Vinyl Acetate Monomer (VAM) Market to Grow at a CAGR of 4.02% by 2030
According to ChemAnalyst report, “Global Vinyl Acetate Monomer Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Global Vinyl Acetate Monomer market is growing exponentially over the last few years and is anticipated to accomplish a CAGR of 4.07% in the forecast period as it is extensively used in construction, Packaging, and paints & coatings.
VAM is a versatile industrial commodity, precursor to polyvinyl acetate and can be used to synthesize various other polymers, along with other monomers such as Ethylene-Vinyl Acetate (EVA), Vinyl Acetate-Acrylic Acid (VA/AA), Polyvinyl Chloride Acetate (PVCA), and Polyvinylpyrrolidone (PVP). Vinyl Acetate Monomer (VAM) is also used to make ethylene vinyl alcohol (EVOH) resins which is further used in food packaging in order to extend the shelf life of food products due to its application as strong barrier against oxygen and gas. In addition, VAM is used as an intermediate to produce paints and coatings, adhesives, textile finishes, water-soluble films and fibers, and laminated safety glass. Due to its considerable industrial value and wide application, there is an impeccable growth in its demand in the past few years.
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In 2020, the outbreak of COVID-19 across the globe have put a halt in overall surging demand of VAM due to nonfunctioning of industries during lockdown. Sharp fall in demand from food & Beverage sector, as home-cooked food is more preferred by the people amidst COVID to prevent any spread of disease also effected the Vinyl Acetate Monomer industry. construction and textile sector is also impacted during the pandemic which consequently adversely affect the demand of VAM. However, a positive trend has been witnessed in the demand and supply of VAM since relaxation in lockdowns. Wide range applications of Vinyl Acetate Monomer and its derivatives in various end use industries, is set to boost its market growth during the forecast period.
Region wise, Asia Pacific region holds the major share of global demand for Vinyl Acetate Monomer owing to growing demand for paints and coatings, water-soluble films and fibers, adhesives etc. All these factors such as increasing population, rapid industrialization, and growing infrastructure in the region specially, in China, India and Japan are driving the market for Vinyl Acetate Monomer. Additionally, industries involve in paints and adhesives have investing in the region due to cheap labor and large consumer base, that consequently uplift the production capacity of Vinyl Acetate Monomer in Asia Pacific.
The food and beverage sector are growing at an exponential rate specially in the developed economies like Europe and the United States that lead to the higher demand of innovative packaging material like Vinyl Acetate Monomer, which expands the market size for VAM globally.
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According to ChemAnalyst report, “Global Market By Vinyl Acetate Monomer Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030.
Key Players:
Some of the major players operating in the global Vinyl Acetate Monomer market are Sinopec Corporation, Celanese Corporation, Dairen Chemical Corporation, Dairen Chemical Corporation, The Dow Chemical Company, Kuraray Co., LTD., Saudi International Petrochemical Company, Japan VAM & Poval Co., Ltd, Ningxia Younglight Chemicals Co. Ltd., Wacker Chemie Ag, OOO Stavrolen, Anhui Wanwei Group Co., Ltd, and others.
“Vinyl Acetate Monomer and its derivatives have extensive applications in various end use industries like Packaging, Construction, Paints, Cosmetics, and Textiles. Growth in Construction, Paints and coatings as well as Packaging sectors is expected to directly upsurge the demand for Vinyl Acetate Monomer in the forecast period. With new competitors emerging across the Asia Pacific VAM market, players anticipate that there will be sufficient supply demand gaps in future. At this, it is extremely important to keep an eye which region will grab the biggest market share in the upcoming years” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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