Ethylene Vinyl Acetate (EVA) Market Size (2024 - 2029)

The ethylene vinyl acetate market is projected to experience growth over the forecast period, driven by increasing demand from the packaging and agricultural sectors. Despite challenges posed by the COVID-19 pandemic, which led to a temporary decline due to project stoppages and production halts, the market has shown recovery, particularly in applications such as films, adhesives, and foams. The market's expansion is expected to be supported by opportunities in photovoltaic solar cell encapsulants, although the threat of substitutes may pose challenges. The Asia-Pacific region is anticipated to lead in market growth, benefiting from the region's economic development and rising consumption.

Home Market Analysis Chemicals & Materials Research Plastics, Polymers, and Elastomers Research Resins Research Ethylene Vinyl Acetate (EVA) Research Ethylene Vinyl Acetate (EVA) Market Market Size

Market Size of Ethylene Vinyl Acetate (EVA) Industry

Ethylene Vinyl Acetate (EVA) Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 5.02 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Ethylene Vinyl Acetate (EVA) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Ethylene Vinyl Acetate (EVA) Market Analysis

The Ethylene Vinyl Acetate Market size is estimated at 4.62 Million tons in 2024, and is expected to reach 5.90 Million tons by 2029, growing at a CAGR of 5.02% during the forecast period (2024-2029).

  • The COVID-19 pandemic severely impacted market growth in various sectors. Stoppage or slowdown of projects, movement restrictions, production halts, and labor shortages to contain the pandemic have led to a decline in the ethylene vinyl acetate market growth. However, it recovered significantly in 2021, owing to rising consumption from various applications, including films, adhesives, and foams.
  • In the short term, the increasing demand for ethylene-vinyl acetate (EVA) from the packaging industry and agricultural applications is expected to drive the market.
  • The increasing threat of substitutes is expected to hinder the market's growth.
  • The increasing demand for photovoltaic (PV) solar cell encapsulants is expected to offer growth opportunities for the market between 2024 and 2029.
  • Asia-Pacific is expected to dominate the market and is likely to witness the highest CAGR from 2024 to 2029, as the economies in the region are growing, driving the consumption of films, adhesives, and foams.

Ethylene Vinyl Acetate (EVA) Industry Segmentation

Ethylene-vinyl acetate is the thermoplastic resin produced by vinyl acetate monomer and ethylene co-polymerization process in a high-pressure reactor. The major applications of EVA include packaging, plastic goods industries, footwear, pipes, wire and cable insulation, toys, photovoltaic encapsulation, corks, medical packaging, hot melt adhesives, and glass lamination.

The ethylene-vinyl acetate (EVA) market is segmented by grade, application, and geography. By grade, the market is segmented into low density, medium density, and high density. By application, the market is segmented into films, adhesives, foams, solar cell encapsulation, and other applications. The report covers the market sizes and forecasts for the global ethylene vinyl acetate (EVA) market in 15 countries across major regions. The report offers the market size in terms of volume (tons) for all the abovementioned segments.

Grade
Low Density
Medium Density
High Density
Application
Films
Adhesives
Foams
Solar Cell Encapsulation
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of the Middle East and Africa
Need A Different Region Or Segment?
Customize Now

Ethylene Vinyl Acetate (EVA) Market Size Summary

The ethylene vinyl acetate (EVA) market is poised for significant growth over the forecast period, driven by increasing demand from the packaging and agricultural sectors. The market experienced a downturn due to the COVID-19 pandemic, which caused project delays, production halts, and labor shortages. However, it rebounded in 2021 as consumption surged in applications such as films, adhesives, and foams. The market's expansion is further supported by the growing demand for photovoltaic solar cell encapsulants, which presents new opportunities. Despite the potential growth, the market faces challenges from the rising threat of substitutes, particularly in food packaging, where metallocene PE is gaining traction due to its superior properties. The Asia-Pacific region, led by China and India, is expected to dominate the market, benefiting from the robust growth of the packaging and adhesive industries in these countries.

EVA films are versatile and widely used in various applications, including packaging, solar panels, and sports goods, due to their advantageous properties such as high tensile strength, excellent transparency, and UV protection. The films are produced by copolymerizing EVA with other resins to achieve desired characteristics, making them suitable for a range of uses from frozen food packaging to photovoltaic encapsulation. The market is characterized by significant investments in production expansion by key manufacturers, such as SVECK in China, to meet the rising demand. The Chinese and Indian packaging industries are projected to grow substantially, further driving the EVA market. Additionally, the footwear and leather sectors in these regions are expected to contribute to market growth, supported by government initiatives and trade agreements. The global EVA market remains partially consolidated, with major players like Exxon Mobil Corporation, Hanwha Solutions, and Dow holding significant market shares and continuing to expand their production capacities.

Explore More

Ethylene Vinyl Acetate (EVA) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand from the Packaging Industry

      2. 1.1.2 Increasing Demand from Agricultural Applications

    2. 1.2 Restraints

      1. 1.2.1 Increasing Threat of Substitutes

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Grade

      1. 2.1.1 Low Density

      2. 2.1.2 Medium Density

      3. 2.1.3 High Density

    2. 2.2 Application

      1. 2.2.1 Films

      2. 2.2.2 Adhesives

      3. 2.2.3 Foams

      4. 2.2.4 Solar Cell Encapsulation

      5. 2.2.5 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of the Middle East and Africa

Ethylene Vinyl Acetate (EVA) Market Size FAQs

The Ethylene Vinyl Acetate Market size is expected to reach 4.62 million tons in 2024 and grow at a CAGR of 5.02% to reach 5.90 million tons by 2029.

In 2024, the Ethylene Vinyl Acetate Market size is expected to reach 4.62 million tons.

Ethylene Vinyl Acetate (EVA) Market Report Snapshots

Ethylene Vinyl Acetate Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)