Celanese Corporation Invests in Research and Development to Enhance Properties of Vinyl Acetate Monomers
The global vinyl acetate monomers market is valued at US$ 8.8 billion in 2022 and is expected to expand at a CAGR of 4.7% to reach US$ 13.9 billion by the end of 2032. Vinyl acetate monomer (VAM) is a colorless, flammable liquid that is used primarily in the production of polyvinyl acetate (PVA) and other polymers. The global vinyl acetate monomer market is expected to grow in the coming years due to increasing demand for PVA and other vinyl-based polymers
The major end-use applications of VAM are in the manufacturing of adhesives, coatings, paints, and textiles. These applications are used in various industries such as construction, packaging, automotive, and electronics, among others. The demand for VAM is also increasing 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.
Market Development
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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Competitive Landscape
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
- ShinEtsu
- Wacker Chemie AG
- Dairen Chemical Corp
- Kuraray Co. Ltd.
- Sipchem
Regional Analysis For Vinyl Acetate Monomers Market
- North America and Europe are mature markets for VAM, with a well-established manufacturing and consumption base. These regions have a high demand for adhesives and coatings, which are major end-use applications for VAM. However, the market growth in these regions is expected to be slower than in other regions due to the saturation of demand.
- The Asia-Pacific region is the largest and fastest-growing market for VAM, with China being the dominant consumer and producer of VAM. The demand for VAM in the Asia-Pacific region is driven by the rapid growth of the construction and textile industries, coupled with increasing urbanization and population growth.
- Latin America and the Middle East & Africa regions are emerging markets for VAM, with increasing demand for adhesives and coatings. The market growth in these regions is expected to be driven by the growing construction and automotive industries.
Segmentation of Vinyl Acetate Monomers Industry Survey
- By Purity :
- 99% & Above
- <99%
- By Application :
- Polyvinyl Alcohol
- Polyvinyl Acetate
- Ethylene Vinyl Acetate
- Ethylene Vinyl Alcohol
- By End-use Industry :
- Packaging
- Construction
- Textiles
- Cosmetics
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