Analysis of EVA Foam market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The market for EVA foam witnessed massive slowdown in its progress as a result of the spread of Covid-19 pandemic across the globe. The level of demand declined to the extreme level due to lockdown creating hurdles for the key players operating in this market. However as recovery commences in 2021, major players are recuperating their positions through production expansion, capacity utilizations and online selling in 2021 keeping in view the covid-19 norms.
Leading corporations including Foamtech Ltd., Toray Plastics, Zotefoams, Trocellen, Primacel, Foam Creations, Carefoam, Armacell, Pop foam and others are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings. They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global market for EVA foam with largest market share.
For instance, in October 2020, Toray Plastics Inc., announced the launch of ToraPRO™ foam sheet in order to spread awareness and bring attention of the people towards Breast Cancer Awareness Month. The Pink colored foam gained worldwide popularity and can be used as an underlayment with laminated and hardwood flooring. In addition to this, the company donated $2500 to the Susan G. Komen® organization as an effort to research, prevent, and cure breast cancer. Asia Pacific region is expected to show a significant growth in the demand due to the increase in the increasing disposable incomes and expansion in the construction and infrastructure industry. The market in the European region is projected to be highly lucrative through 2030 because of the innovations in the automotive industry. All the other key regions are driving the market growth and opening various opportunities for manufacturers.
EVA foam, also known as ethylene-vinyl acetate foam, is produced by blending the copolymers of ethylene and vinyl acetate. Some foam additives and catalysts are also added while producing EVA foams. EVA foams are produced using the molding process. The variations in the weight percentage of its copolymers and the amount of catalyst and foaming additives vary the hardness, density, resilience, color, and other properties of EVA foams.
The closed-cell foam structure of EVA foam makes it water and moisture-resistant. Also, EVA foams have effective buoyancy due to their closed-shell structure. Their excellent buoyancy and water and moisture resistance make them very useful in the shipping and marine industries.
Through the addition of rubber and other polymeric materials, the resilience and durability of EVA foams can be increased – making them better performing materials than rubber. Attributing to the lightweight and durable nature of EVA foams, industries are using EVA foams for packaging. EVA plastic is a combination of foamed plastics and rubber blends, which are not hard plastic-type. Low and moderate-density EVA foams have natural elastic and flexible properties; however, despite these properties, they are softer than polyurethane foam, which makes them a good cushioning agent.
Along with the above properties, EVA foams also have good insulating and resistance properties. Attributing to such distinguished properties of EVA foams, they find applications in various industries such as automotive, building and construction, and medical.
Growth of population and urbanization is leading to a rise of building and construction industries. The growing construction industry is leading to an increase in the consumption of EVA foams, which in turn drives the growth of the EVA foam market. The growing automotive industry is escalating the use of EVA foams as cushioning agents in automotive seating.
Attributing to the constant research and development, EVA foams are finding vast applications in orthopedics such as ortho-prosthesis and orthopedic shoes. The growing medical field is leading to the progression of the EVA foams market. Besides the medical field, EVA foams also find applications in sports equipment, due to the cushioning properties of EVA foams, they are used as supporters or padding agents in different sports
Considering the medical advantage of EVA foams as orthopedic shoes and its waterproof nature, footwear industries are focusing on the production of EVA sole-based footwear. Therefore, growing footwear consumption will boost the EVA foam’s market.
Some of the foaming agents used in the production of EVA foam are carcinogenic, which might dip the EVA foam market. EVA foams show less efficacy against chemicals and their disposal is problematic. People tend to burn EVA foams due to the disposal problem, which leads to the emission of carcinogenic fumes. Such factors might act as restraining factors for the EVA foam market.
Western Europe holds a lion’s share in the automotive industry, which makes it a potential market zone for EVA foam. Growing construction and infrastructural development in regions such as Asia Pacific, Japan and MEA makes these regions prominent markets for EVA foams. In North America, with the resurgence of the construction industry in the last few years, the government has been making significant investments in residential schemes, owing to which this region can be considered as a budding market for EVA foam.
Key participants identified in the global EVA Foam market include,
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The global EVA foam market can segmented on the basis of production process, end use industry and application.
The global EVA foam market can be segmented on the basis of production process as,
The global EVA foam market can be segmented on the basis of end use industry as,
The global EVA foam market can be segmented on the basis of application as,
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Fact.MR
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