Overview of the global vinyl acetate market
Technavio’s market research analysts predicts that the global vinyl acetate market will grow at a CAGR of above 5% during the forecast period. One of the primary drivers for this market’s growth is the rising demand from the automotive industry. The vinyl acetate products are used in range of applications in the automotive industry like sealing doors and windows, adhesives for bonding and attractive parts, and use of adhesives for side moldings, vinyl roofs, and others. Moreover, the increase in production volume and rise in number of automobile variants have accelerated the demand. Additionally, the need for repairs and increasing maintenance work will further boost the sales of vinyl acetate products over the coming years.
One of the latest trends that will gain traction in the global vinyl acetate market is the increasing use of vinyl acetate products in the solar power generation industry. Ethylene vinyl acetate (EVA) based films serve as an effective moisture barriers and has electrical insulation properties. This, in turn, ensures improved protection of the solar cell and modules helping in generation of extra electric power over its service life. During the forecast period, the growth of this industry is anticipated to drive the global vinyl acetate market. For instance, the solar industry witnessed double-digit installation growth, whereas, in 2014, photovoltaics (PV) installations reached about 45 gigawatts (GW), which presents a strong foothold of the market.
Competitive analysis and key vendors
The global vinyl acetate market is largely competitive with a presence of few key players and some regional and local players holding significant number of market share. The competition in the market is mainly based on innovations, price and quality, where a few players attract consumers due to their low costs. Moreover, suppliers with good financial and technological resources take the lead compared to their competitors as they can sustain changes in various market conditions.
Key vendors in the market are:
- Celanese Corporation
- Dow Chemical
- KURARAY
- LyondellBasell
- Sipchem
Other prominent vendors include Arkema, China Petrochemical Corporation (Sinopec), Dairen Chemical Corporation, and Wacker Chemie.
Segmentation by application and analysis of the vinyl acetate market
During 2016, the polyvinyl acetate (PVA) segment accounted for the highest market share and is foreseen to grow higher in the next four years. The market growth is mainly attributed to the rise in demand in polymer production, plastic bottling, and packaging applications. Moreover, the increasing use of polymer compound as additives in construction cement is also likely to drive the demand for the PVA.
Geographical segmentation and analysis of the vinyl acetate market
- APAC
- Europe
- North America
- ROW
In terms of geography, APAC dominated the global vinyl acetate market and is expected to lead the market during the forecast period. Factors like increasing expenditure on construction and rising automotive production is likely to boost the market’s growth in the region in the next four years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global vinyl acetate market?
- What are the key market trends impacting the global vinyl acetate market?
- What are the challenges to market growth?
- Who are the key vendors in the global vinyl acetate market?
- What are the market opportunities and threats faced by the vendors in the global vinyl acetate market?
- Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global vinyl acetate market?
Technavio also offers customization on reports based on specific client requirement.
Related reports