Global Vinyl Acetate Market to Reach Nearly $12 Billion
Growth in the global vinyl acetate monomer (VAM) market is attributed to increasing use of adhesives in construction sector, along with rising plastic packaging demand across the globe by various industries
The global vinyl acetate monomer (VAM) market is projected to reach $11.93 billion by 2026, according to the TechSci Research report “Global Vinyl Acetate Monomer Market By Application, By Region, Competition Forecast & Opportunities, 2012-2026.” Growth in the global vinyl acetate monomer market is attributed to increasing use of adhesives in construction sector, automotive manufacturing, furniture production, and coatings industry, along with rising plastic packaging demand across the globe by various industries. Additionally, VAM is witnessing increasing demand for use in production of emulsion polymers, resins used in textiles, wire and cable polyethylene compounds, and laminated safety glass.
In 2016, Asia-Pacific was reportedly the largest consumer of vinyl acetate monomer globally, owing to relaxed environmental policies in leading VAM producing countries. The fast-paced growth of manufacturing industries in the Asia-Pacific region has increased the regional automotive, coatings and furniture production. Moreover, stringent environmental laws imposed on manufacturing sector of several Western Europe and North America economies are pushing multi-national producers as well as consumers of vinyl acetate monomer toward Asia-Pacific. All these factors are expected to boost the demand for vinyl acetate monomer in Asia-Pacific during 2017-2026.
China garnered the major share in the Asia-Pacific vinyl acetate monomer market in 2016, reportedly due to absence of stringent manufacturing regulations and supportive trade regulations coupled with favorable government programs such as 13th Five Year Plan to strengthen manufacturing industry of the country. Moreover, higher economies of scale and ample opportunities offered by China for production at low cost reportedly attracts investments from several multinational VAM producers in China.
“Ethylene vinyl alcohol (EVOH), the largest application area of vinyl acetate monomer in terms of value, is majorly used by manufacturers of packaging films,” said Karan Chechi, research director. “EVOH is gaining popularity in packaging industry due to the introduction of multi-layer barrier packaging technology as well as its ability to provide oxygen barrier food packaging that increases the shelf life of packaged food. Strong inclination of developing as well as developed economies towards the use of refrigerated and shelf stable food items is expected to boost demand for EVOH, which in turn would increase the consumption of VAM through 2026.”
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