Ethylene Vinyl Acetate (EVA) Industry Market By Type (VLEVA, LEVA, MEVA, HEVA), By Application (Injection Molding, Film, Extrusion Coating Other Extrusions And Other Non-Extrusions, Compounding And Wire & Cables, Others), By End User (Footwear & Foams, Packaging, Agriculture, Pharmaceutical, Photovoltaic Panels, Others), and Geography

Ethylene Vinyl Acetate (EVA) Industry Market was valued at USD 8,132.7 million in 2022 and is anticipated to grow at a CAGR of 6.8 % over 2023-2029. Ethylene vinyl acetate (EVA), also known as poly (ethylene-vinyl acetate) (PEVA), is a copolymer that is produced by the copolymerization of ethylene and vinyl acetate monomers. EVA is a flexible polymer with great features including flexibility, hardness, low-temperature resistance, and UV resistance. It's widely employed in a variety of sectors, including packaging, automotive, footwear, construction, electronics, and others. The drivers influencing the EVA industry market include the increased demand for EVA in the packaging sector is one of the primary factors. EVA is widely used in food packaging, medicinal packaging, and agricultural films as a film and sheet material. It is appropriate for a wide range of packaging applications due to its exceptional clarity, flexibility, and heat-sealing qualities. Another driver of the EVA industry market is the increasing demand for EVA in the footwear industry. EVA is commonly used in the production of shoe soles, midsoles, and insoles due to its cushioning, shock-absorbing, and lightweight properties. Furthermore, EVA has diverse applications in emerging biomedical engineering as a drug delivery device, such as transdermal drug delivery systems and drug carriers for 3D printed medical drug delivery devices, which drive the EVA market's growth while also creating opportunities for future growth. However, environmental concerns associated with the disposal of EVA waste and its non-biodegradable nature pose challenges for the EVA industry market. The key market players are continuously developing innovative solutions to cater the demand of various end-use industries. For instance, in May 2018, Braskem launched Evance, high-performance resins, that can be used by footwear, automotive, construction, transportation, sporting goods, wire and cable and other industries.

Ethylene Vinyl Acetate (EVA) Industry Market Key Developments:  

• In August 2018, Braskem launched new renewable bio-based EVA resins, made from sugarcane, for applications in industries such as footwear, automotive, transportation and others.
• In May 2022, GEARWRENCH launched modular tool sets organized in convenient EVA foam trays, allowing users to customize their own toolkit and storage system.