Newark, NJ, Feb. 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global vinyl acetate monomer market is expected to grow from USD 7.43 billion in 2017 to USD 10.78 billion by 2025, at a CAGR of 4.76% during the forecast period from 2018-2025. Global vinyl acetate monomer market is growing at a rapid pace from the past few years, owing to rising demand from construction industry. Increasing construction sector in the developed and developing countries and rising government initiative to enhance the infrastructure sector, offering the new opportunities for vinyl acetate monomer in the construction industry.
Vinyl acetate monomer is a key intermediate used in the marking of a number of polymers and resins for adhesives, films, textiles, coatings, paints, and other end-products. It is an organic colorless compound made up from reaction of acetic acid and ethylene, with oxygen in the presence of palladium catalyst. Polyvinyl alcohol is the most important derivative of vinyl acetate monomer and has wide application in textiles, packaging films, adhesives, photosensitive coatings and thickeners segments.
Global vinyl acetate monomer market is expected to witness rapid growth over the forecast period, owing to increasing demand from various end user industries. In addition to this, rising global demand for paints, coatings, textiles, adhesives is projected to propel the growth of vinyl acetate monomer market. However, volatility in raw material and strict environmental regulations on the production process, projected to hamper the market growth over the forecast period. Furthermore, rising demand for the ethyl vinyl acetate films from solar energy sector and increasing demand for EVOH films from the food processing industry, is anticipated to provide potential opportunities for the vendors in upcoming years.
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Key players operating in the global vinyl acetate monomer market include are The Dow Chemical Company, Kuraray, Sahara International Petrochemical Company (Sipchem), Ningxia Yinglite, Wacker Chemie, Celanese, Dairen Chemical Corporation, Sinopec, LyondellBasell Industries, Ineospec Inc, Exxon Mobil Corporation, Arkema, and Japan VAM & POVAL Co. Ltd. among others. To enhance their market position in the global vinyl acetate monomer market, the key players are now focusing on adopting the strategies such as recent developments, product innovation, joint venture, mergers & acquisitions, collaborations, and partnership. To effectively meet the unabated demand for vinyl acetate monomer, major firms are aggressively focussing on ramping up their production capacities.
- For instance, in the April 2018, Celanese announced the expansion of VAM capacity at its Clear Lake, Texas, USA facility. Once this additional production capacity is added, the total capacity for VAM at the Clear Lake facility will be 450kT per annum, making it the largest and most efficient VAM plant in the world.
- In July 2019, Sahara International Petrochemical Company (Sipchem) announced the upgradation of its vinyl acetate monomer plant, enhance the reliability of production and allow the IVC plant to achieve its future operational plans.
- In April 2018, Wacker Chemie introduced the new process for making vinyl acetate, a key ingredient in its polymer dispersions, from cellulosic materials.
- In November 2019, Shenghong Refining Petrochemical (Lian Yun Gang) Co. Ltd., China, awarded contact to KBR Inc. for Vinyl Acetate Monomer (VAM) technology by. This is the first commercial vinyl acetate monomer technology license secured under an alliance agreement between KBR and Showa Denko K.K. (SDK) to commercialize SDK's VAM technology.
Polyvinyl acetate (PVA) held the largest market share of 32.64% in 2017
Application is segmented into polyvinyl alcohol (PVOH), polyvinyl acetate (PVA), ethylene vinyl acetate (EVA), ethylene vinyl alcohol (EVOH) an others. PVA emerged as the largest segment in global vinyl acetate monomer (VAM) market with a 32.64% share of market revenue in 2017. PVA is widely used in the production of adhesives owing to its superior adhesion property to various substrates such as wood, metal, plastic. PVOH segment also accounted for a significant market share in 2017 owing to applications in production of coatings and water soluble packaging materials.
Construction segment is projected to grow at the highest CAGR of 7.05% over the forecast period End user industry segment is divided into packaging, construction, automotive, textile, and others. Construction segment is projected to grow at the highest CAGR of 7.05% over the forecast period. Increasing demand for the coatings and paints from the construction sector is driving this increase in demand for vinyl acetate monomer. Increasing construction activities, owing to rising population and urbanization is expected to provide further growth opportunities in the vinyl acetate monomer market.
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Regional Segment Analysis of the Vinyl Acetate Monomer Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Africa. Growth of end user industries such as textiles, construction and increasing demand for packaging, coatings and adhesives led Asia Pacific region emerge as the largest market for vinyl acetate monomer with USD 3.24 billion revenue in 2017. China holds the largest market share in the vinyl acetate monomer in the Asia Pacific region. This is mainly attributed to absence of stringent manufacturing regulations and supportive trade regulations coupled with favorable government programs in the country. North America region is projected to clock a robust growth rate on account of healthy demand for vinyl acetate monomer from its well-established packaging and automotive industry.
About the report:
The global vinyl acetate monomer market is analysed on the basis of value (USD Billion), volume (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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