Global EVA Resins & Films Market Size, Share, and COVID-19 Impact Analysis, By Type (EVA Resins (Polyethylene (low VA density), Thermoplastic (medium VA density), Rubber (high VA density)) & EVA Films (Normal EVA Films, Anti-PID Films), By Application (Solar Cell Encapsulation, Laminated Glass, Automotive parts, Wire & Cable, Agriculture, Cosmetics, Hot Melt Adhesives, Extrusion Casting & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The EVA Resins & Films market was valued at US$ 4.3 Bn in 2021 and is projected to reach US$ 7.4 Bn by 2030, at a CAGR of 5.3%. EVA films, also known as ethylene vinyl acetate films, are made up of copolymers of ethylene vinyl acetate plus additives. Toughness, impact resistance, durability, strength, transparency, bonding strength, moisture resistance, and high elongation at break are all features of these films. It is used in the building and automotive industries to provide safety, insulation, anti-UV characteristics, and sound insulation.
Vinyl acetate monomer and ethylene are used to make EVA resins. They have improved stress crack resistance and can keep their flexibility without the use of plasticizers throughout a wide temperature range of 60°C to 150°C. Because of their qualities such as a high coefficient of friction, low seal initiation temperatures, and great impact resistance, they are widely utilised in the packaging and paper industries, as well as the electrical and electronic industries. The expansion of the global EVA resins market is fueled by the development of the packaging and electronic sectors, as well as an increase in demand for packaging materials and consumer electronics in emerging nations.
COVID-19 ANALYSIS
The global EVA resins & films market is negatively impacted with the outbreak of COVID-19. The outbreak's consequences and impact are expected to intensify in the coming months as the virus spreads. Several governments of few countries are considering national-level lockdowns as a viable means of controlling viral transmission. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdown, temporary shutdown, social distancing, caused disruption in production of raw materials and in turn increased costing of raw materials. Shipments of raw materials, as well as revenue produced have fallen. Furthermore, insufficient raw material supply will limit the rate of EVA Resins & Films, influencing the management of the EVA Resins & Films supply chain. This chain of occurrences is expected to have a negative influence on the growth of the EVA Resins & Films market in the future years.
LATEST TREND
Increasing Usage of EVA Film in Agriculture and Solar Cells
The solar cell encapsulation segment is expected to dominate the global EVA resins & films market. Due to their widespread use in solar cells, ethylene vinyl acetate (EVA) encapsulating materials have gotten a lot of attention. EVA polymers are used to enclose over 80% of photovoltaic (PV) modules. EVA provides a number of benefits, including outstanding light transmission and flexibility, low processing temperatures, excellent melt fluidity, and adhesive properties. Solar EVA sheets are essential for extending the life and performance of solar panels. They let solar cells to float between the glass and the backsheet, absorbing shocks and protecting the cells and their circuitry.
DRIVING FACTORS
Rising Number of Applications Among Different End-Users
EVA is commonly used in foams because of its capacity to impart robustness and softness. EVA foams are mostly used in footwear. EVA foams are commonly used in wedge soles, moulded soles, runners, and top-line cushioning in the footwear industry.
RESTRAINTS
Concerns Pertaining to Fluctuating prices of Raw Materials
Fluctuating prices of raw materials will hamper the market growth. Moreover, lack of awareness of different applications might also be limiting the market growth.
SEGMENTATION
The global EVA Resins & Films market is segmented by Type (EVA Resins (Polyethylene (low VA density), Thermoplastic (medium VA density), Rubber (high VA density)) & EVA Films (Normal EVA Films, Anti-PID Films), By Application (Solar Cell Encapsulation, Laminated Glass, Automotive parts, Wire & Cable, Agriculture, Cosmetics, Hot Melt Adhesives, Extrusion Casting & Others) and region. Based on the type, the market is categorized into EVA resins & EVA films. Based on application, the market is categorized into solar cell encapsulation, laminated glass, automotive parts, wire & cable, agriculture, cosmetics, hot melt adhesives, extrusion casting & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
Type Insights
Based on the type segment, the global EVA Resins & Films market is categorized into EVA resins & EVA films. The EVA films segment accounted largest market share in 2020. EVA-based foam has a fine, homogenous cell structure, allowing it to be handled in the same way as other thermoplastics. It preserves its pliability and resilience, recovers quickly from compressions, and absorbs colours. Foam is pressed into a mould, resulting in a closed cell foam sheet.
Application Insights
Based on the application segment, the global EVA Resins & Films market is categorized into solar cell encapsulation, laminated glass, automotive parts, ambulatory service centers, & others. The solar cell encapsulation segment accounted largest market share in 2020 due to the widespread use in solar cells, ethylene vinyl acetate (EVA) encapsulating materials have gotten a lot of attention. EVA polymers are used to enclose over 80% of photovoltaic (PV) modules. EVA provides a number of benefits, including outstanding light transmission and flexibility, low processing temperatures, excellent melt fluidity, and adhesive properties.
REGIONAL INSIGHTS
The global EVA Resins & Films market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America is expected to dominate the market share of global EVA resins & films market. Presence of major players and rising adoption of green energy and renewable sources is likely to propel the growth of the region. Packaging and paper, automotive, footwear, solar panels, and pharmaceutical industries have all grown in recent years. Increased demand for ethylene vinyl acetate resin in the region has resulted from an increase in demand for packaging materials, electric autos, and photovoltaic panels for the production of solar energy. However, Europe region is anticipated to grow over the next few years of global EVA resins & films market owing to the increased demand for EVA resins and films in foam and solar cell encapsulation applications in Germany.
KEY INDUSTRY
· Arkema S.A.
· The Dow Chemical Company
· International Polymers Company (IPC)
· Exxon Mobil Corporation
· LyondellBasell Industries Holdings B.V
· Oryza Oil & Fat Chemical Co., Ltd.
· Braskem
· LG Chem Ltd.
· Celanese Corporation
· Hanwha Solutions
· Folienwerk Wolfen GmbH
· SANVIC INC. (KANEKA CORPORATION)
· LOTTE ALUMINIUM
· 3M
· Dr. Dietrich Mueller UK Limited
· Lucent CleanEnergy
· SKC
· Changzhou Bbetter Film Technologies Co., Ltd.
· Zhejiang Sinopont Technology Co., Ltd.
· Mitsui Chemicals Tohcello, Inc.
· Interlayer Solutions Inc.
· Others
SEGMENTATION
By Type
- EVA Resins
- Polyethylene (low VA density)
- Thermoplastic (medium VA density)
- Rubber (high VA density)
- EVA Films
- Normal EVA Films
- Anti-PID Films
By Application
- Solar Cell Encapsulation
- Laminated Glass
- Automotive parts
- Wire & Cable
- Agriculture
- Cosmetics
- Hot Melt Adhesives
- Extrusion Casting
- Others
By Region
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy
- Asia-Pacific- China, Japan, India
- Latin America- Brazil, Argentina, Colombia
- The Middle East and Africa- United Arab Emirates, Saudi Arabia
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Global EVA Resins Films Market Size
- June-2022
- 140
- Global
- Chemicals-and-Advanced-Materials
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