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The packaging segment has the most significant market share in the global Vinyl Acetate Monomer market end-user wise.
NEWARK, UNITED STATES, June 8, 2022 /EINPresswire.com / -- As per the report published by Fior Markets, The global vinyl acetate monomer market is expected to grow from USD 8.36 billion in 2019 to USD 12.51 billion by 2027, at a CAGR of 3.8% during the forecast period 2020-2027. Asia-Pacific stands as the leading market region wise. The region already has very high population density and the increasing demand for the packaging materials, adhesives, coatings, and paints growth of end-user industries are the driving factors for the Asia-Pacific region being the dominant player in the global VAM market. North-America is the emerging market and is growing at a rapid pace due to its already established automobile and packing industry.
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The key players in the global vinyl acetate monomer market are Sipchem, Ningxia Yinglite, The Dow Chemical Company, Kuraray, Wacker Chemie, Celanese, Arkema, Sinopec, Dairen Chemical Corporation LyondellBasell Industries, Sipchem, Ineospec Inc, Exxon Mobil Corporation, and Japan VAM & POVAL Co. Ltd. among others. To increase their market share and serve the growing demand from the Asia Pacific region firms are focussing on increasing their production capacities with the implementation of new innovative production techniques.
Vinyl acetate monomer is the acetate ester of vinyl alcohol. It is an industrial chemical produced in large quantities, and it is used to make other industrial chemicals. VAM (Vinyl acetate monomer) is a key intermediate which is used in the making of various polymers and resins of adhesives, paints, coatings, films, textiles and other end-products. This market is driven by the demand from its derivatives which has various uses. Its largest derivative is polyvinyl acetate (PVA) which is mainly used in adhesives due to its good adhesion properties to various substrates including wood, paper, plastic films and metals. Its other uses include paints, paper and industrial coatings. Polyvinyl alcohol (PVOH) is manufactured from PVA, is its second-largest consumer. Main uses for PVOH include adhesives, textiles, packaging films, thickeners and photosensitive coatings. VAM is consumed in the manufacturing of ethylene-vinyl acetate (EVA) and vinyl acetate-ethylene (VAE). EVA, contains less than 50% vinyl acetate, is primarily used mainly for films, wire and cable insulation. VAE, contains more than 50% vinyl acetate, is mainly used as cement additives, paints and adhesives. Another fast-growing use of VAM is the manufacturing of ethylene vinyl alcohol (EVOH), it is used as a barrier resin in food packaging, gasoline tanks, plastic bottles and, and in engineering polymers.
PVA has the largest market share segment-wise in vinyl acetate monomer market, followed by PVOH. However, EVOH segment is expected to grow at the highest pace in the forecast period.
The end-user segment involves various industries such as packaging, automotive, construction, textile and others. Packaging segment has most significant market share in the global VAM market end-user wise. The rising consumption of packaged food ordered through online food delivery apps, the emergence of e-commerce sector is acting as the driving factor for packaged materials. Construction segment is emerging at a very high growth rate driven by the increase in the demand of the paints and coating.
Recently KBR has been awarded a contract for Vinyl Acetate Monomer (VAM) technology by Shenghong Refining Petrochemical Co. Ltd. This is the first commercial VAM technology license secured under an alliance agreement between KBR and Showa Denko K.K. (SDK) to commercialize SDK's VAM technology. Under the contract, KBR will provide License and Basic Engineering Design for a 300 KTA VAM unit to be constructed in Lianyungang, China, as part of an integrated refinery and petrochemical complex. The KBR-SDK VAM technology is backed by more than 40 years of know-how accumulated through the safe and stable operation of SDK's ethylene based VAM unit at the Oita Petrochemical Complex in Japan.
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About the report:
The global vinyl acetate monomer market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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