The Global EVA Coated Film Market is expected to reach USD 242.1 million in 2023, projected to exceed USD 390.6 million by 2033. This growth is driven by a CAGR of 4.9% during the forecast period. The rising demand for sustainable packaging is a major factor contributing to this market expansion, as the films offer an innovative and environmentally friendly solution for reducing carbon footprint and managing plastic waste.
A paradigm shift in e-commerce is a game-changing example of an easy and convenient packaging trend. Online internet shopping provides efficiency and the comfort of comparison, real-time updates of new products, discount offers, and exclusive deals. The packaging industry is revolving according to recent business and market trends. E-commerce, sustainable packaging, and digital platforms are the prime factors influencing the EVA-coated film market.
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The EVA-coated film protects the product from damage and environmental influences, which helps in the logistics and transportation of products through e-commerce. The excessive use of the internet and smartphone, buying decisions based on the visual appeal on screen, easy payment modes and quick, fast, and safe delivery of the products, timely availability, and innovation all lead to augment the demand for EVA coated film during the forecast period.
Key Takeaways from EVA Coated Film Market
- The EVA-coated film industry in China is predicted to reach USD 50.8 million by 2033, increasing at a 5.7% CAGR.
- The EVA-coated film industry in the United Kingdom is estimated to reach a market share of USD 38.5 million, expanding at a CAGR of 6.3% by 2033.
- With a CAGR of 5.9% from 2022 to 2033, the specialty film segment is expected to dominate the EVA-coated film industry.
- With a CAGR of 5.5% from 2022 to 2033, the food and beverage industry is expected to dominate the EVA-coated film industry.
Rapidly Growing Industrial Sector is Fuelling Demand for EVA Coated Film
EVA-coated films are widely in various end-use industries such as electrical, and electronics, automotive, packaging, building & construction, and other industrial applications. As a result of their properties, these provide tamper evidence, keeping the packaging intact.\
The automotive and electronic industry is expected to witness tremendous growth over the next few years. Initiatives taken by governments of several nations for the expansion of energy generation and other industrial development projects are also expected to fuel the demand for EVA-coated films.
Sustainable & Recyclable Revolution will Enhance EVA Coated Film Market
Governments across the globe are working on regulations for manufacturers to adopt eco-friendly manufacturing processes and to provide a less harmful product to the environment. For instance, according to the European Commission’s eco-design directive, the European government aims to reduce the environmental impact of products, including life-cycle energy consumption, by providing manufacturers with rules for the design of eco-friendly and energy-related products.
Owing to environmental regulations related to the disposal of plastic waste, it created awareness among consumers and has resulted in the manufacturing of biodegradable packaging products. This is expected to boost the EVA coated film market in the long run.
Competitive Landscape of Top Companies in the EVA-Coated Film Industry:
The following are the top companies in the industry:
- Jindal Poly Films
- Cosmo Films Ltd.
- Easter Industries
- SHANGHAI CN FILMS COMPANY
- Shijiazhuang dado Packaging Materials Co.
- Flex Films
- Polyplex
Segmentation Analysis of the EVA Coated Film Market
By Film Type:
- Heat Sealable Films
- Laminating Films
- Specialty Films
By Application:
- Packaging, Laminates
- Labels
- Tapes
- Others (Solar Panel, etc.)
By End Use:
- Food and Beverage
- Pharmaceuticals
- Electrical & Electronics
- Automotive
- Construction
- Others (Energy, Textiles, Cosmetics, Agriculture, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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