Ethylene Vinyl Acetate (EVA) Resins & Films Market Segmentation by Application [Food & Beverage Packing, Hot Melt Adhesives, Wires & Cables, Foams, Inks, Bitumen Additives & Asphalt Modifiers, Pharmaceutical, EVA Film {Solar Cell Encapsulation (Thin-Film, and Crystalline Solar Cells), Glass Lamination, Agriculture, and Others}, and Others]-Global Demand Analysis & Opportunity Outlook 2021-2031

Global Ethylene Vinyl Acetate (EVA) Resins & Films Market Highlights Over 2021 - 2031

The global ethylene vinyl acetate (EVA) resins & films market is estimated to garner a revenue of USD 12127.4 Million by the end of 2031, by growing at a CAGR of 5.9% over the forecast period, i.e., 2022 – 2031. Moreover, in the year 2021, the market generated a revenue of USD 6863.6 Million. The growth of the market can be attributed to the growing demand for footwear around the globe and the surge in demand among the footwear manufacturers for different components of a footwear, such as soles, adhesives, and others. According to the statistics by the International Trade Center (ITC), the value of exports of outer soles of footwear made out of rubber or plastics increased from USD 12620569 Thousand in the year 2012 to USD 25795627 Thousand in the year 2019. Bio-based EVA resins are nowadays becoming increasingly popular amongst the footwear manufacturers for manufacturing footwears for children. These renewable resins are known to minimize greenhouse gas (GHG) emissions as carbon dioxide (CO₂) is trapped during the manufacturing process of these renewable EVA resins.

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The growth of the ethylene vinyl acetate (EVA) resins & films market can also be attributed to the increasing use of these chemical compounds for manufacturing foams, and sporting items, such as hockey pads, martial art gloves, and others, backed by its shock absorbing properties. Moreover, the rising use of EVA resins & films in solar panels, along with the increasing demand for solar panels globally are some of the additional factors anticipated to promote the growth of the market in the coming years. According to the statistics by the International Renewable Energy Agency (IRENA), solar PV installed capacity worldwide increased from 72216 MW in the year 2011 to 843086 MW in the year 2021.

Global Ethylene Vinyl Acetate (EVA) Resins & Films Market Regional Synopsis

Regionally, the global ethylene vinyl acetate (EVA) resins & films market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is expected to garner the largest revenue of USD 7437.1 Million by the end of 2031, up from a revenue of USD 4051.9 Million in the year 2021. The growth of the market in the region can primarily be attributed to the presence of nations, such as Korea and China, who are the largest exporters of EVA resins & films worldwide. In the other statistics by the ITC, the value of exports of EVA copolymers in primary forms in Republic of Korea and Chinese Taipei ranked 1^st and 2^nd respectively and grew from USD 530684 Thousands and USD 496114 Thousands respectively in the year 2012 to USD 1009699 Thousands and USD 671596 Thousands respectively in the year 2019. The market in the region is further segmented by country into China, Japan, India, South Korea, ASEAN, and the Rest of Asia Pacific. The market in China is projected to garner the largest revenue of USD 4547.8 Million by the end of 2031, up from a revenue of USD 2523.0 Million in the year 2021.

Growth Drivers and Challenges Impacting the Growth of the Global Ethylene Vinyl Acetate (EVA) Resins & Films Market

Growth Drivers

• Increasing Solar PV Installations Worldwide

• Rising Use of EVA Resins in Footwear

Challenges

• Availability of Low-Cost Substitutes

Global Ethylene Vinyl Acetate (EVA) Resins & Films Market Segmentation Synopsis

The global ethylene vinyl acetate (EVA) resins & films market is segmented by application into food & beverage packing, hot melt adhesives, wires & cables, foams, inks, bitumen additives & asphalt modifiers, pharmaceutical, EVA film, and others. The EVA films segment is projected to garner the largest revenue of USD 5387.1 Million by the end of 2031, up from a revenue of USD 3006.5 Million in the year 2021.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global ethylene vinyl acetate (EVA) resins & films market that are included in our report are Arkema, International Polymers Corporation (IPC), Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., Braskem, LG Chem, Celanese Corporation, Hanwha Solutions Chemical Division Corporation, Folienwerk Wolfen GmbH, SANVIC Inc. (KANEKA CORPORATION), LOTTE Chemical Corporation, Dr. Dietrich Mueller GmbH, Lucent CleanEnergy, SK geo centric Co., Ltd., Changzhou Betterial Film Technologies Co., Ltd., Zhejiang Sinopont Technology Co., Ltd., JIN HEUNG INDUSTRIAL CO., LTD., INTERLAYER SOLUTIONS, Mitsui Chemicals, Inc., Japan Coating Resin co., ltd., The Dow Chemical Company, 3M, and others.

Latest Developments in the Global Ethylene Vinyl Acetate (EVA) Resins & Films Market:

• May 8^th, 2020: Celanese Corporation announced that it has signed a memorandum of understanding (MoU) with the chemical, fiber, and new material manufacturer of China, Anhui Wanwei Group Co., Ltd., to supply ethylene-based vinyl acetate monomer (VAM).

• January 25^th, 2021: Mitsubishi Chemical Corporation announced that it would merge Toei Kasei Co., Ltd., and Japan Coating Resin Corporation, the two wholly owned subsidiaries of Mitsubishi, into a single entity under the name Japan Coating Resin Corporation.

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• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

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Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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