Vinyl Acetate Monomer (VAM) Market - By Application (Polyvinyl Alcohol [PVOH], Polyvinyl Acetate [PVA], Ethylene-Vinyl Acetate [EVA], Vinyl Acetate Ethylene [VAE], Ethylene-Vinyl Alcohol [EVOH]) and End-User Industry & Forecast, 2022-2028

Vinyl Acetate Monomer Market Size

Vinyl Acetate Monomer Market size was valued at USD 8.2 billion in 2021 and is expected to showcase considerable growth at a CAGR of 4.7% from 2022 to 2028 due to the growing demand for emulsions & adhesives owing to their increasing usage in the packaging and construction sectors. The industry size is anticipated to hit 9,366.8 Kilo Tons by 2028 in terms of volume with an anticipated CAGR of 4.5% through the forecast period.
 

Vinyl acetate monomer is a colorless chemical solution that is mostly used to manufacture various polymers and industrial solutions. It is an antecedent for polymers including Polyvinyl alcohol (PVOH), Polyvinyl Acetate (PVA), Ethylene-vinyl Acetate (EVA), and Vinyl Acetate Ethylene (VAE), and Ethylene-vinyl alcohol (EVOH). Vinyl monomer acetate is used in various end-use applications owing to its properties including high adhesiveness, fiber-forming ability, colorless, clear optical, and conductive properties.
 

As a result, vinyl acetate monomer is in high demand from end-use applications such as paints & coatings, printing & dyeing, lamination & paper coating, and electronics.
 

The construction industry is growing at a high rate around the globe, especially in developing & emerging economies such as China, India, Indonesia, Brazil, and some European countries. With changing lifestyles, people are increasingly preferring packaged food; thus, the packaged food industry is now booming. In addition, people are investing in the renovation and redecoration of households due to changes in lifestyles & people’s tastes and increasing disposable incomes in developed European economies and the U.S., further strengthening the vinyl acetate monomer market share.
 

High growth in the packaged food industry over the past few years resulted in the huge demand for VAM-based packaging materials from the food & beverages industry. In recent years, the food & beverages industry changed noticeably due to distinct changes in people’s eating patterns owing to fast-moving working populations around the world.
 

VAM-based packaging solutions prevent product retardation, maintain the beneficial effects of processing, increase shelf-life, and maintain food quality & safety. This expanding use of VAM in food packaging is set to drive the vinyl acetate monomer market growth in the coming years. Growth in the organized retail sector, the e-commerce industry, and consumer flexible packaging is set to stoke up the demand for products.
 

However, stringent government rules & regulations regarding production of vinyl acetate monomers due to its carcinogenicity & flammable nature will affect market growth. Environmental policies of governments and highly volatile raw material prices limit production to some extent.
 

Vinyl Acetate Monomer Market Analysis

The polyvinyl acetate segment exhibited the highest market share and is expected to generate around USD 4 billion by 2028. Polyvinyl acetate is increasingly used in paint & coating materials, adhesives, and some food products such as chewing gum. The high demand for polyvinyl acetate can be attributed to its chemical properties such as colorless, odorless, tasteless, non-toxic, transparent in nature, and insoluble in water, oils, or fats.
 

Owing to these chemical properties, polyvinyl acetate is used in latex paints, water-based emulsion paints, adhesives, ink, surgical dressings, and lacquers. There is a huge demand for polyvinyl acetate from the construction & packaging industry, followed by the textile, cosmetics, and printing industries.
 

The construction segment is expected to contribute around USD 3.7 billion by 2028, growing at a CAGR of nearly 5% from 2022 to 2028. The rapidly expanding construction of new residential & commercial structures around the globe owing to rapid urbanization, developing economies, and increased disposable incomes will support market growth.
 

Personal spending on construction & building work increased over the past few years in the developing economies of Asia and Africa. This growing construction sector resulted in huge demand for paints & coatings. Vinyl Acetate Ethylene (VAE) has a comparably low environmental impact and is used in constructions for external paint & coating purposes.
 

The North America market was valued at over USD 1.4 billion in 2021 and is expected to account for over USD 1.9 billion by 2028. According to the U.S. census, by the end of January 2020, around 1,530 thousand building permits were issued for new residential constructions.
 

New construction rates are expected to significantly grow by 2022, resulting in the steady Vinyl Acetate Monomer (VAM) market growth in the region over the forecast period. The noticeably developing e-commerce and food & beverage industries are adding to the high demand for reliable packaging solutions, further fueling the vinyl acetate monomer market revenue.
 

Vinyl Acetate Monomer Market Share

The global vinyl acetate monomer industry players majorly focus on increasing their product penetrations by enhancing their manufacturing capacities. The major players are expanding their manufacturing capacities and regional presence in emerging economies. Some of the key manufacturers include:

• The Dow Chemical Company
• Wacker Chemie
• Celanese Corporation
• Kuraray Co Ltd
• Sipchem
• Dairen Chemical Corporation
• Sinopec Corp
• Chang Chun Group
• Lyondellbasell
• Japan Vam
• Poval Co Ltd.
• Solventis Ltd.
   

The Vinyl Acetate Monomer (VAM) Market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilotons and revenue in USD million from 2022 to 2028 for the following segments:

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By Application

• Polyvinyl Alcohol (PVOH)
• Polyvinyl Acetate (PVA)
• Ethylene-Vinyl Acetate (EVA)
• Vinyl Acetate Ethylene (VAE)
• Ethylene-Vinyl Alcohol (EVOH)
• Others

By End-User Industry

• Packaging
• Construction
• Textile
• Cosmetics
• Others

By Region

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