Global vinyl acetate monomer market reach $12 bn by 2026 – Report
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Global vinyl acetate monomer market to reach $12 bn by 2026 – Report

7:12 AM, 17th August 2017
Global vinyl acetate monomer market to reach $12 bn by 2026 – Report
Vinyl acetate monomer is an essential chemical building block that is used in the production of a variety of chemicals. (File photo)

Growth in downstream industries, rising construction activities, increasing plastic packaging, and expanding automotive and furniture production to drive global vinyl acetate monomer market through 2026

According to a report by TechSci Research, “Global vinyl acetate monomer market by application, by region, competition forecast & opportunities, 2012 – 2026”, the global vinyl acetate monomer market is projected to reach $11.93 billion by 2026.

Growth in the global vinyl acetate monomer (VAM) market is attributed to increasing use of adhesives in construction sector, automotive manufacturing, furniture production and paints & 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. Vinyl acetate monomer is an essential chemical building block that is used in the production of a variety of chemicals, which are further used during the production of a wide range of industrial and consumer products.

In 2016, Asia-Pacific was 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 Asia-Pacific region has increased the regional automotive, paints & 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 towards 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 due to absence of stringent manufacturing regulations and supportive trade regulations coupled with favourable 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 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. 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,” said Karan Chechi, research director with TechSci Research.

“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,” added Chechi.

The report has evaluated the future growth potential of global vinyl acetate monomer market and provides statistics and information on market structure and trends. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides this, the report also identifies and analyses emerging trends along with essential drivers, challenges and opportunities available in global vinyl acetate monomer market.

© Chemical Today News 

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