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Ethylene Vinyl Acetate Companies

Ethylene vinyl acetate companies are key players in the polymer industry, manufacturing EVA copolymers widely used in packaging, footwear, and solar cell encapsulation. Known for their flexibility, impact resistance, and thermal stability, EVA materials contribute to the production of high-performance products. These companies focus on delivering innovative solutions that meet the evolving needs of industries requiring versatile and reliable polymer materials.

Ethylene Vinyl Acetate Key Companies


The EVA market growth is driven by diverse applications across industries like footwear, packaging, agriculture, and photovoltaics. But within this thriving market lies a complex competitive landscape, where established giants and emerging players battle for dominance. Let's delve into the strategies, market share factors, industry news, and recent developments shaping this dynamic scene.


Strategies Shaping the Game:




  • Product Differentiation:¬†Leading players like DowDuPont, 3M, and Wacker Chemie are investing in R&D to develop specialty EVA grades with enhanced properties, targeting niche applications and premium markets. For example, DowDuPont's TERGITO E series offers high clarity and low odor, ideal for food packaging.


  • Vertical Integration:¬†Players like Huntsman and Sinopec are integrating backward into upstream ethylene production, securing raw material supply and cost advantages. This strategy offers greater control over the value chain and profitability.


  • Regional Expansion:¬†Asia-Pacific (APAC) is the largest and fastest-growing EVA market, driven by soaring demand from China and India. Companies are strategically expanding production capacities in the region to cater to this burgeoning demand. For instance, Wacker Chemie recently announced a new EVA plant in China.


  • Sustainability Focus:¬†Eco-conscious consumers and stricter regulations are pushing for sustainable alternatives. Companies are responding with bio-based EVA grades and innovative recycling initiatives. Wacker Chemie's GENIOL¬ģ range of bio-based EVA is gaining traction in the market.


Factors Influencing Market Share:




  • Brand Recognition:¬†Established brands like 3M and Henkel hold significant sway due to their reputation for quality and reliability. Newer players need to invest heavily in brand building to compete effectively.


  • Cost Competitiveness:¬†Price remains a crucial factor, especially in emerging markets. Players with efficient production processes and access to low-cost raw materials have an advantage.


  • Distribution Network:¬†Strong distribution channels and partnerships with key players in end-use industries are essential for reaching target customers.


  • Product Portfolio:¬†Offering a diverse range of EVA grades catering to different applications broadens appeal and increases market share.


List of Key Players in the Ethylene Vinyl Acetate Market




  • Celanese Corporation (US)




  • Exxon Mobil Corporation¬†(US)




  • DowDuPont (US)




  • Innospec (US)




  • Arkema SA (France)




  • BASF SE (Germany)




  • Clariant AG (Switzerland)




  • Infineum International Limited




  • United Plastic Components Inc.




  • Porex Corporation (US)




  • USI Corporation (Taiwan)




Recent Developments:


August 2023: Price Decline: EVA prices fell by 3.5% to USD 2500 per tonne, primarily due to weakening demand and low-cost support from the upstream Vinyl Acetate Monomer market. 


September 2023: Challenges in Europe: The German EVA market faced difficulties due to weak demand and high energy prices, leading to a capacity utilization drop to 74%. This level was similar to the 2020 Covid-19 shutdown. 


 


 October 2023: Price Fluctuations: EVA prices in Asia fluctuated due to mixed market sentiment. While pre-holiday restocking in ethylene tightened supply, the bleak demand outlook kept prices in check.


November 2023: Mixed outlook for Asia: Pre-holiday restocking helps stabilize EVA prices in some parts of Asia, while others continue to see decline due to cost pressures and weak demand outlook.


December 2023: Long-term growth potential: Despite short-term challenges, the EVA market is expected to see significant growth in the coming years driven by increasing demand for adhesives, foams, films, and other applications.

Global Ethylene Vinyl Acetate Market Overview


The ethylene vinyl acetate market size was valued at USD 1.1 billion in 2022. The ethylene vinyl acetate industry is projected to grow from USD 1.14 billion in 2023 to USD 1.57 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.00% during the forecast period (2023 - 2032). The rising demand for ethylene vinyl acetate (EVA) from the packaging industry and the growing usage in the solar industry are the key market drivers expanding the market growth.Ethylene Vinyl Acetate Market OverviewSource: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Ethylene Vinyl Acetate Market Trends




  • The growing shift towards solar energy and rapid technological advancements drive market growth.




Market CAGR for ethylene vinyl acetate is driven by increased demand for adhesives in food packaging applications and the growing adoption of solar power generation. The solar power industry is witnessing rapid growth worldwide owing to the growing environmental concern and rising demand for renewable energy sources. Further, the thriving construction sector, and growing demand for automotive and furniture, as well as paints and coatings, are the major drivers of the vinyl acetate industry. In emerging economies, including India and China, there has been a rise in consumer disposable incomes that is further aiding the demand for automobiles. This, in turn, is fueling the demand for ethylene vinyl acetate resins, widely used in producing automobile bumpers and molded parts. Rapid technological advancements and expanding R&D activities are expected to affect the vinyl acetate industry's expansion positively. For instance, introducing bio-based ethylene vinyl acetate materials will provide lucrative opportunities for the expansion of the industry over the forecast period.


Additionally, the rise in demand from the packaging industry is contributing to the growth of the ethylene vinyl acetate market. The increase in the demand for ethylene vinyl acetate is being witnessed in the packaging sector owing to more online purchasing during the COVID-19 pandemic. Ethylene vinyl acetate is the most dominant polymer in hot melt adhesives for packaging applications. Packaging in ethylene vinyl acetate has good water resistance, easy processing, corrosion resistance, anti-vibration, and thermal insulation. They are reusable, strong, and delightful in appearance, and they are famous mostly among consumers. For instance, As per Smithers, a US-based provider of testing, consulting, information, and compliance services, packaging demand globally reached $917.1 billion in 2019 and is projected to reach $1.05 trillion by 2024. The expansion in demand for packaging materials and the positive growth of the packaging industry during the forecast period will further propel the growth of the ethylene vinyl acetate market.


Increasing demand from the Solar PV industry is again projected to foster market growth. It acts as an encapsulant for solar cells or modules. It is a copolymer film that acts as an important sealant for photovoltaic solar modules to safeguard reliability and performance. It is the most common encapsulation used is cross-linkable ethylene vinyl acetate. As per the International Energy Agency (IEA), in 2019, PV developers worldwide installed 114.9 Giga Watts (GW) of new solar power, representing a 12% growth from 2018. In terms of the total new solar capacity installed, China represented the largest PV market for the third year in a row in 2019, with a total installed solar capacity of 30.1 GW, followed by the United States with 13.3 GW and Japan with 7.7 GW driving the ethylene vinyl acetate market revenue.


Ethylene Vinyl Acetate Market Segment Insights


Ethylene Vinyl Acetate Type Insights


The ethylene vinyl acetate market segmentation, based on type, includes low-density EVA, medium-density EVA, and high-density EVA. The high-density EVA segment dominated the market, accounting for major market revenue over the forecast period. This is due to its advantages: clarity, good surface quality, range of colors, easy maintenance, surface hardness, lightweight, and easy fabrication.


Figure 1: Ethylene Vinyl Acetate Market, by Type, 2022 & 2032 (USD billion)


Ethylene Vinyl Acetate Market, by Type


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Ethylene Vinyl Acetate Application Insights


The ethylene vinyl acetate market segmentation, based on application, includes foaming, film extrusion, solar cell encapsulation, injection molding, hot melt adhesives, coatings, wires & cables, and others. The foaming category generated the most income. Ethylene vinyl acetate foam is widely utilized in the development of battle armor, as it is firmer and more robust when compared with polyurethane foam.


Ethylene Vinyl Acetate End-User Insights


The ethylene vinyl acetate market segmentation, based on end-user, includes packaging, renewable energy, adhesive & sealants, footwear, construction, electrical & electronics, automotive, pharmaceuticals, agriculture, and others. The packaging category generated the most income. Ethylene vinyl acetate resin is utilized owing to its properties, such as resistance to cracks, enhanced flexibility, low sealing temperature, superior toughness, and puncture resistance.


Ethylene Vinyl Acetate Regional Insights


By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American ethylene vinyl acetate market will dominate this market due to rapid urbanization and industrialization, and the growing construction activities in the region. Moreover, the Canada ethylene vinyl acetate market held the largest market share, and the US ethylene vinyl acetate market was the fastest-growing market in the North America region.


Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure 2: ETHYLENE VINYL ACETATE MARKET SHARE BY REGION 2022 (%) 


ETHYLENE VINYL ACETATE MARKET SHARE BY REGION


Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Europe ethylene vinyl acetate market accounts for the second-largest market share owing to increasing demand for consumer goods and delicate & smart electronics products, such as shoes, laptops, mobile phones & accessories, etc. Further, the German ethylene vinyl acetate market held the largest market share, and the UK ethylene vinyl acetate market was the fastest-growing market in the European region.


The Asia-Pacific ethylene vinyl acetate market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to expanding awareness of a healthy lifestyle and nutrition and rising per capita disposable income. Moreover, China ethylene vinyl acetate market held the largest market share, and the India ethylene vinyl acetate market was the fastest-growing market in the Asia-Pacific region.


Ethylene Vinyl Acetate Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development to expand their product lines, which will help the ethylene vinyl acetate market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the ethylene vinyl acetate industry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the ethylene vinyl acetate industry to benefit clients and increase the market sector. Prominent players in the ethylene vinyl acetate market, including DuPont, BASF SE, Exxon Mobil Corporation, Royal Dutch Shell, SABIC, and others, are attempting to expand market demand by investing in research and development operations.


Asian Paints Ltd is a provider of painting and waterproofing solutions. The company's product portfolio includes industrial and decorative paints, including exteriors, interiors, enamels, and wood finishes. It provides these products to automotive original equipment manufacturers, industrial, marine, and construction industries. In October 2022, Asian Paints announced an investment of INR 21,000 million (USD 261.22 million) for setting-up ethylene vinyl acetate and vinyl acetate monomer manufacturing facility in India with a suggested annual capacity of 100,000 tons of ethylene vinyl acetate.


Braskem S.A. produces petrochemicals and generates electricity. The Company produces ethylene, propylene, benzene, toluene, xylenes, butadiene, butene, isoprene, dicyclopentadiene, MTBE, caprolactam, ammonium sulfate, cyclohexene, polyethylene theraphtalat, polyethylene, and polyvinyl chloride (PVC). In May 2022, Braskem established Ethylene Vinyl Acetate-based sustainable 3D printing filaments for the application of 3d printing. The product is developed from bio-based ethylene vinyl acetate filament derived from raw sugarcane and recycled polyethylene and polypropylene (PE/PP) blended filaments.


Key Companies in the Ethylene Vinyl Acetate market include



Ethylene Vinyl Acetate Industry Developments


December 2021: Celanese Corporation, a chemical and specialty material company, acquired the Santoprene TPV elastomers business of Exxon Mobil Corporation to strengthen its portfolio. Further, in April 2020, the company acquired Nouryon's re-dispersible polymer powder portfolio offered under the Elotex brand.


December 2021: Exxon Mobil Corporation acquired Materia Inc., a structural polymer company that offers a range of products for wind turbine blades, electric vehicle parts, sustainable construction, and anti-corrosive coatings.


January 2019: Celanese Corporation announced the acquisition of Next Polymers Ltd. This acquisition will likely lead to rapid growth in the Indian business and broaden the company's ability to serve nylon and other engineered materials, along with offering a huge range of polymer products over the coming years.


Ethylene Vinyl Acetate Market Segmentation


Ethylene Vinyl Acetate Type Outlook




  • Low-Density EVA




  • Medium Density EVA




  • High-Density EVA




Ethylene Vinyl Acetate Application Outlook




  • Foaming




  • Film Extrusion




  • Solar Cell Encapsulation




  • Injection Molding




  • Hot Melt Adhesives




  • Coatings




  • Wires & Cables




  • Others




Ethylene Vinyl Acetate End-User Outlook




  • Packaging




  • Renewable Energy




  • Adhesive & Sealants




  • Footwear




  • Construction




  • Electrical & Electronics




  • Automotive




  • Pharmaceuticals




  • Agriculture




  • Others




Ethylene Vinyl Acetate Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





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