Prismane Consulting Estimates Global Vinyl Acetate Monomer (VAM) Market to Surpass $17 Billion by 2032
PUNE, India, Nov. 8, 2023 /PRNewswire/ -- Prismane Consulting is pleased to announce the release of its latest report and integrated market model, titled "Global Vinyl Acetate Monomer (VAM) Market, 2016-2032." This comprehensive market analysis delves into the Vinyl Acetate Monomer landscape, exploring its supply-demand dynamics and consumption patterns. The report provides a thorough overview of the global Vinyl Acetate Monomer market and its derivatives, with a specific focus on key countries and their respective demands across various application industries.
Within the report, you will find coverage of Vinyl Acetate Monomer applications such as Polyvinyl Acetate (PVAc), Ethylene-Vinyl Acetate Copolymers (EVA), Vinyl Acetate-Ethylene Copolymers (VAE), Polyvinyl alcohol (PVOH), Ethylene vinyl Alcohol resins (EVOH), and other relevant applications. Additionally, the report offers market data for Vinyl Acetate Monomer, both in terms of volume and value, segmented by application at both the country and regional levels.
The study encompasses vital elements, including macroeconomic factors like population, GDP, and global economic interconnections, economic and energy projections, industry and policy developments, insights into end-user segments and application markets, in-depth rationale and evaluation, informative commentary, comparative assessments, current trends, market dynamics, raw material analysis, raw material sourcing strategies, price margins, strategic insights, recommendations, and an assessment of potential business opportunities
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Vinyl Acetate Monomer (VAM), a colourless organic compound, is currently experiencing significant growth. VAM plays a vital role in the production of Polyvinyl Alcohol (PVOH) and Ethylene Vinyl Alcohol (EVOH). In 2022, the global VAM market reached an estimated 7,200 kilotons, which is further projected to reach 9,500 kilotons, witnessing a CAGR of 3.5% between 2023 to 2032.
Global VAM Capacity Trends and Regional Dominance
In 2022, global VAM capacity reached 8,545 kilotons, with the Asia-Pacific region leading at 68%, followed by North America at 21%, Western Europe at 5%, and Central & Eastern Europe and the Middle East & Africa together at nearly 6%. Projections suggest an increase of 2,175 kilotons in global VAM capacity, aiming for a total nameplate capacity of around 11,000 kilotons by 2032.
Meanwhile, global VAM demand in 2022 stood at approximately 7,200 kilotons, with capacity utilization rates hovering around 84%. Asia-Pacific leads in VAM demand, with China accounting for over 42% of global demand and serving as a net exporter with an annual average net export of 275 kilotons. Western Europe and CEE's combined demand parallels North America, totalling over 1,000 kilotons. Notably, Germany stood as the exclusive VAM producer in Western Europe following the closure of the Celanese Tarragona plant in Spain and the Ineos Hull plant in the UK in late 2013. The decision to shutter these facilities was driven by a preference for integrated production facilities, offering substantial economies of scale.
Building & Construction and Packaging driving VAM market growth
PVAc constituted a significant 60% of the total VAM demand, with PVOH and EVA accounting for 12% each. VAE closely trailed EVA at 11%, and consumption in EVOH and other applications collectively amounted to around 4%. The growing demand for VAM is primarily driven by end-use industries. VAM serves as a critical raw material for various polymers and resins used in adhesives, packaging films, laminated safety glass for automobiles and buildings, among others. The increasing demand for adhesives in construction, furniture, and various sectors contributes to market growth. VAM also plays a crucial role in the production of polyvinyl butyral (PVB), used in laminated glass due to its shatter resistance, strength, and soundproofing properties. The growth in end-use industries such as construction, packaging, textiles, paints, coatings, and automotive fuels the demand for vinyl acetate monomer.
Surging VAM Capacity: Paving the Path for Growth
In early 2023, INEOS and LOTTE announced plans to expand VAM production capacity from 450 kilotons to 700 kilotons by adding a third VAM plant in Ulsan, South Korea, with expectations for completion by the end of 2025. Moreover, India is poised to influence regional market dynamics with Reliance Industries' planned petrochemical complex in Jamnagar. This complex, pending environmental clearance, will establish a comprehensive VAM supply chain, featuring a total production capacity of 3,000 kilotons of acetic acid, 1,050 kilotons of VAM, 150 tons of PVOH, 900 kilotons of VAE, 500 kilotons of EVA, 1,500 kilotons of ethyl acetate, 300 kilotons of PVAc, and other C1 to C8 products. Reliance has already expanded its ethylene production to accommodate this large-scale expansion. Additionally, Asian Paints is taking steps toward backward integration, planning a 100 kilotons VAM unit in Dahej by 2026 to support its own consumption in the 150 kilotons VAE plant.
Celanese Leads the Way in VAM Market
As of 2022, Celanese stood out as the world's largest VAM producer, with a presence in four countries across three continents and an installed capacity of over 1,565 kilotons, securing a substantial market share of 18%. In the second position, Sinopec contributed over 13% of the global capacity, while Dairen Chemicals and Kuraray collectively held a noteworthy 18% of the market share. Celanese, maintaining its status as the leading VAM producer, boasted a global capacity of approximately 1,565 kilotons in 2021. The company is also known for producing Ethylene Vinyl Acetate (EVA) under the brand name Ateva and has plans to enhance its VAM capacity from 300 kilotons to 400 kilotons in Nanjing, China, with the objective of fortifying its global acetyls business.
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Report Inclusions
- Demand-Supply Analysis
- Demand Composition, by Application
- Capacity & Production
- Trade (Import, Export and Net Export)
- Sales & Revenue
- Pricing Analysis
- Market Dynamics
For more information about VAM and Acetic Acid Value Chain Integrated Market Models, please visit www.prismaneconsulting.com or contact our dedicated team at sales@prismaneconsulting.com
Check out more Related publications from Prismane Consulting:
Global Acetic Acid Market, Demand & Forecast Analysis, 2016-2032
Global Polyvinyl Alcohol (PVA) Market, Demand & Forecast Analysis, 2016-2032
Global Polyvinyl Butyral (PVB) Market Demand & Forecast Analysis, 2016-2032
Global Ethylene Vinyl Acetate Market Demand & Forecast Analysis, 2016-2032
Global Ethylene Vinyl Alcohol (EVOH) Market Demand & Forecast Analysis, 2016-2032
About Prismane Consulting:
Prismane Consulting is a unique global research & consulting firm serving businesses in the field of Chemicals, Energy and Environment offering in-depth technical & strategy reports and consulting services. Our Strategy and Market study reports cover information on complete value chains, supply- demand analysis, trade, supplier profiles, target markets, business opportunity assessments, new technologies and emerging trends. These studies analyse historical trends and future prospects like major areas of growth, investments, profitability, and other emerging opportunities for companies. Special features in the strategy reports include variation in product pricing resulting from change in feedstock, raw material, input, and other associated costs. Our methods of research and analysis can be made to tailor fit any research or consulting requirements to improve performance & services. To know more about our services contact us on info@prismaneconsulting.com
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