CHICAGO, Oct. 5, 2021 /PRNewswire/ -- According to the new market research report "Ethylene Vinyl Acetate Market by Type (Very low-density, Low-density, Medium-density, and High-density EVA), End-use Industry (Photovoltaic Panels, Footwear & Foams, Packaging, Agriculture), Application, and Region - Global Forecast to 2026", published by MarketsandMarkets, the Ethylene Vinyl Acetate market size is estimated to be USD 9.7 Billion in 2021 and is projected to reach USD 13.6 Billion by 2026, at a CAGR of 6.8%. Factors such as raising concern for healthcare and photovoltaic installations have increased the demand across the globe that support the market growth. Moreover, the significant growth of the construction and automobile industry in developing countries are driving the EVA market.
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High density EVA accounted for the largest share in 2020
Extruded sheets are estimated to be the largest form of EVA. This is due to its advantages, which include clarity, good surface quality, range of colors, easy maintenance, surface hardness, lightweight, and easy fabrication.
Film application accounted for the largest share in 2020
Ethylene Vinyl Acetate (EVA) EVA with 6% - 10% vinyl acetate content is commercially used for film applications. Films manufactured using EVA copolymers became the most widespread due to their properties, such as lower melting point, higher transparency, high impact resistance, thermal stability, elasticity, and hygienic characteristics.
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APAC is projected to account for the largest share of the EVA market during the forecast period
APAC is estimated to be the largest market for EVA and is projected to reach USD 8.7 Billion by 2026. The market in the region is primarily driven by the rising demand for durable plastic products from the footwears, pharmaceuticals, and photovoltaic panels segments.
The demand for EVA is mainly catered to by global players manufacturing these membranes for various end-use industries. ExxonMobil Corporation (US), Dow Inc. (US), SIPCHEM (Saudi Arabia), Formosa Plastics Corporation (Taiwan), and Hanwha Total Petrochemical are the key players operating in the EVA market. Expansions, acquisitions, joint ventures, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the EVA market.
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