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Plastomers is fastest growing segment fueling the growth of Ethylene Vinyl Acetate Market

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Gauri Cmi
Plastomers is fastest growing segment fueling the growth of Ethylene Vinyl Acetate Market


Ethylene Vinyl Acetate is produced by copolymerization of ethylene and vinyl acetate. It is used in hot melt adhesives, packaging, films and injection molding due to its excellent elastic behavior, transparency and flexibility. Its bonding strength and hot tack properties makes it suitable for packaging tapes, cartons, bags and liners.

 

The global Ethylene Vinyl Acetate Market is estimated to be valued at US$ 1,484.94 Mn or Bn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

One of the key trends in the Ethylene Vinyl Acetate market is rising demand for plastomers. Plastomers are specialty thermoplastic elastomers based on Ethylene Vinyl Acetate providing superior elastic properties and processability. They are extensively used in hoses, tubing, profile extrusions, films and footwear due to their flexibility even at low temperatures. Their elastic behavior and ease of processing has made them popular in various industries like consumer goods, automotive and construction. This has driven the growth of plastomers segment in the global Ethylene Vinyl Acetate market during the forecast period.

Segment Analysis

The global ethylene vinyl acetate market is segmented by type, end use industry and geography. By type, the market is divided into polypropylene (PP)-based EVA and polyethylene (PE)-based EVA. PE-based EVA dominates the market as it offers higher tensile strength, flex resistance and impermeability as compared to PP-based EVA. By end use industry, the market is classified into packaging, agriculture, photovoltaic panels, footwear and others. The packaging segment accounts for the largest share as EVA is majorly used in manufacturing flexible packaging, coffee pouches, snack food packaging due to its solid bonding, high transparency and elasticity properties.

Key Takeaways

The Global Ethylene Vinyl Acetate Market Growth is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing demand from packaging industries.

Regional analysis:

Asia Pacific dominates the global market and is expected to maintain its lead over the forecast period. China dominates the Asia Pacific region owing to growing population, improving standards of living and increasing demand for processed and packaged food. North America and Europe are other major regions for EVA market.

Key players:

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. Arlanxeo, Dow and ExxonMobil captured over 30% share of global EVA market in 2021.

 

Get More Insights On This Topic: https://www.pressreleasebulletin.com/ethylene-vinyl-acetate-market-size/


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