The global ethylene vinyl acetate market size was US$ 10.67 billion in 2021. The global ethylene vinyl acetate market size is forecast to reach US$ 25.15 billion by 2030, growing at a compound annual growth rate (CAGR) of 10% during the forecast period from 2022 to 2030.
The copolymer of ethylene and vinyl acetate is ethylene-vinyl acetate (EVA), also called poly (ethylene-vinyl acetate) (PEVA). Vinyl acetate typically comprises 10 to 40% of vinyl acetate, with the remainder being ethylene. Three different kinds of EVA copolymer exist, and the vinyl acetate content and application differ. EVA is an elastomeric polymer that produces flexible and rubber-like materials. These materials have good clarity and gloss, low heat toughness, stress crack resistance, hot-melt adhesive waterproof properties, and UV resistance. EVA has a distinct vinegar-like odour and competes with rubber and vinyl polymer products in many electrical applications.
Factors Influencing Market Growth
Impact Analysis of COVID-19
Due to the COVID-19 pandemic, suspension of manufacturing operations, interruption of the supply chain, and a decline in demand for industrial goods affected the market greatly. In spite of this, the demand for pharmaceutical industry goods has increased due to the COVID-19 pandemic, thereby supporting the growth of the EVA market. Due to panic situations, people stock up on hygiene products across the globe, driving the market. End-use industries such as footwear and foam were affected by the pandemic. As a result, these factors have had a negative impact on global market growth.
Regional Insights
Asia-Pacific led the ethylene vinyl acetate market in 2021, with China likely to drive the market's growth. This market continues to grow due to a growing demand for adhesives and plastics in the packaging industry, along with construction activities that require these thermoplastic copolymers (EVA). Additionally, large sporting events hosted by China, people's pursuit of a healthier lifestyle, and the country's active participation in international trade within the World Trade Organization (WTO) framework are among the major growth drivers for the market in the country.
Leading Competitors
The leading prominent companies profiled in the global ethylene vinyl acetate market are:
Scope of the Report
The global ethylene vinyl acetate market segmentation focuses on Type, Application, End-Use, and Region.
Segmentation based on Type
Segmentation based on Application
Segmentation based on End-Use
Segmentation based on Region
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