Global Ethylene Vinyl Acetate (EVA) Resins & Films Market to Grow with a CAGR of 5.9% During 2022-2031; Market to Grow on Account of Increasing Demand for Footwear Worldwide
Kenneth Research published a report titled “Ethylene Vinyl Acetate (EVA) Resins & Films Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global ethylene vinyl acetate (EVA) resins & films market in terms of market segmentation by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global ethylene vinyl acetate (EVA) resins & films market is anticipated to grow with a CAGR of 5.9% over the forecast period, i.e., 2022 – 2031. The 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. Out of these, the EVA films segment is projected to garner the largest revenue of USD 5387.1 Million by the end of 2031. Additionally, in the year 2021, the segment registered a revenue of USD 3006.5 Million.
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, up from a revenue of USD 6863.6 Million in the year 2021. Surge in demand for footwear and different components that are used in footwear, such as soles, adhesives, and others, and the growing use of EVA resins and films for manufacturing these footwear components, are expected to drive the growth of the market during the forecast period.
Geographically, 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. Out of these, the market in the Asia Pacific is expected to garner the largest revenue of USD 7437.1 Million by the end of 2031. Additionally, in the year 2021, the market in the year 2021 registered a revenue of USD 4051.9 Million.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Installations of Solar PV to Drive the Market Growth
The solar PV installed capacity worldwide, according to the statistics by the International Renewable Energy Agency (IRENA), touched 843086 MW in the year 2021, up from 72216 MW in the year 2011.
Backed by the rising concerns for greenhouse gas (GHG) emissions, the demand for solar panels and green energy around the globe has witnessed a massive surge in growth. As solar panels are manufactured using EVA resins & films, the demand for the chemical compound is also expected to grow significantly, and in turn, boost the growth of the market.
However, the availability of low-cost substitutes is expected to operate as key restraint to the growth of global ethylene vinyl acetate (EVA) resins & films market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ethylene vinyl acetate (EVA) resins & films market which includes company profiling of 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. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ethylene vinyl acetate (EVA) resins & films market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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