Vinyl Acetate Monomer Market Size Worth US$ 10,882.28Mn, Globally, by 2028 at 5.2% CAGR - Exclusive Report by The Insight Partners
The Insight Partners
9 min read
The Insight Partners
The Vinyl Acetate Monomer Market size was valued at US$ 7,628.97Mn in 2021 and is expected to grow at a CAGR of 5.2% from 2021 to 2028 to reach US$ 10,882.28Mn by 2028.
New York, May 09, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Vinyl Acetate Monomer Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Application (Polyvinyl Acetate (PVA), Polyvinyl Alcohol (PVOH), Ethylene-Vinyl Acetate (EVA), Others); End-Use Industry (Construction, Packaging, Textile, Others). The report highlights key factors driving the market and prominent players along with their developments in the market. Vinyl acetate monomer (VAM) is an important intermediate used to make a number of polymers and resins. Vinyl acetate monomer is a crucial raw material used to make chemicals, which are then utilized to manufacture a wide range of consumer and industrial products. Based on application, the global vinyl acetate monomer market is segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others.
North America; Europe; Asia Pacific; Latin America; MEA
Country scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Vinyl Acetate Monomer Market: Competition Landscape and Key Developments
Celanese Corporation; Chang Chun Group; China Petroleum & Chemical Corporation; Dairen Chemical Corporation; Japan VAM & POVAL Co. Ltd.; LyondellBasell Industries Holdings B.V.; Sipchem; Solventis; The Dow Chemical Company; and Wacker Chemie AG these companies have been identified as key companies operating in the vinyl acetate monomer market. These companies operate their production and distribution services in various countries worldwide, which helps them in catering to a wider customer base.
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The vinyl acetate monomer market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. In 2020, Asia Pacific held the largest revenue share of the global vinyl acetate monomer market. The various countries from the region are witnessing an upsurge due to growth in urbanization and the robust growth of the automotive and construction sectors, which offers ample opportunities for key market players in the vinyl acetate monomer market. Further, the building and construction industry, primarily in China and India, is a solid contributor to the region’s growth.
Growing Demand from Various End-use Industries is Projected to Drive the Vinyl Acetate Monomer Market Growth During Forecast Period
Vinyl acetate monomer is an essential material in the manufacture of many polymers and resins. Vinyl acetate monomer is the key raw material used for the production of polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), etc. Polyvinyl acetate has strong adhesion properties for various materials, including paper, wood, plastic films, and metals. It is also an important ingredient in wood glue, white glue, carpenter’s glue, and school glue. Polyvinyl alcohol is used for adhesive packaging films. The increasing demand for adhesives from various industries such as construction, furniture, etc., is driving the market growth. Vinyl acetate monomer is also used to make polyvinyl butyral (PVB). Polyvinyl butyral is utilized in laminated safety glass for cars and buildings. There is a high demand for laminated glass in the building and construction industry.
Moreover, the various properties of laminated glass, such as resistance to shattering, soundproofing, and high strength, contribute to the high demand for laminated glass in the automobile industry. This, in turn, is creating demand for vinyl acetate monomers. Thus, growing demand from various end-use industries such as construction, packaging, textile, paint and coatings, automotive, etc., is driving the demand for the vinyl acetate monomer market.
The polyvinyl acetate segment held the largest share of the global vinyl acetate monomer market in 2020. Vinyl acetate monomer is the key raw material used for the production of polyvinyl acetate. Polyvinyl acetate is a significant ingredient in wood glue, white glue, carpenter's glue, and school glue. There is increasing use of polyvinyl acetate in paints, adhesives, paper coatings, textile treatments, etc. This, in turn, is expected to propel vinyl acetate monomers demands over the forecast period.
Impact of COVID-19 Pandemic on Vinyl Acetate Monomer Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical and materials industry is one of the major industries suffering serious disruptions such as supply chain breaks and shutdowns of production plants because of this pandemic. The shutdown of various manufacturing plants and factories in leading regions such as North America, Europe, Asia-Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Further, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are affecting business collaborations and partnership opportunities. All these factors are anticipated to affect the chemical and materials industry negatively, thereby acting as a restraining factor for the growth of various markets related to this industry in the coming months. The pandemic has directly affected the production and demand, led to supply chain and market disruption, and has subsequently impacted the financial status of the firms and the global economy. Similarly, the pandemic has negatively affected the market for vinyl acetate monomer has been negatively affected by the pandemic, owing to disruption in production processes.
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In 2021, Asia Pacific held the largest share of the global vinyl acetate monomer market. The market growth in this region is attributed to growth in urbanization and the robust growth of the construction industry. Various government initiatives and substantial private investments in India and China are anticipated to propel the regional vinyl acetate monomer market. The vinyl acetate monomer is also a principal raw material for polyvinyl alcohol and vinyl acetate-ethylene emulsions chemicals, which have witnessed an extensive demand in the packaging industry, further driving the vinyl acetate monomer market growth in Asia Pacific.
The polyvinyl acetate segment held the largest share of the global vinyl acetate monomer market in 2021. Polyvinyl acetate has good adhesive characteristics for a number of materials, including paper, wood, plastic films, and metals. It is a significant ingredient in wood glue, white glue, carpenter's glue, and school glue. Additionally, polyvinyl acetate homopolymers are used in paper and paperboard coatings, construction products, carpet backing, paints and industrial coatings, and engineered fabrics.
The construction segment held the largest share of the market in 2021. Vinyl acetate monomer is an important intermediate used in the manufacture of various construction materials. Polyvinyl acetate, vinyl acetate-ethylene, etc. are used in various building and construction products.
The polyvinyl acetate segment is the fastest-growing segment in the global vinyl acetate monomer market during the forecasted period. Increasing use of polyvinyl acetate in paints, adhesives, paper coatings, textile treatments, etc. is creating demand for vinyl acetate monomers.
Asia Pacific is estimated to register the fastest CAGR in the global vinyl acetate monomer market over the forecast period. The growing application of vinyl acetate monomer and their derivatives in numerous verticals, along with the efforts undertaken by leading chemical companies, the vinyl acetate monomer market is predicted to grow in the region.
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