Growing demand from various end-use industries such as packaging, construction, footwear & foams, electronics, adhesives, photovoltaic panels, and pharmaceutical, is projected to drive the global market for ethylene vinyl acetate. Also, rising awareness for bio-based EVA along with the presence of significant opportunities in the emerging economies of Asia-Pacific, and the Middle East is likely to fuel the market demand. The global ethylene vinyl acetate (EVA) market is likely to expand from USD 8.78 billion in 2019 to USD 12.82 billion by 2027, at a CAGR of 5.0% over the forecast period (2020-2027) according to QuantAlign Research.

Ethylene vinyl acetate (EVA) is mostly used as hot melt adhesive, and a greater content of VA may result in higher transparency, more flexibility, and better wetability of substrates. While, EVA adhesives differ in properties, usually, they bond to the broadest range of substrates, work in one of the widest temperature ranges, and are also affordable. In addition, various significant uses of EVA include bookbinding, coatings, manufacture of textiles, artificial flowers and also as drug-delivery device in biomedical engineering applications.

Furthermore, burgeoning demand of EVA across the photovoltaic industry is anticipated to boost the market growth over the coming years. EVA is highly used as an encapsulation material for silicon cells in the manufacture of photovoltaic modules due to its excellent melt fluidity, light transmittance, and elasticity. In the developing nations of Asia-Pacific, EVA has become a popular and primary choice of manufacturers for solar cell encapsulation. However, fluctuating raw material prices coupled with the threat from substitute products may hamper the market growth. Moreover, in view of the global pandemic, uncertainties persist regarding adequate availability as well as tax regulations on exports & imports.

Browse complete report with TOC :

Global Ethylene Vinyl Acetate (EVA) Market Perspective, Demand Outlook, Trend Analysis, Intelligence & Industry Estimates To 2027 –  “https://quantalignresearch.com/global-ethylene-vinyl-acetate-market-report “

Key insights: 

• Thermoplastic Ethylene Vinyl Acetate (Medium VA density) segment dominated the global market in 2019 and is expected to witness a healthy CAGR during 2020 to 2027
• Foams segment is projected to account for a significant share of the global market by 2027
• Packaging segment held the major share of the market in 2019, while witnessing a significant CAGR during 2020 – 2027
• Asia-Pacific held the majority share of the global market in 2019, and the trend is likely to continue over the forecast period

Key players operating in the market include BASF SE; Merck KgaA; DowDuPont; Exxon Mobil Corporation; Innospec Inc.; The 3M Company; LyondellBasell Industries Holdings B.V.; Hanwha Solutions/Chemical Corporation; Formosa Plastics Corporation; Huntsman International LLC; & Braskem; among others.