Ethylene Vinyl Acetate (EVA) Market Outlook - Supply and Demand Analysis 2024-2032

Ethylene Vinyl Acetate (EVA) Market

Ethylene vinyl acetate (EVA) refers to a copolymer resin made up of vinyl acetate and ethylene. Boasting excellent chemical resistance, flexibility, crack resistance, high friction coefficient, and transparency, this copolymer resin is utilised in diverse end-use industries, ranging from medical to footwear manufacturing, among others. As it is more lightweight than PVC, EVA is also used in flexible product packaging, reformation, and flexible hose, among others.

Global Supply/Demand Outlook

The global ethylene vinyl acetate (EVA) market stood at a volume of around 3,900 KT in 2023. The market is projected to grow at a CAGR of 4.70% between 2024 and 2032 to reach a volume of about 5,952.8 KT by 2032. The key factors propelling the EVA market include its growing demand from the downstream industries, including footwear, automobile components, and others. The footwear industry is the leading consumer of EVA, accounting for nearly 55% market share.

EVA’s ability to withstand chemicals, harsh environmental conditions, and oils makes it ideal for manufacturing automotive components like moulded parts and bumpers. Additionally, due to its protective properties, EVA is increasingly used to shield solar cells and enhance the efficiency and durability of solar energy systems. Besides its role in photovoltaic encapsulation, it is used as an adhesive to enclose PV modules in solar panels. In this regard, the introduction of favourable government initiatives aimed at promoting solar energy adoption is anticipated to benefit the market in the forecast period.

The global capacity of EVA was about 5,400.0 KT in 2023. The Asia Pacific holds the major share of EVA capacities, representing around 64% of the global production capacity, of which China constitutes about 35%. It is followed by North America, contributing 24% of the global capacity. The plant capacity utilization of EVA stood at 66% in 2023.

Key Market Players

Sinopec is the world's  leading producer of EVA. The company holds approximately 17.5% of the global EVA capacity. Sinopec is planning to establish its second EVA facility in Zhanjiang, Guangdong province, to manufacture 100 KT of EVA annually.

Other major manufacturers of EVA are Exxon Mobil Corporation, Formosa Plastics Corporation, Dow Chemical Company, Celanese Corporation, Shaanxi Yanchang Zhongmei Yulin Energy Chemical Co, Ltd., and Hanwha Total Petrochemical.

Key Questions Answered in the Report:

• What are the high-growth opportunities and markets for ethylene vinyl acetate (EVA) by application and region?

• What are the different types of ethylene vinyl acetate (EVA) available by region?

• Which segments and regions are projected to grow at a faster pace and why in the ethylene vinyl acetate (EVA) market?

• What is the nameplate capacity of ethylene vinyl acetate (EVA) by region from 2018 to 2032?

• How does the plant capacity utilisation of ethylene vinyl acetate (EVA) vary by region between 2018 and 2032?

• Who are the major players in the ethylene vinyl acetate (EVA) market by capacity and region?

• What major plant shutdowns and expansions have occurred in the ethylene vinyl acetate (EVA) market in the last year and the last quarter?

• What major plant shutdowns and expansions are planned in the ethylene vinyl acetate (EVA) market over the next year and quarters?

• How did export and import dynamics of ethylene vinyl acetate (EVA) vary by region in terms of value between 2018 and 2023?

• How did export and import dynamics of ethylene vinyl acetate (EVA) vary by region in terms of volume between 2018 and 2023?

• What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of ethylene vinyl acetate (EVA)?

• What are the environmental considerations and regulatory impacts affecting the ethylene vinyl acetate (EVA) market?

• What technological innovations are having an impact on the production and application of ethylene vinyl acetate (EVA)?

• What are the key trends and innovations in the ethylene vinyl acetate (EVA) market?

• What are the challenges and opportunities faced by ethylene vinyl acetate (EVA) manufacturers?

• What are the potential risks and barriers to entry for new players in the ethylene vinyl acetate (EVA) market?

• What strategic investments and expansions have major players made in the ethylene vinyl acetate (EVA) market?

• How are geopolitical factors and international trade policies affecting the global ethylene vinyl acetate (EVA) market?

• What are the price trends for ethylene vinyl acetate (EVA), and how are they expected to change?

• How does the supply chain of ethylene vinyl acetate (EVA) operate, and what are its key components?