Ethylene Vinyl Acetate Market To Reach a Value of USD 13,149.7 Million By 2030

As per a report published by P&S intelligence, the total value of the ethylene vinyl acetate market was USD 7,060.8 million in 2021, and it will grow at a rate of 7.2% by the end of this decade to touch USD 13,149.7 million by 2030.

The main factors which are responsible for the development of the industry include growing solar photovoltaic installation, increasing demand for the material in a number of industries, and increasing agricultural activities happening all over the world.

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The direct/institutional sales category will dominate the industry, on the basis of distribution channel. This is mainly because of the customers' desire for improving their health and appearance and exclusively personalized customer experience offered by distributors, sharing their thirst for products.

The renewable energy category will grow the fastest in the years to come. The main reason for this will be the rising shift from fossil fuels to renewable energy and growing technical advancements.Above 28% VA category will have the fastest growth in the industry, on the basis of grade. This has a lot to do with the sudden increase in the requirement for foam and solar cell encapsulation.

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Growing installations of solar panels globally and technological progresses improving functionalities of solar will also contribute to the growth of this category.EVA is a thermoplastic polymer utilized as a covering agent in solar modules due to producing an insulating and sealing coating over the solar cells when heated and offers good radiation transmission and low degradability in sunlight.

It is because of the increasing PV installation, happening all over the world, the demand for ethylene vinyl acetate will grow considerably in the years to come.

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