The Global Vinyl Acetate Monomer Market size is expected to reach $13.5 billion by 2031, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 6,632.1 kilo tonnes, experiencing a growth of 19.1% (2020-2023).
VAM is a key component in the production of textile binders used in textile finishing processes. Thus, the textile segment acquired 17.6% revenue share in the market 2023. In terms of volume, the textile segment attained a volume of 1,131.4 kilo tonnes in the market 2023. Textile binders based on VAM provide excellent adhesion, flexibility, and durability to textile fibers, fabrics, and substrates. These binders enhance the performance of textile materials by improving their strength, dimensional stability, and resistance to abrasion, wrinkling, and washing.
VAM is widely used in producing ethylene-vinyl acetate (EVA) films, essential components in photovoltaic (PV) solar panel encapsulation. EVA films protect solar cells from environmental factors such as moisture, dust, and mechanical stress while allowing light transmission to maximize energy conversion.
Additionally, VAM-based polymers are extensively used in the automotive industry for interior components such as door panels, dashboard trims, and upholstery. These polymers, often vinyl acetate copolymers, offer desirable properties such as flexibility, durability, and resistance to wear and tear. In conclusion, the growing automotive sector globally is propelling the growth of the market.
However, Sharp increases in raw material prices lead to higher production costs for VAM manufacturers, squeezing profit margins and reducing competitiveness. Cost pressures may force manufacturers to pass on price increases to customers, risking demand erosion and market share loss. Hence, volatility in raw material prices is hampering the market’s growth.
VAM is a key component in the production of textile binders used in textile finishing processes. Thus, the textile segment acquired 17.6% revenue share in the market 2023. In terms of volume, the textile segment attained a volume of 1,131.4 kilo tonnes in the market 2023. Textile binders based on VAM provide excellent adhesion, flexibility, and durability to textile fibers, fabrics, and substrates. These binders enhance the performance of textile materials by improving their strength, dimensional stability, and resistance to abrasion, wrinkling, and washing.
VAM is widely used in producing ethylene-vinyl acetate (EVA) films, essential components in photovoltaic (PV) solar panel encapsulation. EVA films protect solar cells from environmental factors such as moisture, dust, and mechanical stress while allowing light transmission to maximize energy conversion.
Additionally, VAM-based polymers are extensively used in the automotive industry for interior components such as door panels, dashboard trims, and upholstery. These polymers, often vinyl acetate copolymers, offer desirable properties such as flexibility, durability, and resistance to wear and tear. In conclusion, the growing automotive sector globally is propelling the growth of the market.
However, Sharp increases in raw material prices lead to higher production costs for VAM manufacturers, squeezing profit margins and reducing competitiveness. Cost pressures may force manufacturers to pass on price increases to customers, risking demand erosion and market share loss. Hence, volatility in raw material prices is hampering the market’s growth.
Application Outlook
Based on application, the market is divided into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others. In 2023, the polyvinyl acetate (PVA) segment garnered 43.5% revenue share in the market. In terms of volume the PVA segment would attain volume of 4,027.7 kilo tonnes in the market 2029
End User Outlook
On the basis of end-user, the market is divided into construction, packaging, textile, cosmetics, and others. In 2023, the packaging segment registered 28.5% revenue share in the market. In terms of volume, the packaging segment would attain a volume of 2,590.3 kilo tonnes in the market 2028.Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region generated 26.2% revenue share in the market in 2023. In terms of volume, the North America region would attain a volume of 2,149.3 kilo tonnes in the market 2030.Recent Strategies Deployed in the Market
- Nov-2023: BASF and SINOPEC have unveiled the newly expanded downstream chemical plants at the Verbund site managed by BASF-YPC Co., Ltd. (BASF-YPC), a joint venture split equally between the two companies in Nanjing. The expansion is a strategic reaction to the increasing demand from diverse industries in the Chinese market.
- Sep-2023: INEOS Group Holdings S.A. announced an agreement with Eastman Chemical Company to acquire the Eastman Texas City facility, encompassing the 600kt Acetic Acid plant and all affiliated third-party operations situated at the site. Under this agreement, INEOS Group would enhance its global market presence and product portfolio.
- May-2023: The Dow Chemical Company came into partnership with New Energy Blue, LLC, a US-based service for renewable companies. Through this partnership, Dow Chemical would create biodegradable plastic materials using corn residue.
- May-2023: Wacker Chemie AG has accomplished the capacity expansion for vinyl acetate-ethylene copolymer (VAE) dispersions and VAE dispersible polymer powders at its Nanjing facility in China.
- Mar-2020: Wacker Chemie AG is extending its recent product line of polymeric binders, utilizing renewable resources. Through its VINNECO® brand, the Munich-headquartered chemical company will provide a re-dispersible polymer powder crafted from biobased acetic acid. The dispersible polymer powder VINNECO® 5044 N is primarily designed for the manufacture of construction materials, including waterproofing membranes and dry-mix mortars used in external thermal insulation composite systems (ETICS).
List of Key Companies Profiled
- Celanese Corporation
- LyondellBasell Industries Holdings B.V.
- The Dow Chemical Company
- DuPont de Nemours, Inc.
- Wacker Chemie AG
- Kuraray Europe GmbH (Kuraray Co., Ltd.)
- INEOS Group Holdings S.A
- Sinopec Group (China Petrochemical Corporation)
- Sipchem Company
- Exxon Mobil Corporation
Market Report Segmentation
By End-user (Volume, Kilo Tonnes, USD Billion, 2020-2031)- Construction
- Packaging
- Textile
- Cosmetics
- Others
- Polyvinyl Acetate (PVA)
- Polyvinyl Alcohol (PVOH)
- Ethylene-Vinyl Acetate (EVA)
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Vinyl Acetate Monomer Market by End-user
Chapter 5. Global Vinyl Acetate Monomer Market by Application
Chapter 6. Global Vinyl Acetate Monomer Market by Region
Chapter 7. Company Profiles
Companies Mentioned
- Celanese Corporation
- LyondellBasell Industries Holdings B.V.
- The Dow Chemical Company
- DuPont de Nemours, Inc.
- Wacker Chemie AG
- Kuraray Europe GmbH (Kuraray Co., Ltd.)
- INEOS Group Holdings S.A
- Sinopec Group (China Petrochemical Corporation)
- Sipchem Company
- Exxon Mobil Corporation
Methodology
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