Press Release

The EVA Resins & Films market was valued at US$ 34.3 Bn in 2021 and is projected to reach US$ 68.5 Bn by 2030, at a CAGR of 8.6%.

Bio-based EVA resins are gaining popularity in children's footwear. To expand their product range in renewable chemicals, deep-pocketed petrochemical companies are strengthening R&D for EVA manufactured from sugarcane, which is gaining traction in the automotive, footwear, and transportation industries. The global EVA resins and films market is benefiting from such breakthroughs.

Renewable EVA resins and films have received a lot of attention for their ability to minimise greenhouse gas emissions by capturing carbon dioxide (CO2) during the manufacturing process. Chemical firms are forming strategic alliances to incorporate bio-based EVA polymers into footwear for insole manufacture. As a result, firms in the EVA resins and films market are expanding their manufacturing capacities in order to improve the availability of renewable chemicals that assist conserve natural resources. Bio-based EVA resins and films are available.

Solar panels with EVA resins and films have a higher level of durability and performance. EVA films, on the other hand, are not resistant to high temperatures and must be covered with a protective front glass to prevent any damage. As a result, solar panel producers in the EVA resins & films market are increasingly conscious of the importance of floating the EVA film between the front protective glass and the backsheet to prevent solar panels from being damaged. EVA hot melt adhesives are one of the most extensively used, popular, and economical industrial hot melt adhesives. They adhere to a wide range of cellulosic materials and come in a variety of formulations. They have a low cost, but they also have a bad performance. They have low creep resistance under load, like most other hot melts. During the projected period, the hot melt adhesives segment is expected to grow at a stable rate.

Sound insulation glass (sound reduction index of at least 36 dB), fire-protection glass (better fire-resistance than PVB), and laminated safety glass can all be made with EVA film lamination. As a result, the glass lamination market is expected to grow at a stable rate over the forecast period. 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.

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.  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. 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.

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. 

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