Vinyl Acetate Monomer Market to Surpass US$ 15.01 Bn by 2030
Global Vinyl Acetate Monomer Market is estimated to be valued at US$ 9.35 Billion in 2022, according to the Global Vinyl Acetate Monomer Market Report, by Application (Polyvinyl Acetate (PVAc), Polyvinyl Alcohol (PVOH or PVA), Ethylene-Vinyl Acetate (EVA), Ethylene-Vinyl Alcohol (EVOH), Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) published by Coherent Market Insights.
Global vinyl acetate monomer market was valued at US$ 9.35 Billion in 2022 and is expected to register a CAGR of 6.1% over the forecast period (2023–2030), to reach US$ 15.01 Billion by 2030
Vinyl acetate monomer is a colorless organic compound and is widely used in the production of resins and polymers for a wide range of consumer goods such as textiles, paints, coatings, adhesives, etc. It is primarily used for the manufacturing of polyvinyl acetate that goes well with paper, plastic films, metals, and wood due to its excellent bonding properties.
Drivers:
High demand for adhesives from various end-use 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-use industries is 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 for 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.
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 processes for the manufacturing of the vinyl acetate monomer is expected to hinder the market growth. Moreover, high exposure to vinyl acetate monomers leads to various health issues such as eye irritation and respiratory infections are again expected to restrict the market growth.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/vinyl-acetate-monomer-market-4120
Key Trends and Analysis of the Global Vinyl Acetate Monomer Market:
Increasing adoption of vinyl acetate in the textile industry is expected to foster market growth of vinyl acetate monomer. The monomer is projected to gain significant growth over the forecast period due to the growing demand for fashionable clothes. Moreover, it is also used in the manufacturing of luxurious home furnishing materials. Changing lifestyles and increasing disposable income of consumers will create huge demand for trendy clothes and luxurious home furnishing materials. Thus, the growing demand for vinyl acetate from the textile industry is projected to propel the market growth.
The growing use of high-performance polymers in place of metal in the automotive industry is gaining traction in the market. Growing demand for lightweight vehicles due to growing strict emission regulations and the need to curb pollution is shifting manufacturers’ focus towards developing fuel-efficient vehicles. This is creating demand for high-performance polymers which in turn augmenting the market growth of the vinyl acetate monomer over the forecast period.
Key Takeaways of the Global Vinyl Acetate Monomer Market:
- Polyvinyl acetate (PAVc) segment dominated the global vinyl acetate monomer in 2022, accounting for a 46.2% share in terms of volume, followed by polyvinyl alcohol (PVOH or PAV) and ethylene-vinyl acetate, respectively.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities for the vinyl acetate monomer are key strategies adopted by players in the global vinyl acetate monomer market. For instance, in February 2020, 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.
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