NEW YORK, USA, Dec 20, 2022 (GLOBE NEWSWIRE) — Research Dive has released a new report on the global ethylene vinyl acetate resin market. According to the report, the global market is expected to exceed US$15,300.3 million and grow at a CAGR of 6.9% during the forecast period 2021-2028. The comprehensive report provides a comprehensive overview of the current and future state of the global market, outlining its key characteristics, including growth drivers, growth opportunities, restraints, and changes during the forecast period. The report also contains all the necessary and important market statistics to help new players get an idea of ​​the state of the global market.
        The sudden rise of the COVID-19 pandemic in 2020 has had an optimistic impact on the growth of the global ethylene vinyl acetate resin market. During the pandemic, people began to prefer packaged foods to avoid contamination and keep them safe. Thus, the growing demand for packaging products is driving the demand for packaging materials in the food and beverage industry, thereby increasing the demand for packaging materials based on ethylene vinyl acetate resin. These factors have significantly accelerated the growth of the market during the pandemic.
        A key growth driver for the global ethylene vinyl acetate resin market is the significant increase in demand for ethylene vinyl acetate resin from the packaging and paper industries. In addition, the development of bio-based ethylene vinyl acetate resin, an environmentally friendly material, is expected to open profitable market growth opportunities during the forecast period. However, the increased availability of low cost alternatives such as linear low density polyethylene (LLDPE) is expected to hinder market growth.
       The report segments the global Ethylene Vinyl Acetate Resin market by type, application, end user and region.
       The thermoplastic ethylene vinyl acetate segment (medium density VA) will hold a significant market share
        The Thermoplastic Ethylene Vinyl Acetate (Medium Density VA) sub-segment of this segment is expected to lead growth and generate revenue of $10,603.7 million over the forecast period. This growth is primarily due to an increase in the number of construction projects and the development of construction infrastructure.
        The solar cell packaging application sub-segment is expected to hold the leading market share and exceed US$1.352 billion during the forecast period. This is mainly due to the increased use of ethylene vinyl acetate resins in the solar panel encapsulation process.
        The PV panel sub-segment in the end-user segment is expected to show significant growth and reach $1,348.5 million over the forecast period. This growth is mainly due to the growing demand for electricity generation with solar panels. In addition, the use of ethylene vinyl acetate resins in photovoltaic panels provides a number of advantages such as good elasticity, low processing temperature, improved light transmission, improved melt flow and adhesive properties. This is expected to drive growth for the segment over the forecast period.
        The report analyzes the worldwide Ethylene Vinyl Acetate Resin Market across multiple regions including North America, Asia Pacific, Europe, and LAMEA. Of these, the Asia-Pacific market is expected to grow significantly and reach US$7,827.6 million during the forecast period. This growth is mainly due to rapid economic development and accelerated industrialization as a result of rising per capita income in the region. Key players in the global market
       According to the report, some of the most important players operating in the global ethylene vinyl acetate resin market include
       These players are taking various initiatives such as investment in new product launches, strategic alliances, collaborations, etc. to take a leading position in the global market.
        For example, in August 2018, Brazilian resin supplier Braskem launched an ethylene-vinyl acetate (EVA) copolymer derived from sugar cane. In addition, the report features numerous industry data such as major strategic initiatives and developments, new product launches, business performance, Porter’s Five Forces analysis, and a SWOT analysis of the most important players operating in the global market.