PUBLISHER: The Business Research Company | PRODUCT CODE: 1414669
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414669
“Vinyl Acetate Monomer Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on vinyl acetate monomer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for vinyl acetate monomer? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The vinyl acetate monomer market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Vinyl acetate monomer is a colorless liquid with a potent odor that can undergo polymerization in bulk, solution, suspension, or emulsion forms. It is utilized in various industries, including adhesives and sealants, paints and coatings, and textiles. The monomer easily polymerizes to produce Polyvinyl Alcohol (PVA) and vinyl acetate ethylene (VAE) copolymers, offering a diverse range of properties.
The primary sales channels for vinyl acetate monomer include direct sales and indirect sales. Direct sales involve the method of directly selling products or services to consumers without intermediaries or middlemen. Vinyl acetate monomer finds applications in polyvinyl alcohol (PVOH), polyvinyl acetate (PVA), ethylene-vinyl acetate (EVA), vinyl acetate ethylene (VAE), ethylene-vinyl alcohol (EVOH), among others. The key end-users span various industries such as packaging, construction, textiles, cosmetics, and more.
The vinyl acetate monomer market research report is one of a series of new reports from The Business Research Company that provides vinyl acetate monomer market statistics, including vinyl acetate monomer industry global market size, regional shares, competitors with a vinyl acetate monomer market share, detailed vinyl acetate monomer market segments, market trends and opportunities, and any further data you may need to thrive in the vinyl acetate monomer industry. This vinyl acetate monomer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The vinyl acetate monomer market size has grown strongly in recent years. It will grow from $9.14 billion in 2023 to $9.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth witnessed in the historical period can be ascribed to the expansion of the construction industry, a burgeoning packaging sector, applications in textiles and nonwovens, heightened manufacturing of consumer goods, and a growing demand for paints and coatings.
The vinyl acetate monomer market size is expected to see strong growth in the next few years. It will grow to $11.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be linked to urbanization and infrastructure development, progress in packaging materials, a concerted effort towards sustainable and eco-friendly products, the expansion of the automotive industry, and technological innovations in the textile sector. Noteworthy trends expected in the forecast period encompass improved formulations in food packaging, a strategic focus on expanding into the Asia-Pacific market, adoption in photovoltaic encapsulation, a shift toward water-based adhesives, and innovation in packaging solutions.
The anticipated growth in the construction industry is poised to drive the expansion of the vinyl acetate monomer market in the future. The construction industry, encompassing activities from planning and design to construction and maintenance of physical structures and infrastructure, is a pivotal sector in the economy. Vinyl acetate monomer (VAM) plays a crucial role in the construction industry as a primary component in the production of adhesives and coatings. Its versatility contributes to the creation of robust, long-lasting, and high-performance adhesives, sealants, and coatings used in various construction applications. This surge in demand is a key factor propelling the vinyl acetate monomer market. Notably, in May 2023, the United States Census Bureau reported a 3.8 percent increase in construction spending, rising from $1,768.2 billion in March 2022 to $1,834.7 billion in March 2023. Hence, the thriving construction industry is a driving force behind the growth of the vinyl acetate monomer market.
The escalating production in the automotive sector is expected to be a significant catalyst for the growth of the vinyl acetate monomer market. Automotive production involves the manufacturing process of motor vehicles, encompassing a range of vehicles such as cars, trucks, buses, motorcycles, and more. Vinyl acetate monomer (VAM) plays a diverse role in automotive production, contributing to the manufacturing of components and materials that enhance vehicle performance, safety, and aesthetics. As an illustration, The European Automobile Manufacturers' Association reported that in 2022, global motor vehicle production reached 85.4 million units, indicating a growth of 5.7% compared to the previous year. Consequently, the increasing automotive production stands out as a driving factor for the vinyl acetate monomer market.
The vinyl acetate monomer market is witnessing a surge in popularity with a notable trend being the installation of new plants. Leading companies in this market are channeling significant investments into the development of vinyl acetate monomer products and materials, aiming to fortify their market positions. An illustrative example is Asian Paints Ltd., an India-based paint company, which, in October 2022, allocated a substantial investment of $32.1 million towards establishing a manufacturing facility. This facility is dedicated to the production of vinyl acetate ethylene emulsion and vinyl acetate monomer, with an annual capacity of 100,000 tons of vinyl acetate monomer (VAM) and 150,000 tons of vinyl acetate ethylene emulsion (VAE). Additionally, the company has ventured into a joint venture in Fujairah, United Arab Emirates, collaborating with entities such as Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing. The joint venture entails an investment exceeding $6.7 million over the next two years.
Major players in the vinyl acetate monomer market are concentrating their efforts on innovation, with a focus on developing novel products such as chemically recycled ethylene vinyl acetate (EVA) copolymers. These copolymers are derived from the chemical recycling of waste or used EVA-based products. An instance of such innovation is showcased by Repsol S.A., a Spain-based petrochemical company, which, in September 2023, announced the launch of its 'Ethylene Vinyl Acetate (EVA)' copolymers product range. This range comprises chemically recycled copolymers that incorporate 100% circular AV from chemical recycling, adding to its existing 'Reciclex' portfolio.
In December 2023, INEOS Group Limited, a UK-based chemical producer, made a strategic move by acquiring Eastman Chemical Texas City, Inc. The acquisition, valued at an undisclosed amount, is part of INEOS's broader strategy to expand its Acetyls business. This acquisition positions INEOS strategically to capitalize on affordably priced raw materials, thereby facilitating the expansion of operations and promoting sustainability for the acquired site's future. Eastman Chemical Texas City, Inc. is a US-based specialty materials company.
Major companies operating in the vinyl acetate monomer market report are The Dow Chemical Company,Wacker Chemie AG,Kuraray Co.Ltd.,Sinopec Corp.,LyondellBasell Industries N.V.,Japan Vam And Poval Co. Ltd.,Saudi International Petrochemical Company, Dairen Chemical Corporation,Solventis Ltd.,DuPont de Nemours Inc.,Chang Chun Group,Innospec Inc.,Exxon Mobil Corporation,Arkema S.A.,Lotte BP Chemical Co. Ltd.,LANXESS AG,Celanese Corporation,China Petrochemical Corporation, Braskem SA,Borealis AG,Mitsui Chemicals Inc.,Sumitomo Chemical Co. Ltd.,Hanwha Chemical Corp.,Versalis S.p.A.,LG Chem Ltd.,Formosa Plastics Corporation,BASF SE,Tosoh Corporation,UBE Industries Ltd.,Reliance Industries Limited
Asia-Pacific was the largest region in the vinyl acetate monomer market in 2023. The regions covered in the vinyl acetate monomer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the vinyl acetate monomer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The vinyl acetate monomer market consists of sales of polyvinyl acetate, vinyl acetate-ethylene, emulsion, vinyl acrylic latex, acetic acid vinyl ester, vinyl ethanoate, vinyl acetate-maleic anhydride, and acetic acid ethenyl ester. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.