Transparency Market Research has published a new research report titled “Ethylene Vinyl Acetate Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023” to their report store.

Albany, NY -- (SBWire) -- 05/10/2017 --The ever-increasing demand for packaging films is giving a significant impetus to the ethylene vinyl acetate market. Ethylene vinyl acetate (EVA) films have a number of applications, of which their use in flexible packaging is a prominent one. The organoleptic characteristics of ethylene vinyl acetate and excellent elasticity, flexibility, adhesive properties, clarity, and transparency of EVA copolymers make them highly suitable for several applications such as films, hot melt adhesives, wires and cables, photovoltaic cells, and others.

The monomers of ethylene and vinyl acetate are copolymerized utilizing autoclave process and high pressure tubular to produce EVA. EVA is available in different grades depending on vinyl acetate content that ranges from 1% to 40%. The broad categories of EVA depending on vinyl acetate content are very low EVA (1% to 10%), high EVA (20% to 40%), and low EVA (10% to 20%). Some of the applications of high vinyl acetate content EVA are photovoltaic cells, hot melt adhesives, and wires and cables. EVA with low vinyl acetate content is used in films and foams.

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In 2014, low EVA held the leading share of the global EVA market. However, high EVA is expected to be the fastest-growing product segment in the coming years as it displays exceptional performance due to higher vinyl acetate content.

However, factors such volatile prices of raw materials and rising competition from substitutes such as LLDPE are posing a challenge to this market's growth. Nevertheless, increasing efforts for tapping solar energy is expected to present lucrative opportunities for the EVA market for the manufacture and installation of photovoltaic cells.

Photovoltaic Cells to Display High Demand for Ethylene Vinyl Acetate

Rising population combined with increasing per capita income has spurred demand for EVA films for packaging applications over the past few years. Consequently, films stood as the largest application of EVA in 2014. EVA films are used for packaging of food and beverages, greenhouse films, agricultural films, and packaging of pharmaceuticals.

Photovoltaic cells are expected to be fastest-growing application segment of the EVA market in the near future. With increasing efforts for tapping renewable solar energy, the demand for EVA for encapsulation of photovoltaic cells is on the rise. An increasing number of projects for tapping solar energy and newly installed photovoltaic units in countries such as the U.S., Japan, China, and Italy are expected to present gainful opportunities to the global EVA market in the forthcoming years.

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Asia Pacific to Continue Lead in Global Ethylene Vinyl Acetate Market

In 2014, Asia Pacific stood as the leading regional market accounting for more than 35% of the global market in terms of volume. The region is anticipated to display the fastest growth in the coming years due to the increasing demand from key application segments. Growing population combined with increasing per capita income in developing countries is fuelling the demand for flexible packaging from food and beverages and personal care industries.

On the other hand, ASEAN countries and China are expected to be major producers of photovoltaic cells and footwear in the near future. This is expected to translate into substantial demand for ethylene vinyl acetate for foams, films, and photovoltaic cell applications.

North America held the second-largest share in the global EVA market in 2014. The Middle East and Africa region are expected to emerge as a significant market for ethylene vinyl acetate displaying notable growth in the coming years,

Some of the leading players in the global ethylene vinyl acetate market are Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., Braskem SA, Hanwha Group, and E.l.du Pont de Nemours and Company.