by Vinyl acetate monomer is an organic compound that serves as an important raw material in the production of polyvinyl acetate and other polymers such as ethylene vinyl acetate. It finds applications in adhesives, paints and coatings due to its characteristics like excellent adhesion and good binding properties.
The global vinyl acetate monomer market is estimated to be valued at US$ 9.35 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing applications of vinyl acetate monomers in a variety of end use industries such as construction, packaging and woodworking have been augmenting the market growth. Vinyl acetate monomer based adhesives provide excellent adhesion and binding properties, making them suitable for use in manufacturing of composite wood, laminated flooring and other construction materials. Furthermore, vinyl acetate monomer emulsions are widely adopted in textiles, paper and packaging industries due to their ability to impart strength and flexibility. Owing to extensive use of vinyl acetate monomer in various commercial applications, the market is expected to experience significant growth over the forecast period.
SWOT Analysis
Strength: Vinyl acetate monomer has versatile applications across industries like paints and coatings, textile, construction, etc. It offers characteristics like flexibility, durability, adhesion, etc.
Weakness:Strict environmental regulations regarding its manufacturing process and volatile raw material prices.
Opportunity: Rising construction activities in developing nations driving increased demand for vinyl acetate copolymer emulsions used in tiles, wood coatings, etc. Growing textile industry also generates opportunities.
Threats: Shift towards bio-based and recycled materials posing threat to vinyl acetate demand. Fluctuations in crude oil prices affecting raw material costs.
Key Takeaways
The Global Vinyl Acetate Monomer Market Size is expected to witness high growth during the forecast period. The global Vinyl Acetate Monomer Market is estimated to be valued at US$ 9.35 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
Asia Pacific region currently dominates the market owing to large production capacities in China and other Southeast Asian nations. The construction industry in China, India and other developing Asian countries is growing rapidly which is boosting the demand for vinyl acetate copolymer emulsions used in ceramic tiles, wood coatings, etc.
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. These players are focusing on capacity expansions andbackward integration strategies to gain market share.
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.
