February 13, 2025
Ethylene Vinyl Acetate Market

Rapid Urbanization Is Anticipated To Open Up New Avenue For The Ethylene Vinyl Acetate Market

The Ethylene Vinyl Acetate Market is estimated to be valued at US$ 1484.94 Mn or Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Ethylene Vinyl Acetate (EVA) is a copolymer of ethylene and vinyl acetate produced by high pressure polymerization. It has high clarity, flexibility, low-temperature sealing characteristics and is inert to many chemicals and solvents. EVA finds extensive use in solar cell encapsulants, hot melt adhesives, sealants and coatings due to its versatile properties. It is also used in wire and cable compounds, footwear, toys, and in medical products like catheters and intravenous bags.

The global Ethylene Vinyl Acetate Market is estimated to be valued at US$ 1,484.94 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising demand from construction industry: Growing construction activities around the world due to rapid urbanization is a key driver propelling the demand for EVA. It is used to produce insulated wires and cables that are increasingly used in construction of buildings and infrastructure development.
Increasing solar PV installations: Manufacturers are increasingly using EVA as a major raw material for solar PV modules due to its excellent damping and weather-resistant properties. The rising installation of solar PV panels globally to meet the growing demand for renewable energy is augmenting the consumption of EVA.
Segment Analysis
The ethylene vinyl acetate market can be segmented by production process, application, end use industry and region. By production process, the suspension polymerization process dominates owing to its ability to produce a wide range of polymers with different vinyl acetate contents.

PEST Analysis
Political: Governments across regions are supporting the growth of green buildings and infrastructure which will drive the demand for EVA used in solar encapsulants.
Economic: The growing construction and automotive industries along with rising disposable incomes are fueling the growth of the global EVA market.
Social: Rising environmental concerns are propelling the demand for sustainable materials like EVA used in solar panels and wires & cables insulation.
Technological: Advancements in polymerization technologies are helping manufacturers develop innovative EVAs with enhanced properties for new applications.

Key Takeaways
The Global Ethylene Vinyl Acetate Market Growth is expected to reach US$ 1,484.94 Mn by 2030, expanding at a CAGR of 4.8% during the forecast period. Growth in end-use industries such as packaging, solar, and automotive is driving the market.

Regionally, Asia Pacific dominated the global market in 2023 and is estimated to maintain its lead till 2030 supported by rapid industrialization and infrastructure growth in China, India, Indonesia, and Vietnam.

Key players operating in the ethylene vinyl acetate market are Arlanxeo, Asia Polymer Corporation, Benson Polymers Limited, Braskem, Celanese Corporation, Clariant AG, Dow, ExxonMobil Corporation, Hanwha, Solutions/Chemical Corporation, Innospec Inc., LyondellBasell Industries Holdings BV, Repsol, Sipchem, SK Global, Sumitomo Chemical Co. Ltd, and Tosoh Corporation. These players are focusing on developing bio-based and recycled EVAs to capitalize on the sustainability trend.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →