Renewable EVA Resins Generate Revenue Streams in Footwear Production

Bio-based EVA (Ethylene Vinyl Acetate) resins are gaining popularity in children’s footwear segment. For instance, Braskem— a Brazilian petrochemical company, announced the launch of its EVA made from sugarcane and is acquiring applicability in automotive, footwear, and transportation sectors to develop its product portfolio in renewable chemicals segment. Such innovations are boosting the revenue of the global EVA resins & films market.

Renewable EVA resins & films are being highly publicized to reduce greenhouse gas emissions, since these resins capture the carbon dioxide (CO2) during its production process. Chemical companies are entering into strategic partnerships to introduce bio-based EVA resins in footwear for the production of insoles. Thus, companies in the EVA resins & films market are increasing their production capabilities to increase the availability of renewable chemicals that help save natural resources. Bio-based EVA resins & films are significantly reducing the carbon footprint in the environment.

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Solar Panel Manufacturers Make Design Improvements to Prevent Any Damages to EVA Films

The ever-evolving construction industry is creating value-grab opportunities for companies in the EVA resins & films market. As such, EVA laminated glass films have a stable demand in the construction industry. Likewise, EVA films are being extensively used as sealants in photovoltaic solar modules for the construction of solar panels. These laminating films help to capture the solar cells and keep them vacuumed under the panel. Thus, apart from cosmetics and agriculture, EVA resins & films are becoming increasingly commonplace in the solar industry.

EVA resins & films help to increase the durability and performance levels of solar panels. However, EVA films lacks resistance toward high temperatures and demands to be covered by a protective front glass in order to avoid any damages from occurring. Hence, solar panel manufacturers in the EVA resins & films market are becoming increasingly aware to float the EVA film between the front protective glass and the back sheet to prevent any damages that may be caused to solar panels.

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Italian Manufacturers Invest in R&D to Meet Extraordinary Project Requirements of Customers

Companies in the EVA resins & films market are investing in advanced extrusion lines to deliver high-quality products for customers. Moreover, manufacturers are increasing their research spending to understand the dynamics of quality control in products that suit specific requirements of clients. For instance, Satinal Group— an Italian pioneer of EVA-based interlayers, announced an investment of 1,500,000 EUR plant to expand their product portfolio in EVA resins & films.

A large share of EVA resin & film materials is sourced from Asian countries. However, companies in the Italy resins & films market are enhancing their production capabilities to meet extraordinary and innovative projects requirements of Italian customers. Companies in the EVA resins & films market are increasing their R&D activities to explore new glass processing methods. They are offering a wide variety in EVA interlayers for glass lamination applications.

Companies Take Full Responsibility for Product Deliveries amidst COVID-19 Pandemic

The coronavirus (COVID-19) has become a global economic crisis for businesses in the EVA resins & films market. However, manufacturers are increasing efforts to keep their production activities and customer service as fully-operational amidst the pandemic. This is being achieved by complying with the regulations laid down by governments, as many countries are still registering a high rate of COVID-19 cases.

Companies in the EVA resins & films market are adopting the most stringent healthcare and safety measures during production processes. As coronavirus is subsiding in many countries, companies are taking full responsibility to deliver orders placed by its clients. Manufacturers are sourcing their raw materials in advance to avoid a shortage in the same.

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Analysts’ Viewpoint

Manufacturers are maintaining appropriate warehouse stocks to avoid shortage in raw materials and are seeking assistance from freight forwarding companies to acquire additional resources amidst the COVID-19 crisis. As such, companies in the EVA resins & films market are investing in resources to resolve certification issues by industry’s best and accredited institutes.

Companies are establishing steady revenue streams in solar cell encapsulation applications. However, EVA materials lack resistance toward high temperatures, resulting in damages to the solar panel. Hence, companies should addres

s these issues by increasing their research spending in developing UV resistant EVA films and make design improvements in solar panels.

EVA Resins & Films Market: Introduction

  • Ethylene-vinyl acetate (EVA) is elastic and soft; and can be produced into plastic-like rubber. It is extremely tough. Physical and chemical properties of EVA are regulated by the vinyl acetate (VA) content. High VA content increases the bulkiness of the molecule, thereby resulting in low degree of crystallinity in EVA copolymer. This leads to enhanced transparency, flexibility, and permeability. On the other hand, rise in VA content enhances the polarity of the molecule. Rise in polarity results in an increase in water absorption.
  • Versatile functional properties of EVA support its wide use in numerous applications. EVA is less expensive than rubber and polyvinylchloride (PVC). It provides superior resistance from UV and stress-crack than linear low density polyethylene (LLDPE). Easy processing and compatibility with various resins and plastics enable the usage of EVA in films, hot melt adhesives, foams, photovoltaic cells, wires & cables, hosing, tubes, etc.
  • In terms of value, the global EVA resins & films market is anticipated to expand at a CAGR of 4.5% during the forecast period to reach ~US$ 7 Bn by 2028
  • North America was the prominent region of the global EVA resins & films market in 2019. The EVA resins & films market in the region is expected to expand at a CAGR of more than 4% between 2020 and 2028.
  • EVA films are polymer-based components used in the production of solar PV modules. EVA films are used for encapsulation of solar PV cells, and performing adhesion and cushioning functions. Encapsulant is an essential part of a photovoltaic module for mechanical protection of silicon solar cells as well as electrical insulation of PV modules. Encapsulant packaging protects solar cells from environmental damage and mechanical stresses. This is a major factor estimated to drive the global EVA resins & films market during the forecast period.
  • EVA films provide good adhesion to glass, with high elongation at break. EVA films also offer bonding strength, good moisture resistance, and other beneficial characteristics. This is another key factor expected to propel the global EVA resins & films market. Solar panel is one of the rapidly expanding industries across the globe. The solar panel industry is estimated to expand significantly during the forecast period, owing to the increase in government support and incentives for the adoption of renewable energy for power generation. Thus, surge in demand for solar panels is driving the solar panel coatings market. This, in turn, is projected to boost the EVA resins & films market.

Rise in Demand for EVA Resins in Foam Applications

  • Based on application, the foams segment accounted for more than 30% share of the EVA resins market in 2019. It is likely to maintain its dominance in the global EVA resins market between 2020 and 2028. EVA is used extensively in foams due to its ability to impart resilience and softness. Cross-linked or open cell foams manufactured from EVA possess resistance to impact, chemical, moisture, and heat. Footwear is the primary end-user of EVA foams. Wedge soles, molded soles, runners, and top-line padding are the key application areas in the footwear industry where foams made from EVA are used.

Increase in Demand for EVA Films in Solar Applications

  • Based on application, the solar cell encapsulation held more than 50% share of the global EVA films market in 2019. It is estimated to maintain its dominance between 2020 and 2028.
  • EVA films are used extensively in solar cell encapsulation. Encapsulant sheets prevent water and dirt from infiltrating into solar modules. They also protect cells by softening shocks and vibrations. EVA films possess various properties such as excellent durability, adhesive bonding to glass and cell, excellent optical transmission, and flexibility & transparency.

Key Regional Highlights of EVA Resins & Films Market

  • Asia Pacific constituted prominent share of the global EVA resins & films market in 2019. Demand for EVA films in the region is anticipated to increase during the forecast period, due to rapid growth in the solar energy industry. The EVA resins & films market in Asia Pacific is projected to continue to expand at a rapid pace during the forecast period, owing to the rise in demand for EVA resins & films in various end-use industries such as packaging & paper, agriculture, coatings & adhesives, pharmaceutical, footwear, electrical & electronics, photovoltaic panels, and medical in the region.
  • China and India are likely to provide lucrative opportunities to the EVA resins & films market during the forecast period, led by improvement in economic conditions and rise in foreign investments in these countries. Additionally, rise in disposable income of consumers, growth of population, increase in government initiatives for industrial development, and rise in collaborations with foreign investors are some of the key factors driving the demand for EVA resins & films in Asia Pacific.
  • In terms of demand, India constituted major share of the EVA resins & films market in Asia Pacific in 2019. Upcoming initiatives in the solar energy sector in residential and commercial buildings, such as offices and schools; and agriculture farms are likely to drive the EVA resins & films market in the country during the forecast period.
  • North America is also considered a high potential region of the global EVA resins & films market, led by the rise in demand for EVA films in the U.S. and Canada. Increase in awareness about the usage of renewable and green energy has propelled the demand for solar energy in developed countries of North America. This is expected to drive the EVA films & resins market in the region in the near future. Increase in demand for solar panels for renewable energy generation in end-use industries such as residential, non-residential, energy, agriculture, and automotive is also boosting the demand for solar panel coatings. This, in turn, is estimated to augment the EVA resins & films market in North America.
  • Europe accounted for vital share of the global EVA resins & films market in 2019. Germany is anticipated to be a highly attractive country of the EVA resins & films market in Europe during the forecast period. The EVA resins & films market in the country is expanding at a rapid pace.
  • Increase in demand for EVA resins in various pharmaceutical, packaging, and foam-based products in the U.K. is projected to propel the EVA resins & films market in the country in the near future

EVA Resins & Films Market: Competition Landscape

  • Manufacturers are focusing on expanding their production capacities for EVA resins & films in order to meet the demand for EVA films in the solar energy industry
  • Key players operating in the global EVA resins & films market are 
    • Exxon Mobil Corporation
    • LyondellBasell Industries Holdings B.V.
    • Hanwha Group
    • The Dow Chemical Company
    • Arkema S.A.
    • Braskem
    • 3M
    • LG Chem Ltd.
    • Celanese Corporation
    • LOTTE ALUMINIUM
    • SANVIC INC
    • SKC
    • International Polymers Company (IPC)
    • Folienwerk Wolfen GmbH
    • Dr. Dietrich Mueller UK Limited
    • Lucent CleanEnergy
    • Changzhou Bbetter Film Technologies Co., Ltd.
    • Zhejiang Sinopont Technology Co., Ltd
    • Jinheung Industrial Co., Ltd.
    • Mitsui Chemicals Tohcello, Inc.
    • Interlayer Solutions.

EVA Resins & Films Market – Scope of the Report

Transparency Market Research’s recent report on the EVA resins & films market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the EVA resins & films market analyzes the scenario for the period of 2020 to 2028, wherein 2019 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.

This TMR study on the EVA resins & films market also provides data on the developments made by important players and stakeholders in the market, along with competition analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape.

This study also discusses the underlying trends and impact of various factors that are driving the EVA resins & films market, along with their influence on the evolution of the market.

This study also offers Porter’s Five Forces analysis, PEST analysis, and regulatory scenario of the EVA resins & films market in order to elaborate the crucial growth tactics and opportunities for players contributing to the market.

Key Questions Answered in EVA Resins & Films Market Report

  • How much revenue is the EVA resins & films market expected to generate by the end of the forecast period?
  • Which region currently accounts for the maximum share of the global EVA resins & films market?
  • What are the key indicators expected to drive the EVA resins & films market?
  • Which region is likely to be highly lucrative during the forecast period?
  • What are the essential strategies incorporated by key stakeholders in the EVA resins & films market to expand their geographical presence?
  • What are the major advancements in the EVA resins & films market?

This report answers these questions about the EVA resins & films market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

EVA Resins & Films Market: Research Methodology

This TMR report on the EVA resins & films market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competitive scenario of the EVA resins & films market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the EVA resins & films market arrived at predictions and estimations, and calculated the forecast for the market.

This report uses an analytical triangulation method to estimate the numbers of the EVA resins & films market, with both the bottom-up and top-down approaches.

This detailed assessment of the EVA resins & films market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the EVA resins & films market is set to grow are based on carefully vetted primary and secondary sources.

EVA Resins & Films Market – Segmentation

This report on the EVA resins & films market provides information based on application and region.

Application

EVA Resins

  • Food & Beverage Packaging
  • Hot Melt Adhesives
  • Wires & Cables
  • Foams
  • Inks
  • Bitumen Additives & Asphalt Modifiers
  • Pharmaceutical
  • EVA Film Production
  • Others (including Low Temperature Sealing)

EVA Films

  • Solar Cell Encapsulation
  • Thin-film Solar Cells
  • Crystalline Solar Cells
  • Glass Lamination
  • Cosmetics
  • Agriculture
  • Others (including Automotive)

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

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