Vinyl Acetate Monomer (VAM) Market Size By Application (Polyvinyl Alcohol, Polyvinyl Acetate, Ethylene Vinyl Acetate, Vinyl Acetate Ethylene, Ethylene Vinyl Alcohol), By End User Sector (Packaging, Construction, Textile, Cosmetic), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Sep 2020  |  Report ID: GMI2474  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 338   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Vinyl Acetate Monomer (VAM) Market size was close to USD 8.97 billion in 2019 and will grow at a CAGR of 4.2% from 2020 to 2026. Rising popularity of VAM-based packaging material in the food & beverage sector has experienced an exceptional growth in recent years and continues to expand rapidly in emerging economies.
 

VAM-based food packaging prevents product retardation, maintains the beneficial effects of processing, increases shelf-life, and maintains the quality & safety of food. These factors will surge the vinyl acetate monomer market during assessment period.
 

Vinyl Acetate Monomer Market Statistics

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Packaging application is led by the growing consumption of processed food products. A shift in eating habitats and a rising number of working populations will subsequently increase the demand for fast food & packaged food products, accelerating the need for protective & eco-friendly packaging.
 

Product packaging has emerged as an important factor in customers’ decision-making process as packaging communicates directly with the customers. It helps in protecting the product and aids in enhancing brand visibility, which escalates brand value. These factors become crucial when it comes to medical and cosmetic packaging.
 

According to the World Packaging Organization, the demand for consumer flexible packaging was over 23 million tons in 2017. Furthermore, several fast-food restaurants and take-away outlets are witnessing strong vinyl acetate monomer market in the recent years, propelling the need for different varieties of packaging materials. Growing trends of eco-friendly packaging, which are easy to reuse and recycle, will boost the packaging industry.
 

In addition, growing organized retail, and rapid growth of exports and e-commerce are fueling the vinyl acetate monomer market share. As per the Canadian Environmental Protection Act 1999 (Section 74), there are government regulations on vinyl acetate to promote its safe use. Due to its carcinogenicity and flammable nature, the production of VAM is highly regulated.
 

Vinyl acetate monomer is synthetically produced and is expensive to make as it is based on acetic acid. Cost depends largely on ethylene, acetic acid, acetylene, and their relatively complex processing and purification process. Ethylene is a byproduct of hydrocarbons, which is derived from crude oil. The fluctuating cost of crude has a direct impact on the vinyl acetate monomer market price.
 

The global Covid-19 crisis has severely disrupted the vinyl acetate monomer market outlook. Top G7 developed economies are all facing economic recession. The economies of the U.S. Germany, Italy, Japan, Canada, and France shrank dramatically during the first half of 2020. These nations recorded their worst GDP due to the dent in consumption during the pandemic.
 

Japan, the third largest economy, shrank 27.8% in April-June. Its private consumption that accounted for majority of Japan’s economy plunged by 8.2% for the quarter. End-use products consumption has been severely impacted, hindering market potential for VAM producers.
 

The vinyl acetate monomer market is moderately fragmented with top three manufacturers accounting for around 33% of the overall market share in 2019. Increased production capacity appears to be key strategy adopted by industry players. For instance, Lotte BP Chemical Co., a joint venture between South Korea's Lotte Group and BP, a British energy giant, will establish its new 200,000 tonne/year VAM plant in Ulsan, South Korea. This capacity expansion will increase Lotte BP’s VAM production by 100% in the coming year.
 

Vinyl Acetate Monomer (VAM) Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 8,975.2 Million
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.2% 2026 Value Projection: USD 10,194.8 Million
Pages: 338 Tables, Charts & Figures: 443
Geographies covered (17): U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Application, End-user, Region
Companies covered (12): Dow Chemical Company, Wacker Chemie, Chang Chun Group, Kuraray Co., LyondellBasell Industries, Sipchem, Japan VAM & Poval Co., Sinopec Group, Solventis, Lotte BP Chemical Co. Dairen Chemical Corporation Celanese Corporation, etc.
Growth Drivers:
  • Global drivers
    • Rising global demand for paints & coatings in construction industry
  • Regional drivers
    • Increasing investment in infrastructure and building activities
    • Growing demand for packaging application
Pitfalls & Challenges:
  • Unstable raw material prices
  • Stringent environment regulation

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Rising adoption of VAM in polyvinyl acetate will propel consumption

Vinyl Acetate Monomer Market by Application

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The polyvinyl acetate (PVA) application segment was over USD 3.2 billion in 2019 and is likely to grow at a decent growth rate of 4.3% in the overall vinyl acetate monomer market. Over 37% of VAM production goes into PVA, which is a primary molecule in adhesives, paints, construction, textile, and architectural coatings. Polyvinyl acetate includes all copolymers and homopolymers, where vinyl acetate content is under 50%. It is produced in an emulsion form. PVAc emulsions are applicable as adhesives in porous materials such as cloth, paper, wood, handicraft, etc.
 

Copolymer’s low VOC content makes it an ideal choice in architectural coatings and construction mortars. It consists of 80–90 percent of vinyl acetate and 10–20 percent ethylene, butyl acrylate, vinyl versatate, and other modifiers.
 

Textile end-user will accommodate substantial share in the VAM market

Vinyl Acetate Monomer Market by End-User Sector 

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Textile end-use industry will foresee substantial gains of 4.1% CAGR from 2020 to 2026. Regulatory bodies, such as The Andean Trade Preference Act, African Growth, and Opportunities Act, help to attain equal market access and enable a liberal textile trade amongst developing & developed countries. The textile industry is growing at a rapid rate due to changing consumer tastes and demand. The vinyl acetate monomer market is evolving due to the preference for sophisticated clothing. PVA emulsion is used in the textile business as a stiffening agent. It enables interlining for superior body handle and helps in imparting stiffness to textiles.
 

Europe is anticipated to be among leading regional VAM markets

Vinyl Acetate Monomer Market by Region

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The Europe will hold a revenue size of over USD 2.43 billion in 2026. The region has a large number of cosmetics & toiletries, packaging, and electronics product manufacturers. The region has some of the most stringent laws for these products. Favorable regulatory environment is expected to increase the vinyl acetate monomer market growth in the region.
 

According to Food Drink Europe, in 2019, Europe’s turnover on food & beverage products was USD 1.2 trillion. There was an increase of 46% in the number of innovative companies in the food & beverage sector. This can be attributed to the increasing awareness about nutritional and organic food items. The growing food & beverage business will lead to the development of innovative packaging solutions to match the consumers’ expectations.
 

Acquisitions, joint ventures, and geographical expansion are prime strategies

The VAM market has widespread applications in almost any industry. Capacity expansions and acquisitions are the key focus of companies. The vinyl acetate monomer industry is moderately consolidated with presence of large manufacturers with significant production capacities. For instance, Dairen Chemical Corporation is a leading manufacturer of VAM, Vinyl Acetate Ethylene (VAE) emulsion, Allyl Alcohol, VAE redispersible Powder, etc. The company has production sites in Taiwan, Singapore, China, and Malaysia.
 

In April 2018, Celanese Corporation announced the expansion of its acetic acid & vinyl acetate monomer capacity and debottlenecking projects at the company’s global manufacturing facilities located at Texas, the U.S. The expansion plan will add incremental capacity or production volumes as per the vinyl acetate monomer market growth. Other notable players operating in the industry include Dow Chemical Company, Wacker Chemie, Chang Chun Group, Kuraray Co., LyondellBasell Industries, Sipchem, Japan VAM & Poval Co., Sinopec Group, Solventis, and Lotte BP Chemical Co.
 

The vinyl acetate monomer market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2016 to 2026, for the following segments:
 

By Application

  • Polyvinyl Alcohol (PVOH)
    • Packaging
    • Construction
    • Textile
    • Cosmetic
    • Others
  • Polyvinyl Acetate (PVA)
    • Packaging
    • Construction
    • Textile
    • Cosmetic
    • Others
  • Ethylene-Vinyl Acetate (EVA)
    • Packaging
    • Construction
    • Textile
    • Cosmetic
    • Others
  • Vinyl Acetate Ethylene (VAE)
    • Packaging
    • Construction
    • Textile
    • Cosmetic
    • Others
  • Ethylene-Vinyl Alcohol (EVOH)
    • Packaging
    • Construction
    • Textile
    • Cosmetic
    • Others
  • Others
    • Packaging
    • Construction
    • Textile
    • Cosmetic
    • Others

By End User

  • Packaging
  • Construction
  • Textile
  • Cosmetic
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
       

Frequently Asked Questions (FAQ) :

Predicted revenue share of vinyl acetate monomer market is 10Bn by 2024.
Vinyl acetate monomer market size is expected to grow at a crcr of 4.6% over the forecast period.
In 2019, global VAM industry size was worth USD 8.97 billion and the business may depict 4.2% CAGR through 2026.
The polyvinyl acetate (PVA) application segment accounted for USD 3.2 billion of VAM market size in 2019 and may depict 4.3% CAGR through 2026, as over 37% of VAM production goes into PVA that is used in construction, paints, textiles, etc.
Textile end-use industry may exhibit 4.1% CAGR through 2026, driven by massive demand for textiles worldwide owing to changing consumer tastes and evolution of this sector due to preference for sophisticated clothing.
Europe vinyl acetate monomer market size may hit USD 2.43 billion in 2026, given that the region hosts numerous packaging, electronics, and cosmetic product manufacturers.

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Premium Report Details

  • Published Date: Sep 2020
  • Pages: 338
  • Tables: 403
  • Charts / Figures: 40
  • Companies covered: 12
  • Countries covered: 17

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