The global vinyl acetate monomers market is worth $8.8 billion in 2022 and is expected to grow at a 4.7% CAGR to $13.9 billion by the end of 2032. Vinyl acetate monomer (VAM) is a colourless, flammable liquid primarily used in the manufacture of polyvinyl acetate (PVA) and other polymers. Because of rising demand for PVA and other vinyl-based polymers, the global vinyl acetate monomer market is expected to expand in the coming years.
VAM's primary end-use applications are in the production of adhesives, coatings, paints, and textiles. These applications are used in a variety of industries, including construction, packaging, automotive, and electronics. VAM is also in high demand in the food packaging industry due to its non-toxic and non-carcinogenic properties.
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The Asia-Pacific region is expected to dominate the global VAM market due to the presence of large textile and construction industries in the region. China is the largest consumer and producer of VAM in the world, followed by Japan and South Korea. North America and Europe are also significant markets for VAM due to the presence of large adhesive and coatings industries in these regions
Key Takeaways from Vinyl Acetate Monomers Market Study
- The global vinyl acetate monomers market is projected to expand at a CAGR of 4.7% and reach US$ 13.9 billion by 2032.
- Worldwide sales of vinyl acetate monomers increased at 3.1% CAGR between 2017 and 2021.
- Under application, polyvinyl acetate dominates the market with 42.6% share.
- The construction industry dominates the demand for vinyl acetate monomers with 39.8% market share.
- East Asia leads the global market with 26.9% share in 2021.
- Demand for vinyl acetate monomers is expected to increase at CAGRs of 5.1% and 4.6%, respectively, in South Asia & Oceania and Europe.
To meet the rising demand from end-use industries like construction, packaging, textiles, and cosmetics, top producers like LyondellBasell Industries, Dow Chemicals, and Celanese Corporation have significantly increased their vinyl acetate monomer production capacities in recent years.
High demand has been generated for packaging applications for food and drinks as well as e-Commerce by developing countries in Asia Pacific including China and India. To fulfil the rising demand for vinyl acetate monomers across a range of applications, producers may consider establishing production facilities in these nations.
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To fulfil the rising demand from end-use sectors including construction, packaging, textiles, and cosmetics, major producers of vinyl acetate monomers are aiming to boost their output. Manufacturers are pursuing mergers and acquisitions as a way to access unexplored markets.
- In March 2021, Celanese Corporation increased its production capacity of vinyl acetate monomers and acetic anhydride at its Nanjing site.
- In 2019, Dow Chemicals announced the production of multiple intermediates in Freeport, Texas City, Louisiana, and Louisville. These products include vinyl acetate monomers, methyl methacrylate, and glacier methacrylic acid.
Key Companies Profiled
- LyondellBasell Industries
- Celanese Corporation
- The Dow Chemicals
- Lotte Chemical Corporation
- Royal Dutch Shell
- Wacker Chemie AG
- Dairen Chemical Corp
- Kuraray Co. Ltd.