Global Ethylene Vinyl Acetate (Eva) Resins Market Is Expected to Reach $12.14 Billion by 2026
Portland, OR, Aug. 23, 2019 (GLOBE NEWSWIRE) — Allied Market Research recently published a report, titled, “Ethylene Vinyl Acetate Resins Market by Type (Vinyl Acetate-modified Polyethylene (Low VA Density), Thermoplastic Ethylene Vinyl Acetate (Medium VA Density), Ethylene Vinyl Acetate Rubber (High VA Density)), Application (Film, Foam, Hot Melt Adhesives, Wire & Cable, Extrusion Casting, Solar Cell Encapsulation, and Others), and End User (Automotive; Packaging & Paper; Paints, Coatings, & Adhesives; Electronics & Electrical; Pharmaceutical; Footwear; Photovoltaic Panels; and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026”
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According to the report published by Allied Market Research, the global Ethylene Vinyl Acetate (Eva) Resins market was estimated at $7.44 billion in 2018 and is expected to hit at $12.14 billion by 2026, registering a CAGR of 6.3% from 2019 to 2026. The report provides an in-depth analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
Development of the packaging industry, economic proliferation & increased income level, rising investment in solar energy generation set-ups, and surge in demand from different sectors such as footwear & foam markets propel the growth of the global Ethylene Vinyl Acetate (Eva) Resins market. On the other hand, increase in the threat of substitutes and concerns associated with the usage of EVA in photovoltaic packaging restrain the growth to some extent. However, the introduction of bio-based EVA resin materials is expected to create a number of lucrative opportunities for the key players in the industry.
The Thermoplastic Ethylene VA segment to lead the trail during the forecast period-
Based on type, the Thermoplastic Ethylene VA segment contributed to more than two-thirds of the total market revenue in 2018 and is expected to dominate through 2019–2026. The Ethylene VA Rubber segment, on the other hand, is projected to garner the fastest CAGR of 6.82% by 2026.
The footwear segment to rule the roost till 2026-
Based on end-user, the footwear segment accounted for more than two-fifths of the total market share in 2018 and is anticipated to maintain its dominance during the study period. Simultaneously, the photovoltaic panels segment is predicted to register the fastest CAGR of 7.79% throughout the estimated period.
Asia-Pacific generated the major share in 2018-
Based on geography, the Asia-Pacific region held the highest share in 2018, contributing to nearly half of the total market. The same segment would also cite the fastest CAGR of 6.45% during 2019–2026.
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Leading market players-
The key market players analyzed in the global Ethylene Vinyl Acetate (Eva) Resins market report include Celanese Corporation, DOW Inc., Lyondell Basell Industries N.V., Exxon Mobil Corporation, Arkema S.A., Hanwha Chemical Co, Ltd., Sinopec Corporation, Lotte Chemical Corporation, Formosa Plastics Corporation, and Braskem S.A. These market players have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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