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Market Research Report

India Ethylene Vinyl Acetate (EVA) Market: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030

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India Ethylene Vinyl Acetate (EVA) Market: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030
Published: May 20, 2020 Content info: 58 Pages
Description

Ethylene Vinyl Acetate (EVA) demand in India stood at 178 KTPA in 2019 and is expected to grow at a healthy CAGR of 5.25% during the forecast period. EVA is a specialty copolymer of LDPE utilizing Ethylene and Vinyl Acetate as feedstocks. In India EVA is primarily consumed as an adhesive in the production of sole in leather and foam industry. Moreover, electrical and electronic industry also accounts for a high share of consumption in manufacturing of protective solar panel films and photovoltaic cell owing to the high transparency and adhesion it offers to the glass surface. In addition, demand for EVA is also widely consumed as a solvent in paint and coating industry and in automotive industry for producing automotive bumpers and molded automotive parts. The outbreak of Coronavirus in Q4 of FY 20 has led to an astonishing slump in the consumption of EVA as demand from its major end user industries like paints and coating and automotive was negatively affected by the halt in manufacturing activities put up in compliance to the government norms to contain the spread of virus. However, the demand for EVA is likely to recover in the coming years on rising stress on renewable energy resources, thereby leading to an enhanced production of solar units requiring the utilization of EVA sheets. The anti-dumping on imports of EVA sheets imposed by the government in 2019 over countries like Saudi Arabia, Malaysia, Thailand and China is further anticipated to propel the consumption of EVA resin in the domestic market for the production of EVA sheets in India. Moreover, growing demand for EVA to produce flexible packaging owing to its high impact strength, is to emerge as a potential segment to soar the demand for the product in the forecast period as people are keener to rely on single-use plastic packaging to exempt any risk of virus.

Currently, Reliance Industries Limited is sole manufacturer of EVA in domestic market and the company increased its installed capacity in 2017 at Dahej Petrochemical complex to fulfil the growing domestic EVA demand. The company uses advanced LyondellBasell's Lupotech technology for manufacturing of the product. Owing to the presence of a single manufacturer, yearly production of EVA in India is less in comparison to the total demand. Due to limited production of EVA in India, the country is primarily dependent on imports from countries such as South Korea, Thailand, Belgium, Taiwan, France etc. to cater to the domestic demand. Although the India EVA market prompts tremendous opportunities for new players, but high capital investment and complex processing involved in the production of EVA are major challenges to market-entry.

EVA can be categorized in various grades depending on the percentage of Vinyl Acetate. The most demanded grade in EVA contains 18% Vinyl Acetate and is highly demanded for foaming application in leather industry. EVA with Vinyl Acetate content of 28% is the second most favorable EVA grade owing to its massive demand in paints and coating industry. The demand for 18% Vinyl Acetate Grade for EVA is likely to propel in the coming years on rapid industrialization and increasing demand for leather accessories in various industries.

Years Considered for this Report:

Historical Years: 2015 - 2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022 - 2030

Objective of the Study:

  • The primary objective of the study was to evaluate and forecast EVA production, demand, inventory, and demand - supply gap in India.
  • To categorize demand for EVA based on end use, grades, sales channel and region.
  • To study trade dynamics and company share in India EVA market.
  • To identify major customers of EVA in India.
  • To evaluate and forecast EVA pricing in India.
  • To identify and profile major companies operating in India EVA market.
  • To identify major developments, deals and expansion plans in India EVA market.

As Reliance Industries Limited is the only major player engaged in the production of EVA in India, a significant percentage of demand for the product is met through imports. The massive demand for EVA in the country embarks high opportunity for new players to emerge in the domestic market. Some other companies operating in India EVA Market are Hanwha Group, LG Chem, TPI Polene, Saudi International Petrochemical Company (Sipchem), The Dow Chemical Company, Biesterfeld AG, Lotte Chemical Corporation, Arkema S.A., Celansese Corporation, Exxon Mobil etc.

As EVA is a crude oil derivative, prices of EVA in the domestic market are highly susceptible to the prices of its feedstock that are derived from crude oil. The unprecedent plunge in the prices of crude oil primarily due to rift between OPEC countries followed by high inventory build up on reduced demand affected by halt in travel and transport activities to grapple Coronavirus has further slumped the prices of its derivatives like benzene, ethylene and others. Despite of reduction in prices of its feedstock, prices of EVA (18% Vinyl Acetate) remained stable in FY 20 with a marginal increment of around 1 per cent from previous financial year on account of consistent demand from leather and foaming industry.

To extract data for India EVA market, primary research surveys were conducted with manufacturers, suppliers, distributors, wholesalers and end users of EVA. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for India EVA market over the coming years.

ChemAnalyst calculated demand for EVA in India by analyzing the historical data and demand forecast was carried out considering the imports, consumption pattern and analyzing the demand by tracking upcoming manufacturing units. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports and annual reports were also studied by ChemAnalyst.

Key Target Audience:

  • EVA manufacturers and other stakeholders
  • Organizations, forums and alliances related to EVA distribution
  • Government bodies such as regulating authorities and policy makers
  • Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as EVA manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.

Report Scope:

In this report, the India EVA market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, by Grade- Less than 18% (VA Content), 18% (VA Content), 28% (VA Content) and Above 28% (VA Content)

Market, by End Use- Leather and Foaming, Paint and Coating, Electrical and Electronics, Automotive and Others

Market, by Distribution Channel- Direct/Institutional Sales, Retail Sales, Other Channel Sales

Market, by Region- North, West, East and South

Available Customizations:

With the given market data, ChemAnalyst offers customizations according to a company's specific needs.

Table of Contents

Table of Contents

1. Manufacturing Process & Technology Licensing Evaluation

2. India EVA Demand-Supply Gap Outlook, By Volume

  • 2.1. Capacity, By Company
  • 2.2. Capacity, By Location
  • 2.3. Capacity, By Technology
  • 2.4. Production, By Company
  • 2.5. Operating Efficiency, By Company
  • 2.6. Country-Wise Import
  • 2.7. Country-Wise Export
  • 2.8. Demand-Supply Gap

3. India EVA Demand Outlook

  • 3.1. By Grade
  • 3.2. By End Use
  • 3.3. By Distribution Channel
  • 3.4. By Region / State
  • 3.5. By Company

4. Customer Analysis

  • 4.1. Procurement Volume
  • 4.2. Procurement Prices
  • 4.3. Existing Supplier
  • 4.4. Contact Details

5. Cost Structure

  • 5.1. Raw Material Cost
  • 5.2. Selling & Distribution Cost
  • 5.3. Fixed Cost
  • 5.4. Other Cost

6. Market Trends & Developments (Focus on emerging application and manufacturing technologies

7. Grade-Wise & Company-Wise Pricing Analysis (Monthly)

  • 7.1. Historical Prices (Domestic, CFR)
  • 7.2. Forecast

8. Competitive Landscape (Top 10 Companies in terms of revenue share)

  • 8.1. Company Profiles
    • 8.1.1. Key Financial Matrices
    • 8.1.2. Margin Analysis
    • 8.1.3. SWOT Analysis
    • 8.1.4. Key Market Focus and Geographical Presence
    • 8.1.5. Planned Investments
    • 8.1.6. Collaborations
    • 8.1.7. Technology Licensing
    • 8.1.8. Expansion Plan

9. Project Viability Analysis

10. Strategic Recommendations

11. About Us & Disclaimer

List of Figures

  • Figure 1: Company-Wise Capacity of India EVA Market, 2015-2030F (KT)
  • Figure 2: Location-Wise Capacity of India EVA Market, 2015-2030F (KT)
  • Figure 3: Process/Technology-Wise Capacity of India EVA Market, 2015-2030F (KT)
  • Figure 4: Company-Wise Production of India EVA Market, 2015-2030F (KT)
  • Figure 5: Company-Wise Operating Efficiency of India EVA Market, 2015-2030F (%)
  • Figure 6: India EVA Trade Surplus/Deficit, By Volume (KT), 2015-2020
  • Figure 7: India EVA Demand Market Share, By Grade, 2015-2030F (%)
  • Figure 8: India EVA Demand Market Share, By End Use, 2015-2030F (%)
  • Figure 9: India EVA Demand Market Share, By Distribution Channel, 2015-2030F (%)
  • Figure 10: India EVA Demand Market Share, By Region, 2015-2030F (%)
  • Figure 11: India EVA Demand Market Share, By Company, 2020 & 2021E (%)
  • Figure 12: India EVA Recent News / Deals

List of Tables

  • Table 1: India EVA Trade Dynamics, Country-Wise Import, 2015-2020

(Value in INR Million & Volume in KT)

  • Table 2: India EVA Trade Dynamics, Country-Wise Export, 2015-2020

(Value in INR Million & Volume in KT)

  • Table 3: Customer Analysis of India EVA Market, 2020
  • Table 4: Supplier Cost Structure Analysis of India EVA Market, 2019 & 2020
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