has resulted in the heavy rise in demand for ethyl vinyl acetate for different applications from several end-use industries across the globe.

Key Insights

The report will cover the following key insights:

• Regulatory Scenario of Ethyl Vinyl Acetate Market.


• Key developments in the Ethyl Vinyl Acetate Market.


• Impact of COVID-19 on Ethyl Vinyl Acetate Market.

Analysis by Product Type

Depending on the product type, the ethyl vinyl acetate market is segmented into low density, medium density, and high density. Among these product types, the high-density segment holds a considerable share of the global ethyl vinyl acetate market. The larger share held by high-density ethyl vinyl acetate can be attributed to its properties such as good clarity, better surface quality, easy maintenance, easy fabrication, relatively lower weight, and hardness of the surface.  

Analysis by Application

By application, the ethyl vinyl acetate market is segmented into films, adhesives & sealants, foams, coatings, and others. Among all these segments, the segment of the film held the largest share of the ethyl vinyl acetate market in 2021 and is expected to retain its position during the forecast period. The largest share of the film segments can attribute to the high-suitability of EVA for films application owing to its properties such as extreme elasticity and toughness, excellent clarity, and gloss.

Regional Analysis

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The global ethyl vinyl acetate market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held the largest share of the global ethyl vinyl acetate market in 2021. Asia Pacific is also the fastest-growing ethyl vinyl acetate market owing to rapid industrialization coupled with steadily rising urbanization in the region. The faster growth of the ethyl vinyl acetate market in the region is primarily attributed to the heavy demand for durable plastic products from pharmaceuticals, footwear, and photovoltaic panels.

North America and Europe hold a significant share of the global ethyl vinyl acetate market. The high growth of the global ethyl vinyl acetate market in the region can be attributed to the developed industrial sector in the region. Higher demand from the pharmaceutical, footwear, electronics, and packaging industry is a significant contributor to market growth in the region. The presence of major automotive giants in the region such as BMW Group, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, etc. is expected to further boost the ethyl vinyl acetate market in the region.

Latin America, the Middle East & Africa are expected to witness significant growth due to rising industrialization in the region. Increasing demand for films and coating applications is the major factor driving the ethyl vinyl acetate market in the region.

Key Players Covered

The report will include the profiles of key players such as Braskem, Celanese Corporation, Dow, Hanwha Group, Innospec, Kemipex, LyondellBasell Industries Holdings B.V., Repsol, SK Functional Polymer, Sumitomo Chemical Co., Ltd., Tosoh Corporation and others.

Segmentation

Key Industry Developments

• In May 2022, Braskem released its first-ever lineup of sustainable 3D printing filaments for additive manufacturing. The product is expected to widen the customer base of the company by meeting the increasing demand for EVA for additive manufacturing.


• In February 2021, Braskem announced the launching of Dansko’s new line of ethylene-vinyl acetate (EVA) clogs. It will contain over 50% of carbon-negative EVA  biopolymer called ‘I’m green’ launched by Braskem.


• In October 2020, LyondellBasell Industries Holdings B.V. announced the acquisition of 50% of assets of Sasol in Louisiana. Acquired assets include 1.5 MMT ethane crackers, 0.9 MMT linear low-density, and low-density polyethylene plants, and related infrastructure at Lake Charles.