The Global Vinyl Acetate Monomer Market Growth Accelerated By Increased Use In Paints & Coatings

 

Vinyl Acetate Monomer Market

Vinyl acetate monomer is an organic compound used to produce polyvinyl acetate and other vinyl polymers. It is a colorless liquid with a mild, sweet odor. Vinyl acetate monomer finds wide usage in production of adhesives, paints & coatings, textiles, and paper. Adhesives made from vinyl acetate are extensively used in woodworking and construction for bonding wood, glass, plaster, plastic, and metal. They offer benefits like high bond strength, flexibility, and resistance to moisture.

The global vinyl acetate monomer market is estimated to be valued at US$ 10.78 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

 

Growing adoption of vinyl acetate monomer in construction industry is the primary driver propelling the market growth. Vinyl acetate based adhesives have emerged as a popular choice for various building applications like flooring, drywall, subflooring, and roofing owing to their strong adhesion, flexibility, and moisture resistance. Furthermore, vinyl acetate is widely used in production of paints and coatings. Growing construction activities in developing nations of Asia Pacific and Latin America are augmenting the demand for paints and coatings, which in turn is fueling the vinyl acetate monomer market. In addition, vinyl acetate finds application in textiles where it is used for production of fibers. Surging textile industry mainly in China and India is boosting the market growth.

 

SWOT Analysis

Strength: The vinyl acetate monomer market is expected to witness steady demand due to its wide range of applications. Vinyl acetate monomer is used in the production of various adhesives, coatings, and paints. It also finds applications in textiles, films, and fibers. Moreover, vinyl acetate monomer has high resistance to chemicals and heat making it suitable for use in diverse end use industries.

Weakness: Stringent environmental regulations regarding VOC emissions can hamper market growth to some extent. Certain health hazards associated with vinyl acetate monomer such as eye, skin, and respiratory tract irritation may also restrict the market expansion.

Opportunity: Growing demand from the building and construction industry due to rapid urbanization is expected to offer new opportunities. Increasing usage of vinyl acetate based emulsions in wood paints and decorative paints will further aid the market growth over the forecast period.

Threats: Availability of substitutes like polyvinyl chloride (PVC) and polyethylene may threaten the vinyl acetate monomer market. Fluctuations in raw material prices is another challenge for the market.

 

Key Takeaways

The Global Vinyl Acetate Monomer Market size is expected to witness high growth over the forecast period from 2024 to 2031. The global vinyl acetate monomer market is estimated to be valued at US$ 10.78 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

 

Regional analysis: Asia Pacific region dominates the global vinyl acetate monomer market. China accounts for a major share in the regional as well as global market. This can be attributed to the rapid industrialization and growing construction activities in the region. India and Southeast Asian countries are also forecast to offer lucrative opportunities due to rising infrastructure development projects.

 

Key players: Key players operating in the vinyl acetate monomer market are Celanese Corporation, Dairen Chemical Corporation, Japan VINYL ACETATE MONOMER & POVAL Co. Ltd., Kuraray Co. Ltd., LyondellBasell Industries, Ningxia Yinglite Chemical Co., Ltd., China Petroleum & Chemical Corporation (Sinopec Corp.), The Dow Chemical Company, Wacker Chemie AG. These players are focused on capacity expansion strategies to cater to the growing demand for vinyl acetate monomer from different end use industries.


Get More Insights Here

https://captionssky.com/what-are-thermoplastic-elastomers/

https://www.pressreleasebulletin.com/vinyl-acetate-monomer-market-size-share-growth-outlook-2023/

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