Global Ethylene Vinyl Acetate Copolymer Market by End-use Industry (Medical & Healthcare, Consumer Goods, Automotive), by Application (Film, PV Cells) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global ethylene vinyl copolymer market was valued at USD 7.9 Billion in 2019. It is projected to grow at a compound annual rate (CAGR), of 3.8% between 2020 and 2027. The market is expected to grow due to increased demand for multipurpose adhesives, sealants and coatings for a variety of applications such as flexible hoses, footwear components and automobile bumpers. The demand for many medical and healthcare products such as temperature guns, packaging, etc. has increased amid the global COVID-19 pandemic. This is driving demand for ethylene vinyl Acetate Copolymer (EVA), copolymer in the medical and healthcare packaging end-use sector.

The fastest CAGR is expected to be in the consumer goods segment between 2020 and 2027. Over the forecast period, the demand for EVA copolymer for the manufacture of photovoltaic cell panels will be driven by the growth of the North American and Asia Pacific solar industries. Market growth can also be attributed a rise in foreign investment in countries such as India, China and Brazil in the renewable energy sector. In order to combat the COVID-19 pandemic, there is a growing need for pharmaceuticals and packaging products. This will drive market growth for the forecast period.

Type Insights

The vinyl acetate modified polyethylene segment dominated the market, accounting for over 55% of global revenue in 2019. The product's low molecular weight makes it ideal for industrial packaging and packaging materials. Vinyl acetate modified polyethylene is also known as EVA copolymer. It contains a low amount of vinyl acetate (up to 4%) It is used primarily to make foam blister packs, insulation foams and football shoe soles. Its ability to provide moisture and gas barrier makes it highly sought after in many applications.

The ethylene-vinyl-acetate rubber-type segment is widely employed in the production tough and durable, vulcanized rubber. This rubber is used in shoes soles and tires depending on the hardness. The demand for healthcare products such as yoga mats and home gym equipment has increased in the wake of the global COVID-19 pandemic. This will increase the demand for ethylene vinyl acetate rubber during the forecast period.

Thermoplastic Ethylene-vinyl Acetate is expected to be the fastest-growing segment during the forecast period. EVA copolymer is made up of a small amount of vinyl acetate, typically between 4 and 30%. It's also known as thermoplastic EVA-vinyl Acetate. It is used primarily in the manufacture of hot melt adhesives that are used in woodwork, packaging, and other applications.

Application Insights

Photovoltaic cells accounted for 34% of global revenue in 2019, and led the market. This large share can be attributed to the growing demand for clean energy in both private and public infrastructures. From 2019 to 2024, the energy generated by photovoltaic cell is expected to rise 50%. These factors will drive product demand for photovoltaic cells applications during the forecast period.

Ethylene-vinyl alcohol acetate copolymer film have excellent properties such as heat resistance and humidity resistance, cold resistance and tensile strength. EVA films can be used to make bags, bottles sleeves, labels, adhesive tape backing and intravenous bags. EVA films can also be used to encapsulate photovoltaic cells.

EVA foam has properties such as flexibility, resilience, quick recovery from compressions and absorbs colors. It is suitable for many end-use industries such as automotive, medical and healthcare, building, packaging and electronics. EVA foam can also be used as a cold-flow enhancer in diesel fuel, high efficiency particulate air filter, or nicotine transdermal patches. Over the forecast period, the market will be driven by the increasing use of foams.

Industry insights for the end-use industry

The EVA copolymer market was led by the consumer goods industry, which accounted for over 35% of global revenue in 2019. This is due to consumers spending more on household goods and their disposable income. As a step towards convenience living, manufacturers in this industry are continually updating their product range to include functional, attractive, simple, and convenient items for customers. The main sectors that drive demand for EVA copolymer are personal hygiene products such as toothbrushes and toothpastes, housewares, cosmetics, and convenience goods.

The automotive & transport application segment is expected to grow over the next few years due to the increasing use of EVA copolymer as metal replacement parts in automotive components and a concurrent rise in production of heavy-duty and electric passenger cars, especially in Asia and Central & South America. Standardization of emission norms, and regulations regarding vehicle weight are expected to help the segment grow in the future.

This product can also be used to manufacture medical devices and pharmaceuticals, as it offers better optical clarity and biocompatibility. EVA copolymer can be used to manufacture drug delivery systems, and low temperature (-150 - -196degC), storage solutions for medical research & developmental activities. Asia Pacific will see tremendous growth due to rising healthcare and medical expenditures in countries like China, India, Japan. The industry will also see growth due to the presence of many medical & pharmaceutical equipment manufacturers and those involved in research & developments.

Regional Insights

Asia Pacific was the dominant market, accounting for more than 44% of global revenue in 2019. The Asia Pacific medical and healthcare industry is expected grow due to rising COVID-19 positive rates. This is expected to increase the demand for medical equipment and specialized medical-grade containers.

The packaging industry will also experience significant growth due to the increasing demand for consumer goods as well as delicate and smart electronics products such shoes, accessories, laptops, smartphones, and other devices. This will drive demand for EVA copolymer during the forecast period.

Europe is second in terms of revenue. Due to combined economic effects of the pandemic, the EVA copolymer market has seen a rise in the demand for major end-use industries such as packaging, healthcare and automotive. The market is expected to grow in the near future due to rising demand for consumer goods such as burgers, laptops, and other products, along with the expansion of the medical and healthcare industries in France, Germany, the U.K. and Italy.

As the COVID-19 pandemic has affected cross-border trade, the market in Middle East and Africa will experience slow growth. The rising demand for photovoltaic cells is driving the market. This region has the highest average annual solar irradiance at 1753 kilowatts per square meter.

Market Share Insights & Key Companies

The market is competitive on the basis product quality and the technology used to produce EVA copolymer. To gain greater market share, major players look for opportunities to vertically integrate across all value chains, expand their manufacturing facilities, improve infrastructural development, or make R&D investments. These initiatives allow them to meet the growing global demand, increase their sales and operations planning, create innovative products & technology, lower production costs, and increase the customer base. Due to the large number of global manufacturers, the global market is highly fragmented. The market leader in ethylene vinyl acetate copolymer is:

• Exxon Mobil Corp.

• Dow Inc.

• LyondellBasell Industries Holdings B.V.

• Eastman Chemical Company

• Arkema

• Celanese Corp.

• Total

• LG Chem

• Braskem

• Dairen Chemical Corp.

• Lotte Chemical Corp.

Up Market Research published a new report titled “Ethylene Vinyl Acetate Copolymer Market research report which is segmented by End-use Industry (Medical & Healthcare, Consumer Goods, Automotive), by Application (Film, PV Cells), By Players/Companies Eastman Chemical Company, Braskem, Arkema, Celanese Corp, LG Chem, Dow Inc, Exxon Mobil Corp, Dairen Chemical Corp, LyondellBasell Industries Holdings BV, Lotte Chemical Corp, Total”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Ethylene Vinyl Acetate Copolymer Market Report Segments:

The market is segmented by End-use Industry (Medical & Healthcare, Consumer Goods, Automotive), by Application (Film, PV Cells).

Ethylene Vinyl Acetate Copolymer Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Ethylene Vinyl Acetate Copolymer Market

Overview of the regional outlook of the Ethylene Vinyl Acetate Copolymer Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Ethylene Vinyl Acetate Copolymer Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Ethylene Vinyl Acetate Copolymer Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Medical & Healthcare

                2. Consumer Goods

                3. Automotive

                1. Film

                2. PV Cells

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Ethylene Vinyl Acetate Copolymer Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Ethylene Vinyl Acetate Copolymer Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.