Growing construction activities in emerging economies: Rapid infrastructural development and construction projects in developing countries such as India, China, Indonesia are fueling the demand for vinyl acetate monomer.
Growing Demand From Construction Industry Drives Growth of Vinyl Acetate Monomer Market
Vinyl acetate monomer is an organic compound that is widely used in different end-user applications such as paints & coatings, adhesives & sealants, and textiles among others. It imparts good adhesion, flexibility, and transparency properties to various products. Rapid urbanization along with growth of the construction industry globally has boosted the demand for adhesives, paints, and other construction-related products containing vinyl acetate monomer.
The global vinyl acetate monomer market is estimated to be valued at US$ 9.35 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
Growing construction activities in emerging economies: Rapid infrastructural development and construction projects in developing countries such as India, China, Indonesia are fueling the demand for vinyl acetate monomer. It finds wide application in various construction materials including tiles, flooring, sealants, and paints. Additionally, growing residential and commercial building projects are further augmenting the market growth.
Segment Analysis
The global vinyl acetate monomer market is dominated by the polyvinyl alcohol (PVA) segment. PVA accounted for over 40% share of the overall market in 2022 primarily due to increasing usage in various end-use industries like textile, paper, construction and coatings. It has strong binding and film forming properties which make it suitable for applications requiring flexibility, durability and adhesion.
Key Takeaways
The global vinyl acetate monomer market is expected to witness high growth over the forecast period till 2030 supported by rising demand from the construction industry across regions. The global vinyl acetate monomer market is estimated to be valued at US$ 9.35 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
Regional analysis related content comprises Asia Pacific dominates the global market accounting for more than 35% share in 2022, led by strong demand from China, India and other ASEAN countries. Growth in the region will be driven by rapid urbanization and infrastructure development.
Key players related content comprises Key players operating in the vinyl acetate monomer market are Celanese Corporation, Dairen Chemical Corporation, Japan VINYL ACETATE MONOMER & POVAL Co. Ltd., Kuraray Co. Ltd., LyondellBasell Industries, Ningxia Yinglite Chemical Co., Ltd., China Petroleum & Chemical Corporation (Sinopec Corp.), The Dow Chemical Company, and Wacker Chemie AG.
For More details on the topic:
https://www.marketwebjournal.com/vinyl-acetate-monomer-market-trends-size-and-share-analysis/
Check more trending articles related to this topic:
Comments
0 comment