The global Vinyl Acetate Monomer Market is estimated to be valued at US$ 9.35 Bn or Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Vinyl acetate monomer is an important raw material used in the production of various vinyl resins and polymers. It is conventionally used in production of ethylene vinyl acetate copolymer, polyvinyl alcohol, vinyl acetate ethylene copolymer, etc. These vinyl polymers have wide applications in packaging, construction, paints & coatings and textiles industries due to advantages such as durability, thermal stability and ease of processing.
Market key trends:
One of the key trend in the vinyl acetate monomer market is increasing demand from the packaging industry. Vinyl polymers derived from vinyl acetate monomer such as ethylene vinyl acetate copolymer and polyvinyl alcohol finds extensive usage in flexible packaging of food & beverages. They provide properties such as flexibility, moisture barrier and heat sealability. Rising consumption of packaged food & drinks globally is propelling the demand for vinyl polymers in the packaging industry. Their large scale adoption is anticipated to positively influence the vinyl acetate monomer market during the forecast period.
SWOT Analysis
Strength: Vinyl acetate monomer has wide applications in various end-use industries like paints & coatings, adhesives, films & sheets, and textiles. It offers outstanding adhesion, sound dampening, toughness and flexibility.
Weakness: Strict environmental regulations regarding VOCs emissions during vinyl acetate monomer production poses challenge. Worker safety issues related to toxic gas emissions is also a concern.
Opportunity: Growing demand from emerging economies of Asia Pacific and increasing utilization of eco-friendly water-based adhesives provides new avenues.
Threats: Price volatility of crude oil and natural gas which are raw materials can squeeze margins. Substitution threat from alternatives like ethylene vinyl acetate and polyvinyl alcohol.
Key Takeaways
Global Vinyl Acetate Monomer Market Demand is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing demand from construction industry. Vinyl acetate monomer finds wide usage in production of adhesives, paints & coatings which sees strong demand from construction, packaging and furniture manufacturing.
Regional analysis
Asia Pacific dominates the global vinyl acetate monomer market, driven by expanding construction activities and consumer goods sector in China, India. China represents over half of the global vinyl acetate monomer capacity owing to presence of key manufacturers. North America and Western Europe are other major markets propelled by recovering construction sector.
Key players
Key players operating in the vinyl acetate monomer market are Celanese Corporation, Dairen Chemical Corporation, Japan VINYL ACETATE MONOMER & POVAL Co. Ltd., Kuraray Co. Ltd., LyondellBasell Industries, Ningxia Yinglite Chemical Co., Ltd., China Petroleum & Chemical Corporation (Sinopec Corp.), The Dow Chemical Company, Wacker Chemie AG.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.