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Ethylene Vinyl Acetate Market Trends and Forecast

The future of the global ethylene vinyl acetate (EVA) market looks attractive with opportunities in the packaging, solar, agriculture, wire & cable, footwear, and automotive industries. The global ethylene vinyl acetate market is expected to reach an estimated $16.5 billion by 2030 with a CAGR of 5.1% from 2024 to 2030. The major drivers for this market are growing demand for EVA in food and medical packaging industries and expansion of solar photovoltaic capacity around the globe.
  • Lucintel forecasts that films will remain the largest application segment during the forecast period. It is also expected to witness the highest growth over the forecast period due to increasing awareness of the use of solar energy, which is augmenting the demand for EVA films in photovoltaic cells.
  • Lucintel forecasts that solar will remain the largest end use industry, and it is also expected to witness the highest growth over the forecast period, supported by growth in solar photovoltaic cell installation in the Asia Pacific region, especially in China, India, Japan, South Korea, and Taiwan.
  • Asia Pacific is expected to remain the largest market by value and volume, and it will experience the highest growth over the forecast period, supported by growth in the various end use industries, such as packaging, footwear, solar photovoltaic cells, and wires & cables. China is the largest market for ethylene vinyl acetate due to its high consumption in footwear, solar, automotive, and wires & cables, supported by the high domestic demand.