Ethylene Vinyl Acetate Resins Market Report 2024 (Global Edition)

Global Ethylene Vinyl Acetate Resins Market Report 2024 Market Size Split by Type (Vinyl acetate-modified polyethylene (low VA density), Thermoplastic ethylene vinyl acetate (medium VA density), Ethyl...

Ethylene Vinyl Acetate Resins Market Report Description

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Ethylene Vinyl Acetate Resins Market Insights Video

Competitive Landscape of the Ethylene Vinyl Acetate Resins Market

The market for ethylene vinyl acetate (EVA) resins is fiercely competitive, with major competitors like Dow Inc., BASF SE, ExxonMobil, LyondellBasell, and Celanese Corporation. In order to sustain their market leadership and satisfy the increasing demand for EVA resins worldwide, these firms concentrate on innovation, strategic alliances, and increasing production capabilities.

Dec 2021: To bolster its offering, Celanese Corporation, a manufacturer of chemicals and specialized materials, purchased Exxon Mobil Corporation's Santoprene TPV elastomers division. (Source: https://www.celanese.com/news-and-media/2021/june/acquisition-of-exxonmobils-santoprene) Dec 2021: Materia Inc., a structural polymer firm that provides a range of solutions for wind turbine blades, electric car parts, sustainable building, and anti-corrosive coatings, was bought by Exxon Mobil Corporation. (Source: https://corporate.exxonmobil.com/news/news-releases/2021/1207_exxonmobil-acquires-materia-inc-a-high-performance-structural-polymers-company)

Top Companies Market Share in Ethylene Vinyl Acetate Resins Industry: (In no particular order of Rank)

• Sipchem
• Celanese Corporation
• Exxon Mobil Corporation
• Arkema S.A.
• Dow Inc.
• Braskem S.A.
• Lyondellbasell Industries Holding B.V.
• Al Habib Polymers Fze
• Hanwha Chemical Corporation
• Formosa Plastics Corporation
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Ethylene Vinyl Acetate Resins Market

Which Region Dominates the Ethylene Vinyl Acetate Resins Market in 2024?

According to Cognitive Market Research, The EVA resins market is anticipated to be dominated by North America in 2024. The region's substantial expenditures in renewable energy projects and sophisticated industrial infrastructure are credited with its supremacy. Installing solar panels has increased significantly, especially in the United States, where EVA resins are essential for encapsulation. The strong North American automotive and packaging sectors fuel demand for EVA because of its exceptional barrier qualities, flexibility, and durability. The region's position in the market is further supported by the existence of significant producers of EVA resin and an emphasis on creative product development. The post-pandemic economic recovery and government policies that are conducive to it have also helped North America maintain its leading position in the EVA resins industry.

Which Region is Expanding at the Fastest CAGR?

The market for ethylene vinyl acetate (EVA) resins is anticipated to develop at the quickest compound annual growth rate (CAGR) in Asia-Pacific. Growing urbanization, infrastructural development, and industry in nations like China, India, and Japan are the main causes of this quick growth. EVA resin demand is fueled by the region's expanding automotive, packaging, and footwear sectors. Substantial expenditures on renewable energy, especially solar energy, increase the application of EVA in photovoltaic panel encapsulation. The area gains from supportive government programs and policies that support renewable energy sources and sustainable materials. The fastest-growing market for EVA resins is Asia-Pacific, driven by the region's expanding middle class and rising disposable incomes.

The current report Scope analyzes Ethylene Vinyl Acetate Resins Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Ethylene Vinyl Acetate Resins

According to Cognitive Market Research, the global Ethylene vinyl acetate resins market size was estimated at USD 4125.6 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1650.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.0% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Ethylene vinyl acetate resins market with a market size of USD 1302.04 million in 2024 and is projected to grow at a CAGR of 1.8% during the forecast period. Advanced infrastructure and stringent regulations drive market growth.
• The Canada Ethylene vinyl acetate resins market had a market share of USD 198.03 million in 2024 and is projected to grow at a CAGR of 2.8% during the forecast period. Focus on sustainability and technological innovation fuels market expansion.
• The Mexico Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 2.5% during the forecast period, with a market size of USD 150.17 million in 2024.

Europe Ethylene Vinyl Acetate Resins

According to Cognitive Market Research, the global Ethylene-vinyl acetate resins market size was estimated at USD 4125.6 Million out of which Europe held the market of more than 30% of the global revenue with a market size of USD 1237.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.3% from 2024 to 2031.

• The United Kingdom Ethylene vinyl acetate resins market had a market share of USD 207.93 million in 2024 and is projected to grow at a CAGR of 3.1% during the forecast period. Stringent environmental policies and sustainability goals propel market growth.
• The France Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 1.5% during the forecast period, with a market size of USD 113.87 million in 2024.
• According to Cognitive Market Research, the Germany Ethylene vinyl acetate resins market size was valued at USD 245.06 million in 2024 and is projected to grow at a CAGR of 2.5% during the forecast period. Strong emphasis on recycling and advanced technology adoption spurs market expansion.
• The Italy ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 1.7% during the forecast period, with a market size of USD 106.44 million in 2024.
• The Russian ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 1.3% during the forecast period, with a market size of USD 191.84 million in 2024.
• The Spain ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 1.4% during the forecast period, with a market size of USD 101.49 million in 2024.
• The Luxembourg ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 2.4% during the forecast period, with a market size of USD 38.37 million in 2024.
• The Portugal ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 2.1% during the forecast period, with a market size of USD 25.99 million in 2024.
• The Greece ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 2.6% during the forecast period, with a market size of USD 14.85 million in 2024.
• The Rest of Europe ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 1.0% during the forecast period, with a market size of USD 191.84 million in 2024.

Asia Pacific Ethylene Vinyl Acetate Resins

According to Cognitive Market Research, the global ethylene vinyl acetate resins market size was estimated at USD 4125.6 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 948.89 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

• According to Cognitive Market Research, the China Ethylene vinyl acetate resins market size was valued at USD 427.00 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Rapid urbanization and industrialization fuel demand for waste management solutions.
• The Japan Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 4.3% during the forecast period, with a market size of USD 130.95 million in 2024.
• The India Ethylene vinyl acetate resins market had a market share of USD 113.87 million in 2024 and is projected to grow at a CAGR of 7.6% during the forecast period. Increasing urbanization and government initiatives drive market growth.
• The South Korea ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 94.89 million in 2024.
• The Australian ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 49.34 million in 2024.
• The South East Asia ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 6.8% during the forecast period, with a market size of USD 65.47 million in 2024.
• The Rest of the APAC ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 67.37 million in 2024.

South America Ethylene Vinyl Acetate Resins

According to Cognitive Market Research, the global Ethylene vinyl acetate resins market size was estimated at USD 4125.6 Million out of which the Latin America market of more than 5% of the global revenue with a market size of USD 206.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Ethylene vinyl acetate resins market size was valued at USD 88.29 million in 2024 and is projected to grow at a CAGR of 3.8% during the forecast period. Ethylene vinyl acetate resins sales flourish in Brazil due to the rising labor costs incentivize adoption of ASRS for labor-saving.
• Argentina's Ethylene vinyl acetate resins market had a market share of USD 34.66 million in 2024 and is projected to grow at a CAGR of 4.1% during the forecast period. Argentina's technological advancements augment the demand to drive innovation in the logistics industry.
• The Colombia ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 3.0% during the forecast period, with a market size of USD 18.36 million in 2024.
• The Peru ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 3.4% during the forecast period, with a market size of USD 16.91 million in 2024.
• The Chile ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 14.85 million in 2024.
• The Rest of LATAM ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 2.3% during the forecast period, with a market size of USD 33.21 million in 2024.

Middle East and Africa Ethylene Vinyl Acetate Resins

According to Cognitive Market Research, the global Ethylene-vinyl acetate resins market size was estimated at USD 4125.6 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 82.51 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.

• The GCC Countries Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 4.3% during the forecast period with a market size of USD 35.32 million in 2024. Infrastructure development and urbanization accelerate market growth.
• The Egypt Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 3.8% during the forecast period, with a market size of USD 8.66 million in 2024.
• The South Africa Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 13.04 million in 2024. Government initiatives and infrastructure investments propel market expansion.
• The Turkey Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 3.0% during the forecast period, with a market size of USD 7.10 million in 2024.
• The Nigeria Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 2.6% during the forecast period, with a market size of USD 8.66 million in 2024.
• The Rest of MEA Ethylene vinyl acetate resins market is projected to witness growth at a CAGR of 2.5% during the forecast period, with a market size of USD 9.74 million in 2024.

Ethylene Vinyl Acetate Resins Market Analysis

Ethylene Vinyl Acetate Resins Market Type Segment Analysis

According to Cognitive Market Research, The Thermoplastic Ethylene Vinyl Acetate (EVA) resin with medium VA density is the leading segment in the Type Outlook. This category has a sizable market share because of its adaptable qualities, which combine durability and flexibility in just the right amounts. Thermoplastic EVA resins are widely used in many different sectors, including as footwear, automotive, and packaging. Its superior adhesive qualities, processability, and resilience to external influences make it the go-to option for several applications.

The Vinyl Acetate-Modified Polyethylene (PE) with low VA density is the Type Outlook sector with the quickest rate of growth. The demand for flexible packaging solutions in sectors including food and beverage, pharmaceuticals, and personal care is driving this segment's rapid expansion. Low VA density EVA resins are perfect for thin films and stretchy packaging materials because they provide improved flexibility and clarity. The use of low VA density EVA resins is being driven by advances in package design and a trend towards sustainable packaging solutions, which are fueling the segment's growth.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Ethylene Vinyl Acetate Resins Industry. Request a Free Sample PDF!

Ethylene Vinyl Acetate Resins Market Application Segment Analysis

According to Cognitive Market Research, film is the largest category in the Ethylene Vinyl Acetate (EVA) resins market according to Application Outlook. Film applications are used in a variety of sectors, such as construction, agriculture, and packaging, where the superior barrier qualities, flexibility, and clarity of EVA are highly prized. Due to the steady demand for flexible packaging solutions brought on by the expansion of e-commerce, consumer goods packaging, and agricultural applications, the film segment continues to hold its market leadership.

Solar Cell Encapsulation is the EVA resins market sector with the quickest rate of growth. Installing solar panels has increased significantly as a result of the worldwide movement towards renewable energy. In order to encapsulate solar cells, shield them from the elements, and increase their efficiency, EVA is essential. With governments and businesses around the world continuing to fund solar energy initiatives, the market's fastest-growing area is the need for EVA resins used in solar cell encapsulation.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Ethylene Vinyl Acetate Resins End User Segment Analysis

End User Segment Analysis

According to Cognitive Market Research, the automobile industry stands out as the most significant category within the End User Outlook. The automobile sector exhibits a stable and mature market state with a steady demand for EVA resins in interior components, seals, and under-the-hood applications. The automobile industry is a major user of EVA resins and benefits from the material's strength, flexibility, and resistance to different environmental factors, which prolongs the life and functionality of automotive components.

The market for solar panels is the one that is expanding the fastest. Driven by the worldwide movement towards sustainable energy, this market is growing quickly as more solar panels are installed. Demand is driven by the essential function that EVA resins play in the encapsulation of solar panels. The photovoltaic panels market is expected to increase steadily due to further improvements in solar technology and advantageous government incentives encouraging the use of solar energy. This presents a huge opportunity for EVA resin manufacturers.

• Automotive
• Packaging & Paper
• Paints
• Coatings
• & Adhesives
• Electronics & Electrical
• Pharmaceutical
• Footwear
• Photovoltaic Panels
• Others

Author's Detail

Manoj Phagare

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals 
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.

Author's Conclusion