Global Ethylene Vinyl Acetate Market 2017-2021
About Ethylene Vinyl Acetate
Ethylene vinyl acetate (EVA) is produced by the copolymerization of 90%-60% ethylene with 10%-40% vinyl acetate. EVA is tough and elastic. The correlative of EVA is three times more flexible than low-density polyethylene (LDPE). The other properties of EVA include excellent barrier features; resistance to environmental stress cracking and water; and low-temperature toughness. EVA is used in a variety of applications such as hot-melt adhesives and biomedical engineering (for manufacturing drug delivery devices). EVA is known as foam rubber or expanded rubber and is used in sports shoes as shock absorbers. The foam is used as a padding in sports equipment such as helmets, boxing gloves, ski boots, wakeboard boots, fishing reel handles, wakeboard boots, fishing rods, and hockey pads.
Technavio’s analysts forecast the global ethylene vinyl acetate marketto grow at a CAGR of 3.88% during the period 2017-2021 .
Covered in this report
The report covers the present scenario and the growth prospects of the global ethylene vinyl acetate market for 2017-2021 . To calculate the market size, the report considers the revenue generated by the sales of ethylene vinyl acetate across various end-user segments..
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ethylene Vinyl Acetate Market 2017-2021
Technavio recognizes the following companies as the key players in the global ethylene vinyl acetate market: Arkema, Celanese, DuPont, ExxonMobil, LANXESS, LyondellBasell Industries Holdings, and Sumitomo Chemical
Other Prominent Vendors in the market are: Asia Polymer Corporation, Braskem, Bridgestone, Formosa Plastics, Hanwha Chemical, Innospec, Repsol, and Versalis.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Capacity expansions by major manufacturers. The global economic crisis (2008-2009) affected the chemicals industry in the US, the largest consumer of chemicals. It led to a series of crucial and strategic alliances across the linear EVA market. Economies of scale in business can be attained by maintaining a consistent demand for production and processing. Strategic alliances among major suppliers and raw material producers create market drag.”
According to the report, one of the major drivers for this market is Emergence of Asia as a manufacturing hub of EVA-based footwear. Easy availability of low-cost raw materials such as rubber, cotton, synthetic leather, polyester, and leather; and cheap labor have led many shoe manufacturers to relocate their production units to Asia, mainly China and India. In 2016, North Asia was the largest manufacturer of footwear. The region accounted for a market share of around 65%-70% in terms of revenue and consumption. It accounted for 24% of the market by volume. The region was followed by South Asia with a production share of 12%.
Further, the report states that one of the major factors hindering the growth of this market is Increase in price of EVA by vendors makes substitutes viable. Recently, many major vendors increased the price of EVA owing to the increase in prices of ethylene and vinyl acetate monomers. The procurement cost of EVA is high compared to substitutes such as LDPE and PVC. The price of EVA in 2016 was $0.50-$0.80 per pound.
Arkema, Celanese, DuPont, ExxonMobil, LANXESS, LyondellBasell Industries Holdings, and Sumitomo Chemical, Asia Polymer Corporation, Braskem, Bridgestone, Formosa Plastics, Hanwha Chemical, Innospec, Repsol, and Versalis.