The global Vinyl Acetate Monomer Market is estimated to be valued at US$ 9.35 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Vinyl acetate monomer (VAM) is an industrially important organic compound that is primarily used in the production of polyvinyl acetate (PVAc) and other related polymers such as ethylene-vinyl acetate (EVA) copolymer. It possesses good adhesive properties and flexibility which makes it suitable for various applications including paints & coatings, textiles, adhesives, films/sheets, water-based emulsions, binders and paper coatings. Growth in construction activity has fuelled the demand for paints & coatings which is driving the VAM market.
Market key trends:
One of the key trends in the vinyl acetate monomer market is increasing use of vinyl acetate monomer for water-based adhesives. Water-based adhesives provide advantages such as low odor, non-flammability and low volatile organic compound emissions. Polyvinyl acetate homopolymers and copolymers are primarily used as water-based adhesives. Their good adhesion properties along with flexibility makes them suitable for various materials. Growing environmental regulations regarding emission of volatile organic compounds is expected to drive the demand for water-based adhesives which in turn is boosting the VAM market.
Threat of new entrants: Low capital requirements for manufacturing VAM pose medium threat of new entrants. However, established players enjoy economies of scale and brand reputation.
Bargaining power of buyers: Buyers have medium bargaining power due to availability of substitutes. However, established application areas provide stable demand.
Bargaining power of suppliers: Power of upstream Acetic acid and Ethylene suppliers is medium as they have limited possibilities of forward integration.
Threat of new substitutes: Moderate threat from substitute polymers like PE and PP in some applications. However, favorable properties make VAM difficult to substitute in many end-uses.
Competitive rivalry: Intense competition among key players.
Global Vinyl Acetate Monomer Market Demand is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing demand from the building & construction industry.
Regionally, Asia Pacific dominates the global VAM market, owing to high production and consumption in China and India. Countries like India and Southeast Asian nations are expected to be the fastest growing regional markets.
Key players operating in the Vinyl Acetate Monomer market are Celanese Corporation, Dairen Chemical Corporation, Japan VINYL ACETATE MONOMER & POVAL Co. Ltd., Kuraray Co. Ltd., LyondellBasell Industries, Ningxia Yinglite Chemical Co., Ltd., China Petroleum & Chemical Corporation (Sinopec Corp.), The Dow Chemical Company, Wacker Chemie AG.
The major players are focusing on capacity expansion and backward integration strategies to strengthen their position and meet the growing demand for VAM in the emerging economies.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it