Vinyl acetate monomer is a colorless organic compound and is widely used in the production of resins and polymer for a wide range of consumer goods such as textiles, paints, coatings, adhesives, etc. It is primarily used for the manufacturing of the polyvinyl acetate that goes well with paper, plastic films, metals, and wood due to its excellent bonding properties.
The global vinyl acetate monomer maket is estimated to account for US$ 8,848.2 Mn in terms of value and 7,556.0 KiloTons in terms of volume by the end of 2019.
Growing demand for ethylene-vinyl acetate for the manufacturing of solar cells is projected to augment the market growth. Moreover, it is also used in encapsulation of photovoltaic (PV) modules across most of the solar cells due to its excellent light transmittance and elasticity, low processing temperature, and adhesive properties. Thus increasing use of solar cells around the globe is projected to foster the market growth of the vinyl acetate monomer.
The growing use of ethylene-vinyl alcohol films across the food packaging industry is projected to create potential market opportunities in the near future. Ethylene-vinyl alcohol films based packaging helps to prevent the food from spoilage by cutting the oxygen supply and odor out. Also, these films offer excellent transparency to the packaging which further helps the consumer in purchasing decisions. Ethylene-vinyl alcohol (EVOH) films are widely used in refrigerated foods.
Fluctuating raw materials price used for the manufacturing of the vinyl acetate monomer is projected to hinder the market growth. Acetic acid and ethylene are two major raw materials used in the production of the vinyl acetate monomer and both are derived from the petrochemical products. Thus, petrochemical products are highly susceptible to the volatility and this affects the overall price of the final product.
Global vinyl acetate monomer was valued at US$ 8,848.2 Mn market in 2019 and is forecast to reach a value of US$ 12,621.1 Mn by 2027.
Polyvinyl acetate (PAVc) segment dominated the global vinyl acetate monomer in 2019, accounting for 45.2% share in terms of volume, followed by polyvinyl alcohol (PVOH or PAV) and ethylene-vinyl acelate, respectively.
Increasing adoption of vinyl acetate in the textile industry is expected to foster market growth of the vinyl acetate. The monomer is projected to gain significant growth over the forecast period due to the growing demand for fashionable and trendy clothes. Moreover, it is also used in the manufacturing of the luxurious home furnishing material. Changing lifestyle and increasing disposable the income of the consumers will create huge demand for trendy clothes and luxurious home furnishing material. Thus, growing demand for vinyl acetate from 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 the lightweight vehicle due to growing strict emission regulations and need to curb the pollution is shifting manufacturer’s 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.
Global Vinyl Acetate Monomer Market - Impact of Coronavirus (Covid-19) Pandemic
As per Coherent Market Insights’ analysis, the rapid decline in demand from end-use industries such as polymers and paints & coatings industry coupled with declining feedstock prices resulted in the change of price for polyvinyl acetate (PVA) in the U.S. Furthermore, the price for ethylene dichloride (EDC) also declined, resulting in change of 60% to account for US$ 110-120 per ton in April as against US$ 280-290 per ton in March, 2020. Hence, hampering the growth of vinyl acetate monomer market.
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