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Vinyl Acetate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Vinyl Acetate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market for vinyl acetate is anticipated to register a CAGR of more than 4% during the forecast period. The increasing use of vinyl acetate products in the solar power-generation industry is also likely to stimulate market growth.

- Increased use of adhesives in food packaging and growing use in solar power generation are augmenting the growth of the market.
- Stringent health and environmental regulations and fluctuating prices of raw materials are likely to hinder the market’s growth.
- The use of EVA for 3D printed medical drug delivery devices is projected to act as an opportunity for the market in the future.

Key Market Trends

Increasing Demand from the Solar End-user Industry

- Ethylene vinyl acetate (EVA) is used for the encapsulation of photovoltaic (PV) modules in the majority of solar cells, due to the advantages, such as good light transmittance and elasticity, excellent melt fluidity, low processing temperature, and adhesive property.
- The use of solar cells has constantly been increasing worldwide. With increasing government support, the new installation capacity of solar photovoltaic cells is increasing rapidly around the world from the past decade.
- Solar power industry is one of the fastest growing industries in the world. According to International Energy Agency (IEA), this industry accounts for almost two-thirds of net power capacity worldwide. The value of solar power was estimated USD 86 billion in year 2015 and is projected to reach USD 422 billion by year 2022.
- The United States is the second-largest PV market after China. According to Solar Energy Industries Association (SEIA), the solar industry generated USD 17 billion investment in the American economy.
- India’s annual Solar PV additions have been doubled, with 9.6GW coming online, due to government’s policy to increase the share of solar power in the country’s energy mix and also due to falling down equipment prices globally.
- Whereas, in Japan solar PV capacity growth slowed down by 12% to 7GW and in European Union, annual PV additions remain stable at below 6GW.
- Therefore, the aforementioned factors are expected to increase the usage of solar energy, in turn, increasing the demand for vinyl acetate during the forecast period.

Asia-Pacific to Dominate the Market

- Asia-Pacific region to witness the robust growth in the vinyl acetate market, owing to the increasing expenditure on construction and automotive industry in countries like China.
- China stands as the largest producer in the automotive and paints & coatings industry. Additionally, it is the largest consumer and producer of adhesives and sealants worldwide.
- As vinyl acetate is widely used in the production of paints and coatings, adhesives, and packaging materials. With China being a major player in these markets, the demand for vinyl acetate is expected to grow during the forecast period.
- The Chinese government has increased public spending on transportation infrastructure. China’s transport ministry and National Development and Reform Commission (NDRC) planned to invest USD 724 billion, for constructing 303 key transportation projects, which include railways, highways, waterways, airports, and urban rail. Such investments are expected to increase construction activities in the country, further creating demand for vinyl acetate-based products.
- Moreover, automotive production in China is also expected to increase during the forecast period, due to increasing demand for SUV’s, lightweight and fuel-efficient vehicles, and popularity of electric vehicles.
- Additionally, China is majorly focusing on increasing the production and sale of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year, by 2020, and 7 million a year by 2025. The target, if achieved, is likely to increase the share of electric vehicles to 20%, of total new car production for China, by 2025.
- Therefore, as vinyl acetate finds varied applications in such end-user industries, in the form of coatings, adhesives, primers, etc., the demand for vinyl acetate is projected to increase in the country during the forecast period.

Competitive Landscape

The vinyl acetate market is a consolidated market among the top players, with the top five accounting for a major chunk of the market. Key players in the vinyl acetate market include Celanese Corporation, China Petrochemical Corporation (Sinopec), Exxon Mobil Corporation, Kuraray Co. Ltd, LyondellBasell Industries Holdings BV, and Sipchem, among others.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Increased Use of Adhesives in Food Packaging
4.1.2 Increasing Use in the Solar Power Generation Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Stringent Health and Environmental Regulations
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5.1 Application
5.1.1 Polyvinyl Acetate
5.1.2 Polyvinyl Alcohol
5.1.3 Ethylene Vinyl Acetate (EVA)
5.1.4 Other Applications
5.2 End-user Industry
5.2.1 Solar
5.2.2 Automotive
5.2.3 Building and Construction
5.2.4 Packaging
5.2.5 Textile
5.2.6 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea ASEAN Countries Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy Russia France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Arkema
6.4.2 Celanese Corporation
6.4.3 China Petrochemical Corporation (Sinopec)
6.4.4 Clariant
6.4.5 Dairen Chemical Corporation
6.4.6 Exxon Mobil Corporation
6.4.7 Ineos
6.4.8 Innospec
6.4.9 Joyce Lub And Chem LLP
6.4.10 Kemipex
6.4.11 LyondellBasell Industries Holdings BV
6.4.12 Sipchem
6.4.13 The Nippon Synthetic Chemical Industry Co. Ltd
6.4.14 Wacker Chemie AG

7.1 Use of EVA for 3D Printed Medical Drug Delivery Devices

Report Title: Vinyl Acetate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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