The global Ethylene Vinyl Acetate (EVA) Market is projected to reach USD 9.71 Billion at a CAGR of 3.5% by 2020. This growth is fuelled by the high potential from the packaging and solar power industry, increasing global demand for EVA in footwear & foams sector, and the growth in the Asia-Pacific region.
The Asia-Pacific region leads in the consumption of ethylene vinyl acetate. Its consumption in the other regions is industry specific. Film and injection molding applications share a large consumption both in the Asia-Pacific and ROW regions. The consumption of ethylene vinyl acetate in film industry is quite high in ROW and the Asia-Pacific, and is slowly penetrating into the North American market. The growth of fast developing countries in the Asia–Pacific assures investment and increase in consumption of ethylene vinyl acetate. Also, increasing purchasing power in developing countries and need for high performance products may add to its high demand in the future.
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Currently, the demand for ethylene vinyl acetate is driven by its increasing demand in film, compounding, and wire & cable applications that require material with specific properties. The properties such as softness, flexibility, low temperature toughness, stress-crack resistance, resistance to UV radiations, and so on, makes ethylene vinyl acetate a preferred material in these industries. Emerging high and medium density ethylene vinyl acetate encloses the important opportunities in the ethylene vinyl acetate market. The growing medium density ethylene vinyl acetate market mainly includes film and injection molding application. High density ethylene vinyl acetate market has improved material properties and hence is finding emerging applications in industries such as injection molding, hot melt adhesives, coating, and solar panels.
Medium Density Ethylene Vinyl Acetate (MEVA): The largest type of ethylene vinyl acetate
Medium density EVA is of great importance due to its extraordinary characteristics such as reduced tensile strength, hardness, oil & grease resistance, heat seal temperature, and dielectric properties, and greater permeability to gases & water vapor. MEVA contains 17% 25% of vinyl acetate, forming thermoplastic EVA copolymer similar to semi crystalline polyethylene and are used in various industries, majorly in packaging, footwear & foams, and agriculture. In addition, they are used as hot-melt adhesives, bitumen blends in productions of sport shoes, sandals, and various other applications. The increasing usage of MEVA in injection molding and other non-extrusion application is expected to drive the MEVA market in coming future.
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Film: The largest application of ethylene vinyl acetate
The film segment is the largest application of EVA, globally. EVA is used widely for film application in various end-use industries such as construction, pharmaceuticals, automotive, packaging, solar energy, agriculture, and others. Owing to their unique combination of properties, flexibility, toughness, stress-crack resistance, resistance to UV radiation, and excellent light stability characteristics, EVA is turning out to be a popular material preferred for film in industrial & other packaging, solar energy, agriculture, and footwear sectors. Additionally, the film segment is expected to boost further with the shift in industries from developed to developing economies, particularly from the U.S. to China. EVA film usage is increasing with the growth in these sectors individually.
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