The Ethylene vinyl acetate (EVA) resins are introduced by utilizing ethylene and vinyl acetate. It is optimized in the introduction of packaging film, foam, wire & cable, solar cell encapsulation, and hot melt adhesives, and are serene of 18-40% vinyl acetate. EVA with stumpy melt index (MI) deliver great strength, greater viscosity, and hot tack (relative melting and bonding power) as compared to its extraordinary melt index counterparts.
According to the report analysis, ‘Global EVA Resin Market to reach USD 12.07 Billion by 2026’ states that the EVA resins are broadly utilized in the packaging and paper industries, due to their belongings such as heightened flexibility and stumpy sealing temperature. Therefore, the quick growth in the packaging and paper industries around the globe propel the growth of market over the review years. For instance: as per Statista, the Dog & cat food packaging, beverage packaging, Food packaging, Home care packaging industry is projected to propagate with 12%, 11%, 11%, 7% simultaneously around the world in time duration between 2017-2021. In addition, Momentous Growth in Solar Power Industry, and projecting application of EVA resin in it is projected to propel the market growth over the review years. Whereas, the worldwide increment in incidence of COVID-19 worldwide may affect unfavorably to the market growth owing to execute of lockdown in several economies around the globe. Also, Intercession of Substitute Materials of EVA resin is projected to restrict the growth of market over the review years.
The worldwide EVA Resin Market is worth approximately USD 7.87 Billion during 2019 and is projected to grow with a vigorous growth rate of more than 6.30% over the review period of 2019-2026. However, the regional analysis of worldwide EVA Resin market is considered for the foremost regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. The North America is the leading/noteworthy region around the world in terms of market share due to the speedy growth in packaging industries around the region. Whereas, the Asia-Pacific is also projected to exhibit greatest growth rate / CAGR over the review period of 2020-2026. Aspects such as huge economic growth in the region along with Momentous Growth in Solar Power Industry would generate the lucrative growth prospects for the EVA Resin market around Asia-Pacific region. Nonetheless, the requirement in requirement & production of packaging material, electric automobiles, and photovoltaic panels for the construction of solar energy has improved the requirement for ethylene vinyl acetate resin around the Asia-Pacific region.
Furthermore, they are broadly optimized in packaging and paper industry & electrical and electronic industries, due to their possessions such as great coefficient of friction, low seal initiation temperatures, and greater impact resistance. The improvement of the packaging & electronic industries and augment in requirement for packaging materials & consumer electronics around emerging regions are the foremost factors that propel the growth of the worldwide EVA resins market. Therefore, in the near years, it is predicted that the market of EVA resin will increase around the globe more effectively over the forthcoming years.
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Related Reports:-
Global EVA Resin Market Analysis 2013-2018 and Forecast 2019-2024
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