Vinyl Acetate Monomer Market is anticipated to grow with a highest CAGR through 2018 to 2023
Summary: Vinyl Acetate Monomer (VAM) is also known as acetic acid ethenyl ester, acetic acid ethylene ether, acetoxyethene, 1-acetoxyethylene, ethenyl ethanoate, ethenyl acetate, and acetic acid vinyl ester. VAM is produced when ethylene and acetic acid react with oxygen in the presence of a palladium catalyst. VAM is widely used in the manufacturing of other chemicals such as polyvinyl alcohol, polyvinyl acetate, ethylene vinyl acetate, vinyl acetate ethylene, ethylene vinyl alcohol, vinyl chloride-vinyl acetate copolymers, and others. The product finds application in adhesives, paints and coatings, laminated automotive and commercial building glass, textiles, packaging, and others.
The growth of the global vinyl acetate monomer market is driven by the rapidly growing packaging industry across the globe. The increasing demand for packaged beverages and food products owing to convenience and improved product shelf is expected to propel market growth. With the introduction of multiple-layer barrier packaging technology, demand for the product is rising in the packaging industry.
Categorization: Vinyl Acetate Monomer Market has been segmented by end-use industry, application, and region.
Based on application, the market has been segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene vinyl acetate (EVA), vinyl acetate ethylene (VAE), ethylene vinyl alcohol (EVOH), vinyl chloride-vinyl acetate copolymers, polyvinyl formal, and others. Vinyl acetate monomer is mainly used in the manufacturing of polyvinyl acetate and polyvinyl alcohol. The PVOH segment accounted for the largest market share in 2017 due to the increasing demand from end-use industries such as packaging, textile, adhesives, and construction. The EVOH segment is expected to grow at the highest rate during the forecast period on account of the increasing use of EVOH as a barrier resin in food packaging, plastic bottles, and gasoline tanks.
Regional Analysis: Based on region, the Vinyl Acetate Monomer Market has been divided into Europe, Latin America, Asia-Pacific, North America, and the Middle East & Africa.
Globally, North America is a prominent region for the vinyl acetate monomer market due to the growing flexible packaging industry with increasing consumption of packaged beverages and food products. Additionally, the growth of the apparel and textile industry with changing fashion trends and high per capita income of consumers is driving market growth further.
Asia-Pacific accounted for the largest share of the vinyl acetate monomer market on account of the rising demand for the product from major end-use industries such as packaging, construction, and textile.
Top Global Competitors: Some of the prominent players in the global Vinyl Acetate Monomer Market are; Celanese Corporation (US), KURARAY CO. LTD. (Japan), Solventis (UK), Sipchem (Saudi Arabia), DowDuPont (US), Wacker Chemie AG (Germany), Innospec (US), Exxon Mobil Corporation (US), Sinopec, China Petrochemical Corporation (China), Arkema (France), and LyondellBasell Industries N.V. (Netherlands).
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