Overview
Global Vinyl Acetate Monomer Market reached US$ 10.2 billion in 2023 and is expected to reach US$ 15.7 billion by 2031, growing with a CAGR of 4.5% during the forecast period 2024-2031.
The global adhesives industry’s expansion due to rising demand from major end-use industries is projected to continue to be a major driving force in the global vinyl acetate monomer market during the forecast period. Packaging is a major user of adhesives and sealants. Packaging is in high demand from end-user sectors such as automotive and construction.
According to CEPI, total paper and board production in the CEPI member countries of the European Union was 90,583 kilotons, representing a 6.1% increase from 85,349 kilotons in 2020. In 2021, packaging paper and board accounted for 53,545 kiloTons of total production. Furthermore, CEPI member nations’ overall consumption of paper and board in 2021 was 75,219 kilotons, up from 71,108 kilotons in 2020, representing a 5.8% increase.
In 2023, North America is expected to be the second-fastest growing region, holding about 25% of the global vinyl acetate monomer market. A promising outcome for the packaging industry in U.S., combined with the country’s shale gas boom, is projected to continue to be a key driving force for regional market growth.
Dynamics
Growing Demand from Solar Industry
The majority of solar cells employ ethylene-vinyl acetate to enclose photovoltaic modules. It is due to its advantages, which include high light transmittance and flexibility, great melt fluidity, low processing temperature and adhesive properties. The use of solar cells is growing rapidly over the world. Over the last decade, as government funding has increased, the capacity of newly installed solar photovoltaic cells has expanded globally.
Solar photovoltaics’ installed capacity is steadily expanding. SolarPower Europe estimates that global cumulative solar PV capacity will reach 940 GW by 2021. The solar market’s expansion signals a trend towards distributed and sustainable energy solutions. Furthermore, solar PV capacity is predicted to exceed 2.3 TW during the next three years, an increase of more than 1.4 TW from 2021.
Growing Demand from Adhesives and Coatings
Vinyl acetate is one of the most essential monomers used in adhesive manufacture due to its superior adhesive, fiber-forming, optical and electrical capabilities. It is an important chemical building ingredient used to make industrial and consumer goods. VAM is a precursor utilized in the production of polymers and copolymers for both consumer and industrial applications.
Growing demand for paints and coatings as a result of increased infrastructure spending, particularly in emerging economies in Asia-Pacific and Latin America, is likely to boost the global vinyl acetate monomer market growth during the forecast period. Vinyl acetate ethylene copolymers are ideal for architectural coatings due to their low environmental impact.
Volatility in Raw Material Price and Stringent Regulations
Increasing shale gas exploration and production activities are expected to maintain a steady supply of critical raw materials for VAM production. Crude oil is a primary feedstock for ethylene production, which is then used to produce VAM. Natural gas extracted from shale gas contains a higher percentage of ethane than crude oil for VAM synthesis.
VAM manufacturing is dependent on acetic acid, which is obtained from methanol and acetaldehyde and ethylene, which is derived from crude oil or natural gas. Prices for these raw materials can fluctuate dramatically, affecting VAM manufacturing costs, profit margins and market stability. Stringent regulations in response to growing environmental concerns, as well as variable prices for key raw materials, are expected to continue to be significant obstacles for industry participants.

Segment Analysis
The global vinyl acetate monomer market is segmented based on application, end-user and region.
Rising Demand for Adhesives and Coatings Drives the Segment Growth
Polyvinyl Acetate production is expected to be the fastest growing segment with 1/3rd of the market during the forecast period 2024-2031. PVA is the largest VAM derivative and is widely used in adhesive applications due to its excellent adhesion qualities to a variety of substrates such as wood, paper, metals and plastic films.
PVA is also used extensively in paints and coatings. PVOH is the second-largest VAM consumer made from PVA. PVOH is utilized in a variety of applications including coatings, adhesives and water-soluble packaging. PVAc, developed from PVA, is used to make magnetic wire insulation, safety glass interlayers, wash primers and coatings.
Geographical Penetration
Rising Production of New Energy Vehicles in Asia-Pacific
Asia-Pacific is the dominant region in the global vinyl acetate monomer market covering about 30% of the market. The region is expected to grow rapidly as countries such as China increase their investment in construction and the automobile industry. China is the world’s largest vehicle producer. In accordance to the China Association of Automobile Manufacturing, the country’s output of new energy passenger vehicles increased by 97.8% year on year in December 2022.
Furthermore, the country’s new energy commercial vehicle production increased by 81% year on year in December 2022. Thus, the rising automobile business is likely to boost demand for vinyl acetate in the region. Vinyl acetate is commonly used to make paints, coatings, adhesives and packaging materials. With China being a prominent player in these industries, the demand for vinyl acetate is likely to increase during the forecast period.

Competitive Landscape
The major global players in the market include Celanese Corporation, LyondellBasell Industries, The Dow Chemical Company, DuPont, Kuraray, Ineos, Chang Chun Group, Dairen Chemical Corp, Sinopec and Wacker Chemie.
COVID-19 Impact
The pandemic disrupted several industries, including construction, automotive, packaging and textiles, all of which rely heavily on VAM and its derivatives. The pandemic affected global supply chains, limiting raw material availability, transportation and logistics. Lockdown measures, supply chain interruptions and economic uncertainty caused swings in demand for VAM-based products such adhesives, coatings and polymers.
Changing consumer behavior during the pandemic, like increased demand for e-commerce, home improvement projects and healthcare supplies, had an impact on VAM-based product demand. For example, the spike in online shopping raised the demand for packaging materials, resulting in increasing demand for VAM-based adhesives and coatings used in packaging applications.
Russia-Ukraine War Impact
Geopolitical tensions and war can cause market uncertainty, causing buyers and investors to hesitate. Companies may postpone investment decisions or seek alternate supply sources to reduce geopolitical risks, which could have an influence on global VAM demand. Any production or transportation disruptions caused by a dispute might result to supply shortages and price volatility in the global VAM market.
Furthermore, Russia is a large exporter of natural gas, a critical feedstock for VAM manufacturing. Any disruptions in Russia’s gas supply could have a significant impact on regional VAM output. The conflict causes heightened volatility in energy markets, particularly natural gas and crude oil prices. Natural gas is a significant feedstock for VAM production, so any volatility in energy prices could affect production costs and profitability for VAM companies globally.
By Application

  • Polyvinyl Acetate (PVA) Production
  • Ethylene Vinyl Acetate (EVA) Copolymer Production
  • Vinyl Acetate-Ethylene (VAE) Copolymer Production


By End-User

  • Construction
  • Packaging
  • Automotive
  • Textiles
  • Electronics
  • Others


By Region

  • North America


o U.S.
o Canada
o Mexico

  • Europe


o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe

  • South America


o Brazil
o Argentina
o Rest of South America

  • Asia-Pacific


o China
o India
o Japan
o Australia
o Rest of Asia-Pacific

  • Middle East and Africa


Key Developments

  • In February 2023, Celanese Corporation declared the completion of an ultra-low capital program to repurpose old manufacturing and infrastructure assets to increase ethylene vinyl acetate capacity at its Edmonton, Alberta, facility. The development will greatly increase Acetyl Chain’s downstream vinyl offering.
  • In December 2022, Showa Denko K.K. has announced that it would license its technology for making vinyl acetate monomer to Asian Paints Limited as part of a formal cooperation agreement between SDK and KBR, a global engineering and technology solutions firm headquartered in U.S. Furthermore, SDK will provide catalysts for Asian Paints’ VAM manufacture.
  • In November 2021, Celanese Corporation has partnered with Mitsubishi Chemical Advanced Materials. The relationship enabled both organizations to collaborate together to convert waste streams into saleable and end-product formulations, providing clients with more sustainable options to minimize carbon emissions.


Why Purchase the Report?

  • To visualize the global vinyl acetate monomer market segmentation based on application, end-user and region, as well as understand key commercial assets and players.
  • Identify commercial opportunities by analyzing trends and co-development.
  • Excel data sheet with numerous data points of vinyl acetate monomer market-level with all segments.
  • PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
  • Product mapping available as excel consisting of key products of all the major players.


The global vinyl acetate monomer market report would provide approximately 54 tables, 45 figures and 184 pages.
Target Audience 2024

  • Manufacturers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies