Vinyl Acetate Monomer Market Trends

Global Vinyl Acetate Monomer Market Overview

Vinyl Acetate Monomer Market Size was valued at USD 10.39 Billion in 2023. The vinyl acetate monomer industry is projected to grow from USD 10.91 Billion in 2024 to USD 15.36 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.37% during the forecast period (2024 - 2032). Rising infrastructure spending and increasing environmental concerns have led to more stringent regulations are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vinyl Acetate Monomer Market Trends

• Rising infrastructure spending is driving the market growth

Market CAGR for the vinyl acetate monomer is driven due to its improved adhesive, fiber-forming, optical, and electrical properties; vinyl acetate is one of the most significant monomers in producing adhesives. It is a significant chemical building block that is employed in the production of both industrial and consumer goods. PVA/PVAc (polyvinyl acetate/polyvinyl acetals), PVOH (polyvinyl alcohol), EVA (ethylene vinyl acetate), and EVOH (ethylene vinyl alcohol) are among the consumer and industrial products made from polymers and copolymers using VAM as a precursor. Throughout the forecast period, rising infrastructure spending, especially in emerging economies in Asia Pacific and Latin America, is anticipated to increase demand for paints and coatings, which is expected to benefit the vinyl acetate monomer market. Due to their minimal negative effects on the environment, vinyl acetate-ethylene (VAE) copolymers are perfect for coating architectural surfaces. Low monomer residue, low solvent demand, and development without formaldehyde feedstock or alkylphenol ethoxylate (APEO) raw materials are additional advantages expanding shale gas exploration and production (E&P) activities, particularly in the U.S. is anticipated to guarantee a constant supply of essential raw materials for the production of VAM.

Crude oil is a significant feedstock for ethylene production, which serves as a feedstock for VAM. Compared to crude oil, natural gas from shale has a higher ethane content that is ideal for producing VAMs. Increasing environmental concerns have led to more stringent regulations, which are expected to continue to be a major challenge for market players. Increasing demand for photovoltaic (P.V.) cells and the growth of the food packaging industry are expected to provide future opportunities to VAM market participants. The protective, adhesive layer between the glass and electronic components is provided by EVA copolymer resins used in P.V. cells. In addition to offering structural support, EVA aids in protecting P.V. cells from damaging elements like rain, dirt, and wind. Magnetic wire insulation, a safety glass interlayer, wash primers, and coating are all made using PVAc derived from PVA. EVA is anticipated to grow steadily over the following six years due to rising demand from various packaging industry segments. Shower curtains and shoes are both produced using EVA. The use of EVOH as a barrier resin for plastic bottles, food packaging, engineering polymers, and gasoline tanks is predicted to make it the application with the fastest growth. Polyvinyl butyral (PVB) and VAE are also produced using VAM. In the manufacture of safety glass used in buildings and automobiles, PVB is used. Thus, driving the vinyl acetate monomer market revenue.

Celanese Corporation announced in 2021 that it will increase its output of VAM by approximately 150,000 metric tons per year at Clear Lake, Texas. This plant expansion will be completed by the end of 2023 to enable Celanese meet the increasing demand for VAM in Americas.

Vinyl Acetate Monomer Market Segment Insights

Vinyl Acetate Monomer Application Insights

Based on application, the vinyl acetate monomer market segmentation includes polyvinyl alcohol, polyvinyl acetate, ethylene vinyl acetate, and others. The polyvinyl acetate segment dominated the market; the production of PVA and PVOH uses about 80% of the created VAM. In the vinyl acetate monomer market's application sector, PVA and PVOH were the market leaders. The biggest VAM derivative, PVA, is primarily used in adhesive applications due to its excellent adhesion properties to various substrates, including wood, paper, metals, and plastic films. Paints and coatings are two other major uses for PVA. The second-largest PVA-derived consumer of VAM is PVOH. Coatings, adhesives, and water-soluble packaging are just a few examples of the uses for PVOH.

Magnetic wire insulation, a safety glass interlayer, wash primers, and coating are all made using PVAc derived from PVA. EVA is anticipated to grow steadily over the following six years due to rising demand from various packaging industry segments. Shower curtains and shoes are both produced using EVA. The use of EVOH as a barrier resin for plastic bottles, food packaging, engineering polymers, and gasoline tanks is predicted to make it the application with the fastest growth. Polyvinyl butyral (PVB) and VAE are also produced using VAM.

Figure 1: Vinyl Acetate Monomer Market, by Applications, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Vinyl Acetate Monomer End-Use Industry Insights

Based on the end-use industry, the vinyl acetate monomer market segmentation includes packaging, construction, textile, adhesives, and others. The textile category generated the most income. Due to shifting consumer preferences and demand, the textile end-use industry anticipates significant gains from these. The Vinyl Acetate Monomer Market is growing as more people choose upscale clothing.

Vinyl Acetate Monomer Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American vinyl acetate monomer market will dominate this market. A favorable outlook for the U.S. packaging sector, along with the country's shale gas boom, is anticipated to continue to be a major factor in the expansion of the regional market.

Further, the major countries studied in the market report are The US, Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: VINYL ACETATE MONOMER MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s vinyl acetate monomer market accounts for the second-largest market share usage of biodegradable plastic in the packaging sector is rising. Additionally, there is a growing market for packaged food and beverages due to consumer demand for convenience and high per capita income. Further, the German vinyl acetate monomer market held the largest market share, and the U.K. vinyl acetate monomer market was the fastest-growing market in the European region.

The Asia-Pacific Vinyl Acetate Monomer Market is expected to grow at the fastest CAGR from 2023 to 2032. Due to the expansion of important end-use industries there, Asia Pacific is predicted to maintain its dominance in the market. Due to the rising demand for adhesives, paints, and coatings from the infrastructure sector, emerging markets like China and India should experience faster growth rates. Over the forecast period, market growth is anticipated to be supported by rising demand from the automotive industry and rising consumption of adhesives for food packaging. Moreover, China’s vinyl acetate monomer market held the largest market share, and the Indian vinyl acetate monomer market was the fastest-growing market in the Asia-Pacific region.

Vinyl Acetate Monomer Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the vinyl acetate monomer market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The vinyl acetate monomer industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the vinyl acetate monomer industry to benefit clients and increase the market sector. The vinyl acetate monomer industry has offered some significant advantages in recent years. Major players in the vinyl acetate monomer market, including DowDuPont (U.S.), Wacker Chemie AG (Germany), Celanese Corporation (U.S.), KURARAY CO., LTD (Japan), Solventis (U.K.), Sipchem (Saudi Arabia), Innospec (U.S.), Exxon Mobil Corporation (U.S.), Sinopec, China Petrochemical Corporation (China), Arkema (France) and, LyondellBasell Industries N.V. (Netherlands), and others, are attempting to increase market demand by investing in research and development operations.

DowDuPont (U.S.), Often abbreviated as DuPont, the French-American industrialist and chemist Éleuthère Irénée du Pont de Nemours founded the multinational chemical company in 1802. The business began as a significant supplier of gunpowder and later played a significant role in the growth of Delaware. In the 20th century, DuPont produced a variety of polymers, including Vespel, neoprene, nylon, Corian, Teflon, Mylar, Kapton, Kevlar, Zemdrain, M5 fiber, Nomex, Tyvek, Sorona, Corfam, and Lycra. Its scientists also produced a variety of chemicals, most notably Freon (chlorofluorocarbons), for the refrigerant. Additionally, it produced synthetic paints and pigments like ChromaFlair.

Innospec (U.S.), Innospec is a multinational specialty chemical company with the skills, know-how, and zeal to support our clients in dominating their markets. Our goal is to offer ground-breaking, innovative products, top-notch customer service, and technical support. We can adapt quickly to the changing needs of our customers thanks to our local resources, suppliers, and continued commitment to providing exemplary customer service. We have successfully brought new technologies to market that enable our customers to improve their goods and operations thanks to our outstanding RandD capabilities. We keep spending money and concentrating on R&D to develop ground-breaking innovations to meet future demands. Our team's abilities, knowledge, and commitment set us apart from the competition and allow us to provide our clients with results that are superior to their expectations. Learn more about the employment environment at Innospec. We are the best at comprehending the potential effects of our operations on both the environment and the safety of our workers. To ensure that the essential products we provide for the world are made in a safe, responsible, resource-sensitive, and environmentally conscious way, we are dedicated to reducing our environmental impact. Learn more about how our CSR initiatives are addressing these relevant issues.

Sinopec Corporation lastly wrapped up its plant upgrading project in Zhenhai, China, back in 2019, thus becoming the world’s biggest producer of Vinyl Acetate Monomers (VAM) at three hundred thousand tonnes per annum.

Aian Paints has given its approval for the establishment of a Vinyl Acetate Monomer (VAM) and Vinyl Acetate Ethylene Emulsion (VAE) production facility in India in 2022. The new production facility would have an installed capacity of 100,000 tons annually for VAM and 150,000 tons annually for VAE. One essential component for producing VAE is VAM.

Asian Paints announced in 2024 that Asian Paints (Polymers), a wholly-owned company, has signed the necessary contracts with Gujarat Chemical Port (GCPL) to establish an ethylene handling and storage facility in Gujrat, India. In accordance with the terms of the agreement, APPPL will give GCPL a security deposit of Rs 460 crore, which will be reimbursed over the course of 17 and 18 years. This would be in addition to the cost of setting up the Vinyl Acetate Monomer (VAM) and Vinyl Acetate Ethylene Emulsion (VAE) manufacturing facility as envisaged before.

Key Companies in the vinyl acetate monomer market include

• DowDuPont (U.S.)


• Wacker Chemie AG (Germany)


• Celanese Corporation (U.S.)


• KURARAY CO., LTD (Japan)


• Solventis (U.K.)


• Sipchem (Saudi Arabia)


• Innospec (U.S.)


• Exxon Mobil Corporation (U.S.)


• Sinopec


• China Petrochemical Corporation (China)


• Arkema (France) and


• LyondellBasell Industries N.V. (Netherlands)

Vinyl Acetate Monomer Industry Developments

In 2021, LyondellBasell completed its $2 billion purchase of Sasol’s VAM business. By doing so, LyondellBasell want to consolidate its position on the market and diversify its geography.

In 2020, Dow Chemical Company reported the completion of their Freeport Vinyl Acetate monomer (VAM) volume project. By expanding this way, Dow Chemical Company increased vinyl acetate monomer (VAM) vam volumes by one hundred fifty thousand metric tons annually; so as to meet growing vinyl acetate monomers demands across North America and globally.

December 2022: KBR – a global engineering & technology solutions company based in the USA, also supplied catalysts besides licensing its own vinyl acetate monomer (VAM) technology to Showa Denko K.K. as part of a formal partnership agreement with SDK; additionally, SDK also agreed to supply Asian Paints with the necessary catalysts used during their VAM manufacturing process.

In 2019, Kuraray Co Ltd purchased Plantic Technologies Limited, an Australian company specializing in the manufacturing of biodegradable materials. This acquisition is expected to enhance Kuraray's position in the VAM market by adding new products to its portfolio.

Vinyl Acetate Monomer Market Segmentation

Vinyl Acetate Monomer Applications Outlook

• Polyvinyl Alcohol


• Polyvinyl Acetate


• Ethylene Vinyl Acetate


• Others

Vinyl Acetate Monomer End-Use Industry Outlook

• Packaging


• Construction


• Textile


• Adhesives


• Others

Vinyl Acetate Monomer Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America