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The vinyl acetate monomer market size is forecast to increase by USD 1.57 billion at a CAGR of 3.6% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Polyvinyl acetate monomer (PVM) is a versatile chemical compound extensively utilized in various industries, including adhesives, paints and coatings, textiles, films, construction, and ethylene-vinyl acetate (EVA). PVM's compatibility with resins makes it an ideal choice for numerous applications. In the adhesives sector, PVM-based adhesives offer superior bonding strength and adaptability to various surfaces. These adhesives are non-toxic and eco-friendly, making them a safe and sustainable option. The expanding e-commerce industry in emerging economies, such as India and China, is anticipated to boost the demand for adhesives and sealants. The packaging industry's shift towards lightweight and strong formulations will further fuel the market growth during the forecast period.
Furthermore, in the paints and coatings industry, PVM is employed as a monomer in producing acrylic polymers, which offer excellent adhesion, flexibility, and resistance to weathering. In the textile industry, PVM is used in the production of textile coatings and sizing agents, enhancing fabric strength and durability. In the films sector, PVM is used to create polyvinyl acetate films, which are widely used in packaging and industrial applications. In construction, PVM is utilized in the production of plastics and adhesives for insulation, roofing, and flooring applications.
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The polyvinyl acetate(PVA) segment was valued at USD 3.60 billion in 2018 and showed a gradual increase during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The construction materials sector in the Asia Pacific (APAC) region is experiencing significant growth due to increasing investments in infrastructure development. This expansion is anticipated to drive the demand for products such as paints and coatings, adhesives and sealants, and electronics, which in turn will fuel the need for vinyl acetate monomer (VAM). The economic growth in developing countries like China and rising foreign investments have led to an increase in per capita income, enabling consumers to purchase more goods, including cars. This trend is expected to continue during the forecast period. Moreover, there is a growing focus on green product development in response to concerns over carbon dioxide emissions and environmental pollution.
Moreover, VAM is a versatile monomer used in the production of low-volatile organic compound (VOC) paints and coatings, biodegradable plastics, and other eco-friendly products. Renewable natural resources are being explored as alternatives to traditional fossil fuels in VAM production, making it an attractive option for companies seeking to reduce their carbon footprint and meet sustainability goals. In conclusion, the expanding construction sector, increasing consumer purchasing power, and the shift towards green and sustainable products are key factors driving the demand for vinyl acetate monomer in the APAC region. This trend is expected to continue in the coming years, making it an attractive investment opportunity for companies in the chemicals industry.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising residential and commercial infrastructure activities is the key driver of the market.
Rising demand for flexible packaging is the upcoming trend in the market.
The volatility of raw material prices is a key challenge affecting the market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Vinyl acetate monomers (VAM) are essential raw materials used in the production of various industries, including adhesives, paints, coatings, textiles, films, and construction materials. These monomers play a crucial role in creating high-performance adhesives, construction materials, and specialty materials such as ethylene-vinyl acetate (EVA) and polyvinyl acetate (PVA). In the adhesives sector, VAM is used to manufacture adhesives with excellent bonding properties, making them suitable for various applications, including consumer goods and e-commerce. The paints and coatings industry utilizes VAM to produce low-volatile organic compound (VOC) paints and coatings, contributing to reducing carbon dioxide emissions and environmental pollution. The textile industry uses PVA and PVA-based fibers to create biodegradable plastics, making them environmentally friendly alternatives to conventional textiles.
Moreover, in the construction sector, VAM-based materials offer superior performance and durability, making them a preferred choice for green product development. The renewable energy sector also benefits from VAM through the production of EVA copolymers used in the manufacturing of PV (photovoltaic) cells. Furthermore, VAM is used in food packaging to enhance the shelf life and safety of food products. VAM production is derived from crude oil, making it essential to explore alternative renewable natural resources for its production to reduce the carbon footprint and promote sustainable manufacturing. Vinyl acetate monomers, polymers, and resins continue to play a significant role in various industries, offering versatility and superior performance.
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Market Scope |
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Report Coverage |
Details |
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Page number |
151 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.6% |
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Market Growth 2024-2028 |
USD 1.57 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.4 |
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Key countries |
China, US, Germany, Japan, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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