Global Ethylene Vinyl Acetate (EVA) Resins & Films Market to Grow with a CAGR of… – Press Release

New York, May 13, 2022 (GLOBE NEWSWIRE) — In the year 2020, according to the statistics by the International Energy Agency (IEA), the use of renewable energy worldwide increased by 3%. Moreover, the statistics also stated that during the same year, the share of renewables in global electricity generation jumped to 29%, up from 27% in the year 2019. Furthermore, in the year 2021, renewable electricity generation was expected to expand by more than 8% to reach 8300TWh. Besides this, the statistics also stated that in the year 2020, solar PV generation increased by 23% (156 TWh) and reached 821 TWh.

Kenneth Research has recently released a report on “Global Ethylene Vinyl Acetate (EVA) Resins & Films Market” which is studied for the forecast period, i.e., 2022-2031. The market research report is studied by utilizing different analytical tools, such as Porter’s five forces analysis, SWOT analysis, and others, and also includes a detailed review of the key players operating in the market along with their product portfolio analysis.

The demand for solar energy has undoubtedly increased over the past few years, backed by the shift towards renewable energy from conventional energy sources. In the other statistics by the IEA, solar PV generation in the Net Zero Scenario, by the end of 2030, is expected to touch 6970.0 TWh, up from 821.0 TWh in the year 2020. With an almost fivefold increase expected in the annual deployment of solar energy until 2030, the demand for solar panels is expected to multiply massively in the coming years. According to the statistics by the International Renewable Energy Agency (IRENA), the total installed capacity of solar globally touched 843086 MW in the year 2021, up from 72216 MW in the year 2011. The surge in need for solar PV panels is therefore expected to drive the demand for ethylene vinyl acetate (EVA) resins & films, and in turn, contribute to the growth of the market in the coming years. EVA films are used as a key encapsulation…