The growth of the vinyl acetate monomer market is attributed to the rising investment in infrastructure and building activities, says this report.
Press Release – updated: Sep 9, 2020 04:00 EDT
SELBYVILLE, Del., September 9, 2020 (Newswire.com) – Based on Global Market Insights Inc.’s report, the vinyl acetate monomer (VAM) market was estimated at $8.97 billion in 2019 and is slated to exceed $10.19 billion by 2026, registering a CAGR of 4.2% from 2020 to 2026. The report provides a detailed analysis of the drivers and opportunities, market estimations as well as size, wavering industry trends, competitive scenarios, major winning strategies, and key investment avenues.
Infrastructure development is a key aspect of a nation’s long-run economic development. It improves competitiveness by promoting innovation, facilitating trade, boosting productivity, and technological efficiency. Over the past few years, there has been an immense rise in urban areas since more people are shifting from the countryside into cities in search of better living and work. Several countries in the Asia-Pacific region are rapidly growing, with the UN evaluating urban rates from Southeast Asia expected to reach nearly 64% in 2050, in comparison to 47% in 2014.
Rapid urbanization across the Asia-Pacific region will have a highly positive impact on the regional construction industry. For example, the Thailand government recently unveiled a novel way for private sector financing through the TFF (Thailand Future Fund). Today, increasing private resources such as PPP (Public-Private Partnership), have been enticing strong interest from governments across the Asia-Pacific region, facilitating revenue growth.
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In terms of application, the EVA application segment is expected to grow at a modest CAGR and is likely to hold nearly a 12% demand share by the end of the analysis timeline. The growth is slated to come from the expanding global packaging infrastructure. Various product attributes such as high tensile elongation, stress-crack resistance, and extra toughness further make the polymer one of the best choices in the packaging industry. Additionally, rising opportunities in the application of EVA resins in electrical, automotive, photovoltaic panels, and footwear industries will also support the vinyl acetate monomer market share.
Key reasons for vinyl acetate monomer market growth:
- Rapidly growing construction industry.
- Increasing adoption of polyvinyl acetate in construction, wood, and architectural coatings.
- Rising pharmaceutical industry across Latin America.
2026 forecasts anticipate the “packaging” end-use segment showing appreciative growth:
The packaging end-use segment is likely to be valued at approximately $2.12 billion by the end of the analysis timeline. Rising trends of eco-friendly packaging, which is easy to recycle and reuse, will drive the cosmetics, pharmaceutical, and F&B packaging industries. Moreover, the fast growth of exports and e-commerce, rapidly growing organized retail, and a growing middle-class population will further boost the vinyl acetate monomer market growth.
Latin America and North America to witness remunerative growth:
The Latin America VAM market is likely to grow at a stable growth of nearly 3.9% CAGR over the forecast timeframe. The LATAM pharmaceutical industry is largely growing owing to the increasing number of deaths caused by non-communicable diseases, the aging population, and the manufacture of generic drugs. This is further driven by the expiry of several patents over the last couple of years. In fact, the Latin American pharmaceutical market has invested approximately $12.7 billion through M&A in recent years, which is expected to increase by the end of the analysis timeline. With such a rapidly expanding pharmaceutical industry, the demand for vinyl acetate monomer will also spur.
North America is likely to account for nearly a 21% market share by the end of the analysis time period. Robust research and development activities by prominent pharmaceutical manufacturers across the U.S towards the innovation and development of novel medicines are likely to play a key role in the strong growth parameters observed in the vinyl acetate monomer market.
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Leading market players:
Prominent market players analyzed in the vinyl acetate monomer industry report include Lotte BP Chemical Co, Sinopec Group, Wacker Chemie, Dairen Chemical Corporation, Japan VAM & Poval Co., Lyondellbasell Industries, Solventis, Kuraray Co., Celanese Corporation, Sinopec Group, Dow Chemical Company, Sipchem, and Chang Chun Group among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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Source: Global Market Insights Inc.