USD Analytics forecasts the Vinyl Acetate Monomer Market Size to increase at a 5.1% CAGR over the forecast period from $9.4 Billion in 2024 to $14 Billion in 2032
Vinyl Acetate Monomer (VAM) is a clear, colorless liquid organic compound with a pungent odor as a precursor to a wide variety of industrial and consumer products, particularly polyvinyl acetate homopolymers and copolymers to produce polyvinyl alcohol and ethylene–vinyl alcohol. Robust demand for Polyvinyl acetate (PVAc) and polyvinyl alcohol (PVOH) from packaging, automotive, construction, and other industries drive the demand for Vinyl Acetate Monomers. It is also used to make polyvinyl butyral (PVB), ethylene-vinyl acetate (EVA) copolymers, and ethylene vinyl alcohol (EVOH) resins. Strong adhesion properties across paper, films, and metals drive the industry size over the forecast period.
Celanese VAM Technology, DuPont VAM Technology, and LyondellBasell VAM Technology are among the widely used technologies. Innovations in polymerization techniques for stronger adhesion and durability in applications drive long-term market prospects. End-user demand for polymer emulsions as base resins in paints, adhesives, and coatings supports the VAM sales volume. In particular, Paints and Coatings (low VOC emissions), Adhesives (toughness and clarity), RDP (barrier to aroma and oxygen), glass (brightness and contamination resistance), and packaging (adhesion and quick drying) drive the market demand.
The global production capacity of VAM stood at 10 MTPA in 2024 and the industry is characterized by volatile prices driven by feedstock prices, varying end-user demand, and plant utilization rates. The price softened over the past year around $1,000/MT but as VAM makers in the US and Europe tighten supplies, the prices are set to fluctuate. Celanese has declared force majeure on acetic acid and vinyl acetate monomer in the Americas and the EMEA regions in 2024.
VAM’s application in water-based paints and coatings is driving demand, particularly in Asia-Pacific. Similarly, Sekisui is expanding its VAM production, aiming to increase PVOH capacity by 20% by 2025, primarily to serve the rising demand for photovoltaic panels and electronics while Asian Paints is building a new 100 KT production plant. Further, INEOS & LOTTE plans to add 250 KT VAM capacity by 2025 and ShengHong Holding Group Lianyungang VAM Plant to add 300 KT capacity.
Bio-based Acetic acid is being used for the production of VAM for use in paints, coatings, inks, adhesives, and sealants in textiles. Godavari Biorefineries Ltd., LENZING AG, Airedale Group, Novozymes A/S, Sekab, and others continue to invest in bio-acetic acid production. Further, bio-based crotonic acid is researched for producing VAM, VAM-based adhesive from bioethanol, and others are widely invested. The use of fermentation technologies, conversion of bio-based ethanol into acetic acid, and others are widely observed for the production of the building block in water-based polymers.
For instance, WACKER uses biobased acetic acid and ethylene to produce vinyl acetate monomer, which is copolymerized with ethylene to produce VAE. LyondellBasell and Neste agree on a long-term commercial relationship to market polymers and chemicals from renewable feedstock. Fossil-fuel-based VAM has moderate toxicity and is biodegraded by anaerobic and aerobic mechanisms. Emerging technologies to deploy eco-friendly production processes drive the market outlook. European countries aim to reduce greenhouse gas emissions by 55% by 2030, as per the European Green Deal, encouraging bio-based VAMs. As consumers increasingly prefer textiles, paints, and coatings sources from bio-based alternatives, the demand for bio-based VAM is increasing.
VAM-based polymers including EVA are gaining significant demand from battery encapsulation, sealing, and thermal insulation for lithium-ion batteries in electric vehicles. Driven by superior electrical insulation and the ability to manage thermal runaway risks, VAM-based adhesives and coatings offer high strength-to-weight ratios, driving bonding, and sealing applications in critical EV components. Further, ethylene-vinyl acetate (EVA) and polyvinyl acetate (PVA) integrate into the battery assembly process, ensuring protection against thermal and mechanical stress. Dow’s EVA-based films, Wacker Chemie AG’s silicone-VAM hybrid adhesives, Arkema’s high-performance VAM-based encapsulant, EV Guard® Coatings by AkzoNobel, Elvax® Resins by DuPont, and others continue to witness robust market demand with the increasing Electric Vehicle sales.
The Vinyl Acetate Monomer (VAM) market ecosystem encompasses well-established industry stakeholders, including raw material suppliers, VAM producers, end-use industries, and regulatory bodies.
Polyvinyl Alcohol (PVOH), a key derivative of Vinyl Acetate Monomer (VAM), generated an estimated $4.4 billion in revenue. PVOH is widely used across diverse industries due to its superior film-forming, emulsifying, and adhesive properties, making it essential in the production of adhesives, textiles, and packaging materials. In particular, the textile industry heavily relies on PVOH for warp sizing and finishing, encouraging Kuraray and Sekisui Chemical to boost their PVOH capacities. Further, PVOH’s strong adhesive properties fuel its use in the construction industry for wood adhesives, paints, and coatings. Celanese and Chang Chun Group are major players supplying PVOH to adhesive manufacturers. In addition, the biocompatibility of PVOH has expanded its use in pharmaceutical formulations and biomedical devices.
The packaging industry is rapidly adopting VAM-derived polymers to cater to the rising demand for environmentally friendly and high-performance packaging solutions with a 31.8% market share. The rapid adoption of flexible packaging solutions in the food and beverage industry drives the demand for VAM. In particular, VAM-derived ethylene-vinyl acetate (EVA) copolymers are widely used in food-safe films, pouches, and cling wraps due to their excellent clarity, flexibility, and adhesive properties.
Further, the demand for sterile, moisture-resistant packaging for pharmaceuticals is driving the VAM sales revenue from the packaging industry. VAM-based copolymers, especially ethylene-vinyl alcohol (EVOH), are marketed for their superior barrier properties, which help protect sensitive products from oxygen and moisture. Kuraray’s Advanced EVOH for Oxygen Barrier Packaging, Celanese’s Renewable VAM and Biodegradable Packaging Films, Sekisui Specialty Packaging Films for Pharma, Amcor partnerships with Circular Economy groups and chemical recycling companies, and others are gaining significant business growth. In addition, Recent innovations in PVOH-based water-soluble films are revolutionizing packaging, particularly in detergents, agrichemicals, and personal care. Kuraray’s Poval™ series, for example, is seeing rapid adoption for unit-dose packaging solutions that dissolve completely in water, reducing plastic waste.
With a 58.6% market share, Asia Pacific is the largest and the fastest growing market for Vinyl Acetate monomers worldwide. In particular, China accounted for the majority of the demand with 22% of revenue in the world. The packaging industry in Asia-Pacific is witnessing exponential growth. China, India, and Southeast Asia are major drivers. In addition, according to the China Association of Automobile Manufacturers (CAAM), China is set to maintain dominance in the electric vehicle (EV) sector, with production slated to surpass 10 million EVs by 2025. Further, the textile industry in countries like China, India, and Vietnam heavily utilizes VAM in polyvinyl acetate (PVAc) adhesives, which are used in fabric finishing and binding. In addition, to meet growing demand, major manufacturers are expanding their production capacity in Asia Pacific, driving the long-term outlook.
The Vinyl Acetate Monomer market is partially consolidated with local players posing stiff competition to global majors. Companies are investing in capacity expansions, technological innovations, and sustainable production to maintain their competitive edge. Capacity expansion in Asia, innovation in bio-based VAM products, long-term supply agreements with key customers, enhancing operational efficiency in production plants, focusing on high-growth markets like automotive and renewable energy, innovating in packaging and adhesives applications, integrating VAM production with downstream applications like adhesives and coatings, and others drive the market outlook. Leading companies included in the study are Arkema S.A., Celanese Corp, China Petrochemical Corp (Sinopec), Clariant AG, DCC plc, Exxon Mobil Corp, INEOS Group Holdings S.A., Innospec Inc, Kemipex FZE, LyondellBasell Industries Holdings B.V., Nippon Chemical Industrial CO. Ltd, Sipchem Company, Wacker Chemie AG, and others.
|
Parameter |
Details |
|
Market Size (2024) |
$9.4 Billion |
|
Market Size (2032) |
$14 Billion |
|
Market Growth Rate |
5.1% |
|
Largest Segment- Application |
PVOH ($4.4 Billion) |
|
Fastest Growing Market- Region |
Asia Pacific (5.5% CAGR) |
|
Largest End-User Industry |
Packaging (31.8% Market Share) |
|
Segments |
Types, Applications |
|
Study Period |
2018- 2023 and 2024-2032 |
|
Units |
Revenue (USD) |
|
Qualitative Analysis |
Porter’s Five Forces, SWOT Profile, Market Share, Scenario Forecasts, Market Ecosystem, Company Ranking, Market Dynamics, Industry Benchmarking |
|
Companies |
Arkema S.A., Celanese Corp, China Petrochemical Corp (Sinopec), Clariant AG, DCC plc, Exxon Mobil Corp, INEOS Group Holdings S.A., Innospec Inc, Kemipex FZE, LyondellBasell Industries Holdings B.V., Nippon Chemical Industrial CO. Ltd, Sipchem Company, Wacker Chemie AG |
|
Countries |
US, Canada, Mexico, Germany, France, Spain, Italy, UK, Russia, China, India, Japan, South Korea, Australia, South East Asia, Brazil, Argentina, Middle East, Africa |
Applications
End-Users
Geography
Companies
*- List Not Exhaustive
About USD Analytics
Table of Contents
1. Executive Summary
What’s New in 2024?
Top 10 Takeaways from the industry
Potential Opportunities for Industry Stakeholders
Strategic Imperatives
Company Market Positioning
Industry Benchmarking Matrix
2. Research Scope and Methodology
Market Definition
Market Segments
Companies Profiled
Research Methodology
Data Sources
Conversion Rates for USD
Abbreviations
3. Strategic Landscape: Key Insights and Implications
Spotlight: Key Strategies opted by Business Leaders
Competitive Landscape
SWOT Analysis
Porter’s Five Force Analysis
Macro-Environmental Analysis
5. Growth Opportunity Analysis
Trends at a Glance
Market Dynamics
Key Industry Stakeholders
Regulatory Landscape
6. Market Size Outlook to 2032
Global Vinyl Acetate Monomer Market Size Forecast, USD Million, 2018- 2032
Scenario Analysis
Pricing Analysis and Outlook
7. Historical Vinyl Acetate Monomer Market Size by Segments, 2018- 2023
Key Statistics, 2024
Vinyl Acetate Monomer Market Size Outlook by Type, USD Million, 2018-2023
Growth Comparison (y-o-y) across Vinyl Acetate Monomer Types, 2018-2023
Vinyl Acetate Monomer Market Size Outlook by Application, USD Million, 2018-2023
Growth Comparison (y-o-y) across Vinyl Acetate Monomer Applications, 2018-2023
8. Vinyl Acetate Monomer Market Size Outlook by Segments, 2024- 2032
Vinyl Acetate Monomer Market Size Outlook by Type, USD Million, 2024-2032
Growth Comparison (y-o-y) across Vinyl Acetate Monomer Types, 2024-2032
Vinyl Acetate Monomer Market Size Outlook by Application, USD Million, 2024-2032
Growth Comparison (y-o-y) across Vinyl Acetate Monomer Applications, 2024-2032
9. Vinyl Acetate Monomer Market Size Outlook by Region
North America
Europe
Asia Pacific
South America
Middle East and Africa
10. United States Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
United States Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
United States Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
United States Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
11. Canada Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Canada Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Canada Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Canada Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
12. Mexico Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Mexico Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Mexico Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Mexico Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
13. Germany Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Germany Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Germany Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Germany Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
14. France Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
France Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
France Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
France Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
15. United Kingdom Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
United Kingdom Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
United Kingdom Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
United Kingdom Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
10. Spain Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Spain Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Spain Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Spain Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
16. Italy Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Italy Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Italy Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Italy Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
17. Benelux Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Benelux Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Benelux Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Benelux Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
18. Nordic Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Nordic Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Nordic Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Nordic Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
19. Rest of Europe Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Europe Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Rest of Europe Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Rest of Europe Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
20. China Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
China Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
China Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
China Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
21. India Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
India Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
India Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
India Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
22. Japan Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Japan Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Japan Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Japan Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
23. South Korea Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
South Korea Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
South Korea Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
South Korea Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
24. Australia Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Australia Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Australia Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Australia Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
25. South East Asia Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
South East Asia Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
South East Asia Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
South East Asia Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
26. Rest of Asia Pacific Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Asia Pacific Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Rest of Asia Pacific Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Rest of Asia Pacific Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
27. Brazil Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Brazil Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Brazil Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Brazil Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
28. Argentina Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Argentina Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Argentina Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Argentina Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
29. Rest of South America Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of South America Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Rest of South America Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Rest of South America Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
30. United Arab Emirates Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
United Arab Emirates Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
United Arab Emirates Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
United Arab Emirates Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
31. Saudi Arabia Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Saudi Arabia Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Saudi Arabia Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Saudi Arabia Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
32. Rest of Middle East Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Middle East Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Rest of Middle East Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Rest of Middle East Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
33. South Africa Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
South Africa Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
South Africa Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
South Africa Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
34. Rest of Africa Vinyl Acetate Monomer Market Analysis and Outlook, 2021- 2032
Key Statistics
Rest of Africa Vinyl Acetate Monomer Market Size Outlook by Type, 2021- 2032
Rest of Africa Vinyl Acetate Monomer Market Size Outlook by Application, 2021- 2032
Rest of Africa Vinyl Acetate Monomer Market Size Outlook by End-User, 2021- 2032
35. Key Companies
Market Share Analysis
Company Benchmarking
Financial Analysis
36. Recent Market Developments
37. Appendix
Looking Ahead
Research Methodology
Legal Disclaimer
By Application
Polyvinyl Acetate
Polyvinyl Alcohol
Ethylene Vinyl Acetate
Others
By End-User
Solar
Automotive
Building and Construction
Packaging
Textile
Others
Countries Analyzed
North America (US, Canada, Mexico)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, South East Asia, Rest of Asia)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa)
Vinyl Acetate Monomer Market Size to increase at a 5.1% CAGR over the forecast period from $9.4 Billion in 2024 to $14 Billion in 2032
Polyvinyl Alcohol (PVOH) generated an estimated $4.4 billion in revenue, Packaging is projected to be the largest revenue generator with a 31.8% revenue share
Arkema S.A., Celanese Corp, China Petrochemical Corp (Sinopec), Clariant AG, DCC plc, Exxon Mobil Corp, INEOS Group Holdings S.A., Innospec Inc, Kemipex FZE, LyondellBasell Industries Holdings B.V., Nippon Chemical Industrial CO. Ltd, Sipchem Company, Wacker Chemie AG
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: Revenue (USD); Volume
Asia Pacific (5.5% CAGR)