The Ethylene Vinyl Acetate market moved higher across most major regions during Q2 2026. The main reason behind this increase was the pressure created by geopolitical tensions in the Middle East. These disruptions affected the movement of petrochemical raw materials and made feedstock costs higher during the early part of the quarter.

Naphtha shipments were delayed on important trade routes, which reduced the availability of ethylene in several Asian markets. At the same time, higher natural gas costs and supply problems added to production expenses in North America. Because of these conditions, manufacturers and traders had to work with higher replacement costs, and this was reflected in market quotations.

The situation was also affected by lower operating rates at some South Korean production facilities. With fewer volumes available in the regional market, suppliers were able to maintain stronger offers. Buyers, especially those that needed material for regular production, continued purchasing despite the higher costs.

As Q2 progressed, however, the market started to change. Geopolitical conditions became less severe, and energy trade flows gradually improved. Crude oil, ethylene, and Vinyl Acetate Monomer costs began to soften. This reduced some of the pressure on producers and resulted in a correction in many markets during June.

The overall EVA price trend during the quarter therefore showed two different phases. The first part of the quarter was strongly bullish, while the final month saw a noticeable moderation in several regions. Demand from footwear, packaging, solar encapsulation, hot melt adhesives, and other applications remained an important source of market support.

South Korea Market

South Korea experienced one of the stronger increases during Q2 2026. Export values for EVA with 28% Vinyl Acetate content increased by 34.57% compared with Q1.

The rise was closely connected with problems in naphtha and ethylene supply. Delays in Middle Eastern cargoes made it more difficult for regional buyers to secure feedstock. At the same time, lower operating rates at important producers, including LG Chem, reduced the availability of finished material.

The shutdown of Lotte Chemical's Yeosu cracker added another layer of supply pressure. With fewer competitively priced cargoes available, producers maintained firm export quotations. Demand from footwear, packaging, and solar encapsulation also gave suppliers additional confidence.

In June, the South Korean market moved in the opposite direction. Export values declined by 7.37% as lower crude oil, ethylene, and Vinyl Acetate Monomer costs reduced production pressure. Buying interest from some Asian markets also weakened, while cautious procurement encouraged suppliers to become more flexible with their offers.

India Market

India recorded a 27.23% increase compared with Q1 2026 for domestically traded EVA with 28% Vinyl Acetate content. The increase was mainly linked to higher import replacement costs and tighter availability from major Asian suppliers.

South Korean and Chinese material became more expensive as geopolitical problems pushed up crude oil and feedstock costs. Reduced operating rates at some Asian plants also meant that importers had to work with firmer offers.

Local demand remained reasonably healthy. Footwear manufacturers, packaging companies, and solar-related users continued to require material, which helped suppliers maintain higher quotations even when spot availability was limited.

The market then corrected in June, when values declined by 13.78%. Lower offers from Asian suppliers reduced replacement costs for Indian buyers. Better material availability, softer feedstock values, and cautious purchasing by downstream converters also put pressure on transaction levels.

China Market

China's domestic EVA market increased by 16.62% in Q2 compared with the previous quarter. The rise was supported by tighter ethylene availability and higher production costs.

Reduced refinery throughput at Zhejiang Petroleum & Chemical contributed to the pressure on feedstock supply. Delays in ethylene imports from South Korea also affected availability after force majeure was reported at Yeochun NCC.

During the stronger part of the quarter, the market received support from steady demand in footwear, packaging, and photovoltaic applications. Supply and demand were relatively balanced, allowing sellers to maintain firm offers.

June brought a much sharper correction. Domestic values declined by 15.43% as geopolitical pressure eased and crude oil, naphtha, ethylene, and Vinyl Acetate Monomer costs moved lower. Comfortable inventories and resistance from buyers made it harder for suppliers to keep earlier price levels. Many buyers also preferred to wait before making large purchases because they expected further corrections.

Indonesia and Bangladesh Markets

Indonesia recorded a 33.40% increase in Q2 compared with Q1. The market was strongly influenced by higher South Korean export offers and increased import replacement costs.

Importers were still replenishing stocks because demand from footwear, packaging, and solar encapsulation remained steady. However, the higher cost of securing cargoes made purchasing more expensive.

In June, Indonesian values declined by 7.14%. Improving geopolitical conditions helped reduce pressure on crude oil and major feedstocks. South Korean export offers also became more competitive, while better cargo availability and cautious buying reduced replacement costs.

Bangladesh saw a 31.90% quarterly increase. The country's import market was heavily influenced by South Korean export quotations because South Korea remained an important source of material. Limited cargo availability and higher regional feedstock costs pushed procurement expenses higher.

Demand from footwear, packaging, and adhesive manufacturing continued to support buying activity. In June, however, values declined by 6.77%. Lower Korean export offers, reduced feedstock costs, and delayed purchasing decisions from buyers led to softer import transactions.

Saudi Arabia Market

Saudi Arabia recorded the largest quarterly increase among the markets covered, with EVA export values rising by 37.59% compared with Q1 2026.

The market faced significant supply pressure because of disruptions across the regional petrochemical industry. Constraints at SABIC's Jubail complex, the prolonged shutdown at Sadara Chemical Company, and force majeure affecting regional ethylene production all contributed to tighter availability.

Asian buyers continued to show interest in Saudi material, which allowed producers to maintain higher export quotations. The combination of limited supply and firm demand created a strong market environment during most of the quarter.

June brought a 9.86% decline. Improving geopolitical conditions reduced the cost pressure coming from crude oil and feedstocks. Asian buying interest also became weaker, while comfortable inventories and more competitive offers encouraged a downward adjustment in export values.

USA and Mexico Markets

The U.S. EVA market increased by 34.55% in Q2 compared with Q1. Higher natural gas and ethylene costs raised manufacturing expenses for domestic producers.

Middle East supply disruptions also tightened global ethylene availability. Lower exports from Saudi Arabia increased interest in U.S. cargoes from buyers in Europe and Asia. Strong export inquiries, combined with higher production costs, kept U.S. quotations firm during the quarter.

In June, U.S. values declined by 4.47%. Better global energy supply conditions reduced pressure on crude oil and feedstock costs. At the same time, weaker demand from packaging and footwear users, sufficient inventories, and cautious buying encouraged suppliers to offer more competitive export values.

Mexico followed a similar direction. Import values increased by 33.45% during Q2 as higher U.S. export quotations and freight costs increased the landed cost of imported material. Demand from packaging, footwear, and adhesive applications remained steady, encouraging importers to replenish stocks.

During June, Mexican values declined by 4.31%. Lower U.S. FOB offers, softer ethylene and Vinyl Acetate Monomer costs, and better cargo availability reduced landed replacement costs. Buyers also remained cautious about making fresh bookings because they expected additional market corrections.

Belgium Market

Belgium experienced the most dramatic increase in the quarter. Domestic EVA values rose by 107.43% compared with Q1 2026.

The European market was heavily affected by energy and feedstock disruptions. LNG supply problems following force majeure declared by Qatar Energy, along with difficulties affecting cargo movement through the Strait of Hormuz, increased pressure on energy availability.

These conditions pushed ethylene and VAM production costs higher. Negative cracker margins and limited import availability made the European market even tighter. Producers raised their offers several times during the quarter, keeping domestic values at elevated levels.

The market finally started to correct in June. Values declined by 6.41% as geopolitical conditions improved and shipping through the Strait of Hormuz became easier. Lower crude oil, naphtha, ethylene, and VAM costs removed some of the earlier support. Sluggish downstream demand and cautious purchasing also encouraged suppliers to reduce offers.

Overall Market Outlook

The Q2 2026 market shows how quickly EVA values can react when feedstock availability, energy costs, shipping, and regional supply conditions change at the same time. The sharp increases seen across South Korea, India, China, Indonesia, Bangladesh, Saudi Arabia, the USA, Mexico, and Belgium were largely connected with supply disruption and higher production economics rather than a sudden change in one single end-use sector.

At the same time, the June corrections show that these markets can also move lower once the supply situation improves. Softer crude oil and feedstock costs, better shipping conditions, improved cargo availability, and cautious downstream buying all contributed to the change in direction.

For buyers, the quarter highlighted the importance of watching feedstock markets and international logistics alongside local demand. The movement of ethylene and Vinyl Acetate Monomer costs can have a direct influence on production economics, while freight and import availability can make a significant difference in markets that depend heavily on overseas material.

Demand from footwear, flexible packaging, solar encapsulation, adhesives, and other applications continued to provide a basic level of support. However, the June corrections suggest that buyers were becoming more careful about inventory and were unwilling to chase the high values seen earlier in the quarter.

Going forward, the balance between feedstock costs, producer operating rates, international cargo availability, and downstream purchasing will remain important. If energy and shipping conditions remain stable, the extreme upward pressure seen during the early part of Q2 could continue to ease. On the other hand, any new disruption to petrochemical supply chains could quickly bring fresh cost pressure back into the market.

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About Price Watch™

Price Watch™ is an India-based, independent raw material price reporting agency that provides real-time price forecasts and data-driven insights into global raw material markets. Price Watch™ specializes in tracking raw material prices, analyzing market trends, and delivering timely updates on plant shutdowns, supply disruptions, capacity expansions, and demand-supply dynamics. The Price Watch™ platform empowers manufacturers, traders, and procurement professionals to make faster, smarter decisions. Leveraging AI-powered forecasting and over a decade of historical data, Price Watch™ transforms market volatility into actionable opportunity.

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