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