Global Vinyl Acetate Monomer (VAM) Market: Snapshot
Owing to the increasing requirement for ethylene-vinyl acetate in both energy industry and packaging segments, the market for vinyl acetate monomer (VAM) is high in demand. VAM is one of the important polymers that is used for the manufacturing of emulsions and adhesives. Coating and Paints industry demand for VAM and this increases the requirement in the global market. There is also an increase in demand for ethylene-vinyl alcohol and ethylene-vinyl acetate from the food packaging and solar PV cells industries which is likely to boost the growth of the VAM market over the forecast period.
There may be a few factors that may restrain the market for VAM. Due to over production, limited technology, and high volatility of raw material process in the market, the growth of vinyl acetate monomer may face challenges in the years to come. However, the growing requirement for adhesives and paints for construction and furniture making is likely to boost the growth of the vinyl acetate monomer market.
The global vinyl acetate monomer market is presumed to be worth a US$9.26 bn by the end of 2019. It is also expected to showcase a vigorous CAGR in the forecast period.
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Ethylene-Vinyl Alcohol Generating More Revenue Owing to Food Packaging Industry
Based on segmentation by application, the important classifications of vinyl acetate monomer market are Ethylene-vinyl alcohol (EVOH), Polyvinyl alcohol (PVOH), Ethylene-vinyl acetate (EVA), and Polyvinyl acetate (PVAc). Out of these, the requirement of Ethylene-vinyl alcohol (EVOH) is anticipated to witness a remarkable growth in food packaging. This adds to an unprecedented growth in the food and beverage industry and is likely to showcase greater opportunities in the years to come.
Apart from EVOH, Ethylene-vinyl acetate (EVA) is used in photovoltaic cells as a film. Solar panels are employed by typical photovoltaic systems, generating electrical power. Solar energy being an important source also rises in applications globally and this is also predicted to stimulate the rise in market.
With further applications in textile and packaging industries, PVOH is used for producing films and resins and PVA for the production of copolymer in adhesive industry. Vinyl acetate monomer market is estimated to hold its market revenue to 7% CAGR. polyvinyl acetate and polyvinyl alcohol are also used in the paper industry along with paint and adhesive industries.
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Asia Pacific Contributing Larger Share to Dominate VAM Market Due to Industrial Growth
The global vinyl acetate monomer market is studied on the basis of key geographies North America, Asia Pacific, Europe and the Rest of the World. Due to briskly emerging economies, countries like China, India and Japan are contributing significantly to the economy. Asia Pacific is likely to hold roughly half of the total market share in the past years and is estimated to continue this same trend on account of the expanding industrial growth in the region. Europe is also anticipated to become a remarkable importer as of vinyl acetate monomer.
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Some of the key players in the global vinyl acetate monomer market are LyondellBasell, Celanese Corporation, The Dow Chemical Company, Sinopec, and Dairen Chemical Corporation.