Europe EVA Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Europe EVA Adhesives Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Europe EVA Adhesives Market is projected to register a CAGR of 7.31%

Key Highlights

• Largest Segment by End User Industry - Packaging : Packaging is the dominant end-user industry owing to its wide applications of EVA adhesives, including cardboard sealing and joining, paper packaging, and laminating films.
• Largest Segment by Technology - Water-borne : Water-borne is the largest technology type in the market owing to its wide range of applications in the packaging industry.
• Largest Segment by Country - Germany : In the European EVA adhesives market, Germany holds the largest share owing to the strong presence of manufacturers in the country's paper and paperboard and plastic packaging sectors.
• Fastest-growing Segment by Country - Russia : Due to rapid urbanization and increasing demand for packaging solutions, Russia is likely to be the fastest-growing country in the market during the forecast period.

Key Market TrendsPackaging is the largest segment by End User Industry.

• EVA adhesives find applications in various end-user industries, including packaging, automotive, woodworking and joinery, and building and construction. These adhesives can bond substrates like paper, wood, plastics, rubbers, metals, and leather. Some major applications of these adhesives are paper/card stock boxes, package labeling, carton sealing, assembly, vehicle interiors, and paper conversion.
• The demand for EVA adhesives grew significantly from 2017 to 2019. The Spanish building and construction industry witnessed the highest growth (CAGR of 11.07% for 2017-2019) in demand among all end-user industries from all countries in the region. Increased demand from the residential sector fueled this growth in Spain.
• In 2020, the demand for EVA adhesives declined from all end-user industries because of various factors such as operational and trade restrictions, supply chain constraints, and labor shortages due to the COVID-19 pandemic. The demand from the automotive industry suffered the most, declining by 19.16% Y-o-Y. Reduced travel activity, shortage of raw materials, and various other factors also led to this decline. As the COVID-19 pandemic-induced restrictions eased, the global EVA adhesives demand rose back to pre-pandemic levels in 2021.
• This growth trend is expected to continue during the forecast period 2022-2028. In volume terms, the demand for EVA adhesives from all end-user industries combined is expected to record a CAGR of 3.61% during the forecast period. The packaging industry favors EVA adhesives over others because of their fast-curing properties and, thus, accounts for the highest share of the demand. It is expected to remain the largest end-user during the forecast period 2022-2028.

Germany is the largest segment by Country.

• EVA resin-based adhesives are made of polymers such as vinyl acetate and their derivatives. These polymers show good thermal resistance, which is why they are mainly used as hot melt technology-based adhesives. These adhesives are used in more than six regional industries, including construction, automotive, and electronics. These adhesives are consumed mainly in the building and construction industry as their non-volatile nature makes them safe for use in the construction industry. The market is witnessing growth due to growth in the construction industry, with the new floor area of Europe constructions set to reach 7.6 billion square footage in 2022 from 7.3 billion in 2021.
• The Rest of Europe regional segment occupies a major share of the European EVA resin-based adhesives market. The Rest of Europe consists of countries such as Sweden, Norway, Poland, and the Netherlands, where EVA resin-based adhesives are primarily consumed for construction applications. Residential construction in Poland increased by 30% in 2021 compared to 2020, which is also expected to boost the demand for EVA resin-based adhesives.
• Germany is the prime consumer of EVA resin-based adhesives owing to the rising construction, healthcare, and automotive industries. EVA resin-based adhesives are popular due to their strong structural properties, which can be used in many applications, such as roof repairing and automotive assemblies. About 205 thousand projects were completed in 2020, and vehicle production was expected to increase by 2.94% in 2022 from 3.3 million units in 2021. Thus, the European EVA adhesives market is expected to register growth rates of 6.90% and 5.60% by volume during 2022 and 2023, respectively.

Competitive Landscape

The Europe EVA Adhesives Market is fragmented, with the top five companies occupying 12.10%. The major players in this market are Arkema Group, Beardow Adams, Dow, Henkel AG & Co. KGaA and Jowat SE (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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