Photovoltaic industry may be China's EVAconsumption market growth rate of the fastest industry

 Photovoltaic industry as EVA consumptionleader, growth may significantly outperform foam, wire and cable and otherfields; EVA for hot melt adhesive, pre-coating industry may remain stable; anddownstream agricultural film industry consumption growth may lag.

   At present, the PV film industry market share of the top four companiesare Foster, Swec, Haiyu new material, Saiwu technology, market share of 55%,13.54%, 10.36% and 4.37% respectively. China PV film manufacturers have nowbecome the dominant force in the global PV film market, Europe, America, Japanand Korea enterprises gradually fade out of the market, the global PV filmsales of the top three companies are Foster, Swecker and Haiyu New Material.

   Mainstream adhesive film raw materials can be divided into fourcategories: transparent EVA film, white EVA film, POE film and co-extruded POEfilm. PV film raw materials account for about 4.25% of the total cost, which isa key factor in determining the quality and life of PV modules.

   In the PV industry, EVA has a high degree of irreplaceability. 30.88GWof installed PV power generation in China from January to June 2022, anincrease of 137.4% year-on-year, this figure has exceeded the sum of the firstten months of last year's installed capacity, the main links of the national PVindustry chain to maintain a strong momentum of development, year-on-yeargrowth of more than 45%.

   China's PV industry is expected to maintain high consumption growth ofEVA in the future, and EVA consumption in the PV sector is expected to grow ata rate of more than 12%. It is estimated that by 2025, China's EVA consumptionin the photovoltaic industry will be close to 1.5 million tons, will remain thelargest consumer market for EVA.