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The global ethylene vinyl acetate (EVA) resins market was valued at $6,052 million in 2015, and is expected to grow at a CAGR of 7.5% from 2016 to 2022 to reach $10,050 million. Ethylene vinyl acetate (EVA) resins are flexible products compatible with a wide range of polymers and additives. Ethylene and vinyl acetate are the primary raw materials used to manufacture these resins. EVA resins with 18–40% vinyl acetate concentration are used to produce hot melt adhesives. The rate of recrystallization and melt viscosity depends on the choice of EVA resin used for adhesive formulations. EVA with low melt index (MI) offers high strength, viscosity, and hot tack, while high melt index counterparts provide low viscosity and high polymer content.
The global EVA resins market is driven by the growth of the packaging industry, rise in demand among various end-user industries, such as agriculture and photovoltaic panels. Asia-Pacific is expected to witness substantial growth in the global market, owing to rise in disposable income and increase in population in emerging economies such as China and India. Fluctuation in prices of raw materials and increase in competition from substitutes, including linear low-density polyethylene (LLDPE), are expected to hamper the market growth in the next few years. Newly installed photovoltaic facilities and increase in the number of upcoming solar projects in emerging markets, such as China and India, are expected to provide lucrative potential for market growth.
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Ethylene Vinyl Acetate Resins Market Segments:
Ethylene vinyl acetate resins market, By Type
Vinyl Acetate-modified Polyethylene (Low VA Density)
Thermoplastic Ethylene Vinyl Acetate (Medium VA Density)
Ethylene Vinyl Acetate Rubber (High VA Density)
Ethylene vinyl acetate resins market, By Application
Hot Melt Adhesives
Wire & Cable
Solar Cell Encapsulation
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Ethylene vinyl acetate resins market, By End User
Packaging & Paper
Paints, Coatings, & Adhesives
Electronics & Electrical
Asia-Pacific accounted for the major share in 2018 in the global ethylene vinyl acetate resins market, owing to increase in consumption of these resins for electrical & electronics and packaging sectors. In addition, the market has witnessed different collaborations, partnerships, and joint ventures. Moreover, China, Japan, and South Korea are the leaders in the electronics sector, thereby fueling the demand for EVA resins. In addition, increase in need for EVA resins in industries such as electrical & electronics in the Asia-Pacific region is expected to offer growth to the Ethylene vinyl acetate resins market trends.
The major key players operating in the ethylene vinyl acetate resin industry include Arkema S.A., Braskem S.A., Celanese Corporation, DOW Inc., Exxon Mobil Corporation, Formosa Plastics Corporation, Hanwha Chemical Co, Ltd., Lyondell Basell Industries N.V., Sinopec Corporation, and Lotte Chemical Corporation. Other players operating in this market include Infineum International Ltd., Clariant AG, Innospec Inc., Hoehn Plastics, Inc., and Honam Petrochemical Corporation. These major key players are adopting different strategies such as acquisition, business expansion, and collaboration to stay competitive in the global market.
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