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Vinyl Acetate Monomer (VAM) Market Analysis by Trends, Future Growth & Forecast till 2024 Key Players: Exxon Mobil, Celanese Corporation, Ineospec Inc, Dow Chemical
Vinyl Acetate Monomer (VAM) Market
Vinyl acetate is an essential raw material for manufacturing polymers such as polyvinyl alcohol and polyvinyl acetate. Polyvinyl acetate has excellent bonding properties which makes it an ideal application for paper coatings while polyvinyl alcohol high tensile strength, flexibility and resistance to grease, solvents and oil makes it suitable application for photosensitive coatings, textiles, packaging, etc. Growing application of vinyl acetate monomer in consumer and industrial products is increasing the demand in several industrial verticals.
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Vinyl Acetate Monomer market will likely surpass USD 10 billion by 2024; according to a new research report. Basic raw material required for manufacturing vinyl acetate monomer is acetic acid and ethylene. There are few technologies used for producing VAM such as gas phase which includes a method of reacting acetic acid, ethylene and oxygen in the presence of silica. Apart from this technology, fluidized bed reactor technology invented by John C. Kayser, is used to produce vinyl acetate monomer that claims better catalyst life.
In the Asia Pacific, food, beverage and the dairy industry is witnessing huge growth from the past few years. High growth is due to rapid urbanization, industrialization, and increasing population. Primarily, demand for the packaged food products is predicted to rise, due to the increasing demand for ready to eat products in all the developing economies of the Asia Pacific.
Along with packaged food products, beverage industry is also growing owing to high consumption of juice and other energy drinks by growing health conscious urban population in this region. According to the World Bank Data, the urban population in the Asia Pacific region is growing at a high rate. As the consumers are preferring healthier drinks, the demand for beverages as well as dairy products is growing. Further, due to the requirements of safe and nutritious healthy drinks the need for packaging is increasing, which will augment demand for vinyl acetate monomer application over the projected timeframe period.
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Packaging segment is escalating at a remarkable pace in recent years and is predicted to grow during the forecat period. Due to shift in consumer eating habitat favoring packaged food products as well as growing number of working population worldwide is driving the packaging segment. Textile and cosmetics industry verticals have shown tremendous growth in past few years due to its excellent propertise such as stiffness and stabilizer respectively.
The potential corporations involved in the Vinyl Acetate Monomer market are:
• LyondellBasell
• Wacker Chemie
• KURARAY CO.
• LTD
• Dow Chemical
• NINGXIA YINGLITE CHEMICAL
• Exxon Mobil
• Celanese Corporation
• Ineospec Inc
• Sinopec Group
• Sipchem
Environmental regulation such as EPA may challenge Vinyl Acetate Monomer market growth due to harmful health hazards of vinyl acetate monomer. Exposure of VAM can cause irritation to respiratory tract, skin and eyes, hence use of protective equipment while practicing with VAM is made mandatory by several government bodies like OSHA, NIOSH, etc.
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