SEATTLE, July 09, 2021 (GLOBE NEWSWIRE) -- Global Vinyl Acetate Monomer Market is estimated to account for US$ 12,621.1 Mn by end of 2027, Says Coherent Market Insights (CMI)
Vinyl Acetate Monomer is one of the strongest adhesives used in a wide variety of industrial applications. It has excellent dimensional stability and excellent chemical resistance. The use of vinyl acetate monomer in the production of industrial lubricants, sealants, waterproofing oils, and other similar products is very common. A major benefit of this type of adhesive is that it can be applied with a smooth and consistent feel via its high molecular weight. Furthermore, this material can provide superior flexibility for the application of sealants and other fluids, as well as providing exceptional resistance to most solvents. As discussed before, Vinyl Acetate Monomer is made from two different organic polymers, which are Vinyl Acetate (VAM) and ethylene-propylene sulfate (EPS), which have each unique chemical makeup.
The global Vinyl Acetate Monomer market is estimated to account for US$ 12,621.1 Mn in terms of value by the end of 2027, witnessing a CAGR of 4.5% during the forecast period (2020-2027).
Market Dynamics- Drivers
1. Increasing demand for paints and coatings in the construction industry is expected to drive growth of the global vinyl acetate monomer market during the forecast period
Vinyl acetate monomer or VAM is a significant intermediate element used in the production of paints & coatings along with adhesives, glues & sealants, and textile finishes. Both paints & coatings have witnessed significant demand from the construction industry across the globe due to rising urbanization and the global population. As per the United Nations (UN), by 2050, around 68% of the global population is expected to live in urban areas, increasing from 55% in 2018. Hence, such factors are expected to drive growth of the global vinyl acetate monomer market during the forecast period.
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2. Growing demand for packaging solutions is expected to propel the global vinyl acetate monomer market growth over the forecast period
Another major application of VAM is in packaging solutions. VAM is typically used in the manufacturing of ethylene vinyl alcohol (EVOH), which is further used as a barrier resin in food packaging, gasoline tanks, plastic bottles, and in engineering polymers. As a result of this, the demand for vinyl acetate monomer is increasing rapidly. Therefore, these factors are expected to propel the global vinyl acetate monomer market growth over the forecast period.
Market Opportunity:
1. High demand for shale gas for production vinyl acetate monomer can present lucrative growth opportunities in the global vinyl acetate monomer market
The demand for shale gases has increased over the years for the manufacturing of vinyl acetate monomer’s raw materials. Crude is the base material used in the manufacturing of ethylene, which is typically produced through the cracking of naphtha. As per the U.S. Energy Information Administration (EIA), in April 2021, the global consumption of crude oil was around 96.2 million barrels per day with an increase of 15.8 million barrels per day from April 2020.
2. Rising investment in infrastructure and building activities can provide major business opportunities in the global vinyl acetate monomer market
Many countries across the globe are focused on investing in public infrastructure and building activities, in order to cater to rising population. According to the India Brand Equity Foundation (IBEF), India is expected to become the world’s third-largest construction market by 2022. According to the same source, India plans to spend around US$ 1.4 trillion on infrastructure projects through the National Infrastructure Pipeline (NIP) from 2019 to 2023.
Market Tends
1. High demand for eco-friendly packaging is an emerging trend
The demand for flexible packaging is increasing rapidly. Flexible packaging is widely used in fast-food restaurants and take-away outlets for storing and packaging food items on the go. As a result of this, there is high demand for eco-friendly packaging, which is easy to reuse and recycle, thereby accelerating growth of the packaging industry.
2. Growing focus of marketers on expanding production capacity is another key trend
Key companies in the market are focused on expanding their production capacity by making a significant investment, in order to gain a competitive edge in the market. For instance, in July 2020, KBR partnered with Shenghong Refining Petrochemical (Lianyungang) Co. Ltd., China, wherein KBR will supply the proprietary catalyst for a Shenghong’s grass-root 300 KTA Vinyl Acetate Monomer (VAM).
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Key Company Analysis Covered in this Report:
Major companies involved in the global vinyl acetate monomer market are Wacker Chemie AG, Celanese Corporation, The Dow Chemical Company, Dairen Chemical Corporation, China Petroleum & Chemical Corporation (Sinopec Corp.), Japan VAM & POVAL Co. Ltd., Ningxia Yinglite Chemical Co., Ltd., Kuraray Co. Ltd., and Lyondell Basell Industries.
For instance, in October 2020, Wacker Chemie AG announced to invest US$ 100 million to expand its
Market Segmentation:
- By Application
- Polyvinyl Acetate (PVAc)
- Polyvinyl Alcohol (PVOH or PVA)
- Ethylene-Vinyl Acetate (EVA)
- Ethylene-Vinyl Alcohol (EVOH)
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in U.K. and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.