Ethylene Vinyl Acetate Market To Witness High Growth
SWOT Analysis
Strength: Ethylene Vinyl Acetate (EVA) is known for its manufacturing capabilities and extensive demand among various industries. EVA has high flexibility, high durability and transparency which makes it suitable for use in wires, cables, sheets, pipes and packaging amongst others. EVA also offers superior weatherability and heat protection makes it a preferred choice for outdoor uses. It is compatible with various polymers and has low-temperature processing which helps in production cost reduction.
Weakness: EVA has limited chemical resistance against hydrocarbon-based fluids. It has lower melting point as compared to other polymers which restricts its use in high temperature applications. Intense competition from substitute polymers like LDPE, LLDPE and EVOH pose challenge for EVA producers.
Opportunity: Increasing demand for EVA from end-use industries like solar PV modules, wires & cables, plumbing, and packaging provide opportunity for market growth. New product and technology development for superior properties extends usage of EVA in newer applications. Emerging economies offer scope to establish production facilities catering to rising local demand.
Threats: Stringent regulations over plastics waste management and disposal affects EVA consumption. Volatility in raw material prices of ethylene and vinyl acetate monomers poses risks to stable production costs.
Key Takeaways
The Global Ethylene Vinyl Acetate Market Growth is expected to witness high, exhibiting CAGR of 4.8% over the forecast period, due to increasing usage in solar panels manufacturing.
Regional analysis: North America holds the largest share in the global EVA market due to presence of major solar PV panel manufacturers and consumer brands in the region. Asia Pacific region is expected to be the fastest growing market, exhibiting a CAGR of around 5.5% owing to increasing electronics, wires, and cables, as well as solar PV installations in China and India.
Key players analysis: Key players operating in the Ethylene Vinyl Acetate market are Arlanxeo, Asia Polymer Corporation, Benson Polymers Limited, Braskem, Celanese Corporation, Clariant AG, Dow, ExxonMobil Corporation, Hanwha, Solutions/Chemical Corporation, Innospec Inc., LyondellBasell Industries Holdings BV, Repsol, Sipchem, SK Global, Sumitomo Chemical Co. Ltd., and Tosoh Corporation.
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