Vinyl Acetate Monomer Market worth $10.88 Billion by 2028 – Exclusive Report by The Insight Partners
Pune, India, Oct. 03, 2023 (GLOBE NEWSWIRE) — According to our new research study on “Global Vinyl Acetate Monomer Market Size, Share, Growth Factors and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application, End-Use Industry, and Geography,” the global vinyl acetate monomer market size is expected to grow from US$ 7,628.97 million in 2021 to US$ 10,882.28 million by 2028; it is estimated to register a CAGR of 5.2% from 2021 to 2028. The projected growth of the market is attributed to the growing demand from various end-use industries and increasing use of ethylene vinyl acetate in solar modules.
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Global Vinyl Acetate Monomer Market: Competitive Landscape and Key Developments
Celanese Corporation; Chang Chun Group; China Petroleum & Chemical Corporation; Dairen Chemical Corporation; Japan VAM & POVAL Co. Ltd.; LyondellBasell Industries Holdings B.V.; Sipchem; Solventis; The Dow Chemical Company; and Wacker Chemie AG are among the key players operating in the global vinyl acetate monomer market. These players focus on providing high-quality products to fulfill customer demand. They also focus on strategies such as investments in research and development activities and new product launches.
Vinyl Acetate Monomer Market Report Scope, Segmentations, Regional & Country Scope:
|Market Size Value in||USD 7.63 Billion in 2021|
|Market Size Value by||USD 10.89 Billion by 2028|
|Growth rate||CAGR of 5.2% from 2021 to 2028|
|No. of Pages||147|
|No. of Tables||58|
|No. of Charts & Figures||70|
|Historical data available||Yes|
|Segments covered||by Application, End-Use Industry, and Geography|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Oman, Russia, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Companies Covered||Celanese Corporation; Chang Chun Group; China Petroleum & Chemical Corporation; Dairen Chemical Corporation; Japan VAM & POVAL Co. Ltd.; LyondellBasell Industries Holdings B.V.; Sipchem; Solventis; The Dow Chemical Company; and Wacker Chemie AG|
In 2020, Asia Pacific held the largest share of the global vinyl acetate monomer market. The major factors driving the growth of the global vinyl acetate monomer market in Asia Pacific is the growth in urbanization. For instance, in India, the construction industry is the second largest industry after agriculture, which accounts for about 11% of the country’s GDP. With the growing application of vinyl acetate monomer and their derivatives in numerous verticals, along with the efforts undertaken by leading chemical companies, the vinyl acetate monomer market is predicted to grow in the region
Growing Demand from Various End-Use Industries
Vinyl acetate monomer is an essential material in the manufacture of many polymers and resins. Vinyl acetate monomer is the key raw material used for the production of polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), etc. Polyvinyl acetate has strong adhesion properties for various materials, including paper, wood, plastic films, and metals. It is also an important ingredient in wood glue, white glue, carpenter’s glue, and school glue. Polyvinyl alcohol is used for adhesive packaging films. The increasing demand for adhesives from various industries such as construction, furniture, etc., is driving the market growth. For the production of many interior latex paints, vinyl acetate monomer-based polymers are used to provide adhesion of all the ingredients. Additionally, many vinyl acetate monomer-based derivatives are used as a coating in plastic films for food packaging. Polyvinyl alcohol is used in photosensitive coatings. Hence, increasing demand for paints & coatings across the globe is further boosting vinyl acetate monomer market growth. In textile manufacturing, polyvinyl alcohol is used for warp sizing, a process by which textiles are coated with a protective film so as to reduce breakage during weaving.
Global Vinyl Acetate Monomer Market: Segmental Overview
Based on application, the global vinyl acetate monomer market is segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others. The polyvinyl acetate (PVA) segment held the significant share in the global vinyl acetate monomer market and is expected to register the significant growth over the forecast period. Vinyl acetate monomer is the key raw material used for the production of polyvinyl acetate (PVA). Polyvinyl acetate has good adhesive characteristics for a number of materials, including paper, wood, plastic films, and metals. Polyvinyl acetate is a significant ingredient in wood glue, white glue, carpenter’s glue, and school glue. Polyvinyl acetate homopolymers can also be used in paper and paperboard coatings, construction products, carpet backing, paints and industrial coatings, and engineered fabrics.
Based on end-use industry, the global vinyl acetate monomer market is segmented into construction, packaging, textile, and others. The construction segment held the significant share in the global vinyl acetate monomer market and is expected to register the significant growth over the forecast period. Vinyl acetate monomer is an important intermediate used in the manufacture of various construction materials. Polyvinyl acetate, vinyl acetate ethylene, etc. are used in various building and construction products. Polyvinyl acetate is used in the construction sector as a woodworking glue. There is a high demand for laminated safety glass made by using polyvinyl butyral from the construction industry.
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Impact of COVID-19 Pandemic on Global Vinyl Acetate Monomer Market
The coronavirus outbreak has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals and materials industry is one of the major industries that suffered serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. as a result of this outbreak. The lockdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America and Middle East and Africa affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of various goods. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America have affected the business collaborations and partnerships opportunities. All these factors have affected the chemicals and materials industry in a negative manner and thus acted as restraining factor for the growth of various markets related to this industry. However, as the economies revived their operations, the demand for vinyl acetate monomer is expected to rise globally. The demand for vinyl acetate monomer has started rising with the resumption of construction activities and the lifting of lockdown measures globally.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Ethylene Vinyl Acetate Resins Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis
Vinyl Acetate Homopolymer Emulsion Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis
Ethylene Vinyl Acetate Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis
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