Analysis of the Development of China's EVA Industry from 2023 to 2028

Ethylene vinyl acetate copolymer resin (EVA resin) is the fourth largest ethylene series polymer after HDPE, LDPE, and LLDPE. EVA is obtained by tool reaction of two monomers, ethylene and vinyl acetate (VA), with a mass fraction of VA ranging from 5% to 40%. Due to its excellent performance, the product is widely used in foaming materials, functional greenhouse films, packaging films, injection blown products, blending agents and adhesives, wires and cables, photovoltaic cell packaging films, and hot melt adhesives.

EVA production processes are mainly divided into two types

The performance of EVA is closely related to the content of vinyl acetate (VA). As the content of VA increases, its resilience, flexibility, adhesion, transparency, solubility, stress cracking resistance, and impact performance will all improve; When the content of VA decreases, the rigidity, wear resistance, and electrical insulation of EVA will increase. Generally speaking, when the VA content ranges from 10% to 20%, it is a plastic material, while when the VA content exceeds 30%, it is an elastic material.

Photovoltaic power generation demand boosts further industry growth

EVA in China is mainly used for functional greenhouse films, packaging films, shoe materials, hot melt adhesives, wires and cables, and solar photovoltaics. With the adjustment of domestic industrial structure, the EVA industry has shown differentiated development. Foam shoe materials and films belong to the traditional application field of EVA resin, with demand approaching saturation and consumption proportion shrinking.

At the same time, with the development of China's photovoltaic industry, pre coating technology, and halogen-free flame-retardant cables, solar cells, coatings, and wires and cables have become important application areas for EVA resin, and demand has steadily increased.

In the future, photovoltaic power generation, as a new clean energy project strongly supported by the state, will continue to grow in the future, which will greatly promote the development of China's EVA downstream photovoltaic industry. The demand for EVA will maintain a rapid growth trend and continue to be the main market for EVA downstream demand growth.

The total production capacity of EVA in China exceeds 2.1 million tons/year

EVA (ethylene vinyl acetate copolymer) is a thermoplastic resin (polymer material) produced through polymerization reaction using ethylene (E) and vinyl acetate (VA) as raw materials. The performance of EVA mainly depends on the VA content in the molecular chain. Compared with polyethylene, EVA reduces crystallinity, improves toughness, impact resistance, filler solubility, and thermal sealing performance.

In recent years, the expansion of production by major domestic refining and chemical enterprises has accelerated, and the production capacity of EVA materials has begun to increase. As of 2022, the total production capacity of EVA in China has exceeded 2.1 million tons per year, an increase of over 21% year-on-year.

Market supply and demand will further expand by 2025

EVA, as a high-end polyolefin material with broad market demand, has become a business that many domestic refining and chemical enterprises are vying to layout. According to China Huaxin's prediction, by 2025, the domestic EVA production capacity will exceed 5 million tons/year, and the consumption will exceed 3.6 million tons/year.