Vinyl Acetate Monomer Market To Witness Significant Growth Owing To Enahanced Applications in Solar Power Sector Till 2020 | Million Insights
FELTON, California, April 30, 2018 /PRNewswire/ --
The global Vinyl Acetate Monomer (VAM) Market is anticipated to reach USD 9.86 billion by 2020. Global vinyl acetate monomer market demand is expected to witness significant growth on account of its widening application base in solar power sector. Key factors expected to drive global industry include high demand from packaging, solar energy and footwear industries. Vinyl acetate (VA) is monomers derived from ethylene and acetic acid. Their usage in the formation of copolymers results in products which have softness similar to rubber and high flexibility. They are known to be good elastomers having both viscosity and elasticity. The product as wide industrial applications and compete with rubber and vinyl products. Extensive VA use in the field of packaging and energy sector drives the global demand over the forecast period.
Films made up of this organic compound find wide applications in meat, poultry and sea food products packaging. These films offer stronger and thinner packaging which results in keeping food products fresh by eradicating puncture and package failures and therefore helps in increasing customer satisfaction levels. Polymeric sheets made up of vinyl acetate are used for encapsulation of solar cells. It is one of the major steps in fabrication of photovoltaic modules which makes the market for vinyl acetate highly lucrative.
Developments in solar energy sector are expected to further drive vinyl acetate demand over the forecast period. Solar power is a clean source of energy and is being highly implemented in developed countries including US, UK and France. Emerging economies have also realized its use and have started setting up solar panels to meet ever growing demand for energy. Such initiatives to increase renewable energy use are expected to positively impact overall industry demand in the future. Other applications include footwear industry where the need to provide comfort and safety to the consumers drives the usage. These monomers provide toughness and are crack resistance. They are majorly used as shock absorbers in footwear products. Vinyl acetate resins meet the electrical appliances need on account of their high heat resistance and stress cracking, therefore making them favorites for wire and cable insulation. Low cost substitute's availability which includes rubber and plastic are expected to provide stiff competition over the foreseeable future.
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Manufacturers are expected to focus on continuous product development through research and innovation. New polyvinyl acetates in near future are expected to hamper the growth over the forecast period. Manufacturers are expected to observe huge opportunities in North America and Asia on account of ever growing packaged food industry. Companies indulged in other poly vinyl acetates business have better scope of entering into the market on account of well-established marketing channels and manufacturing setup. The copolymers formed with the help of vinyl acetate should be handled with care during the manufacturing process on account of its flammability and volatility. Vinyl acetate vapors are heavier than air and particles tend to travel some distance before settling in low areas. Therefore, stringent practices are observed in its manufacturing to prevent environmental hazards.
Industries are capital intensive for establishing closed and controlled processes. Workers handling VA need to be trained on safety measures mentioned in material safety data sheet. All wastes should be disposed in compliance with the federal, EU or local governing rules and regulations. Vinyl Acetate is not generally sold in consumer market but are a part of consumer applications. They are traded in business markets. There lies an opportunity for the manufacturers to establish proper sales channel to cater to untapped customers. Maintaining supplier buyer relation plays a major role in developing prolonged sales and efficient inventory management. Proper care should be taken during transportation resulting in need of proper containers and storage facilities. Vinyl acetate council is a non-profit body representing vinyl acetate monomer manufacturers in North America. It provides guidelines for safe and environmental friendly manufacturing processes. It monitors and participates in government proceedings for continued use with safety measures. Similarly, European chemistry industrial council is a governing body looking after vinyl acetate manufacturing functions.
The VA monomer is segmented on the basis of application usage which includes food packaging, energy sector, footwear and electrical cabling. Asia Pacific is the largest market in terms of demand on account of high usage in food packaging. Emerging economies including India and China are focusing on clean energy which should lead to an increase in demand in these regions. Regional demand is followed by North America and Europe on account of advanced solar energy sectors. Lack of suitable power infrastructure in South America and Africa are expected to show a slow growth in this region. Key players in the market are Dow Chemical Company, LyondellBasell Industries, ExxonMobil Corp and E.I. du Pont de Nemours. Companies focus on promoting vinyl acetate for multiple uses across industries and look out for new applications. Therefore, apart from the conventional use, this organic compound has found applications in healthcare, agriculture and construction.
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Global Vinyl Acetate Monomer (VAM) Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Polyvinyl Acetate
• Polyvinyl Alcohol
• Ethylene Vinyl Acetate
• Ethylene Vinyl Alcohol
• Others
Global Vinyl Acetate Monomer (VAM) Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
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