EVA Market Analysis

EVA Industry Insights

Grade Insights

• Above 28% VA category is expected to witness the fastest growth in the market during the forecast period.
• This will primarily be due to the sudden increase in the demand for foam and solar cell encapsulation, increasing installations of solar panels across the world, and technological advancements that improve the functionalities of solar modules.

Grades covered in the report include:

• Below 18% VA
• 18% VA
• 28% VA
• Above 28% VA (Largest and Fastest-Growing Category)

Application Insights

• The foam category is estimated to have held the largest share, of around 38%, in 2024 in the EVA market. This is due to the growing end-use industries, such as furniture, electronics, automotive, and building & construction, in emerging economies like India, Thailand, and China.
• Moreover, it has high durability, sturdiness at extreme temperatures, ultraviolet resistance, water resistance, resilience even after long use, the ability to withstand compression and recuperate, and color-subsuming properties.

The following applications are included in the report:

• Solar Cell Encapsulation (Fastest-Growing Category)
• Adhesive
• Film
• Foam (Largest Category)
• Wire and Cable

Industry Insights

• The renewable energy category is expected to witness the fastest growth in the market during the forecast period. This can be due to the rising shift from fossil fuels to renewable energy and increasing technological advancements.
• Whereas, the packaging category dominates the market. This is majorly attributed to the rising demand for deep-freeze packaging, milk pouches, and many other food packaging materials.
• EVA offers high mechanical strength, flexibility at low temperatures, greater resilience than PVC, and greater flexibility than LDPE, with higher permeability to water vapor and gases.

Industries covered in the report are:

• Renewable Energy (Fastest-Growing Category)
• Packaging (Largest Category)
• Agriculture
• Footwear
• Electrical & Electronics

Distribution Channel Insights

• The direct/institutional sales category dominates the market. This is ascribed to the customers' desire to improve their health and appearance and the uniquely personalized customer experience provided by distributors, sharing their passion for products.
• EVA is majorly sold through business-to-business networks, following which it is further distributed to end users for the manufacturing of footwear, solar module encapsulation, and films for packaging.
• Owing to the presence of reliable B2B networks, manufacturers prefer to sell their EVA-based products through this distribution channel, which, in turn, drives the market growth.

The following distribution channels are included in the report:

• Direct/Institutional Sales (Larger Category)
• Others (Faster-Growing Category)