Ethylene Vinyl Acetate Market Size

Ethylene Vinyl Acetate Market size was valued at USD 9.19 Billion in 2023 and is expected to exceed USD 12.04 Billion by the end of 2036, registering over 2.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of ethylene vinyl acetate is evaluated at USD 9.36 Billion. The major factor driving the market revenue is the growth in demand for solar energy. In 2022, the production of global solar PV ascended by a record of close to 269 TWh (up about 25%), reaching approximately 1 299 TWh. Hence, the market demand is also estimated to surge. EVA is part of a solar module that ceases moisture and airborne particles from entering the solar cells and deteriorating them.

Additionally, owing to the rising emission of greenhouse gases the emphasis on solar energy production is growing. Utility-scale solar electricity creates from 394 to 447 MWh per acre each year, in accordance with recent data. Thus, one acre of solar panels with zero emissions decreases carbon dioxide emissions by approximately 121 and 138 metric tonnes annually. As a result, even governments all across the world are encouraging the adoption of solar energy. Therefore, with the growing demand for solar energy, the ethylene vinyl acetate market demand is also rising.