Lucintel’s latest market report analyzed that ethylene vinyl acetate provides attractive opportunities in the packaging, solar, agriculture, wire & cable, footwear, and automotive industries. The ethylene vinyl acetate market is expected to reach $10.4 billion by 2025 with a CAGR of 3.9%. In this market, solar is the largest segment by end use industry, whereas film is largest by application. Increasing demand for EVA in the medical industry and expansion of the solar industry provides strategic growth path in this market.
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Based on end use industry, the ethylene vinyl acetate market is segmented into packaging, solar, agriculture, wire & cable, automotive, footwear, and others. The solar segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to the growth in solar photovoltaic cells installation in Asia pacific region, especially in China, India, Japan, South Korea, and Taiwan.
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The ethylene vinyl acetate market is marked by the presence of several big and small players. Some of the prominent players offering ethylene vinyl acetate include E. I. du Pont de Nemours and Company, Hanwha Chemical, ExxonMobil Corporation, Formosa Plastics Corporation, LyondellBasell Industries NV, Arkema S.A., Celansese Corporation, USI Corporation, Lotte Chemical Corporation, and Versalis S.p.A.
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