EVA Coated Film Market to Surpass US$ 390.6 Million by 2033, Driven by Increasing Demand for Sustainable Packaging - Future Market Insights, Inc.Report

The recent study by FMI showed that the EVA-coated film market is experiencing significant growth due to the increasing demand for sustainable packaging and various other factors that enhance its appeal in the market. Furthermore, the study also says that the increasing presence of the industrial sector is driving the demand for EVA-coated film.

/EIN News/ -- NEWARK, Del, July 18, 2023 (GLOBE NEWSWIRE) -- The Global EVA Coated Film Market is expected to reach US$ 242.1 million in 2023, projected to exceed US$ 390.6 million by 2033. This growth is driven by a compound annual growth rate (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.

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.

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Key Takeaways from EVA Coated Film Market

• The EVA-coated film industry in China is predicted to reach US$ 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 US$ 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.

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Competitive Landscape of Top Companies in the EVA-Coated Film Industry:

The following are the top companies in the industry:

1. Jindal Poly Films
2. Cosmo Films Ltd.
3. Easter Industries
4. SHANGHAI CN FILMS COMPANY
5. Shijiazhuang dado Packaging Materials Co.
6. Flex Films
7. 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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About the Packaging Division at Future Market Insights 
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help. 

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