According to Fact.MR, a market research and competitive intelligence company, the worldwide ethylene vinyl acetate market is predicted to reach US$ 11.37 billion by the end of 2032, growing at a CAGR of 2.4%.
The strong demand for ethylene vinyl acetate (EVA) from the footwear and foam industries is expected to drive the demand curve in the near future, since it is widely used in the production of outsoles and insoles. Furthermore, strong demand from the packaging, agriculture, and pharmaceutical end-use verticals will present EVA makers with several possibilities in the coming years.
Key Takeaways from Market Study
- Global ethylene vinyl acetate market poised to expand at CAGR of 2.4%, reaching a valuation of US$ 11.37 billion by the end of 2032.
- On the basis of type, low density EVA is projected to dominate the global market in terms of revenue generation, and account for 31.7% market share by the end of 2032.
- Footwear & foam end use to generate a valuation of US$ 2.83 billion and to capture around 1/4 market share by 2032.
- North America likely to be most attractive regional market and reach a valuation of US$ 3.54 billion by the end of the assessment period.
- Packaging end-use industry estimated to generate US$ 1.89 billion in 2022.
- Medium density EVA, by type, is likely to account for more than 1/4 revenue share and create an absolute $ opportunity of US$ 599.4 million.
- European regional market expected to register a CAGR of 2.1% over the forecast period.
Why is the United States a Significant Market for Ethylene Vinyl Acetate Manufacturers?
The EVA market in the United States has been rapidly expanding because to increased demand for sustainable packaging solutions from the healthcare and pharmaceutical end-use sectors.
The United States now holds more than 89 percent of the North American market and is estimated to generate an absolute $ potential of US$ 690 million throughout the evaluation period.