Rockville, MD, Aug. 08, 2023 (GLOBE NEWSWIRE) -- According to the new market research report, titled, "Vinyl Acetate Market Analysis by Process (Ethylene Process, Acetylene Process), By Application (Polyvinyl Acetate, Polyvinyl Alcohol, Ethylene Vinyl Acetate), By End Use (Solar, Automotive, Building & Construction, Packaging, Textiles) & By Region – Global Market Insights 2023 to 2033" published by Fact.MR, the global vinyl acetate market is valued at US$ 10.5 billion in 2023 and is forecasted to expand at 4.5% CAGR from 2023 to 2033. The report provides an in-depth analysis of evolving market trends, prominent segments, essential investment opportunities, value chains, regional landscapes, and competitive scenarios.
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Vinyl acetate is a colorless chemical compound with the formula CH3CO2CH=CH2. Vinyl acetate monomer (VAM) is an important intermediate in the manufacturing of resins and polymers used in glues, sealants, paints and coatings, elastic materials, binders, films, and a range of other industry and consumer applications. Innovations in areas such as adhesion strength, moisture resistance, and flexibility have led to the development of new applications and expanded market opportunities.
Expansion of important downstream uses such as polyvinyl acetate, polyvinyl alcohol, and ethylene vinyl acetate is boosting demand for vinyl acetate. Production of ethylene vinyl alcohol is the product's significantly expanding end use. EVA resins are also utilized in the manufacture of packing film, foam, wires and cables, hot melt adhesives, and the encapsulation of photovoltaic (PV) modules in solar cells. Over the projected period, demand for photovoltaic panels, which are utilized in solar cells, is expected to rise.
Increased use of adhesives in the building, furniture, and paints and coatings industries, as well as rising demand for plastic packaging from various consumer and industrial products manufacturing industries, are likely to fuel growth. Furthermore, infrastructure development and increased automobile production, particularly in developing nations, are expected to drive global demand for vinyl acetate throughout the forecast period.
Key Takeaways from Market Study
- The global market for vinyl acetate reached a valuation of US$ 10.05 billion in 2022.
- From 2023 to 2033, worldwide demand for vinyl acetate is predicted to rise at a 4.5% CAGR.
- By 2033, the global market is expected to reach US$ 16.2 billion.
- Leading manufacturers of vinyl acetate include Clariant, ExxonMobil Corporation, and Celanese Corporation
“The market for vinyl acetate is being driven by the growth of end-use industries, rising construction activities, and overall improving economic conditions in different regions. Demand for vinyl acetate is closely tied to the construction sector since it is used in adhesives and coatings for various construction applications,” says a Fact.MR analyst.
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Market Competition
The global market is highly competitive and fragmented, with several global and regional players. Key producers of vinyl acetate include Celanese Corporation, Dow Chemical Company, Wacker Chemie AG, Sinopec Group, and Kuraray Co., Ltd., among others. These companies are involved in continuous research and development activities to improve production processes and develop innovative applications for vinyl acetate.
- Celanese Corporation announced the completion of an ultra-low capital program in February 2023 to reuse the present manufacturing and construction expenditures at its Edmonton, Alberta plant to enable additional ethylene vinyl acetate (EVA) capacity. The new product significantly enhances the company’s downstream vinyl offering.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global vinyl acetate market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on process (ethylene process, acetylene process), application (polyvinyl acetate, polyvinyl alcohol, ethylene vinyl acetate), and end use (solar, automotive, building & construction, packaging, textiles), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).
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