TAGS: Hot-melt Adhesives
In terms of value, Transparency Market Research (TMR) anticipates that the global and Asia Pacific ethylene vinyl acetate market is expected to cross USD 7.3 Bn by 2030, expanding at a CAGR of ~6 percent from 2020 to 2030 during the forecast period.
EVA-based HMAs Ideal for Packaging Industry
Ethylene vinyl acetate-based hot-melt adhesives are widely used solvent-free polymers. These adhesives do not utilize water or solvents to acquire their adhesive properties. This allows them a fast set time, long shelf life, and functionality in a wide range of temperatures.
Ethylene vinyl acetate (EVA) hot melt adhesives are used in a wide range of industries for various applications due to their versatility, dependability, and durability. These industries include paper, woodworking, assembly, and automotive. Ethylene vinyl acetate adhesives are specifically formulated to adhere to waxes, paper, paper stock, and various aqueous coatings. Ethylene vinyl acetate hot melt adhesives are ideal for usage in the packaging industry.
Ethylene vinyl acetate is gaining popularity owing to their characteristics such as, elasticity, flexibility, excellent adhesion, good compatibility, good low temperature resistance, and greater solubility in organic solvents.
Highest Growth in Asia Pacific Region
Asia Pacific dominated the global ethylene vinyl acetate market in terms of volume in 2019. It is estimated to be the leading region of the global ethylene vinyl acetate market during the forecast period. Footwear and packaging industries are projected to offer lucrative opportunities to the global and Asia Pacific ethylene vinyl acetate market soon.
Ethylene and vinyl acetate monomers are primary raw materials used in the manufacture of ethylene vinyl acetate. However, the cost of these raw materials has been fluctuating significantly since the past few years. Vinyl acetate monomer is obtained from acetic acid.
The cost of acetic acid has been unstable since the past few years. On the other hand, ethylene is obtained from crude oil. Hence, the price of crude oil and acetic acid has high impact on the cost of raw materials. This affects the price of ethylene vinyl acetate. Therefore, the global and Asia Pacific ethylene vinyl acetate market is anticipated to be hampered by the volatility in prices of raw materials.
Source: Transparency Market Research