EVA Solar Films Market Size, Share, By Type (Normal EVA Films, Anti-PID EVA Films, and Others), By Application (Automotive, Construction, Electronics, Packaging, and Others), and Region - Trends, Analysis, and Forecast till 2035

• By 2035, the target market is expected to reach USD 9.8 Billion.
• In 2024, the market for EVA solar film systems was estimated to be worth USD 4.3 Billion.
• The market is expanding at a CAGR of 9.5% during the forecast period.

EVA solar films are essential encapsulates used in photovoltaic modules. They provide critical protection and durability for solar cells by shielding them from environmental factors, such as moisture, dust, and also UV radiation. The target market growth plays a pivotal role in renewable energy sector which is driven by the rising demand for solar power installations.

For instance, in February 2023, Pune-based startup Vayve Mobility launched India’s first solar-powered electric car Eva in the market, with deliveries set to begin in the mid of 2024. The car contains 150 watt solar panels on the sunroof that can give it 10 km -12 km of range a day or 3,000 km a year in addition to the power from the 14kWH battery that can fuel a drive of 250km.

Key Takeaways:

• Asia Pacific held the largest share of the market in 2024 due to strong demand for sustainable energy solutions across the region.
• North America is expected to be the fastest-growing market during the forecast period owing to favorable government incentives that promotes clean energy adoption in the region.
• By type, the normal EVA Films is expected to account for the largest share of the EVA solar films market in the upcoming years as these films are widely utilized for their durability, cost-effectiveness and ability to effectively protect solar cells.

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Key Drivers of Target Market:

Increasing Demand for Renewable Energy is Expected to Boost Market Growth

The global shift toward renewable energy sources, particularly solar power, is a primary driver for the EVA solar films market growth. Governments and organizations are implementing favorable policies and incentives to promote solar energy adoption leading to a significant increase in solar panel installations.

• For Instance, in May 2024, the ministry of new and renewable energy (MNRE) has approved the use of thin film solar modules produced at first solar vertically integrated solar manufacturing facility in Tamil Nadu in projects that have a Domestic Content Requirement (DCR) mandate.

Rising Construction of Green Buildings is expected to Speed up Market Expansion

The increasing emphasis on sustainable construction practices is driving demand for focused market. The surge in green building projects, which prioritize renewable energy sources that necessitates the use of solar panels relying on EVA films for encapsulation propel market growth.

• For instance, in August 2023, leading photovoltaic cell encapsulation film manufacturer Alishan Green Energy announced the addition of Alishan BackPro backsheets to its portfolio. Alishan back sheet comes with a proprietary coating material that enhances its performance and longevity. The proprietary binding material not only avoids chalking but also fosters excellent bonding with EVA, a crucial component in solar module encapsulation.

Restraints:

Volatility of Raw Material Prices Can Hamper the Target Market Growth

A barrier to target market expansion is the price volatility of raw materials where geopolitical issues, global trade circumstances and supply chain interruptions cause unanticipated price increases for key ingredients needed in the manufacture of EVA films. For example, EVA resin prices have seen fluctuations due to supply chain disruptions, impacting overall production costs.

• Counterbalance Statements: Reduced reliance on volatile raw chemicals is a result of ongoing improvements in EVA solar film manufacturing methods. Production process innovations can reduce the quantity of raw materials used and increase efficiency.

Opportunities & Market Trends:

Combining EVA Solar Films with Cutting-Edge Materials to Boost Market Expansion

There is a great chance to improve the performance and efficiency of solar panels by combining EVA solar films with cutting-edge materials, such as grapheme and perovskite. These integrations, which may result in more effective solar technology, are being made possible by advances in material science.

The EVA solar films market is classified into type, application, and region.

Type:

EVA solar films systems market by type is categorized into normal EVA films, anti-PDI EVA films, and others. The normal EVA films segment is expected to dominate over the forecast period due to its established role as the standard encapsulate in solar panel production. These films are renowned for their robust resistance to environmental factors which ensures the longevity of solar panels. They protect sensitive photovoltaic cells from moisture, UV radiation, and mechanical stress, crucial for maintaining efficiency and performance over time.

Application:

By application, the EVA solar films market is segmented into automotive, construction, electronics, packaging, and others. The construction segment holds the dominant EVA solar films market share due to their high use in the construction sector, primarily in photovoltaic (PV) panels, which are extensively employed in building integrated photovoltaic (BIPV) and other architectural applications.

• For instance, in February 2023, SVECK, one of China's largest suppliers of EVA films for PV modules, plans to invest CNY 1.36 billion (USD 203 million) in a new factory with a planned capacity of 420 million square meters. The company said it will build the new factory in two phases in Yancheng, China's Jiangsu.

Region:

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific: This region is projected to hold the largest share of 42.2% in the target market. The market is expected to continue its dominance with a high growth rate. The significant demand for sustainable energy solutions, particularly in the solar industry, has driven substantial investments in solar power infrastructure across countries like China, India and Japan. For instance, the proactive adoption of solar energy technologies in the Asia pacific region addresses escalating energy needs while mitigating environmental impacts which solidifying its leading position in the target market.

North America: This is the fastest-growing region in the target market due to the rising demand for renewable energy solutions.

• For instance, in March 2023, Hanwha Qcells America has revealed that its solar supplier, Hanwha Advanced Materials Georgia (HAGA), developed a new advanced materials manufacturing facility in Bartow County, Georgia. HAGA will supply Qcells with encapsulant film ethyl vinyl acetate (EVA), which is the front “foil” on solar modules sandwiching the cells against the backsheet and front glass

 EVA Solar Films Market Report Scope:

Segmentation:

By Type:

• Normal EVA Films
• Anti-PID EVA Films
• Others

By Application:

• Automotive
• Construction
• Electronics
• Packaging
• Others

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the EVA solar films market include Hanwha Solutions, Mitsui Chemicals, and Celanese Corporation, among others. In order to complete the rising demand for solar energy solutions, major players in the highly competitive EVA solar films market are concentrating on increasing production capacity, improving product quality, and implementing cutting-edge technologies.

For instance, in September 2024, Dow-Mitsui Polychemicals Company, Ltd., Mitsui & Dow Polychemicals starts marketing biomass ethylene vinyl acetate copolymer (EVA) and biomass low density polyethylene (LDPE) based on the mass balance method.

List of Key Players in the Market:

• Hanwha Solutions
• Mitsui Chemicals
• Celanese Corporation
• 3M
• Bridgestone Corporation
• Hangzhou First Applied
• Str Holdings, Inc.
• KENGO
• Astenik Solar
• Guangzhou Lushan New Materials Co., Ltd.
• Solvay S.A.
• First Solar, Inc.
• JinkoSolar Holding Co., Ltd.
• REC Group
• Canadian Solar Inc.

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• In June 2024, LONGi officially unveiled its new Hi-MO X6 Artist Ultra Black module with a 360-degree pure black appearance. LONGi has developed a new standard black for the Ultra Black module and an image recognition process that detects different levels of black in the cells. Using AOI, the cells for the Ultra Black production are being evaluated on a multi-dimensional level and selected according to the Ultra Black color standard. This process results in pure and deep black cells in the modules.
• In October 2022, Hanwha Solutions has announced plans to strengthen its solar material business and secure a production base for key components of high-efficiency solar power cells in South Korea. Hanwha Solutions will expand its business through a joint venture with GS Energy to become the world’s largest EVA producer by 2025 and expand its production of high-efficiency TOPCon cells.

Analyst View:

EVA solar films market is set to witness substantial growth, which is driven by the increasing solar energy adoption globally and technological innovations and heightened focus on sustainability. The demand for efficient and cost effective solar panels will continue to rise contributing positively to the target market in upcoming years.

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