According to this report, 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.
Stratview Research has segmented the market By Application Type (Polyvinyl Alcohol, Polyvinyl Acetate, Ethylene-Vinyl Acetate, Vinyl Acetate Ethylene, Ethylene-Vinyl Alcohol, and Others), by End-User Type (Packaging, Construction, Textile, Cosmetics, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
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.
Key Players
- 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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Segment 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.
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- Which are the factors impacting the Vinyl Acetate Monomer Market?
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