The growing demand in automotive sector & architectural application and the continuous technological advancements in EVA solar films are anticipated to drive the growth of the global EVA solar films market during the forecast period. The Asia-Pacific region is projected to hold a major market share by 2032.
Wilmington, Delaware, Jan. 23, 2024 (GLOBE NEWSWIRE) — Allied Market Research has recently published a report, titled, “EVA Solar Films Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Normal EVA Films, Anti-PID EVA Films, Others), by Application (Thin-film Solar Cells, Crystalline Solar Cells, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global EVA solar films market generated $3.2 billion in 2022, and is anticipated to generate $7.8 billion by 2032, rising at a CAGR of 9.5% from 2023 to 2032.
Prime Determinants of Growth
The rising demand in architectural applications & automotive sector, the widespread adoption of photovoltaic systems, and the rising environmental awareness across the globe are the factors expected to drive the growth of the global EVA solar films market in the forecast period from 2023 to 2032. However, high initial cost and the competition from substitutes like polyolefin (PO) and polyvinyl butyral (PVB) films may hamper the market growth in the coming future. On the contrary, the technological advancements in solar EVA films and the integration of EVA films with materials like graphene and perovskite are expected to offer remunerative opportunities for the expansion of the EVA solar films market during the forecast period.
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Report Coverage & Details:
|Market Size in 2022
|Market Size in 2032
|No. of Pages in Report
|Type, Application, and Region
|Growing demand in architectural application and automotive sector Rising adoption of photovoltaic systems Increased adoption of solar panels
|Continuous technological advancements in EVA solar films Development of new applications like building-integrated photovoltaics (BIPV)
|High initial cost and the availability of substitutes
- The COVID-19 pandemic outbreak had a significant impact on the global EVA solar films market’s growth due to the disruption in the supply chain, affecting the availability of raw materials. The implementation of solar projects utilizing EVA solar films faced delays due to pandemic-induced lockdowns and restrictions, which impeded construction activities.
- However, some of the factors that may influence the recovery of the EVA solar films market are the resumption of industrial activities, the government support for renewable energy, and the innovation of new products & applications.
Type: Normal EVA Films Sub-segment to Flourish Immensely by 2032
The normal EVA films sub-segment accounted for the largest global EVA solar films market share of 52.3% in 2022 and is expected to the highest grow at a CAGR of 9.8% during the forecast period from 2023 to 2032. This is mainly due to the growth factors attributed to normal EVA solar film’s inherent durability, showcasing robust resistance to environmental factors and wear. Notably cost-effective, normal EVA films offer a pragmatic choice for manufacturers, striking a balance between performance and affordability. The seamless integration of EVA films enhances overall production efficiency, making them a strategic choice in bolstering economic feasibility and manufacturing efficacy in solar panel production.
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Application: Crystalline Solar Films Sub-segment to Observe Significant Growth During the Forecast Period
The crystalline solar films sub-segment of the global market accounted for the highest share of 53.3% in 2022 and is projected to rise at the highest CAGR of 9.9% during the forecast period. This is mainly owing to the inherent advantages and widespread adoption in the solar energy sector. Acknowledged for their efficiency and durability, these cells have become the preferred choice for harnessing solar energy. The use of crystalline silicon contributes to their high conversion efficiency, a key factor in maximizing electricity output from sunlight. With proven efficiency, durability, and suitability for different scales of installations, crystalline solar cells play a vital role in enhancing the effectiveness and sustainability of solar energy systems.
Region: Asia-Pacific Market to be the Most Dominant by 2032
The EVA solar films market in the Asia-Pacific region accounted for the largest share of 42.2% in 2022 and is predicted to be dominant and grow at the highest CAGR of 9.8% during the forecast period. This growth is mainly due to a substantial surge in demand for sustainable energy solutions, especially in the flourishing solar industry. EVA solar films have emerged as crucial components, contributing to the durability and efficiency of photovoltaic panels. The proactive embrace of solar energy technologies across the Asia-Pacific addresses the growing energy requirements while effectively managing environmental concerns.
Leading Players in the EVA Solar Films Market:
- Str Holdings, Inc.
- Celanese Corporation
- KENGO Industrial Co., Ltd.
- Guangzhou Lushan New Materials Co. Ltd.
- Hanwha solutions
- Hangzhou First Applied
- Astenik Solar
- Bridgestone Corporation
- Mitsui Chemicals
The report provides a detailed analysis of the key players of the global EVA solar films market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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