Growing Demand from Various End-Use Industries to Escalate Vinyl Acetate Monomer Market Growth
According to our latest market study on “Vinyl Acetate Monomer Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application [Polyvinyl Acetate (PVA), Polyvinyl Alcohol (PVOH), Ethylene-Vinyl Acetate (EVA), and Others] and End-Use Industry (Construction, Packaging, Textile, and Others),” the market was valued at US$ 7,628.97 million in 2021 and is projected to reach US$ 10,882.28 million by 2028; it is expected to grow at a CAGR of 5.2%from 2021 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.
Vinyl acetate monomer (VAM) is an important intermediate used to make a number of polymers and resins. Vinyl acetate monomer is a crucial raw material used to make chemicals, which are then utilized to manufacture a wide range of consumer and industrial products. Based on application, the global vinyl acetate monomer market is segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others.
Global Vinyl Acetate Monomer Market Breakdown –by Region
Vinyl Acetate Monomer Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Application [Polyvinyl Acetate (PVA), Polyvinyl Alcohol (PVOH), Ethylene-Vinyl Acetate (EVA), and Others] and End-Use Industry (Construction, Packaging, Textile, and Others)
Vinyl Acetate Monomer Market Size Report | Forecast & Growth by 2028
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Vinyl acetate monomer is an essential material in the manufacture of many polymers and resins. The increasing demand for adhesives from various industries such as construction and furniture is driving the market. To produce many interior latex paints, vinyl acetate monomer-based polymers are used to provide adhesion of all the ingredients. Additionally, many vinyl acetate monomer-based derivatives are used as a coating in plastic films for food packaging. Hence, the increasing demand for paints and coatings across the globe is further boosting the vinyl acetate monomer market growth.
The key players operating in the global vinyl acetate monomer market include Celanese Corporation, Chang Chun Group, China Petroleum & Chemical Corporation, Dairen Chemical Corporation, Japan VAM & POVAL Co. Ltd., LyondellBasell Industries Holdings B.V., Sipchem, Solventis, The Dow Chemical Company, and Wacker Chemie AG.
Impact of COVID-19 Pandemic on Vinyl Acetate Monomer Market
The COVID-19 pandemic drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the vinyl acetate monomer market. The implementation of measures to combat the spread of the virus aggravated the situation and impacted the growth of several industrial sectors. The significant decline in the growth of several industrial sectors impacted the demand for vinyl acetate monomers in the global market. The demand for vinyl acetate monomer has been negatively affected due to the total shutdown of construction activities. Due to the COVID-19 pandemic, the textile industry has faced production and transportation issues and reduced export/import orders. However, as the economies are planning to revive their operations, the demand for vinyl acetate monomers is expected to rise globally. The demand for vinyl acetate monomer has started rising with the resumption of construction activities and the lifting of lockdown measures globally.
The report includes the segmentation of the global vinyl acetate monomer market as follows:
Based on application, the global vinyl acetate monomer market is segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others. Based on end-use industry, the market is segmented into construction, packaging, textile, and others. By geography, the vinyl acetate monomer market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. North America includes the US, Canada, and Mexico. Europe consists of Germany, France, the UK, Italy, Russia, and the Rest of Europe. Asia Pacific includes China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The Middle East & Africa (MEA) includes South Africa, Saudi Arabia, the UAE, and the Rest of MEA. South and Central America includes Brazil, Argentina, and the Rest of South and Central America.
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