The vinyl acetate monomer market was valued at US$ 7,628.97 million in 2021 and is projected to reach US$ 10,882.28 million by 2028; it is expected to grow at a CAGR of 5.2%from 2021 to 2028.

Vinyl acetate monomer (VAM) is an important intermediate used to make a number of polymers and resins. There is a high demand for vinyl acetate monomers from various end-use industries such as construction, packaging, and textile. Moreover, there is increasing use of ethylene-vinyl acetate for encapsulating solar panels. This is creating the demand for ethylene-vinyl acetate, thereby boosting the growth of the vinyl acetate monomer market.

Based on application, the global vinyl acetate monomer market is segmented into polyvinyl acetate (PVA), polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), and others. The polyvinyl acetate segment held the largest share of the global vinyl acetate monomer market in 2020. Polyvinyl acetate homopolymers are used in paper and paperboard coatings, construction products, carpet backing, paints and industrial coatings, and engineered fabrics. There is an increase in the use of polyvinyl acetate in paints, adhesives, paper coatings, and textile treatments. This, in turn, is creating the demand for vinyl acetate monomers.

In 2020, Asia Pacific held the largest revenue share of the global vinyl acetate monomer market. The rise in urbanization and the robust growth of the construction sectors in various countries of APAC offer ample opportunities for the players in the vinyl acetate monomer market. Moreover, the building & construction industry, primarily in China and India, is a strong contributor to the market's growth in the region. For instance, in India, the construction industry is the second largest industry after agriculture, accounting for about 11% of the country's GDP. With the growing application of vinyl acetate monomers and their derivatives in numerous verticals, along with the efforts undertaken by leading chemical companies, the vinyl acetate monomer market is predicted to grow in the region.

The key market players in the global vinyl acetate monomer market include Celanese Corporation, Chang Chun Group, China Petroleum & Chemical Corporation, Dairen Chemical Corporation, Japan VAM & POVAL Co. Ltd., LyondellBasell Industries Holdings B.V., Sipchem, Solventis, The Dow Chemical Company, and Wacker Chemie AG. Players operating in the market are highly focused on developing high-quality and innovative product offerings to fulfill the customer's requirements.

The size of the overall global vinyl acetate monomer market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the vinyl acetate monomer market.