PUBLISHER: KBV Research | PRODUCT CODE: 1484171
PUBLISHER: KBV Research | PRODUCT CODE: 1484171
The Global Vinyl Acetate Monomer Market size is expected to reach $13.5 billion by 2031, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 6,632.1 kilo tonnes, experiencing a growth of 19.1% (2020-2023).
VAM is a key component in the production of textile binders used in textile finishing processes. Thus, the textile segment acquired 17.6% revenue share in the market 2023. In terms of volume, the textile segment attained a volume of 1,131.4 kilo tonnes in the market 2023. Textile binders based on VAM provide excellent adhesion, flexibility, and durability to textile fibers, fabrics, and substrates. These binders enhance the performance of textile materials by improving their strength, dimensional stability, and resistance to abrasion, wrinkling, and washing.
VAM is widely used in producing ethylene-vinyl acetate (EVA) films, essential components in photovoltaic (PV) solar panel encapsulation. EVA films protect solar cells from environmental factors such as moisture, dust, and mechanical stress while allowing light transmission to maximize energy conversion.
Additionally, VAM-based polymers are extensively used in the automotive industry for interior components such as door panels, dashboard trims, and upholstery. These polymers, often vinyl acetate copolymers, offer desirable properties such as flexibility, durability, and resistance to wear and tear. In conclusion, the growing automotive sector globally is propelling the growth of the market.
However, Sharp increases in raw material prices lead to higher production costs for VAM manufacturers, squeezing profit margins and reducing competitiveness. Cost pressures may force manufacturers to pass on price increases to customers, risking demand erosion and market share loss. Hence, volatility in raw material prices is hampering the market's growth.
End User Outlook
On the basis of end-user, the market is divided into construction, packaging, textile, cosmetics, and others. In 2023, the packaging segment registered 28.5% revenue share in the market. In terms of volume, the packaging segment would attain a volume of 2,590.3 kilo tonnes in the market 2028.
Application Outlook
Based on application, the market is divided into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others. In 2023, the polyvinyl acetate (PVA) segment garnered 43.5% revenue share in the market. In terms of volume the PVA segment would attain volume of 4,027.7 kilo tonnes in the market 2029.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated 26.2% revenue share in the market in 2023. In terms of volume, the North America region would attain a volume of 2,149.3 kilo tonnes in the market 2030.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Vinyl Acetate Monomer Market Report Segmentation
By End-user (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)