Global Vinyl Acetate Monomer (VAM) Market to Register 5.6% CAGR in 2024-32
As per the research report by Report Cube, the Global Vinyl Acetate Monomer (VAM) Market is estimated to grow at a CAGR of about XX% during the forecast period, 2024-32.
Vinyl acetate monomer's increasing usage in a variety of industries, including food & beverage, is predicted to drive up market sales. Building, furniture, automotive, food & beverage, and other sectors all use VAM, an organic material. Also, vinyl acetate monomer is a precursor for the synthesis of copolymers & polymers, such as PVOH (polyvinyl alcohol), EVA (ethylene vinyl acetate), and EVOH (ethylene vinyl alcohol).
Moreover, the rising deployment of these compounds in the manufacturing of adhesives & emulsions is fueling the growth of the worldwide industry. VAM copolymers are also finding increasing application in the paint & coatings sector. The market is envisioned to expand as a result of the surged demand for paint & coatings brought on by rising infrastructure investments, particularly in emerging economies in Latin America and Asia-Pacific. As vinyl acetate-ethylene (VAE) copolymers have the least negative effects on the environment, they are a good fit for architectural coating. Low monomer residue, minimal solvent usage, and development without formaldehyde feedstock or alkylphenol ethoxylate (APEO) raw materials are other benefits.
Additionally, an upsurging amount of shale gas exploration & production (E&P) is being undertaken, typically in the United States. This will offer a consistent supply of vital raw materials required to produce VAM. Furthermore, ethylene, which is employed as feedstock for VAM, is primarily synthesized from crude oil. Since shale gas has a higher ethane content than crude oil, it is used to generate VAM through natural gas extraction. To meet import & export demand, this element is foreseen to increase US VAM production, further states the research study, Global Vinyl Acetate Monomer (VAM) Market Analysis, 2024.
Analyzing the Global Vinyl Acetate Monomer (VAM) Market Segmentation
Construction Segment to Capture Potential Market Share
By distribution channel, the Global Vinyl Acetate Monomer (VAM) Market is bifurcated into: Construction, Packaging, Textile, and Others.
The Global Vinyl Acetate Monomer (VAM) Market is expected to be led by the Construction Sector, by capturing a substantial market share. The construction sector relies heavily on VAM-based products like adhesives, emulsions, and coatings due to their remarkable bond strength, sturdiness, and resistance to environmental changes. The deployment of VAM in construction adhesives improves the longevity & structural integrity of structures, making them crucial to today's infrastructure projects.
Asia-Pacific to Lead the Global Industry
In the coming years, the Vinyl Acetate Monomer (VAM) Market in Asia-Pacific is envisioned to grow at a tremendous rate. Growth rates in growing economies like China & India are predicted to be fueled by the infrastructure industry's rising need for adhesives, paint, and coatings. The surging adhesive intake for food packaging & the developing demand from the automotive industry are foreseen to drive the market development in the upcoming years. Therefore, given the expanding automotive industry in Asia-Pacific, VAM is expected to have strong demand.
Global Vinyl Acetate Monomer (VAM) Market Companies Analysis
With the strategic analysis & market study the leading companies, including DowDuPont, Wacker Chemie AG, Celanese Corporation, KURARAY CO., LTD, Solventis, Sipchem, Innospec, Participant’s Overview, Exxon Mobil Corporation, Sinopec China Petrochemical Corporation, Arkema, LyondellBasell Industries N.V., are predicted to contribute in the growing market outlook.