Vinyl Acetate Monomer Market Size, Share, Growth & Forecast till 2028

Posted by Lisa Seghers on October 12th, 2022

Vinyl acetate monomer (VAM) is an important intermediate used to make a number of polymers and resins. There is a high demand for vinyl acetate monomers from various end-use industries such as construction, packaging, and textile. Moreover, there is increasing use of ethylene-vinyl acetate for encapsulating solar panels. This is creating the demand for ethylene-vinyl acetate, thereby boosting the growth of the Vinyl Acetate Monomer Market.

According to the new research report published by The Insight Partners, titled “Global vinyl acetate monomer Market to 2028 – Global Analysis and Forecasts by Function, Application, Form and Geography.’ The vinyl acetate monomer market was valued at US$ 7,628.97 million in 2021 and is projected to reach US$ 10,882.28 million by 2028; it is expected to grow at a CAGR of 5.2%from 2021 to 2028.

The solar industry is experiencing strong growth due to massive investments by the governments of different countries to promote renewable energy. Moreover, solar power is a reliable and clean source of energy. It is also a sustainable alternative to fossil fuels which pollute the environment and contribute to global warming. This is creating demand for ethylene-vinyl acetate, in turn boosting demand for vinyl acetate monomer.

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Ethylene-vinyl acetate is a thermoplastic polymer, which is used in solar cells/modules as an encapsulating agent. Ethylene-vinyl acetate is one of the most widely used encapsulant materials for photovoltaic modules. The photovoltaic module with this type of encapsulation protects cells from mechanical damage and moisture infiltration. Encapsulant sheets play an essential role in preventing water and dirt from penetrating solar panels. There is increasing use of ethylene-vinyl acetate for encapsulating solar panels due to its various properties desired for solar modules such as high electrical resistance, low water absorption characteristics, excellent optical transmission, good adhesive properties, high elasticity, etc.

Based on application, the global vinyl acetate monomer market is segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others. The polyvinyl acetate segment held the largest share of the global vinyl acetate monomer market in 2020. Polyvinyl acetate homopolymers are used in paper and paperboard coatings, construction products, carpet backing, paints and industrial coatings, and engineered fabrics. There is an increase in the use of polyvinyl acetate in paints, adhesives, paper coatings, and textile treatments. This, in turn, is creating the demand for vinyl acetate monomers.

The key market players in the global vinyl acetate monomer market include Celanese Corporation, Chang Chun Group, China Petroleum & Chemical Corporation, Dairen Chemical Corporation, Japan VAM & POVAL Co. Ltd., LyondellBasell Industries Holdings B.V., Sipchem, Solventis, The Dow Chemical Company, and Wacker Chemie AG. Players operating in the market are highly focused on developing high-quality and innovative product offerings to fulfill the customer’s requirements.                                       

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