Vinyl Acetate Monomer Market

Global Vinyl Acetate Monomer Market Size, Share & Trends Analysis Report By End-user (Construction, Packaging, Textile, Cosmetics, and Others), By Application, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-22493 Publication Date: May-2024 Number of Pages: 302
2023
USD 9.5 Billion
2031
USD 13.5 Billion
CAGR
4.7%
Historical Data
2020 to 2022

Market Report Description

The Global Vinyl Acetate Monomer Market size is expected to reach $13.5 billion by 2031, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 6,632.1 kilo tonnes, experiencing a growth of 19.1% (2020-2023).

VAM is a key component in the production of textile binders used in textile finishing processes.  Thus, the textile segment acquired 17.6% revenue share in the market 2023. In terms of volume, the textile segment attained a volume of 1,131.4 kilo tonnes in the market 2023. Textile binders based on VAM provide excellent adhesion, flexibility, and durability to textile fibers, fabrics, and substrates. These binders enhance the performance of textile materials by improving their strength, dimensional stability, and resistance to abrasion, wrinkling, and washing.

Vinyl Acetate Monomer Market Size - Global Opportunities and Trends Analysis Report 2020-2031

VAM is widely used in producing ethylene-vinyl acetate (EVA) films, essential components in photovoltaic (PV) solar panel encapsulation. EVA films protect solar cells from environmental factors such as moisture, dust, and mechanical stress while allowing light transmission to maximize energy conversion.

Additionally, VAM-based polymers are extensively used in the automotive industry for interior components such as door panels, dashboard trims, and upholstery. These polymers, often vinyl acetate copolymers, offer desirable properties such as flexibility, durability, and resistance to wear and tear. In conclusion, the growing automotive sector globally is propelling the growth of the market.

However, Sharp increases in raw material prices lead to higher production costs for VAM manufacturers, squeezing profit margins and reducing competitiveness. Cost pressures may force manufacturers to pass on price increases to customers, risking demand erosion and market share loss. Hence, volatility in raw material prices is hampering the market’s growth.

Driving and Restraining Factors
Vinyl Acetate Monomer Market
  • Innovative applications in renewable energy
  • Growing automotive sector globally
  • Increasing construction activities worldwide
  • Volatility in raw material prices
  • Health and safety concerns related to vinyl acetate monomer (VAM)
  • Expansion of manufacturing facilities
  • Rising demand for waterborne adhesives
  • Increasing substitution by alternatives
  • Complex regulatory landscape

Application Outlook

Based on application, the market is divided into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others. In 2023, the polyvinyl acetate (PVA) segment garnered 43.5% revenue share in the market. In terms of volume the PVA segment would attain volume of 4,027.7 kilo tonnes in the market 2029

Vinyl Acetate Monomer Market Share and Industry Analysis Report 2023

End User Outlook

On the basis of end-user, the market is divided into construction, packaging, textile, cosmetics, and others. In 2023, the packaging segment registered 28.5% revenue share in the market. In terms of volume, the packaging segment would attain a volume of 2,590.3 kilo tonnes in the market 2028.

Free Valuable Insights: Global Vinyl Acetate Monomer Market size to reach USD 13.5 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated 26.2% revenue share in the market in 2023. In terms of volume, the North America region would attain a volume of 2,149.3 kilo tonnes in the market 2030.

Vinyl Acetate Monomer Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 9.5 Billion
Market size forecast in 2031 USD 13.5 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 4.7% from 2024 to 2031
Quantitative Data Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031
Number of Pages 302
Number of Tables 570
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered End-user, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Celanese Corporation, LyondellBasell Industries Holdings B.V., The Dow Chemical Company, DuPont de Nemours, Inc., Wacker Chemie AG, Kuraray Europe GmbH (Kuraray Co., Ltd.), INEOS Group Holdings S.A, Sinopec Group (China Petrochemical Corporation), Sipchem Company, Exxon Mobil Corporation
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Recent Strategies Deployed in the Market

  • Nov-2023: BASF and SINOPEC have unveiled the newly expanded downstream chemical plants at the Verbund site managed by BASF-YPC Co., Ltd. (BASF-YPC), a joint venture split equally between the two companies in Nanjing. The expansion is a strategic reaction to the increasing demand from diverse industries in the Chinese market.
  • Sep-2023: INEOS Group Holdings S.A. announced an agreement with Eastman Chemical Company to acquire the Eastman Texas City facility, encompassing the 600kt Acetic Acid plant and all affiliated third-party operations situated at the site. Under this agreement, INEOS Group would enhance its global market presence and product portfolio.
  • May-2023: The Dow Chemical Company came into partnership with New Energy Blue, LLC, a US-based service for renewable companies. Through this partnership, Dow Chemical would create biodegradable plastic materials using corn residue.
  • May-2023: Wacker Chemie AG has accomplished the capacity expansion for vinyl acetate-ethylene copolymer (VAE) dispersions and VAE dispersible polymer powders at its Nanjing facility in China.
  • Mar-2020: Wacker Chemie AG is extending its recent product line of polymeric binders, utilizing renewable resources. Through its VINNECO® brand, the Munich-headquartered chemical company will provide a re-dispersible polymer powder crafted from biobased acetic acid. The dispersible polymer powder VINNECO® 5044 N is primarily designed for the manufacture of construction materials, including waterproofing membranes and dry-mix mortars used in external thermal insulation composite systems (ETICS).

List of Key Companies Profiled

  • Celanese Corporation
  • LyondellBasell Industries Holdings B.V.
  • The Dow Chemical Company
  • DuPont de Nemours, Inc.
  • Wacker Chemie AG
  • Kuraray Europe GmbH (Kuraray Co., Ltd.)
  • INEOS Group Holdings S.A
  • Sinopec Group (China Petrochemical Corporation)
  • Sipchem Company
  • Exxon Mobil Corporation

Vinyl Acetate Monomer Market Report Segmentation

By End-user (Volume, Kilo Tonnes, USD Billion, 2020-2031)

  • Construction
  • Packaging
  • Textile
  • Cosmetics
  • Others

By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)

  • Polyvinyl Acetate (PVA)
  • Polyvinyl Alcohol (PVOH)
  • Ethylene-Vinyl Acetate (EVA)
  • Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
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