Vinyl Acetate Monomer (VAM) is a flammable mobile liquid that is colorless, volatile, and characteristic with a sweet ethereal odor. It is a dangerous solution when exposed to heat. The other names of vinyl acetic monomers are acetic acid ethenyl ester, acetic acid ethylene ether, acetoxyethene, ethenyl ethanoate, ethenyl acetate, 1-acetoxyethylene, and acetic acid vinyl ester. This liquid is produced by ethylene and acetic acid reacting with oxygen in the presence of palladium catalyst.
It is widely used in manufacturing various chemicals like polyvinyl alcohol, polyvinyl acetate, ethylene vinyl acetate, vinyl acetate-ethylene, ethylene vinyl alcohol, vinyl chloride- vinyl acetate copolymers, and others. Among them, polyvinyl acetate (PVA) is the largest derivative used mainly in adhesives for its good adhesion properties to many substrates that include paper, wood, plastic films, and metals. VAM is used in various applications like paints and coatings, adhesives, laminated automotive and commercial building glass, packaging, textiles, films, and other end products.
The Prominent Key Players in the Vinyl Acetate Monomer Market Trends are the following:
In 2019, a US-based global technology and specialty materials company, Celanese Corporation offers the expansion to its production capacity of VAM in Clear Lake, Texas.
In April 2018, one of the leading company Celanese Corporation announced the expansion of its acetic acid and vinyl acetate monomer capacity and debottlenecking projects at Texas (U.S), the company’s global manufacturing facilities branch. This expansion increases the capacity or production volumes as per the growth of the Vinyl Acetate Monomer Market.
This Vinyl Acetate Monomer Market Research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market dynamics include the Vinyl Acetate Monomer Market drivers, restraints, challenges, and opportunities. The Vinyl Acetate Monomer Market Forecast segments are form, application, end-use industry, and regions.
The Vinyl Acetate Monomer Market Outlook is segmented into Form, Application, End-Use Industry, and Regions.
Polyvinyl alcohol (PVOH), polyvinyl acetate (PVA), ethylene-vinyl acetate (EVA), vinyl acetate-ethylene (VAE), ethylene vinyl alcohol (EVOH), polyvinyl formal, vinyl chloride- vinyl acetate copolymers, and others.
By End-use Industry:
Construction, packaging, textile, adhesives, paints & coatings, consumer & personal care, automotive, and others.
Asia-Pacific, Europe, America, and the Middle East & Africa are the main geographies included in this market.
The COVID-19 pandemic has severely disrupted the Vinyl Acetate Monomer Market due to the continuous lockdowns, supply chain disruptions, manufacturing industries shutdowns, and the construction or textile industries halts. During the first half of 2020, the economies of the U.S, Germany, Italy, Japan, Canada, and France shrank dramatically and recorded their worst GDP due to the dent in consumption.
Due to the government’s strict regulations, the end-use industry and the consumption of their products are severely impacted and hindering the market potential for vinyl acetate monomer producers. The food packaging based on VAM prevents product retardation, increases shelf life, maintains the quality & safety of food which factors surge the Vinyl Acetate Monomer Market. These protecting factors increase the demand for VAM during this pandemic situation as the people are preferring for the safety and quality packaging food. Hence the VAM Market rapidly increases in this period.
By growing the packaging industries across the globe drives the growth of the Vinyl Acetate Monomer Market. Due to convenience and improved product shelf, the demand for the packaged beverages and food products increase which may expect to rise the market growth. By introducing the latest multiple-layer barrier packaging technology in the packaging industry rises the demand for the Vinyl Acetate Monomer Market.
By rising the residential and commercial infrastructure activities in both developed and developing regions, the consumption of vinyl acetate monomer is increased in the construction industry. By accelerating the demand for adhesives, paints, and coatings from major industries like construction, automotive, and packaging industry results in propelling the market growth.
The production of Vinyl Acetate Monomer is regulated for its carcinogenicity and flammable nature. As it is based on acetic acid, VAM is synthetically produced and is very expensive. The fluctuating price of crude shows a direct impact on the Vinyl Acetate Monomer Market Market Price.
By increasing the production of automobiles and rising disposable incomes of consumers are the opportunities of the Vinyl Acetate Monomer Market.
Unstable raw material prices and stringent environmental regulations are the major challenges of the Vinyl Acetate Monomer Market.
Vinyl Acetate Monomer Market Share, by End-Use Industry, 2019 (%):
The Vinyl Acetate Monomer Market Research has been segmented based on Application, End-Use Industry, and Region.
Based on Application:
The Vinyl Acetate Monomer Market based on Application is segmented into polyvinyl alcohol (PVOH), polyvinyl acetate (PVA), ethylene-vinyl acetate (EVA), vinyl acetate-ethylene (VAE), ethylene vinyl alcohol (EVOH), polyvinyl formal, vinyl chloride- vinyl acetate copolymers, and others. Among them, the polyvinyl acetate (PVA) application segment gains USD 3.2 billion in 2019 and is expected to grow at a rate of 4.3 % in the overall market. Nearly 37% of VAM production is used in PVA, a primary molecule in textile, paints, construction, adhesives, and architectural coatings.
Based on End-User:
Based on the End-Use Industry, the Vinyl Acetate Monomer Market is bifurcated into construction, packaging, textile, adhesives, paints & coatings, consumer & personal care, automotive, and others. Out of these, the textile end-use industry foresees substantial gains due to changing consumer tastes and demand. Preferring sophisticated clothing gives growth to the Vinyl Acetate Monomer Market.
Based on Region:
Regionally, the Vinyl Acetate Monomer Market is divided into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa. Among them, Asia-Pacific accounted for the largest market share for its rising residential construction activities in developing nations.
The Vinyl Acetate Monomer Market based on regions is divided into Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Out of these regions, Asia-Pacific holds the largest market share in 2019 and is expected to continue its dominance during the assessment period for its increase in demand for packaged beverages & food products that rises the packaging industry. In addition to that, an increase in residential construction activities in developing nations like India, China, and Thailand and a growing population base and rising disposable incomes of consumers are driving the market in this region.
North America holds significant growth for rising the demand for adhesives and coatings from major industries like construction and automotive. Europe is also the most growing region of the vinyl acetate market for the increasing usage of biodegradable plastic in the packaging industry. Latin America is witnessing considerable growth for the rising demand for packaged beverages and food products owing to the need for convenience and the high per capita income of consumers. The Middle East & Africa also gaining growth for the growing industrial base in this region. Recent DevelopmentAug 2021 Pidilite has increased prices by 4-6 percent, offsetting around 75% of inflation in input costs. Pidilite shares have increased 60% in the last year, surpassing the benchmark index, the Nifty50, which has returned 46% in the same period. Given that chemical vinyl acetate monomer (VAM) is a crucial ingredient for Pidilite Industries Ltd, the price of VAM nearly doubled in the June quarter compared to the same quarter last year, showing that cost inflation has been a nagging worry for investors in the company.Oct 2021 The government of India has given a six-month extension for the necessary application of the BIS (Bureau of Indian Standards) quality criteria on certain monomers, which could bring some relief to resin manufacturers. Maleic anhydride, styrene, and acrylonitrile are among the raw materials for which a six-month delay has been granted for the execution of the necessary BIS quality criteria. The Department of Chemicals and Petrochemicals had previously issued a notification on April 26, 2021, allowing the value chain of maleic anhydride, n-butyl acrylate, vinyl acetate monomer, methyl acrylate, styrene, acrylonitrile, and ethyl acrylate six months to fulfill BIS quality criteria.
|Market Size||2030: Significant Value|
|CAGR||2020-2030: Substantial CAGR|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||DowDuPont (US), Wacker Chemie AG (Germany), Celanese Corporation (US) KURARAY CO., LTD (Japan), Solventis (UK), Sipchem (Saudi Arabia), Innospec (US), Exxon Mobil Corporation (US), Sinopec, China Petrochemical Corporation (China), Arkema (France), and LyondellBasell Industries N.V. (Netherlands)|
|Key Market Opportunities||
|Key Market Drivers||
Vinyl acetate monomer (VAM), also known as acetic acid ethenyl ester is widely used as a basic chemical in the manufacturing of many chemicals. The rapidly growing chemical industry is the major factor driving the applications of VAM.
Vinyl acetate monomer finds its extensive applications in end-use industries such as packaging, automotive, and buildings & construction industry.
Asia Pacific holds the largest share in the global vinyl acetate monomer market followed by North America and Europe, respectively.
Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global vinyl acetate monomer market adopt to gain a larger competitive advantage.
Wacker Chemie AG (Germany), DowDuPont (US), Celanese Corporation (US) Solventis (UK), KURARAY CO., LTD (Japan), Sipchem (Saudi Arabia), Exxon Mobil Corporation (US), Innospec (US), Sinopec, Arkema (France), China Petrochemical Corporation (China), and LyondellBasell Industries N.V. (Netherlands), are some of the leading players in the global vinyl acetate monomer market.