The global vinyl acetate market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand for solar power in developed and emerging economies.
Vinyl acetate is a colorless chemical compound that is precursor to polyvinyl acetate, a crucial industrial polymer. It is prepared by reacting ethylene with oxygen and acetic acid over a palladium catalyst. It does not emit toxic gases. Polyvinyl acetate makes glue highly viscous, which is utilized in various industrial applications.
The outbreak of COVID-19 led to halt of supply of raw materials, thus disrupting various industries, leading to low supply and high demand for vinyl acetate. However, relaxation of restriction eased the logistics trade activities, which is estimated to help the market recover soon.
Market Trends, Drivers, Restraints, and Opportunities
- Growing demand for paints & coatings on account of increasing spent on infrastructure development is expected to have a positive influence on the vinyl acetate market growth during the forecast period.
- Rising packaging innovation is expected to propel the growth of the market.
- Increasing focus of industry players on expanding production capacity can boost the market growth.
- Fluctuating cost of crude has a direct impact on the vinyl acetate market price, which in turn, can hinder the market growth.
- Growing demand in Asia Pacific for EVA-based photovoltaic application is expected to provide new opportunities for the growth of the market.
- Rising trend of eco-friendly packaging is anticipated to foster the market growth.
Scope of the Report
The report on the global vinyl acetate market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Vinyl Acetate Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Polyvinyl Acetate, Polyvinyl Alcohol, Ethylene Vinyl Acetate, and Other Applications), End-user Industries (Solar, Automotive, Building and Construction, Packaging, Textile, and Other End-user Industries)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Celanese Corporation; China Petrochemical Corporation (Sinopec); Exxon Mobil Corporation; Kuraray Co. Ltd; LyondellBasell Industries Holdings BV; and Sipchem
Vinyl Acetate Market Segment Insights
Polyvinyl acetate segment is expected to account a major market share
Based on applications, the market is divided into polyvinyl acetate, polyvinyl alcohol, ethylene vinyl acetate, and other applications. The polyvinyl acetate segment is expected to hold a major market share during the forecast period owing to growing demand for this chemical compound in various industries in China. However, the polyvinyl alcohol segment is anticipated to hold a key share of the market in the coming years on account of increasing demand for effective film forming and emulsifier.
Automotive segment is projected to register a healthy CAGR
On the basis of the end-user industries, the market is segregated into solar, automotive, building and construction, packaging, textile, and other end-user industries. The automotive segment is projected to register a healthy CAGR during the forecast period due to increasing production of automobiles. On the other hand, the solar segment is anticipated to account for a major market share due to rising focus on renewable energy.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the vinyl acetate market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to increasing investment in construction and automotive industries, especially in India and China. However, North America is anticipated to expand at a rapid pace during the forecast period due to growing redevelopment in countries such as the US and Canada.
Segments Covered in the Report
The global vinyl acetate market has been segmented on the basis of
- Polyvinyl Acetate
- Polyvinyl Alcohol
- Ethylene Vinyl Acetate
- Other Applications
- Building and Construction
- Other End-user Industries
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Celanese Corporation
- China Petrochemical Corporation (Sinopec)
- Exxon Mobil Corporation
- Kuraray Co. Ltd
- LyondellBasell Industries Holdings BV
Key players competing in the global vinyl acetate market are Celanese Corporation; China Petrochemical Corporation (Sinopec); Exxon Mobil Corporation; Kuraray Co. Ltd; LyondellBasell Industries Holdings BV; and Sipchem.
In May 2020, Celanese Corporation, a global chemical and specialty materials company, announced that it signed a memorandum of understanding for a long-term commercial agreement with Anhui Wanwei Group Co., Ltd., (Wanwei), a China-based green technology supplier, to supply ethylene-based vinyl acetate monomer (VAM).