“Global Vinyl Acetate Monomer Market to reach a market value of USD 13.5 Billion by 2031 growing at a CAGR of 4.7%”
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.
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
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.
Free Valuable Insights: Global Vinyl Acetate Monomer Market size to reach USD 13.5 Billion by 2031
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 9.5 Billion |
| Market size forecast in 2031 | USD 13.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 4.7% from 2024 to 2031 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 302 |
| Number of Tables | 570 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | End-user, Application, Region |
| Country scope |
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| Companies Included | 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 |
By End-user (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
The Market size is projected to reach USD 13.5 billion by 2031.
Innovative applications in renewable energy are driving the Market in coming years, however, Volatility in raw material prices restraints the growth of the Market.
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
In the year 2023, the market attained a volume of 6,632.1 kilo tonnes, experiencing a growth of 19.1% (2020-2023).
The Construction segment is leading the Market by End-user in 2023; thereby, achieving a market value of $4.7 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6.3 billion by 2031.
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