EVA Solar Films Market Expected to Reach $7.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “EVA Solar Films Market," The eva solar films market size was valued at $3.2 billion in 2022, and is estimated to reach $7.8 billion by 2032, growing at a CAGR of 9.5% from 2023 to 2032.

EVA solar films industry play a major role in revolutionizing the photovoltaic industry, serving a role in solar cell encapsulation. Formed through ethylene and vinyl acetate copolymerization, these polymer sheets deliver transparency, flexibility, and outstanding adhesion. Essential in solar panel production, Ethylene vinyl acetate (EVA) solar films enhance durability & performance, reshaping the solar energy sector. The ethylene-vinyl acetate blend provides unique attributes, allowing seamless integration into various solar panel shapes and sizes. Its adhesive properties ensure the structural integrity of solar modules confirming reliability. EVA films' transparency optimizes light transmission, a major factor in maximizing energy conversion efficiency. As encapsulants, they act as protective barriers, safeguarding solar cells from environmental factors such as moisture and UV radiation. This dual functionality extends solar panel lifespan, maintaining optical clarity for efficient sunlight capture and energy conversion, illustrating EVA solar films' integral role in advancing solar technology.

Moreover, the surging global adoption of solar panels is set to drive significant growth in demand for EVA solar films market forecast. As a heightened focus on sustainable & renewable energy sources, solar power emerges as a major player in addressing these requirements. The installation of solar panels has seen progressive growth, fueled by environmental awareness and government initiatives promoting clean energy. EVA solar films, integral to photovoltaic modules, are essential in enhancing the efficiency and lifespan of solar panels. Serving as encapsulants, they protect photovoltaic cells from environmental elements such as moisture, dust, and mechanical stress. With properties such as light transmittance and robust adhesion, EVA solar films significantly contribute to the resilient performance of solar modules, ensuring durability and reliability in diverse weather conditions. Rise in demand for these films is further propelled by the expanding solar energy market, characterized by increased investments and technological advancements, establishing a protective barrier and optimizing energy conversion through crucial light transmission.

However, the EVA solar films market growth confronts an impediment due to surging costs associated with this essential component in photovoltaic module manufacturing. The integral role of EVA solar films in encapsulating solar modules has led to a substantial price hike, potentially hindering the broader expansion of the solar film market. As a crucial element ensuring the durability & performance of solar panels, the escalating prices of EVA films present formidable challenges for manufacturers and stakeholders in the solar energy sector. In markets such as solar energy, where cost-effectiveness is paramount for widespread adoption, the high cost of EVA solar films acts as a barrier to achieving ambitious renewable energy targets. Stakeholders, including solar panel manufacturers and project developers, grapple with the formidable task of maintaining competitive pricing and attaining desirable returns on investment in the face of these escalating EVA film prices.

On the other hand, the EVA solar films market experiences notable growth, finding increased favor in the architectural and automotive sectors. Primarily employed in architectural structures, these films operate an important role in solar photovoltaic (PV) modules, driving substantial growth. Their versatility facilitates integration into architectural elements like glass facades and windows. This integration is pivotal for harnessing solar energy effectively in sustainable power generation. EVA solar films manage a balance between functionality and aesthetics, allowing for the efficient utilization of solar power without compromising the visual and design aspects of buildings, underscoring their significant role in advancing solar energy applications.

Moreover, the EVA solar films market share is segmented into type, application, and region. On the basis of type, the market is divided into normal EVA films, anti-PID EVA films, and others. Based on application, the market is classified thin-film solar cells, crystalline solar cells, and others. According to the region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Furthermore, the key players profiled in the EVA solar films market analysis include Hangzhou First Applied, Str Holdings, Inc., Hanwha Solutions, Mitsui Chemicals, KENGO, Bridgestone Corporation, 3M, Astenik Solar, Guangzhou Lushan New Materials Co., Ltd., and Celanese Corporation.

Further, the report offers a comprehensive analysis of the global EVA solar films market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID -19 on the Global EVA Solar Films Market

• EVA solar film production faced challenges due to COVID-19-related disruptions in the supply chain, affecting the availability of raw materials.
• Implementation of solar projects using EVA solar films experienced delays as lockdowns and restrictions hampered construction activities.
• Remote working conditions in the industry have slowed down decision-making processes and project planning, affecting the overall adoption of EVA solar films.

Key Findings of the Study

• Based on type, the normal EVA films sub-segment emerged as the global leader in 2022 and the same sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on application, the crystalline solar cells sub-segment emerged as the global leader in 2022 and the same sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, Asia-Pacific registered the highest market share in 2022 and is projected to maintain its position during the forecast period.