Global vinyl acetate market, as an overall, it is projected to reach approximately 7,175 thousand tons by the end of 2023, increasing at a CAGR of around 2-3% per year in the period 2017-2023.
The report focuses on both product and regional breakdown, offering a larger perspective on the market dynamics. Although vinyl acetate is predominantly used as a monomer in the production of polyvinyl acetate and polyvinyl alcohol, the analysis considers the application of vinyl acetate across various other fields. In particular, the largest share of vinyl acetate consumption is for the production of polyvinyl acetate, which accounted for around 46% of the total in volume terms.
Meanwhile, the chemical's application for EVA copolymers has been growing with the highest rate of about 5.77% per year. Regionally, the largest global vinyl acetate market was North East Asia, which accounted for about 40% of the total in volume terms. In comparison, the CIS countries were the smallest global vinyl acetate market during the analyzed period and are expected to remain such in the medium term.
Vinyl acetate is highly dependent on the development of end-use markets such as construction sector, automotive manufacturing, furniture production, paints and coatings industry, and others. Another important trend on the global vinyl acetate market is linked with the emerging application of its derivatives in the solar power generation industry. In particular, the EVA based films serve as effective moisture barriers and have electrical insulation properties.
Another main trend on the market is connected with the growing demand for lighter weight packaging. In fact, polyvinyl acetate coating binders provide stiffness, which gives paperboard manufacturers an opportunity to reduce basis weight without hurting a carton's primary function namely product protection. In addition, due to the good performance of EVA foam, it is typically used for the production of shoe cushions. Therefore, the increasing demand for sports shoes has been positively influencing the overall vinyl acetate market over the past few years.
Regionally, there has been certain interest from some companies to build ethyl vinyl acetate plants, driven by the strong demand for High Pressure technology based advanced materials in China, which, in turn, are driven by the solar, wire & cable and other specialty applications. One of the recent changes on the North American market is linked with Celanese, which lifted US vinyl acetate force majeure declared after the Hurricane Harvey. Furthermore, in May 2018, the company also announced its plans to expand the production capacity of acetic acid and vinyl acetate monomer.
Nitchen Chemicals is a professional researcher & Manufacturer of Polyvinyl Acetate PVAC solid resin for SMC/BMC, Pultrusion, Adhesives, Gumbase...Read More