According to ChemAnalyst report, “Global Ethylene Vinyl Acetate (EVA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035”, The Ethylene Vinyl Acetate (EVA) market is likely to experience a significant increase by reaching 6000 thousand tonnes in 2035, at an expected CAGR of 5.68% during the forecast period. The increasing demand of Ethylene Vinyl Acetate (EVA) from Footwears, Adhesives, Packaging, Photovoltaic Cell, and others end-use industries, is anticipated to hike the demand for Ethylene Vinyl Acetate (EVA) market in the coming years.
Ethylene Vinyl Acetate (EVA) is a copolymer of vinyl acetate and ethylene. This is a crack-resistant resin that offers high flexibility, resistance to low temperatures as low as -70degree Celsius coupled with good strength, and resistance to chemicals. This makes it a suitable material for making footwears. It is also used to make automobile components, hose, toys, flexible packaging films, athletic goods and much more.
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The Ethylene Vinyl Acetate (EVA) market across the globe is driven by the footwear industry. In 2021, the Footwear Industry consumed more than 50% of the global EVA. The high coefficient of friction, durability, and crack resistance are the key causes for the utilization of EVA as a raw material for manufacture of footwears. Moreover, EVA also shows high bonding properties with different materials due to which it is used for manufacture of adhesives. EVA adhesives are far superior to vinyl-based adhesives and can adhere to a wide array of materials, paving way for the growth of the global Ethylene Vinyl Acetate (EVA) market in the coming years.
The Ethylene Vinyl Acetate (EVA) market is segmented based on end-use, sales channel, and region. Based on end-uses, the Ethylene Vinyl Acetate (EVA) market is segregated into Footwears, Adhesives, Packaging, Photovoltaic Cell, and others. The Footwear industry is the dominating the global Ethylene Vinyl Acetate (EVA) market consuming more than 50% of EVA in 2021 and is expected to grow at a CAGR of 5.84% by 2035. It is anticipated to remain the most significant consumer in forecast period. The adhesives industry also holds a prominent market share and is expected to grow at a CAGR of 5.95% in 2035.
Asia Pacific dominates the global Ethylene Vinyl Acetate (EVA) market, consuming about with a demand of approximately 52% of the global Ethylene Vinyl Acetate (EVA) among all other regions, and it is anticipated that it will continue to dominate the market in the coming years. Asia Pacific is leading across the globe.
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“Global Ethylene Vinyl Acetate (EVA) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035”, the significant players functional in the Ethylene Vinyl Acetate (EVA) market include ExxonMobil Corporation, Sinopec, Hanwha Total Petrochemical, Formosa Plastics Corporation, BASF-YPC, Dow, Shaanxi Yanchang Zhongmei Yulin Energy Chemical Co., Ltd, and others.
“The surging demand of Ethylene Vinyl Acetate (EVA) due to its high coefficient of friction and high durability is driving its usage to manufacture footwear which is expected to drive the Global Ethylene Vinyl Acetate (EVA) market in the forecast period until 2035. Continuous growing demand for Ethylene Vinyl Acetate (EVA) due to its excellent binding properties is responsible for its application for manufacture of adhesives which is expected to result in Ethylene Vinyl Acetate (EVA) market expansion in the coming years “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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