Vinyl Acetate Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Vinyl Acetate Market Analysis
The market for vinyl acetate is expected to register a CAGR of more than 4% during the forecast period.
COVID-19 negatively impacted the market in 2020. However, the market is now estimated to reach pre-pandemic levels and is expected to grow steadily.
- Increased adhesive use in food packaging and growing use in solar power generation are augmenting the market's growth.
- Stringent health and environmental regulations and fluctuating raw material prices will likely hinder the market's growth.
- EVA uses for 3D-printed medical drug delivery devices are projected to act as an opportunity for the market in the future.
- Asia-Pacific is witnessing the highest growth rate due to the growing demand from countries such as China, India, and Japan.
Vinyl Acetate Market Trends
This section covers the major market trends shaping the Vinyl Acetate Market according to our research experts:
Increasing Demand from the Solar Industry
- Most solar cells use ethylene-vinyl acetate (EVA) to encapsulate photovoltaic (PV) modules. It is due to its advantages, such as good light transmittance and elasticity, excellent melt fluidity, low processing temperature, and adhesive property.
- The use of solar cells is constantly increasing worldwide. With increasing government support, the newly installed solar photovoltaic cell capacity increased worldwide over the past decade.
- The total installed capacity of solar photovoltaics is increasing continually. Global cumulative solar PV capacity reached 940 GW in 2021, according to SolarPower Europe.
- The solar market's growth represents a shift towards distributed and renewable energy technologies. Moreover, the solar PV capacity is expected to surpass 2.3 TW over the next three years, with an increase of over 1.4 TW compared to 2021. Additionally, around 168 GW of new PV capacity was installed in 2021.
- Further, according to the International Renewable Energy Agency (IRENA), the solar energy capacity in India peaked at nearly 49.7 GW in 2021. Thus, boosting the growth of the market studied.
- Therefore, the factors above are expected to increase solar energy usage, increasing the vinyl acetate demand during the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific region is to witness robust growth in the vinyl acetate market, owing to the increasing expenditure on construction and the automotive industry in countries like China.
- China stands as the largest producer in the automotive industry. According to the China Association of Automobile Manufacturing, the production of New Energy Passenger Vehicles in the country witnessed a year-on-year increase of 97.8 % in December 2022.
- Further, the production of New Energy Commercial Vehicles in the country witnessed a year-on-year increase of 81% in December 2022. Thus, the expanding automotive market is expected to increase the demand for vinyl acetate in the region.
- Vinyl acetate is widely used to produce paints, coatings, adhesives, and packaging materials. With China being a significant player in these markets, the demand for vinyl acetate is expected to grow during the forecast period.
- Further, the Indian government increased public spending on infrastructure. For instance, according to the Ministry of Statistics and Program Implementation's Infrastructure and Project Monitoring Division, the government had 1,559 projects in the pipeline valued at approx USD 354 billion as of May 2022.
- Furthermore, owing to a strong pipeline of infrastructure projects in several sectors, the Indian construction industry will grow significantly during the forecast period.
- Therefore, as vinyl acetate finds varied applications in end-user industries, such as coatings, adhesives, primers, etc., the demand for vinyl acetate is projected to increase in the country during the forecast period.
Vinyl Acetate Industry Overview
The vinyl acetate market is consolidated in nature. Some of the major players in the market include Celanese Corporation, China Petrochemical Corporation, Exxon Mobil Corporation, KURARAY CO., LTD., and LyondellBasell Industries Holdings B.V., among others (in no particular order).
Vinyl Acetate Market Leaders
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Exxon Mobil Corporation
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Celanese Corporation
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KURARAY CO., LTD.
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LyondellBasell Industries Holdings B.V.
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China Petrochemical Corporation
*Disclaimer: Major Players sorted in no particular order
Vinyl Acetate Market News
- February 2023: Celanese Corporation announced the completion of an ultra-low capital initiative to repurpose existing manufacturing and infrastructure assets to enable extra ethylene vinyl acetate (EVA) capacity at its Edmonton, Alberta site. The development will help the Acetyl Chain's downstream vinyl offering expand significantly.
- December 2022: Showa Denko K.K. announced to license its technology for producing vinyl acetate monomer (VAM) to Asian Paints Limited as part of a formal partnership deal between SDK and KBR, a global engineering and technology solutions company based in the United States. Furthermore, SDK will supply Asian Paints with catalysts for the company's VAM manufacturing.
Vinyl Acetate Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increased Use of Adhesives in Food Packaging
- 4.1.2 Increasing Use in the Solar Power Generation Industry
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4.2 Restraints
- 4.2.1 Stringent Health and Environmental Regulations
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Application
- 5.1.1 Polyvinyl Acetate
- 5.1.2 Polyvinyl Alcohol
- 5.1.3 Ethylene Vinyl Acetate (EVA)
- 5.1.4 Other Applications
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5.2 End-user Industry
- 5.2.1 Solar
- 5.2.2 Automotive
- 5.2.3 Building and Construction
- 5.2.4 Packaging
- 5.2.5 Textile
- 5.2.6 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 Russia
- 5.3.3.5 France
- 5.3.3.6 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle-East and Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Arkema
- 6.4.2 Celanese Corporation
- 6.4.3 China Petrochemical Corporation
- 6.4.4 CLARIANT
- 6.4.5 DCC
- 6.4.6 Exxon Mobil Corporation
- 6.4.7 INEOS
- 6.4.8 Innospec
- 6.4.9 Kemipex
- 6.4.10 LyondellBasell Industries Holdings B.V.
- 6.4.11 Nippon Chemical Industrial CO., LTD.
- 6.4.12 Sipchem Company
- 6.4.13 Wacker Chemie AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Use of EVA for 3D Printed Medical Drug Delivery Devices
Vinyl Acetate Industry Segmentation
Vinyl acetate is a colorless organic compound with the formula CH3CO2CH=CH2. Vinyl acetate monomer (VAM) is an essential intermediate in synthesizing resins and polymers for adhesives, sealants, paints and coatings, elastomers, binders, films, and various other industrial and consumer applications. The vinyl acetate is segmented by application, end-user industry, and geography. By application, the market is segmented into polyvinyl acetate, polyvinyl alcohol, ethylene vinyl acetate, and other applications. The market is segmented into solar, automotive, building and construction, packaging, textile, and other end-user industries by end-user industry. The report also covers the market size and forecasts for the market in 15 countries across the regions. The market sizing and forecasts are based on each segment's value (USD million).
| Application | Polyvinyl Acetate | |
| Polyvinyl Alcohol | ||
| Ethylene Vinyl Acetate (EVA) | ||
| Other Applications | ||
| End-user Industry | Solar | |
| Automotive | ||
| Building and Construction | ||
| Packaging | ||
| Textile | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| Russia | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle-East and Africa |
Vinyl Acetate Market Research FAQs
What is the current Vinyl Acetate Market size?
The Vinyl Acetate Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Vinyl Acetate Market?
Exxon Mobil Corporation, Celanese Corporation, KURARAY CO., LTD., LyondellBasell Industries Holdings B.V. and China Petrochemical Corporation are the major companies operating in the Vinyl Acetate Market.
Which is the fastest growing region in Vinyl Acetate Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Vinyl Acetate Market?
In 2024, the Asia Pacific accounts for the largest market share in Vinyl Acetate Market.
What years does this Vinyl Acetate Market cover?
The report covers the Vinyl Acetate Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vinyl Acetate Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Vinyl Acetate Industry Report
Statistics for the 2024 Vinyl Acetate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vinyl Acetate analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
