India Vinyl Acetate Monomer (VAM) Market
India Vinyl Acetate Monomer (VAM) Market Size Set to Grow at Steady Rate to Reach USD 411.6 Million by 2029
Published | 31 May 2023
India vinyl acetate monomer (VAM) market is rapidly growing due to an increasing demand for adhesives and sealants in various major industries, such as construction, automotive, and packaging.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India vinyl acetate monomer (VAM) market size at USD 283.24 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India vinyl acetate monomer (VAM) market size to grow at a CAGR of 5.64% reaching a value of USD 411.57 million by 2029. In recent years, the India vinyl acetate monomer market has witnessed a few key trends. Growing demand for VAM in the construction sector is one notable trend, driven by infrastructure expansion and urbanization. VAM is commonly employed in the manufacture of adhesives, coatings, and paints, all of which are widely used in the construction sector. Another noteworthy trend is the growing preference for environmentally friendly and sustainable products, which has led to an increase in the use of bio-based VAMs obtained from renewable sources. Also, the market is undergoing technological developments, such as the development of high-performance VAM grades and novel production processes, to improve product quality and efficiency. These developments are influencing the growth of the India vinyl acetate monomer market.
India Vinyl Acetate Monomer (VAM) Market – Overview
The chemical molecule known as vinyl acetate monomer (VAM) has the molecular formula C4H6O2. It is a colorless liquid with a sweet, fruity smell that is quite combustible. Polyvinyl acetate (PVA), which is widely used in adhesives, coatings, and paints, is produced using VAM as a key raw ingredient. It is also a crucial component in the production of vinyl-based polymers including vinyl acetate-ethylene (VAE) copolymers and polyvinyl alcohol (PVOH). VAM is created when acetic acid and ethylene mix, and due to its adaptability, it is a valuable component in many industrial applications.
Impact of COVID-19 on India Vinyl Acetate Monomer (VAM) Market
The COVID-19 pandemic significantly impacted the India vinyl acetate monomer market, causing disruptions across the industry. As the virus spread and lockdown measures were implemented, manufacturing activities and supply chains faced unprecedented challenges. The market witnessed a decline in demand due to reduced construction and automotive activities, as well as the temporary closure of numerous manufacturing units. Restrictions on international trade further affected the import and export of vinyl acetate monomer. Also, labor shortages and logistical constraints hindered production and distribution, leading to increased costs and delayed deliveries. While the industry is gradually recovering, the COVID-19 pandemic has undoubtedly left a lasting impact on the India vinyl acetate monomer market.
India Vinyl Acetate Monomer (VAM) Market – By Application
On the basis of application, India vinyl acetate monomer (VAM) market is divided into Polyvinyl Alcohol, Polyvinyl Acetate, Ethylene-Vinyl Acetate, and Ethylene-Vinyl Alcohol segments. The Polyvinyl Acetate (PVA) segment is the largest application segment in India vinyl acetate monomer (VAM) market. PVA is a versatile polymer widely used in various industries, such as adhesives, paints, coatings, and textiles. Its excellent adhesive properties, water resistance, and film-forming characteristics make it a preferred choice in many applications. Also, PVA is known for its biodegradability and non-toxic nature, further increasing its popularity. The demand for PVA in India is driven by the construction sector, the packaging industry, and the growing awareness of environmentally friendly materials. Thus, the PVA segment holds a significant share of the India VAM market.
India vinyl acetate monomer market is fiercely competitive. Major companies in the market include Celanese Corporation, LyondellBasell Industries, The Dow Chemical Company, DuPont, Kuraray, Ineos, Chang Chun Group, Dairen Chemical Corp, Sinopec, and Sipchem. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in India vinyl acetate monomer market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Vinyl Acetate Monomer (VAM) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Vinyl Acetate Monomer (VAM) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- India Vinyl Acetate Monomer (VAM) Market - By Application (Polyvinyl Alcohol, Polyvinyl Acetate, Ethylene-Vinyl Acetate, Ethylene-Vinyl Alcohol); By End-user Industry (Packaging, Construction, Textile, Cosmetics); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: May 2023
An increasing demand from the construction and automotive industries, growing population and urbanization, rising disposable income, expanding packaging sector, and government initiatives to promote infrastructure development and foreign investments are propelling the growth of India Vinyl Acetate Monomer (VAM) Market during the forecast period between 2023 and 2029.
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