Vinyl Acetate Monomer Market size was valued at USD 15.3 billion in 2024 and is anticipated to surpass USD 29 billion by 2037, registering a CAGR of 5.5% during the forecast timeline i.e. 2025-2037. In 2025, the industry size of vinyl acetate monomer is evaluated at USD 16.1 billion.
Industries are looking for alternatives to traditional materials that are contributing to carbon dioxide emissions and environmental pollution. Moreover, due to increasingly diversified consumer preference needs and particularly tough regulatory requirements, manufacturers develop new and advanced products.
Furthermore, continuous improvement within the companies through investing in research and development activities provides a boom in the market. For instance, in October 2022, Asian Paints announced the establishment of a new manufacturing facility for vinyl acetate-ethylene emulsion and vinyl acetate monomer for USD 248.7 million. This helped in rendering cost efficiency and mitigating import reliability by boosting domestic production. In addition, the application of technological innovations could help the industry differentiate its products and capture new market segments.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.5% |
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Base Year Market Size (2024) |
USD 15.3 billion |
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Forecast Year Market Size (2037) |
USD 29 billion |
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Regional Scope |
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End user (Construction, Textile, Cosmetics, Packaging, Others)
Construction segment is predicted to account for vinyl acetate monomer market share of more than 36.9% by the end of 2037. This is mainly due to increased demand for high-performance adhesives and sealants used in applications such as flooring, wall coverings, and insulation. As urbanization and infrastructure develop rapidly worldwide, consumption of VAM in the construction industry expands due to increased demand for more effective bonding solutions and thus further solidifies market leadership. For instance, in February 2023, it was announced that to construct the new VAM plant in Ulsan, LOTTE INEOS Chemical has acquired additional land. It will boost the current 450,000-ton production capacity to 700,000-ton.
Application (Polyvinyl Alcohol, Polyvinyl Acetate, Ethylene-Vinyl Acetate, Vinyl Acetate Ethylene, Ethylene-Vinyl Alcohol, Others)
The polyvinyl acetate segment of the vinyl acetate monomer market is expected to be highly growing primarily due to its universal application in adhesives, paints, and coatings. PVA exhibits excellent adhesion properties, flexibility, and durability, which makes it a go-to product for many industrial applications like woodworking, construction, and packaging. For instance, in September 2022, Bioplastics International developed the first water-soluble PVA made from sugar cane alcohol. Bioplastics International has introduced a water-soluble, fossil fuel-free alternative to petroleum-based plastics to reduce the massive amount of plastic debris that is polluting our oceans. This versatility and capability in performance drive enormous demand for VAM in the production of polyvinyl alcohol.
Our in-depth analysis of the global market includes the following segments:
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End user |
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Application |
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Asia Pacific Market Statistics
Asia Pacific in vinyl acetate monomer market is likely to account for more than 36.9% revenue share by the end of 2037, predominantly due to the high speed of industrialization and urbanization. In addition, the rising demand for vinyl acetate monomer in construction, automotive, and packaging applications reflects the region's expanding manufacturing capabilities and makes it the growing side of the global VAM market landscape.
In China, the market is growing rapidly owing to the substantial manufacturing sector and increased demand for it in most applications, including adhesives and coatings. For instance, in December 2023, Jiangsu Sopo Chemical planned a comprehensive VAM and EVA monomer project. The construction of a large-scale VAM production plant aims to accommodate an annual capacity of 330 thousand tons. This strategic move fulfills business goals of growth and improved production capacity. Furthermore, increasing VAM consumption and setting China ahead in this global VAM market.
In India, the market is developing at a great pace due to fast growth in the construction sector, which is driven by urbanization and infrastructure development initiatives. For instance, in March 2024, Asian Paints declared to have secured the required agreements with Gujarat Chemical Port (GCPL) to set up an ethylene handling and storage facility. More consumption of high-performance adhesives and sealants in residential and commercial projects assures VAM consumption in India, making it an important aspect while enhancing manufacturing capabilities in the market.
North America Market Analysis
The vinyl acetate monomer market in North America is expected to be one of the emerging regions in the future, driven by the increasing demand for environment-friendly and low-VOC adhesives in the construction and automotive sectors. Manufacturing of VAM-based products is increasingly adopted as the regulatory standards rise regarding environmental sustainability. Manufacturer presence has improved and introduced innovation in sustainable applications across the region.
Robust growth is registered in the U.S. market mainly due to surging demand for lightweight and durable materials to satisfy stricter regulatory requirements and consumer preferences. For instance, in March 2021, Celanese Corporation made an announcement to boost its VAM production at Clear Lake, Texas, by about 150,000 metric tons annually. By the end of 2023, this plant expansion will be finished, allowing Celanese to satisfy the growing demand for VAM in the Americas.
In Canada, the market has been steadily growing due to the increasing demand for sustainable building materials and adhesives. Furthermore, it is also driven by its focus on eco-friendly building practices and regulatory compliance for low-VOC adhesives and coatings where VAM is positioned to play a key role. This trend puts Canada among the emerging players in the market and fosters innovation and growth.
Companies undertaking business in the vinyl acetate monomer market landscape highly operate with competitive and innovative forces through the efficient generation of demand for sustainable and high-performance products. For instance, in March 2023, WACKER’s Nanjing declared the successful capacity expansion for vinyl-acetate-ethylene copolymer (VAE) dispersions and VAE dispersible polymer powders. This move helped the company meet the increasing demand from customers for its premium binders, especially from China's thriving construction sector. Major players are taking considerable measures on research and development to upgrade VAM solutions to remain in the competitive edge in a fast-changing market.
Here's the list of some key players:
Author Credits: Rajrani Baghel
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