Vinyl acetate monomer is an organic compound that is produced by the reaction of ethylene and acetic acid with oxygen by using palladium catalyst. It is one of the key chemical compounds use to produce various industrial and consumer’s goods such as polymers and which are further used in coatings, wire, construction materials, etc.
Global vinyl acetate monomer market was valued at US$ 8848.20 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.9 % during the forecast period (2022 to 2030).
Drivers
High demand for adhesives from various end user industries is predominantly fueling the market growth of the vinyl acetate monomer. Adhesives are widely used across paints and coatings, construction, laminates, paper, and textiles for bonding applications due to their excellent adhesion properties to a substrate such as ceramics, metals, paper, and wood. Hence, the growing demand for adhesives from various end-user industries are propelling the market growth of the vinyl acetate monomer.
The growing use of vinyl acetate monomer for the production of polyvinyl alcohol is further used across packaging films, photosensitive coatings and thickeners are augmenting market growth. Moreover, polyvinyl alcohol is used in the production of polyvinyl butyral (PVB) which has great toughness and clarity that offer a protective layer to glass. PVB is further used in the production of laminated glass of automobiles and building and construction.
Vinyl acetate monomer (VAM) is an important intermediate used to make a number of polymers and resins. Vinyl acetate monomer is a crucial raw material used to make chemicals, which are then utilized to manufacture a wide range of consumer and industrial products. Based on application, the global vinyl acetate monomer market is segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others.
Figure 1. Global Vinyl Acetate Monomer Market Value Share (%), By Region, 2021
Asia Pacific region dominated the global vinyl acetate monomer market accounting for 46.2% share in terms of value.
Market Restraints
Strict environmental rules and regulations associated with the vinyl acetate products as it exhibits various potential environmental threat is expected to limit the adoption of the products. This is expected to hinder the market growth of the vinyl acetate monomer.
Lack of technological process for the manufacturing of the vinyl acetate monomer is expected to hinder the market growth. Moreover, high exposure of the vinyl acetate monomers leads to various health issues such as eye irritation and respiratory infections are again expected to restrict the market growth.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 8848.20 Mn |
| Historical Data for: | 2017-2020 | Estimated Year: | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 5.9% | Forecast Period: | 2022-2030 |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
Celanese Corporation Dairen Chemical Corporation, Japan VAM & 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 |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Market Trends
Increasing focus of the manufacturer on production capacity by establishing new plants is one of the current trends in the market. For instance, in February 2019, INEOS invested £150 million in Hull to construct a new Vinyl Acetate Monomer (VAM) plant. The capacity at the site is expected to produce 300,000 metric tons per year (m.t./yr). The new plants help in strengthen U.K. manufacturing of the product and also exports from the U.K. to Europe and the rest of the world.
Supply agreement of catalysts between manufacturers for business expansion is a growing trend in the market. For instance, in July 2020, KBR entered into partnership with Shenghong Refining Petrochemical (Lianyungang) Co. Ltd., China, where KBR will supply proprietary catalyst for a Shenghong’s grassroot 300 KTA Vinyl Acetate Monomer (VAM). The unit represents the first commercial VAM technology license and engineering contract under an alliance agreement between KBR and Showa Denko K.K. (SDK).
Figure 2. Global Vinyl Acetate Monomer Market Value Share (%), By Application, 2021
On the basis of application, polyvinyl acetate segment has accounted the largest market share of 45.2% in terms of value, followed polyvinyl alcohol and ethylene-vinyl acetate segment respectively.
Recent Developments
Competitive Section
Major players operating in the global vinyl acetate monomer market include, Celanese Corporation Dairen Chemical Corporation , Japan VAM & 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
Vinyl acetate monomer is an organic compound that is produced by the reaction of ethylene and acetic acid with oxygen by using palladium catalyst. It is one of the key chemical compounds use to produce various industrial and consumer’s goods such as polymers, which are further used in coatings, wire, construction materials, etc.
Market Dynamics
The growing use of vinyl acetate monomer for the production of polyvinyl alcohol which is further used across packaging films, photosensitive coatings and thickeners is augmenting market growth. Adhesives are widely used across paints and coatings, construction, laminates, paper, and textiles for bonding applications due to their excellent adhesion properties to substrates such as ceramics, metals, paper, and wood. Hence, the growing demand for adhesives from various end-user industries are propelling the market growth of the vinyl acetate monomer.
Various companies are investing heavily in developing advanced technology for improving catalyst and process technologies. This could bring new prospects to the market in the near future. The goal of developing advanced technology for the production of the vinyl acetate monomer is to reduce the overall cost of the product and enhance the yields at a lower initial cost. Thus growing focus on the technological upgradations will favor the market growth.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients