Global EVA Resins & EVA Films Markets, 2023-2024 & 2028: Increasing Demand from Various End-User Industries, Including the the Solar Power Industry Provides Ray of Light for Market Growth

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Aug 29, 2023, 10:15 ET

DUBLIN, Aug. 29, 2023 /PRNewswire/ -- The "EVA Resins & EVA Films Market, 2028 - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Application, By Type, By Region, By Competition" report has been added to ResearchAndMarkets.com's offering.

Global EVA Resins & EVA Films Market is anticipated to witness a robust CAGR in the forecast period 2024-2028

Due to their exceptional adhesive qualities, transparency, and high thermal stability, EVA resins and films are becoming more and more common in the glass lamination sector. EVA films melt when heated and flow into the crevices between the glass panes, where they cool and solidify to form a bond.

A laminated glass structure is the result, and it has excellent durability, safety, and noise reduction qualities. Extreme temperature resistance is one of the key benefits of employing EVA resins and films in glass lamination. EVA films can be used to laminate glass panes in high-temperature situations because of their melting point, which is between 80 and 110 C. EVA films are additionally resistant to moisture, UV rays, and other environmental elements that could eventually cause harm.

Applications of EVA in lightweight and cutting-edge packaging options from the food industry are collectively driving the market. Due to its benefits, such as being lightweight and simple to open, carry, store, reseal, easy transport, and less waste generation, etc., the need for flexible packaging is increasing.

Furthermore, the most typical encapsulation used in the solar industry is cross-linkable ethylene vinyl acetate (EVA). The cells are laminated between films of EVA with the aid of a lamination machine under a compressed vacuum. A high-pressure reactor is used to co-polymerize the monomers of ethylene and vinyl acetate to create thermoplastic resin ethylene-vinyl acetate.

It has several benefits, including outstanding heat seal strength, great flexibility even at low temperatures, durability, and crack resistance. Moreover, it is simple to process using traditional thermoplastic methods. This technique is carried out in environments that can reach 150 C. EVA film comes in a variety of hues in addition to clear and white, and there is no plasticizer in it. The interlayer of EVA film is always placed between two sheets of glass or plastic, and it has a smooth, non-stick surface.

EVA has many uses in the film industry. Often, this resin is mixed with other film resins rather than being used alone. Significant uses include wire and cable insulation, solar encapsulation, meat and dairy packaging structures, and glass lamination for improved impact resistance. However, EVA has been replaced by metallocene PE in many of these applications since it is a poor choice for food packaging applications due to its average gas and moisture barrier properties. Furthermore, metallocene PE provides quicker hot tack and improved downgauging capabilities, enabling thinner packaging and films.

Besides this, EVA films cannot be used for UV screening because they are not UV-resistant. The ethylene vinyl acetate sheets, once laminated, are crucial in keeping dust and moisture from getting inside the solar panels. The arrangement dampens shocks and vibrations, shielding the solar cells and their circuitry from harm. Also, it prolongs the life of solar cells by preventing oxygen and other gases from oxidizing the cell while it is performing its usual power-generating function.

Apart from these, favorable government policies for EVA Resins & EVA Films and technological advancement for new applications propel the EVA Resins & EVA Films market in the forecasted period. Further, the excellent characteristics of EVA resin, such as its high impact strength, low coefficient of friction, and outstanding abrasion resistance, are boosting its demand in a variety of applications. During the forecast period, the ethylene-vinyl acetate (EVA) resin market is anticipated to increase because of rising demand from end-use sectors like packaging, automotive, and construction.

Increasing Demand from Various End-User Industries

EVA resins & EVA films have widespread usage, such as in biomedical engineering, where ethylene-vinyl acetate is extensively employed as a drug delivery system. EVA is frequently referred to as foam rubber or expanded rubber. It serves as padding for a variety of sporting goods, including ski boots, bicycle saddles, hockey pads, gloves, and helmets.

Ethylene-vinyl acetate is also used in the photovoltaic industry as the material for solar cells is made of crystalline silicon. EVA is also frequently used in films, toys, athletic goods, flexible packaging, automobile bumpers, flexible hoses, footwear components, and other products.

Rising Demand from Solar Power Industry

EVA has a low photo degradability in sunlight and strong radiation transmission. As a result, it has many applications in solar cells, including as an encapsulating agent. When heat is applied to the assembly, a sealing and insulating layer is formed around the solar cells. EVA has several benefits, such as good light transmittance and elasticity, a low processing temperature, good fluidity, and adhesive properties.

According to Saur Energy International Magazine, the importance of EVA sheets in solar modules is clearly and directly correlated with the demand for solar PV. In 2021, annual PV demand was 173 GW which boosted the demand for EVA Films and Resins. Moreover, about 80% of photovoltaic (PV) modules are encapsulated in EVA materials, and the cost of EVA is also low, which makes it very suitable as a solar cell encapsulation material.

Recent Developments

Recently, in 2023, SVECK, an EVA film supplier, announced plans to build a production plant for EVA. They will build the new factory in two phases in Yancheng, China's Jiangsu, and the plant will have a total production capacity of 420 million square meters. The first phase will have a capacity of 120 million square meters across 16 production lines, and the second phase will have a total capacity of 300 million square meters with 40 production lines.

In September 2022, Hanwha Solutions Corporation announced that it will use LyondellBasell Lupotech T high-pressure polyethylene technology to produce 300 kilotonnes of vinyl acetate copolymer EVA per year at a new site in Yeosu, South Korea.

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the Global EVA resins & EVA Films Market.

Arkema S.A.
The Dow Chemical Company
International Polymers Company
Exxon Mobil Corporation
LG Chem Ltd
The 3m company
Hanwha Solutions Corporation
LyondellBasell Industries N.V.
Mitsui Chemicals Tohcello, Inc.
Zhejiang Sinopont Technology Co., Ltd.

Report Scope:

EVA Resins & EVA Films Market, By Application:

Solar Cell Encapsulation
Thin-Film Solar Cells
Crystalline Solar Cells
Glass Lamination
Cosmetics
Agriculture
Others

EVA Resins & EVA Films Market, By Type:

Vinyl Acetate-modified Polyethylene (Low VA Density)
Thermoplastic Ethylene Vinyl Acetate (Medium VA Density)
Ethylene Vinyl Acetate Rubber (High VA Density)

EVA Resins & EVA Films Market, By Region:

Europe
France
Germany
United Kingdom
Italy
Asia-Pacific
China
India
Japan
Australia
South Korea
North America
United States
Canada
Mexico
Middle East and Africa
Saudi Arabia
UAE
Qatar
South America
Brazil
Argentina
Colombia

For more information about this report visit https://www.researchandmarkets.com/r/xmnmpn

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