SAN FRANCISCO, Aug. 26, 2020 /PRNewswire/ — The global ethylene vinyl acetate copolymer market size is anticipated to reach USD 10.7 billion by2027, according to a new report by Grand View Research, Inc., registering a CAGR of3.8% over the forecast period. Rising healthcare issue, which requires prosthetics, and growing concern among consumers and various automobile manufacturing companies regarding vehicle efficiency and favorable government regulations regarding the use of lightweight durable components in automotive, medical & healthcare, and consumer goods end-use industries is expected to drive the market over the forecast period.
The demand for ethylene vinyl acetate (EVA) copolymer is expected to increase majorly in the consumer goods end-use industry owing to the rise in demand for smart devices and electrical devices. In addition, the demand for smart household electronic devices, such as solar panels, alarms, and buggers, which require lightweight & thermal conductive components has increased sharply in recent years. This trend is expected to propel the market growth over the forecast period.
Key suggestions from the report:
- The global EVA copolymer market was valued at USD 7.9 billion in 2019 and is estimated to expand at a CAGR of 3.8% from 2020 to 2027
- Consumer goods end-use industry segment is expected to witness the highest CAGR of 4.2%, in terms of revenue, over the forecast period
- This growth is attributed to the rising demand for high-quality electronics components & products, consumer goods, and kitchen appliances
- The Automotive segment accounted for over 30% of the overall revenue share in 2019 due to increased demand for lightweight durable metal replacement components to reduce the overall weight and enhance the efficiency of vehicles
- Asia Pacific accounted for the largest revenue share of over 44% in 2019. India, in particular, will have the maximum growth with a CAGR of 6.8% from 2020 to 2027
Read 110 page research report with ToC on “Ethylene Vinyl Acetate Copolymer Market Size, Share & Trends Analysis Report By Type, By Application (PV Cells, Film), By End-use Industry (Consumer Goods, Medical & Healthcare, Automotive), And Segment Forecasts, 2020 – 2027” at: https://www.grandviewresearch.com/industry-analysis/ethylene-vinyl-acetate-copolymer-market
Asia Pacific EVA copolymer market is anticipated to witness the fastest growth over the coming years owing to various factors, such as the government initiatives like Make in India, rising number of manufacturers of consumer goods & electronic components and medical & healthcare products, and rising R&D investments by private and public organizations for developing new applications of EVA copolymer. In addition, various medical & healthcare product manufacturing companies are planning to establish manufacturing facilities in India post COVID-19 pandemic situation.
Grand View Research has segmented the global ethylene vinyl acetate copolymer market on the basis of type, application, end-use industry, and region:
- EVA Copolymer Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Vinyl Acetate Modified Polyethylene
- Thermoplastic Ethylene-Vinyl Acetate
- Ethylene Vinyl Acetate Rubber
- EVA Copolymer Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Hot Melt Adhesives
- Photovoltaic Cells
- EVA Copolymer End-use Industry Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Medical & Healthcare
- Consumer Goods
- EVA Copolymer Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- North America
- The U.K.
- Asia Pacific
- South Korea
- Southeast Asia
- Central & South America
- Middle East & Africa
List of Key Players of Ethylene Vinyl Acetate (EVA) Copolymer Market:
- Exxon Mobil Corp.
- Dow Inc.
- LyondellBasell Industries Holdings B.V.
- Eastman Chemical Company
- Celanese Corp.
- LG Chem
- Dairen Chemical Corp.
- Lotte Chemical Corp.
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- Pressure Sensitive Adhesives Market – The market is anticipated to be driven by the significant demand for pressure sensitive tapes and labels from the packaging industry.
- Cosmetic Packaging Market – Increasing demand for cosmetics due to the growing youth population are anticipated to drive the market in the forecast period.
- Polyurethane Market – Increasing demand for lightweight and durable products in the automotive, construction and electronics industries is estimated to boost the overall market growth in the upcoming period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.