LONDON, July 8, 2022 /PRNewswire/ -- The ethylene vinyl acetate (EVA) market is experiencing volatility with prices at record highs, coupled with tight supply caused by global outages. The need for context and clarity of market conditions has never been more important, to enable businesses to make better informed investment and planning decisions.
ICIS, a global leader in independent commodity intelligence services for plastics and polymers, now provides a European EVA price assessment, along with deeper coverage in Asia-Pacific. Weekly pricing analysis, assessments, insight, supply and demand drivers, a short-term outlook, as well as intelligence on upstream markets, provide a comprehensive and transparent market perspective
Redwan Hoque, Head of Commercial Strategy – Chemicals, at ICIS said: "The experience ICIS provides, along with our market relationships and proven methodology, means the EVA price assessment service provides a comprehensive and trusted understanding of the factors that impact this volatile market. Insights enable smart production and selling decisions and facilitate effective risk management with evaluation of the impact of new capacities or plant disruptions."
The launch of global EVA coverage, together with ICIS' three global benchmarks that influence EVA prices: polyethylene (PE), acetic acid, and vinyl acetate monomer, will provide the industry with unprecedented transparency and a deeper understanding of the key drivers across the entire PE sector.
Alongside the release of a European EVA price assessment, ICIS Asia coverage now includes three additional domestic China grades, based on VA content. US pricing coverage will follow shortly, making this the first global EVA pricing assessment service.
Notes to editors:
About ethylene vinyl acetate (EVA)
EVA polymer is widely used as a co-polymer to make polyethylene more flexible. It is produced using the same process as low-density polyethylene (LDPE). Production can be easily switched between the EVA and LDPE, depending on which is more profitable. EVA is a highly versatile and is valued for its high elasticity, sealability, low melting point, and clarity. Applications include everything from car wax, mouldable mouthguards, and foam shoes to nicotine patches, adhesive resin formulations, wire and electrical cables compounding, and solar panels.
ICIS follows the Asian EVA market closely, on a weekly basis, to enable consumers to understand current pricing volatility. Demand in China is partly driven by the country's low carbon policy. High VA grades are the encapsulating agent in solar panels, providing good radiation transmission and low degradability in sunlight. New domestic capacity in China was launched in 2021 and suppliers with 'swing' plants needed to know when to switch from LDPE to EVA in response to demand and higher margins. LDPE in China was already exceptionally tight at record high prices. Switching has left both grades at unprecedented levels.
In Europe, EVA continues to be traded at close to record high prices. Trade flows have been heavily disrupted by logistics and supply chain issues that continue to plague industries globally. Supply and demand balances have pushed price spreads between EVA and PE much further, more than doubling from normal levels. Prolonged high oil prices are further affecting the cost of feedstocks. This creates shortages of EVA feedstock materials. Local production is also reduced because of planned ethylene cracker outages.
About ICIS
ICIS is a trusted source of global commodity intelligence for the energy, chemical and fertilizer industry. We are a division of RELX, a FTSE 15 company with a market cap of £43.4 billion and an employee base of over 30,000 experts across 40 countries.
At ICIS, we help businesses make strategic decisions, mitigate risk, improve productivity, and capitalise on new opportunities. We make some of the world's most important markets more trusted and predictable by providing data services, thought leadership and decision tools. As a result of our unmatched global presence, we can deliver targeted connected intelligence to influence thousands of decisions across supply chains every single day. We shape the world by connecting markets to optimise the world's valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £43.3bn | €51.1bn | $51.9bn.
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SOURCE ICIS
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