“Asia Pacific vinyl acetate monomer market is growing at a CAGR of 5.2% owing to increasing application in several industry verticals.”
The key vinyl acetate monomer (VAM) market players are Exxon Mobil Corporation, Dow Chemical, Ineospec Inc, Celanese Corporation, Sipchem, Wacker Chemie, and Sinopec Group among others.
The expansion of the vinyl acetate monomer market will be largely facilitated by the demand of chemicals produced from VAM. In an era where environmental sustainability is being largely adopted, biodegradable plastics have become a major requirement across various industries, especially in food packaging. Polyvinyl alcohol is one such class of plastics that has extremely reliable credentials on the biodegradable front. Its applications are extremely diverse, ranging from films used for adult incontinence and feminine hygiene products to resin solutions used in personal care products, such as lubrication aid in eye drops and contact lens wetting solutions.
Vinyl Acetate Monomer Market size will likely surpass USD 10 billion by 2024. Vinyl acetate is an intermediary used for producing polymers and copolymers which are used in paints, paper coatings, adhesives, etc. It occurs as a clear and colorless liquid. This intermediary composite is majorly used for producing polyvinyl acetate and polyvinyl alcohol. Polyvinyl acetate has improved bonding property which find application in industrial and paper coatings whereas polyvinyl alcohol is significantly used in textiles, photosensitive coatings, packaging, etc.
Polyvinyl alcohol is synthetic hydrophillic polymer. Its propertise depends on the degree of polymerization such as ratio of two monomers. It has significant application in construction sector as a fiber reinforcement for cement based composite material and aggregate surface pre-treatment agent. The polyvinyl alcohol application demand is growing at a phenomenal pace owing to its application in building and infrastructure industry.
Cosmetic application is growing moderately over the years with growing usage of polyvinyl acetate as binder and stabilizer in eye make-up products like mascara and eyliners. Moreover, application of vinyl acetate monomer market in textile sector is growing remarkably with ongoing fashion trends and consumer inclination toward self-grooming & maintaining practices are instrumental in driving the segments over the estimated timeframe.
Middle East & Africa is second largest share in vinyl acetate monomer market. High demand for vinyl acetate in building and infrastructure industry is compelling serveral manufacturers to increase their production capacity. For instance, Sipchem had opened new plant in Jubail, Saudi Arabia to produce ethylene vinyl acetate for meeting the demand of suppliers. Ethylene vinyl acetate monomer market have inclusive applications in various end user industries such as textile, construction etc. as it used in manufacturing adhesives, coatings, paints etc.