Vinyl Acetate Monomer Market Poised to Witness Growth Due to...

Vinyl Acetate Monomer Market Poised to Witness Growth Due to Growing Applications in Polymer Synthesis

Posted 2024-01-04 09:04:23

Vinyl acetate monomer is an ester of vinyl alcohol and acetic acid. It is mostly used as an intermediate in the synthesis of polyvinyl acetate (PVAc), polyvinyl alcohol, ethylene vinyl acetate (EVA) copolymers, and other copolymers. PVAc is used to produce adhesives, sealants, paints, coatings and paper. EVA copolymers are used in solar cell encapsulants, hot melt adhesives and footwear.

The global vinyl acetate monomer market is estimated to be valued at US$ 9.35 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The global vinyl acetate monomer market is estimated to witness high growth owing to growing applications in polymer synthesis. Vinyl acetate monomer is predominantly used for producing polyvinyl acetate which finds usage in adhesives, sealants, paints and coatings industries. These industries have observed significant growth on the backdrop of rising construction activities globally. Adhesive consumption has increased with the growth of packaging, footwear and automotive industries. Moreover, vinyl acetate monomer also acts as a raw material for EVA and other copolymers. EVA copolymers are increasingly replacing PVC in various applications such as wire and cable coatings, footwear, medical devices, and solar encapsulants attributed to advantages such as flexibility and safety. Growing demand for EVA from these end use industries is further augmenting the growth of vinyl acetate monomer market during the forecast period.

SWOT Analysis

Strength: Vinyl acetate monomer possesses unique properties that make it suitable for various applications. It can be easily polymerized to produce other polymers with desirable qualities like flexibility, toughness, and adhesion. The monomer also offers cost-effectiveness relative to other materials. Research and development of new applications has expanded the market potential.

Weakness: Strict environmental regulations regarding VOC emissions during vinyl acetate monomer production pose a challenge. Processing the monomer requires specialized equipment and safety precautions increasing costs. Dependency on petrochemical feedstock prices subjects the market to supply uncertainties.

Opportunity: Rapid growth of end-use industries like construction, packaging, and automotive in developing nations drives demand. New applications in fiber manufacturing and emerging technologies offer scope for market expansion. Collaboration between manufacturers and application industries aids product development.

Threats: Presence of substitute materials reduces dependency on vinyl acetate monomer in certain applications. Imposition of tariffs amid global trade conflicts disrupts supply chains. Environmental concerns regarding plastic waste management limit market prospects. Volatility in crude oil prices impacts raw material costs.

Key Takeaways

The Global Vinyl Acetate Monomer Market Size is expected to witness high growth. The market size for 2024 is forecast to reach US$ 9.35 billion, representing a CAGR of 13% during the period of 2023 to 2030.

Regional analysis: Asia Pacific dominates the global market currently, accounting for over 50% of global vinyl acetate monomer demand. Rapid industrialization and infrastructure growth especially in China, India, and Southeast Asian nations reinforce the leading position of the region. North America and Europe are also major regional markets driven by established end-use industries.

Key players: 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. These companies compete based on product quality, cost effectiveness, reliability of supply, and technical capability.