Vinyl Acetate Monomer (VAM) Market size will exceed $10.19 billion by 2026

According to a new research report by Global Market Insights, Inc., the Vinyl Acetate Monomer Market size will exceed USD 10.19 billion by 2026. Revival in the construction industry will lead to increased demand for the paints & coatings sector in the coming years.
 

Continuous expansion of the paints & coatings sector will result in increased consumption for VAM

The paints & coatings industry is a dynamic part of any nation’s economy and plays a key role in preserving and protecting everyday objects to large infrastructures. Along with providing aesthetic appeal, paints & coatings work as protective barriers to extend the useful life of the surface and substrates to which they are applied. Paints & coatings are often indispensable products. Coatings not only help in preserving cars and homes, they also preserve bridges and tunnels and keep buildings cooler and aesthetically appealing.

 

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VOC emissions in the U.S. from constructional coatings have decreased over the last few years, even though the use of construction coatings has increased. The Toxic Release Inventory (TRI) by the U.S. Environmental Protection Agency (EPA) indicates that the toxic release by the paints & coatings sector decreased by 81% between 1990 and 2014. Along with protecting the structure and objects, the paints & coatings sector is also focused on protecting the environment.
 

Development of sustainable & non-polluting manufacturing processes as well as products that limit emissions of Volatile Organic Compounds (VOCs) and Hazardous Air Pollutants (HAPs) are some of the strategies adopted by industry players.
 

Economic and demographic growth, increasing residential remodeling, growing urbanization, and increasing expenditure on commercial infrastructure are the major factors for the growth of the construction sector. In addition, polymers produced from vinyl acetate monomer have a huge potential in diverse products including adhesives, water-based paints, lacquer, printing inks, and ceramic, opening varied avenues in industries including electronics, construction, textile, packaging, paper finishing, and protective colloids.
 

Browse key industry insights spread across 338 pages with 403 market data tables & 40 figures & charts from the report, “Vinyl Acetate Monomer Market 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” in detail along with the table of contents:
 
https://www.gminsights.com/industry-analysis/vinyl-acetate-monomer-vam-market
 

COVID-19 has drastically disrupted the raw materials supply chain among nations. Sharp contraction in consumption and consumer expenditure has plunged top G7 economies. The major impact on vinyl acetate monomer market demand is primarily caused by decreased production output of vinyl acetate derivative, erosion of purchasing power of consumers, and subsequent decrease in the production of VAM.
 

Major producers, such as Dairen Chemical Corp. and Celanese, slashed production output by 50% in the second quarter of 2020. The decrease in production capacity is mainly due to squeezed margin and weak demand. Several other vinyl acetate monomer market manufacturers in China and Japan underwent scheduled maintenance due to the weak product demand from downstream manufacturers.
 

In the second half of 2020, the supply & demand of VAM is likely to stay uncertain owing to expected hit of second wave of coronavirus, weak demand from end-user industries, credit crunch, and economic uncertainties. In addition, unstable raw material prices of product will hamper the VAM market sales during assessment period.
 

Polyvinyl alcohol to accommodate majority position in application segment

The polyvinyl alcohol (PVOH) segment will hold a revenue of over USD 2.84 billion of the overall vinyl acetate monomer market by 2026. This synthetic polymer is generally utilized in diverse end-use markets such as paper, textile, coatings, food packaging, construction, and pharmaceuticals. Its moisture resistant properties make PVOH pre-dominant in the food & beverage packaging industry.
 

The industrial uses of PVOH in food packaging accounted for 18.88% of the global share in 2019. It has high water solubility, film forming ability, biodegradability, and texture retention properties that are suitable in packaged food products. Moreover, rising utility of bio-based materials to minimize pollution will supplement the vinyl acetate monomer market segment.
 

Cosmetics end-use will generate promising revenue growth

The Cosmetics end-user segment held for a market share of over 12.5% in the vinyl acetate monomer industry in 2019 and will grow at a stable growth rate of 4.1% CAGR through 2026. According to the Association of Southeast Asian Nations (ASEAN), the cosmetic industry in the region is anticipated to witness promising gains due to the improving consumer purchasing power and changing lifestyles, resulting in a growing interest for multifunctional products.
 

VAM prevents emulsions from separating into oil and water components. Rising awareness of beauty products, increasing premium on personal grooming, and changing consumption patterns with improved purchasing power will have a positive impact on the cosmetic industry.
 

North America will witness significant growth due to established end-user markets

North America is expected to constitute close to 21% market share of the overall vinyl acetate monomer market by 2026. According to the World Bank, the U.S. expenditure approximates around 16% of its total GDP on healthcare initiatives. The drug manufacturing in the U.S. was valued at USD 160 billion in 2017, which will grow in the near future.
 

Strong R&D activities by key pharmaceutical manufacturers in the U.S. for innovative development of new medicines play a significant role in the robust growth parameters observed in the vinyl acetate monomer market. These trends will trigger the product demand and project promising gains to the overall pharmaceutical packaging market size in the coming years.
 

Pharmaceutical packaging requires next-generation drug containers with improved barrier resistance for drug delivery systems, cap liners, and plunger laminates. Vinyl acetate monomers provide excellent resistance against heat & moisture and are chemically inert. Growing R&D activities will further boost the demand for vinyl acetate monomer market share during the projected period.
 

Strategic collaborations and product development will escalate market competitiveness

The competitive landscape of the vinyl acetate monomer industry is moderately fragmented. Market players are taking steps to expand their geographic limits to gain a competitive advantage. In January 2019, Kuraray formed a joint venture with Sumitomo Corporation from Thailand. The joint venture will focus on a wide range of petrochemical businesses including manufacturing and distribution of upstream, intermediate, and downstream petrochemical products. This will help Kuraray to increase its revenue and boost its sales. In June 2018, Dow Chemicals announced its expansion plans to meet the growing end-market demand. The company plans to expand the alkoxylation facility located in the Gulf Coast of the U.S. This new plant will help Dow Chemical to meet the demand across the Americas, Europe, and Asia.
 

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