Vinyl Acetate Monomer Market Size – USD 8.06 Billion in 2018, CAGR of 3.8%, Trends – The rising demand for paints & coatings
NEW YORK CITY, NEW YORK, UNITED STATES, March 4, 2020 /EINPresswire.com/ -- The Global Vinyl Acetate Monomer market is forecast to reach USD 11.36 Billion by 2027, according to a new report by Reports and Data.
Vinyl Acetate Monomer (VAM), which is also known as acetic acid vinyl ester is an organic colorless, liquid compound, which is polyvinyl acetate’s precursor. It has a molecular formula of C4H4O2. It has considered soluble in water, and the vapor of VAM is heavier than air. It is mainly used as a monomer in the production of polyvinyl alcohol and polyvinyl acetate. VAM is an intermediate used in the manufacturing of various industrial resins and polymers to produce coatings, adhesives, paints, wire & cable insulation and textiles. The expansion of these end-user industries is one of the factor supporting the growth of the market. It is also used as a major component in various high-end products like toughened glass, laminated windscreens, and carbon fiber. The increasing consumption of packaged food and expansion of the automotive sector are also supporting the overall growth of the market.
Europe can be seen to occupy a significant portion of the market. The market share occupied by this region is resultant of a well-established automotive industry, high consumption of packaged food, and growing use of biodegradable plastic.
Further key findings from the report suggest
• The Vinyl Acetate Monomer market held a market share of USD 06 Billion in the year 2018 that is forecasted to grow at a rate of 3.8% during the forecast period.
• In context to Production method, the Reaction of ethylene with acetate species on oxygen-covered PD segment generated the highest revenue of USD 5.56 Billion in 2018, with a CAGR 4.0% during the forecast period. Its extensive application in industrial manufacturing of VAM because of its advantage, like the reaction, produces comparatively fewer by-products results in its elevated preference among manufacturers, which contributes to the revenue generated by this segment.
• The packaging segment held the largest market share of 31.0% in 2018, with a growth rate of 3.9% during the forecast period. The market share held by the packaging segment is resultant of the continuously growing demand for packaged foods and beverages along with the expansion of online food order culture, which results in high demand for VAM wherein it is used as barrier resin. Advancements of multi-layer barrier packaging technology is also positively impacting the market share held by this segment.
• In context to Application, the Polyvinyl Alcohol (PVOH) segment held the second-largest market share of 38.0% in 2018, with a CAGR of 3.9% during the forecast period. The market share held by the Polyvinyl Alcohol (PVOH) segment is resultant of its traits like excellent emulsifying, adhesive, and film-forming properties that result in its elevated use in manufacturing textile yarns, emulsifiers, and adhesives.
• In regards to the region, North America held 0% of the market in 2018, with the fastest growth rate of 4.9% during the forecast period. The growth rate witnessed by the region is the resultant of an increasing availability of shale gas and continuous growth of the packaging & automotive industry.
• Key participants include LyondellBasell Industries, Celanese Corporation, DuPont, The Dow Chemical Company, INEOS, Kuraray, Dairen Chemical Corp, Chang Chun Group, Sipchem, and Sinopec.
• North America
o U.S
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Rest of Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil
o Rest of Latin America
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