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ASEAN Ethylene Vinyl Acetate (EVA) Resins Market Expected To Reach $1,276.8 Million by 2027


quote The ASEAN ethylene vinyl acetate (EVA) resins market is heading towards an expansion phase. This is mainly attributed to a significant surge in demand for polyethylene (PE) thermoplastic ethylene vinyl acetate (medium VA density) application of EVA resins in sealant materials and industrial adhesives. Ethylene VA Rubber market driven by growing application in photovoltaic cells, provides high transparency at affordable price. In addition, EVA resins are widely used in the packaging and paper industries, owing to their properties such as enhanced flexibility and low sealing temperature; thus boosting the market growth. Easy availability of natural gas and naphtha from oil & gas feedstock and shifting trend towards environmental friendly EVA resins material has positioned Malaysia as a lucrative region for the market growth. quote

Eswara Prasad
Manager, Energy and Power at Allied Market Research

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According to a new report published by Allied Market Research, titled, "ASEAN Ethylene Vinyl Acetate (EVA) Resins Market by Type, Application, and End-User: Opportunity Analysis and Industry Forecast, 2020–2027", the ASEAN ethylene vinyl acetate (EVA) resins market was valued at $769.0 million in 2019, and is projected to reach $1,276.8 million by 2027, growing at a CAGR of 6.5% from 2020 to 2027.

EVA resins are copolymers formed using vinyl acetate monomer and ethylene. They offer enhanced stress crack resistance and are able to maintain their flexibility over a varied temperature range from −60°C to 150°C, without the use of plasticizers. They are widely used in packaging and paper industry & electrical and electronic industries, owing to their properties such as high coefficient of friction, low seal initiation temperatures, and superior impact resistance. The development of the packaging & electronic industries and increase in demand for packaging materials & consumer electronics across emerging economies are the major factors that drive the growth of the ASEAN ethylene vinyl acetate (EVA) resins market size.

Based on type, the ASEAN ethylene vinyl acetate (EVA) resins market is segmented into polypropylene (PP) vinyl acetate-modified polyethylene (low VA density), polyethylene (PE) thermoplastic ethylene vinyl acetate (medium VA density), and ethylene vinyl acetate rubber (high VA density).

The applications covered in the study include film, foam, hot melt adhesives, wire & cable, extrusion coating, solar cell encapsulation, and others. EVA foam is widely used in the development of automotive parts, due to the fact that they are firmer and more robust as compared to polyurethane foam.

Depending on end user, the market is divided into building and construction, aerospace, wind power, marine; consumer goods, and others. In the paper & packaging industry, EVA resin is used owing to its properties such as resistance to crack, enhanced flexibility, low sealing temperature, superior toughness, and puncture resistance. In the consumer goods packaging and footwear industry, ethylene vinyl acetate resin is used as packaging film and shoe midsoles, respectively.

Country wise, the ASEAN ethylene vinyl acetate (EVA) resins market share is analyzed across Malaysia, the Philippines, Thailand, Myanmar, Vietnam, Singapore, and rest of ASEAN.

Market players have adopted joint venture, partnership, and expansion as their key strategies to gain competitive advantage in this market. The key players profiled in this report include Arkema S.A., Braskem S.A., Celanese Corporation, DOW Inc., Innospec Inc, Exxon Mobil Corporation, Formosa Plastics Corporation, Hanwha Chemical Co, Ltd., Total SA, Lyondell Basell Industries N.V., SIPCHEM, Eastman Chemical Company, China Petrochemical Corporation, and Lotte Chemical Corporation.

Key Findings of the Study:

  • The Malaysia thermoplastic ethylene VA market is predicted to hold a share of around 68.16% by 2027.
  • The EVA foam segment is expected to hold maximum share of the market in terms of revenue, during the projected period.
  • The photovoltaic panels segment is projected to grow at a highest CAGR of around 8.4% by 2027

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quote ASEAN Ethylene Vinyl Acetate (EVA) Resins Market by Type (Polypropylene (PP) Vinyl Acetate-modified Polyethylene (Low VA Density), Polyethylene (PE) Thermoplastic Ethylene Vinyl Acetate (Medium VA Density), and Ethylene Vinyl Acetate Rubber (High VA Density)), by Application (Film, Foam, Hot Melt Adhesives, Wire & Cable, Extrusion Coating, Solar Cell Encapsulation, and Others), and by End User (Automotive, Packaging & Paper, Paints, Coatings & Adhesives, Electronics & Electrical, Pharmaceutical, Footwear, Photovoltaic Panels, and Others): Opportunity Analysis and Industry Forecast, 2020–2027 quote

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