According to the latest report published by Fact.MR, a market research and competitive intelligence provider, the global ethylene vinyl acetate market is expected to reach a valuation of US$ 11.37 billion by the end of 2032, expanding at a CAGR of 2.4%.
High requirement of ethylene vinyl acetate (EVA) from the footwear and foam industry is set to flourish the demand curve in the near future, since it is highly utilized for the manufacturing of outsoles and insoles. Moreover, significant demand from packaging, agriculture, and pharmaceutical end-use verticals will provide abundant opportunities to EVA manufacturers over the coming years.
Additionally, shifting consumer interest towards sustainable packaging for daily consumer goods products will also push demand in the next couple of years. Ethylene vinyl acetate is considered as an environment-friendly material, which does not utilize chlorine in its manufacturing process. Due to this market scenario and versatile end-use applications, market players are anticipated to surge their production to cater the dynamic demand from several end-use verticals.
Key Takeaways from Market Study
- Global ethylene vinyl acetate market poised to expand at CAGR of 2.4%, reaching a valuation of US$ 11.37 billion by the end of 2032.
- On the basis of type, low density EVA is projected to dominate the global market in terms of revenue generation, and account for 31.7% market share by the end of 2032.
- Footwear & foam end use to generate a valuation of US$ 2.83 billion and to capture around 1/4 market share by 2032.
- North America likely to be most attractive regional market and reach a valuation of US$ 3.54 billion by the end of the assessment period.
- Packaging end-use industry estimated to generate US$ 1.89 billion in 2022.
- Medium density EVA, by type, is likely to account for more than 1/4 revenue share and create an absolute $ opportunity of US$ 599.4 million.
- European regional market expected to register a CAGR of 2.1% over the forecast period.
“Growing demand for sustainable packaging solutions to drive the demand curve of EVA during the assessment period,” says a Fact.MR analyst
Adoption of collaborative approach with end-use industries has become a popular trend followed by various ethylene vinyl manufacturers in the global market. This approach aids manufactures in establishing a strong consumer base and maintain a demand & supply equilibrium.
Moreover, few market players have strengthened their consumer base by streamlining their product lines as per end-use industry demand.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global ethylene vinyl acetate market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market based on type (very low density EVA, low density EVA, medium density EVA, high density EVA) and end-use industry (footwear & foam, packaging, agriculture, photovoltaic panels, pharmaceuticals, other end-use industries), across major regions (North America, Latin America, Europe, APAC, and the Middle East & Africa).
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals & materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the prominent end use industries across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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