Vinyl Acetate Monomer (VAM) Market Analysis

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.