The global EVA market to grow at a CAGR of 5.14% during the period 2016-2020.
Global Ethylene Vinyl Acetate (EVA) Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend which is helping to boost market growth is the introduction of bio-based EVA. The production of synthetic EVA results in the emission of various volatile organic compounds and greenhouse gases. These pollutants affect the nervous system, cause headaches, fatigue, dizziness, narcosis, vomiting, nausea, and other adverse effects. Ethylene can be sourced from natural oils such as palm, castor, rapeseed, corn, and soy. These sources are easily available. Further, the volatility in the costs of crude oil also spurs the demand for bio-based EVA. Like synthetic EVA, bio-based EVA can be used in the manufacture of adhesives, sealants, and rigid and flexible foams.
According to the report, a key growth driver is the use of EVA in photovoltaic applications. Countries are investing significantly in solar energy for generating renewable and sustainable energy. EVA encapsulation materials are gaining popularity due to their desirable properties such as better transparency and elasticity, excellent melt fluidity, low processing temperature, adhesive property, and reduced costs. EVA accounts for 80% of the encapsulant application in the photovoltaic industry. Increased investments in the sector will spur the consumption of EVA.
Further, the report states that one challenge that could hamper market growth is the fluctuating prices of ethylene.