Vinyl Acetate Monomer (VAM) Market is expected to grow significantly by 2023Posted by Harish Somani on October 5th, 2018 Market Highlight: Vinyl Acetate Monomer (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 (VAM) 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. Vinyl Acetate Monomer (VAM) consumption is increasing in the construction industry on account of rising residential and commercial infrastructure activities in both developed and developing regions. The increasing demand for adhesives and paints and coatings from major end-use industries such as automotive, construction, and packaging is also propelling market growth. Some of the growth strategies adopted by the key players in the vinyl acetate monomer market include expansions, acquisitions, and new product launches. For instance, in 2017, Celanese Corporation, a US-based global technology and specialty materials company, expanded its production capacity of VAM in Clear Lake, Texas. Intended Audience:
Regional Analysis: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. 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. The North American market was closely followed by the European market which is expected to witness considerable growth during the review period. This growth can be attributed to the surging demand for paints and coatings from the burgeoning construction industry. Segmentation: The Global Vinyl Acetate Monomer Market (VAM) has been segmented by application, end-use industry, 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. By end-use industry, the market has been classified as packaging, construction, textile, adhesives, paints and coatings, automotive, cosmetics and personal care, and others. The packaging segment accounted for the largest market share owing to the rising demand for packaged food and beverages worldwide. Construction is expected to be the fastest-growing segment of the vinyl acetate monomer market, by end-use industry, as a result of rising residential and commercial construction activities. Based on region, the vinyl acetate monomer market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Top Global Vendors:The key players available in the Global Vinyl Acetate Monomer (VAM) Market are; DowDuPont (US), Wacker Chemie AG (Germany), Celanese Corporation (US) KURARAY CO. LTD. (Japan), Solventis (UK), Sipchem (Saudi Arabia), Innospec (US), Exxon Mobil Corporation (US), Sinopec, China Petrochemical Corporation (China), Arkema (France), and LyondellBasell Industries N.V. (Netherlands). To Receive Sample Copy of Report, Click here: Like it? Share it! More by this author |