The global Poly Ethylene Vinyl Acetate market is forecast to reach USD 13.85 Billion by 2028, according to a new report by Reports and Data. Ethylene-vinyl acetate is a copolymer of vinyl acetate and ethylene. The chemical is an extremely elastic and tough thermoplastic that consists of excellent clarity and gloss and with very little odor.
Ethylene-vinyl acetate has many attractive properties, including low cost, good flex-crack and puncture resistance, excellent adhesion for many polar and nonporous substrates, and good heat-sealing and hot-tack. Ethylene-vinyl acetate are used in extrusion film processes for applications, including surface protection, packaging, and greenhouse covers, as well as in photovoltaic cell encapsulation.
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Key participants include Exxon Mobil Corporation, BASF SE, E.I. Du Pont De Nemours Co., Celanese Corporation, Clariant AG, Sipchem, Arkema S.A., Innospec Inc., Lyondellbasell Industries NV, and Hanwha Chemical, among others.
The growing focus of global economies to invest in clean power is expected to increase investments and drive the global Poly Ethylene Vinyl Acetate market in the field of solar energy. Technological advancements such as solar cell encapsulation is one major opportunity in the ethylene-vinyl acetate market.
The growth in population and increase in the disposable income of the people in countries such as China, Japan, and India are expected to propel the demand for packaging in the Asia Pacific region, which in turn will propel the demand for ethylene-vinyl acetate market. The growth in the construction sector is fueling the demand for adhesives in India. The government's plan for 'Housing for All by 2022' is providing ample growth opportunity for the market.
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Further key findings from the report suggest
- The demand of the global Poly Ethylene Vinyl Acetate market is rising due to the growing demand for the copolymer in flexible packaging applications in various end-use industries globally.
- Excellent toughness, good stress-crack resistance, and high tensile elongation are some properties of the market product that make it very popular among manufacturers. It has emerged as a high-performing and cost-effective packaging material in several industries.
- Ethylene-vinyl acetate is commonly known as expanded rubber or foam rubber. It is generally used as a shock absorber in sports shoes. Ethylene-vinyl acetate foam is used as padding in equipment for different kinds of sports such as bicycle saddles, ski boots, boxing hockey, pads, and mixed martial arts gloves and helmets, wakeboard boots, fishing reel handles, and fishing rods.
- The footwear segment dominated the market in 2020. Ethylene-vinyl acetate resins are used in the footwear industry as they are lightweight; they can resist compression and are also available in different colors. They are among the most widely used material for shoes. It is also used for the manufacture of outsoles, sock liners, and sometimes even the entire footwear.
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For the purpose of this report, Reports and Data have segmented into the global Poly Ethylene Vinyl Acetate market on the basis of type, application, end-user, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- Very Low-Density Poly Ethylene Vinyl Acetate
- Low-Density Poly Ethylene Vinyl Acetate
- Medium Density Poly Ethylene Vinyl Acetate
- High-Density Poly Ethylene Vinyl Acetate
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- Foam
- Extrusion Coating
- Film
- Compounding and Wire Cable
- Solar cell encapsulation
- Hot melt adhesives
End-User Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- Automotive
- Paints, Coatings, and Adhesives
- Packaging and Paper
- Pharmaceutical
- Photovoltaic Panels
- Footwear
- Electronic and Electrical
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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