by The global vinyl acetate monomer market is a lucrative industry owing to its wide application scope across various industries such as paints and coatings, adhesives and sealants, textiles, and packaging. Vinyl acetate monomer is an important raw material used to manufacture polyvinyl acetate and other vinyl polymers, which find applications in a variety of end-use industries. It is used in the production of paints and coatings, which is a fast-growing application area due to the rising infrastructure development and construction activities worldwide. Adhesives, too, witness high demand from industries like packaging, furniture, footwear, construction, and automotive. This fast-growing application segment is expected to boost the global demand for vinyl acetate monomer over the forecast period.
The global vinyl acetate monomer market is estimated to be valued at US$ 10.78 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the vinyl acetate monomer market is the increasing application scope of vinyl acetate monomer in different industries. Vinyl acetate finds diverse applications in the production of adhesives, paints and coatings, textiles, and packaging. The booming paints and coatings industry is attributable to the massive infrastructure development worldwide. Furthermore, the packaging industry is growing rapidly with the increased demand from the food and beverage sector. This expanding application base across industries is expected to propel the demand for vinyl acetate monomer over the forecast period. Another factor fueling the market growth is the shifting focus toward green technologies. Eco-friendly water-based adhesives produced using vinyl acetate monomers are gaining widespread acceptance. Their easy removal properties and low VOC emissions make them suitable for various applications. This growing emphasis on sustainability is anticipated to boost the sales of vinyl acetate monomers.
Segment Analysis
The global vinyl acetate monomer market is dominated by the paints, coatings, and adhesives sub-segment. This sub-segment accounts for over 30% of the total market share owing to wide applications of vinyl acetate monomer in various formulations of paints, coatings, adhesives and sealants. Vinyl acetate monomer imparts properties such as flexibility, adhesion and binding strength to these items.
PEST Analysis
Political: Any changes in environmental policies regarding emissions can impact production volumes. Recent tightening of VOC emission norms in Europe and North America favoured market growth.
Economic: As the building and construction industry grows, demand rises from the paints, coatings and adhesives segment of the vinyl acetate monomer market. Growth in the textile industry also drives market expansion.
Social: Increasing disposable incomes fuel demand for superior quality furniture, footwear and other consumer goods requiring vinyl acetate monomer.
Technological: Developments in emulsion polymerization techniques help manufacturers improve production efficiency while minimizing emissions.
Key Takeaways
The Global Vinyl Acetate Monomer Market size is expected to witness high growth over the forecast period of 2024 to 2031. The global vinyl acetate monomer market is estimated to be valued at US$ 10.78 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Regional analysis:
The Asia Pacific region is expected to remain the fastest growing as well as the largest market for vinyl acetate monomer during the forecast period. Countries such as China, India, Japan and South Korea are major producers and consumers in this region. This is attributed to large manufacturing bases for paints, coatings, textiles as well as packaging 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.
