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According to a research report by Stratview Research, the Vinyl Acetate Monomer Market was estimated at USD 8.14 billion in 2021 and is likely to grow at a CAGR of 4.63% during 2022-2028 to reach USD 11.21 billion in 2028.
What is vinyl acetate monomer?
Vinyl acetate monomer is basically an organic compound that is produced by the reaction of ethylene and acetic acid with oxygen in the presence of a palladium catalyst. It is also one of the key chemical compounds used to produce various industrial and consumer goods, such as polymers, and is further used in coatings, construction materials, and wires.
Market Dynamics
The growth of the vinyl acetate monomer market is primarily driven by-
- The growing popularity of VAM-based packaging material in the food & beverage sector,
- Increasing demand for paints & coatings in the construction industry globally.
Segments' Analysis
Based on the application type, the market is segmented as polyvinyl alcohol, polyvinyl acetate, ethylene-vinyl acetate, vinyl acetate ethylene, ethylene-vinyl alcohol, and others. Polyvinyl acetate is estimated to be the leading application type of the market during the forecast period. Polyvinyl acetate holds around 37% of vinyl acetate monomer production and is a primary molecule in adhesives, construction, paints, textile, and architectural coatings, including all copolymers and homopolymers containing less than or equal to 50% of vinyl acetate.
Based on the end-user type, the market is segmented as packaging, construction, textile, cosmetics, and others. The textile end-user industry is estimated to witness significant growth in the market owing to changing consumer tastes and demand during the forecast period. The growth of the segment is owing to the shifting preferences toward sophisticated clothing and polyvinyl acetate offering to interline for superior body handles.
In terms of regions, Europe is anticipated to be the leading region in the market owing to the favorable regulatory environment in the region during the forecast period. Further, the presence of a large number of cosmetics & toiletries, electronics, and packaging product manufacturers, growing awareness regarding nutritional and organic food items, and the rising food & beverage industry led to the development of innovative packaging solutions in order to meet the consumers’ demand are some of the major factors accelerating the regional market growth over the forecast period. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Leading Players Covered in the Vinyl Acetate Monomer Market Report:
The following are the key players in the Vinyl Acetate Monomer Market -
- Celanese Corporation
- Chang Chun Group
- Dairen Chemical Corporation
- Kuraray Co., Ltd.
- Lyondellbasell Industries, Inc.
- Sinopec Group
- Sipchem
- Solventis Ltd.
- The Dow Chemical Company
- Wacker Chemie AG.
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