The market for vinyl acetate monomers is expected to reach $13.9 billion by the end of 2032, growing at a 4.7% CAGR from its current value of $8.8 billion in 2022. The vinyl acetate monomers market refers to the global industry that manufactures and sells vinyl acetate monomer (VAM), an organic compound that is primarily used as a raw material in the manufacture of polyvinyl acetate (PVA) and other copolymers. VAM is used in a variety of industries, including adhesives, paints and coatings, textiles, and others.
The growing demand for VAM in various end-use industries, particularly in the construction and automotive sectors, is driving the market. The construction industry's expansion, particularly in emerging economies, is expected to drive demand for VAM in the coming years. Furthermore, the growing demand for environmentally friendly and sustainable products is expected to open up new opportunities in the VAM market.
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Key Takeaways from Vinyl Acetate Monomers Market Study
- The global vinyl acetate monomers market is projected to expand at a CAGR of 4.7% and reach US$ 13.9 billion by 2032.
- Worldwide sales of vinyl acetate monomers increased at 3.1% CAGR between 2017 and 2021.
- Under application, polyvinyl acetate dominates the market with 42.6% share.
- The construction industry dominates the demand for vinyl acetate monomers with 39.8% market share.
- East Asia leads the global market with 26.9% share in 2021.
- Demand for vinyl acetate monomers is expected to increase at CAGRs of 5.1% and 4.6%, respectively, in South Asia & Oceania and Europe.
In recent years, leading manufacturers such as LyondellBasell Industries, Dow Chemicals, and Celanese Corporation have significantly increased their production capacities of vinyl acetate monomers to meet the growing demand from end-use industries such as construction, packaging, textiles, and cosmetics.
Developing economies of Asia Pacific such as China and India have created high demand for packaging applications for food & beverages and e-Commerce. Manufacturers of vinyl acetate monomers can look to set up manufacturing plants in these countries to meet the growing demand for various applications.
Key players in the Vinyl Acetate Monomers Market
- LyondellBasell Industries
- Celanese Corporation
- The Dow Chemicals
- Lotte Chemical Corporation
- Royal Dutch Shell
- Wacker Chemie AG
- Dairen Chemical Corp
- Kuraray Co. Ltd.
Why is Demand for Polyvinyl Acetate Rapidly Increasing?
Applications like polyvinyl alcohol, polyvinyl acetate-ethylene vinyl alcohol, ethylene vinyl acetate, etc. use vinyl acetate monomers. These have numerous applications in end-use industries like building, packaging, textiles, and cosmetics. The market for vinyl acetate monomers worldwide is dominated by polyvinyl acetate monomers, which account for the largest share of these applications.
Because of its high chemical thermal stability and low price, polyvinyl acetate is a good choice for the paper, packaging, and construction industries. Microorganisms are unable to attack polyvinyl acetate. Due to this characteristic, casein and hide-based natural adhesives have been replaced by polyvinyl acetate.
Original Source of the original story >> Vinyl Acetate Monomers Industry to Witness Significant Growth as Demand Increases in Construction and Automotive Industries