Market Size of Vinyl Acetate Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 | ||||||||
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Vinyl Acetate Market Size Summary
The vinyl acetate monomer market is poised for steady growth, driven by its increasing application in various industries. The demand for vinyl acetate is bolstered by its use in adhesives for food packaging and its growing role in solar power generation, particularly in the encapsulation of photovoltaic modules. The market is recovering from the setbacks caused by the COVID-19 pandemic and is expected to reach pre-pandemic levels. However, challenges such as stringent health and environmental regulations and fluctuating raw material prices may impede growth. Opportunities are emerging in the form of ethylene-vinyl acetate (EVA) applications in 3D-printed medical drug delivery devices. The Asia-Pacific region is experiencing the highest growth rate, fueled by rising demand in countries like China, India, and Japan, where increased construction and automotive activities are driving the need for vinyl acetate.
The solar energy sector's expansion, with a significant increase in solar photovoltaic capacity, is a key factor contributing to the vinyl acetate market's growth. The shift towards renewable energy technologies is expected to boost the demand for vinyl acetate, particularly in solar cell applications. In China, the automotive industry's robust growth, especially in New Energy Vehicles, is further propelling the demand for vinyl acetate, which is extensively used in paints, coatings, adhesives, and packaging materials. Similarly, India's infrastructure development projects are anticipated to drive the demand for vinyl acetate in construction-related applications. The market is consolidated, with major players like Celanese Corporation, China Petrochemical Corporation, and Exxon Mobil Corporation leading the industry. Recent developments, such as Celanese's expansion of EVA capacity and Showa Denko K.K.'s partnership with Asian Paints, highlight ongoing efforts to enhance production capabilities and meet growing demand.
Vinyl Acetate Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increased Use of Adhesives in Food Packaging
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1.1.2 Increasing Use in the Solar Power Generation Industry
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1.2 Restraints
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1.2.1 Stringent Health and Environmental Regulations
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1.2.2 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Application
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2.1.1 Polyvinyl Acetate
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2.1.2 Polyvinyl Alcohol
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2.1.3 Ethylene Vinyl Acetate (EVA)
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2.1.4 Other Applications
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2.2 End-user Industry
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2.2.1 Solar
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2.2.2 Automotive
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2.2.3 Building and Construction
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2.2.4 Packaging
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2.2.5 Textile
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2.2.6 Other End-user Industries
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 Russia
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2.3.3.5 France
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2.3.3.6 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Vinyl Acetate Market Size 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.
