Top 10 Companies in the EVA PV Materials Market (2026): Market Leaders Powering Global Solar Transition

MARKET INSIGHTS

Global EVA PV Materials market was valued at USD 872 million in 2025. The market is projected to grow from USD 912 million in 2026 to USD 1.31 billion by 2034, exhibiting a CAGR of 4.7% during the forecast period.

EVA PV Materials are specialized polymer compounds essential for solar panel manufacturing. These ethylene‑vinyl acetate copolymers serve as encapsulation materials that protect photovoltaic cells while allowing optimal light transmission. Their key properties include excellent adhesion, durability against environmental stressors, and thermal stability – making them the preferred choice for solar module production worldwide.

Growth is driven by increasing global solar energy adoption, with photovoltaic capacity installations rising 35% year‑over‑year in 2023. Government renewable energy targets across major economies and falling solar technology costs are creating strong demand for high‑performance EVA materials. Recent industry developments include Hanwha Solutions’ 2024 expansion of its EVA production capacity in Korea to meet growing solar market needs, highlighting the material’s strategic importance in the renewable energy transition.

EVA PV Materials Market – View in Detailed Research Report

Top 10 Companies in the EVA PV Materials Market (2026)

1. Hanwha Total

Headquarters: Seoul, South Korea
Key Offering: Transparent EVA particles, anti‑PID formulations, integrated supply chain solutions

Hanwha Total leads the sector with a robust portfolio of transparent EVA particles that deliver superior light transmittance for both single‑ and bifacial modules. Its recent capacity expansion in Korea positions the company to supply the rapidly growing Asian and European markets.

Sustainability & Growth Initiatives: Investment in cross‑linkable EVA to reduce curing energy, partnership with leading module manufacturers for BIPV applications.

• Expanded production to 300,000 metric tons by 2026
• R&D spend >7% of revenue focused on UV‑stable grades
• Supply‑chain resilience through regional sourcing agreements

2. USI Corporation

Headquarters: Taipei, Taiwan
Key Offering: Fast‑cure EVA formulations, high‑transparency grades for residential installations

USI Corporation delivers EVA solutions tailored for low‑yellowing requirements and high‑output modules, supporting the North American and emerging Asian markets.

Sustainability & Growth Initiatives: Vertical integration of ethylene sourcing, development of recyclable EVA blends.

• Capacity increase of 150,000 metric tons in 2026
• Partnerships with rooftop solar OEMs
• Zero‑emission polymerization line in Shanghai

3. Levima Group

Headquarters: Shanghai, China
Key Offering: Premium reflective EVA particles, anti‑PID technology for high‑power modules

Levima Group’s EVA range caters to high‑efficiency PERC and TOPCon cells, enabling module manufacturers to push power thresholds beyond 600 W.

Sustainability & Growth Initiatives: Integrated ethylene production, investment in additive recycling.

• Production capacity up 200,000 metric tons by 2026
• Collaboration with Chinese PV clusters
• Launch of low‑VOC EVA line

4. Shenghong Group

Headquarters: Wuhan, China
Key Offering: Cost‑competitive EVA for utility‑scale farms, high‑temperature tolerance grades

Shenghong Group targets large‑scale solar farms, offering EVA that withstands extreme processing temperatures while maintaining optical clarity.

Sustainability & Growth Initiatives: Localized production to meet regional content requirements, partnership with Southeast Asian manufacturers.

• Expansion of regional plants in Vietnam and Malaysia
• Adoption of automated polymerization equipment
• Participation in ASEAN solar trade agreements

5. Formosa Plastics

Headquarters: Taipei, Taiwan
Key Offering: White EVA particles, high‑reflective coatings for BIPV

Formosa Plastics supplies EVA for building‑integrated photovoltaics, where aesthetic performance is critical.

Sustainability & Growth Initiatives: Development of bio‑based EVA components, carbon‑neutral manufacturing targets.

• Launch of bio‑EVA line in 2026
• Carbon offset projects in Taiwan
• Strategic alliance with BIPV developers

6. Rongsheng Petrochemical

Headquarters: Guangzhou, China
Key Offering: Cross‑linking agents for EVA, UV stabilizers

Rongsheng Petrochemical supplies critical additives that enhance EVA performance, supporting global manufacturers.

Sustainability & Growth Initiatives: Investment in additive recycling, supply‑chain diversification.

• Expansion of additive production lines by 2026
• Partnerships with European PV suppliers
• Implementation of closed‑loop chemical processes

7. LOTTE Chemical

Headquarters: Seoul, South Korea
Key Offering: Advanced EVA formulations for bifacial modules, anti‑PID coatings

LOTTE Chemical’s advanced EVA range supports high‑efficiency modules and extends product lifespan through anti‑PID technology.

Sustainability & Growth Initiatives: Collaboration with Korean solar OEMs, focus on low‑VOC EVA.

• Capacity boost of 120,000 metric tons in 2026
• R&D in low‑temperature curing
• Participation in Korea’s renewable energy incentives

8. LG Chem

Headquarters: Seoul, South Korea
Key Offering: High‑performance EVA for PERC and perovskite‑silicon cells, recyclable blends

LG Chem supplies EVA that meets the stringent optical and durability requirements of next‑generation modules.

Sustainability & Growth Initiatives: Development of recyclable EVA, investment in green chemistry.

• Launch of recyclable EVA line in 2026
• Partnership with global PV manufacturers
• Carbon‑neutral production facilities in South Korea

9. TPI Polene

Headquarters: Bangkok, Thailand
Key Offering: Advanced EVA for tropical climates, high‑temperature resistant grades

TPI Polene focuses on EVA solutions that endure high humidity and temperature, ideal for Southeast Asian installations.

Sustainability & Growth Initiatives: Expansion into ASEAN markets, investment in sustainable sourcing.

• New plant in Vietnam by 2026
• Partnerships with local solar installers
• Use of renewable energy in production

10. TPC

Headquarters: Taichung, Taiwan
Key Offering: Standard EVA and fast‑cure formulations, cost‑effective solutions for emerging markets

TPC supplies EVA that balances performance and price, supporting growth in emerging economies.

Sustainability & Growth Initiatives: Automation of polymerization processes, partnership with emerging market OEMs.

• Automation of 80% of production lines by 2026
• Supply‑chain resilience through local sourcing
• Participation in regional trade agreements

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Outlook

The EVA PV Materials market is expected to maintain a steady expansion through 2034, supported by the continued rise in solar installations and the need for higher‑performance encapsulants. Companies that innovate in anti‑PID technology, cross‑linking, and recyclable blends will likely capture the most value as manufacturers shift toward longer‑lasting, lower‑maintenance modules.

Future Trends

• Adoption of perovskite‑silicon tandem modules will create a new premium EVA segment, demanding enhanced moisture resistance and optical clarity.
• Recycling initiatives will become a competitive differentiator, as regulators and buyers prioritize closed‑loop solutions.
• Digital supply‑chain visibility will help EVA suppliers manage raw‑material volatility and meet certification timelines.
• Emerging markets in Africa and Latin America will drive demand for cost‑effective EVA, encouraging local production and capacity expansion.