Is the demand for EVA bags in the photovoltaic industry growing fast?

Is the demand for EVA bags in the photovoltaic industry growing fast?
When exploring the growth rate of demand for EVA bags in the photovoltaic industry, we must analyze it from multiple angles, including the current market supply and demand situation, industry development trends, and the impact of the rapid development of the photovoltaic industry on the demand for EVA materials.

1. Rapid development of the photovoltaic industry
The photovoltaic industry has shown explosive growth worldwide in recent years. Especially in China, the newly installed capacity of photovoltaics reached 78.42GW in the first half of 2023, an astonishing 153.95% increase compared with the same period in 2022. This growth directly promoted the demand for EVA materials, as EVA is one of the indispensable materials for photovoltaic module encapsulation.

2. Application of EVA materials in the photovoltaic industry
EVA (ethylene-vinyl acetate copolymer) is widely used in the production of photovoltaic films due to its excellent physical properties. Photovoltaic films are key materials for photovoltaic modules, used to encapsulate and protect solar cells. With the technological progress of the photovoltaic industry, the demand for EVA film is also growing, especially in the development of N-type battery module technology, the demand for POE/EPE film continues to grow

3. The growth rate of demand for EVA materials
According to market analysis, photovoltaic film has become the largest demand area in the downstream of EVA, and its share has continued to increase, from 33.3% in 2020 to 58.44% in January-October 2023. It is estimated that by 2025, the domestic consumption of photovoltaic-grade EVA will reach about 1.956 million tons, accounting for more than 50% of the total EVA consumption. This data shows the rapid growth of demand for EVA materials in the photovoltaic industry.

4. Supply and demand status and future forecasts
In 2022, China’s total EVA production capacity will reach 2.15 million tons/year, with an annual output of about 1.676 million tons and a consumption of about 2.761 million tons. The self-sufficiency rate will increase from 49.1% in 2021 to 60.7%. It is estimated that by 2025, the domestic EVA production capacity will exceed 5 million tons/year and the consumption will exceed 3.6 million tons/year. The consumption of EVA in the photovoltaic film field is expected to become the fastest growing market, and its consumption will account for more than 50% by 2025.

5. Conclusion
Based on the above analysis, we can conclude that the demand for EVA packages in the photovoltaic industry is growing very fast. With the global emphasis on renewable energy and the continuous development of the photovoltaic industry, the market demand for EVA materials, as a key packaging material for photovoltaic modules, will continue to grow rapidly. The rapid development and technological innovation of the photovoltaic industry will further promote the growth of demand for EVA materials, indicating that the application prospects of EVA materials in the photovoltaic industry are broad.