Boston, MA -- (SBWIRE) -- 05/07/2014 -- Ethylene Vinyl Acetate Market by Type (VLEVA, LEVA, MEVA, HEVA), Application (Film, Extrusion, Non-Extrusion, Injection Molding, Coating, Wire & Cable), by End-Uses (Shoes & Foams, Packaging, Photovoltaic Panels) & Geography - Trends & Forecasts to 2018
Ethylene vinyl acetate has found wide acceptance in various industries on account of its distinguished properties in comparison to other materials. On the basis of application areas, the market of ethylene vinyl acetate can be broadly segmented into film, extrusion, non-extrusion, injection molding, coating, and wire & cable. Though film and injection molding are the major ethylene vinyl acetate applications and serve an array of industries due to their various properties and performance advantages, compounding and wire & cable is an emerging market and the demand for the same is growing at good pace.
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The Asia-Pacific region is the biggest market of ethylene vinyl acetate, consuming nearly half of its total global demand. There is a lot of scope in the Asia-Pacific market due to strong and increasing manufacturing and industrial base, which is the important end consumer of medium density ethylene vinyl acetate. Additionally, the need for high performance material for film and injection molding is pushing the demand for ethylene vinyl acetate at a considerable pace in the region. With the emerging technological developments and innovations in the region, the growth in demand for ethylene vinyl acetate may further augment at a higher pace.
Currently, the penetration of ethylene vinyl acetate is increasing in compounding and wire & cable, injection molding, and other extrusion segments around the globe. The key drivers for increasing demand of ethylene vinyl acetate in all the sectors are huge economic progress of the Asian countries and easy availability of cheaper raw materials in North America and the Asia-Pacific. On the other hand, rise in the solar panel sectors of North America and the Asia-Pacific is the major upcoming opportunity in the market. The technological developments and innovations are identified as key strategies to capitalize on these opportunities.
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