According to a new market report published by Lucintel, the future of the ethylene vinyl acetate market looks attractive with opportunities in the packaging, solar, agriculture, wire & cable, footwear, and automotive industries. The ethylene vinyl acetate market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $10.4 billion by 2025 with a CAGR of 3% to 5% from 2020 to 2025. The major growth drivers for this market are growth in the various end use industries, and growing demand from packaging sector, especially in food and medical applications, due to its non-toxic nature.
Browse 142 market data tables and 165 figures spread through 261 pages and in-depth TOC on “Ethylene Vinyl Acetate Market"
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In this market, solar, packaging, footwear, and agriculture are the major end use industries. Lucintel forecasts that solar will remain the largest and highest growth segment over the forecast period supported by growth in solar photovoltaic cells installation in Asia pacific region, especially in China, India, Japan, South Korea, and Taiwan.
Within the ethylene vinyl acetate market, film will remain the largest application during the forecast period due to increasing awareness about the use of solar energy, which is augmenting the demand for EVA film in photovoltaic cells. Lucintel predicts that the demand for ethylene vinyl acetate for film is likely to experience the highest growth in the forecast period due its growing demand in the areas of solar photovoltaic cells, packaging, and agriculture.
Asia Pacific is expected to remain the largest market by value and volume and 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 wire & cable. China is the largest market for ethylene vinyl acetate due to its high consumption in footwear, solar, automotive, and wire & cable supported by the high domestic demand.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing demand for EVA in the medical industry and expansion of the solar industry. E. I. du Pont de Nemours and Company, Hanwha Chemical, ExxonMobil Corporation, Formosa Plastics Corporation, LyondellBasell Industries NV, Arkema S.A., Celansese Corporation, USI Corporation, Lotte Chemical Corporation, and Versalis S.p.A. are among the major manufactures of ethylene vinyl acetate.
Lucintel, the leading global strategic consulting and market research firm, has analyzed growth opportunities in the ethylene vinyl acetate market by application, by end use industry, by density, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Ethylene Vinyl Acetate Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the ethylene vinyl acetate market by application, by end use industry, by density, and region as follows:
By Application [Volume (Million Pounds) and $M shipment analysis for 2014 – 2025]:
Film
Foam
Adhesives
Others
By End Use Industry [Volume (Million Pounds) and $M shipment analysis for 2014 – 2025]:
Packaging
Solar
Agriculture
Wire & Cable
Automotive
Footwear
Others
By Density [Volume (Million Pounds) and $M shipment analysis for 2014 – 2025]:
Very low density EVA
Low density EVA
Medium density EVA
High density EVA
By Region [Volume (Million Pounds) and $M shipment analysis for 2014 – 2025]:
North America
Europe
Asia Pacific
The Rest of the World
This 261-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/ethylene-vinyl-acetate-market.aspx or helpdesk@lucintel.com.
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