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Vinyl Acetate Ethylene (VAE) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 150 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5764049
The global vinyl acetate-ethylene (VAE) market is anticipated to register a CAGR of over 4% during the forecast period. COVID-19 negatively affected the VAE market as the construction sector was completely disrupted. Currently, the VAE market has recovered from the pandemic and is growing at a significant rate.

Over the short term, the market has been driven by the increase in demand from the construction industry. However, it is estimated that the demand for vinyl acetate-ethylene (VAE) will decrease shortly due to fluctuations in raw material prices, which are expected to hamper the global vinyl acetate-ethylene (VAE) market growth over the forecast period. Nevertheless, the growing demand from the packaging industry is expected to provide ample growth opportunities in the future. It is likely to create lucrative opportunities for the market over the forecast period. Asia-Pacific is expected to dominate the global market during the forecast period, with the highest market share in the global vinyl acetate-ethylene (VAE) market.

Vinyl Acetate Ethylene (VAE) Market Trends

Blooming Demand in the Adhesives segment

  • Vinyl acetate-ethylene (VAE) can be formed into adhesives for a range of applications, including paper and packaging (food packaging, envelope production, film lamination onto paper), wood (film lamination onto wood, 3D membrane pressing, EPI systems), and flooring (textile flooring, flexible coverings), among others.
  • VAE adhesives have processing qualities comparable to PVA'c but bind better to non-porous surfaces, such as coatings, plastic laminates, vinyl, metals, glass, aluminum, and others.
  • Copolymeric adhesives based on VAE also provide a more flexible adhesive sheet, higher water resistance, and superior processing qualities. VAE adhesives provide great temperature resistance, plasticizers, and strong adherence to a variety of supports.
  • The expansion of e-commerce and retail sales is predicted to enhance the demand for VAE-based adhesives. These adhesives are also utilized in packaging, woodworking, furniture, and automotive applications.
  • According to a report published by Packaging Machinery Manufacturers Institute (PMMI), an association for packaging and processing technologies, growth in the global packaging industry reached USD 42.2 billion in 2021, up from USD 36.8 billion in 2016, owing to the rising population, growing sustainability concerns, increased spending power in developing regions, rising demand for smart packaging, and other factors.
  • The domestic or home market and the commercial or office market are the primary sources of demand for the furniture industry. Furthermore, wood accounted for around 65% of all furniture markets in India.
  • China is the world's second-largest user of wood. According to the China Association of Forest Products Industry, the country's wood consumption surged by more than 170% during the last decade.
  • Furthermore, commercial construction is the second-largest value supplier for the overall construction industry in the United Kingdom, accounting for nearly 25% of the market share when repair and maintenance are factored in. The rise in wood interior design in office spaces is a major component driving the demand in the market .
  • All the aforementioned factors are expected to drive the furniture industry, which may also impact the demand for VAE-based adhesives during the forecast period.

China to Dominate the Asia-Pacific Region

  • China dominates the Vinyl Acetate Ethylene (VAE) market in terms of market share and market revenue. The region is set to continue to flourish in its dominance over the forecast period.
  • According to European Coatings, China is home to almost 10,000 coatings manufacturers. The majority of the world's leading coating manufacturers, including Nippon Paint, AkzoNobel, Chugoku Marine Paints, PPG Industries, BAF SE, and Axalta Coatings, have manufacturing facilities in China. Paint and coatings manufacturers have increased their investments in the country.
  • The demand for vinyl acetate-ethylene is expected to rise over the projected period because of the rising demand from the construction, packaging, textile, and other end-user sectors.
  • Currently, the construction industry is flourishing in China. The country is the world's largest construction market, accounting for 20% of all global construction investments. By 2030, the country will have spent approximately USD 13 trillion on construction.
  • According to the National Bureau of Statistics of China, construction output in China was worth approximately CNY 29.31 trillion in 2021. As a result, it has generated significant demand for the market under consideration.
  • The country's expansion has been fueled by numerous developments in the residential and commercial construction sectors, which have been aided by the expanding economy. In China, the Hong Kong housing authorities launched several initiatives to begin the construction of low-cost housing. Officials hope to build 301,000 public housing units over the next ten years, until 2030.
  • According to the National Bureau of Statistics of China, the amount of textile output in China was 12.4 billion meters in the first four months of 2022, up from 11.8 billion meters at the same time in the previous year.
  • Furthermore, the Chinese government envisions Xinjiang as a 'hotbed' for textile and clothing manufacturing and has spent USD 8 billion in the region. By 2030, it is expected that China's northwest region will have become the country's most extensive textile production base .
  • Thus, all the above-mentioned factors are likely to boost the demand for the vinyl acetate-ethylene market during the forecast period.

Vinyl Acetate Ethylene (VAE) Market Competitor Analysis

The Global Vinyl Acetate Ethylene (VAE) market is fragmented in nature. Some of the major manufacturers in the market include DCC, SINOPEC, Wacker Chemie AG, Gantrade Corporation, and VINAVIL SpA, among others (in no particular order).

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  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Increase in Demand from the Construction Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Fluctuations in Raw Material Prices
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 Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5.1 By Applications
5.1.1 Paints and Coatings
5.1.2 Adhesives
5.1.3 Construction Additives
5.1.4 Textiles
5.1.5 Other Applications
5.2 By Geography
5.2.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.2.2 North America United States Canada Mexico
5.2.3 Europe Germany United Kingdom Italy France Rest of Europe
5.2.4 South America Brazil Argentina Rest of South America
5.2.5 Middle East and Africa Saudi Arabia South Africa Rest of Middle East and Africa

6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Rank Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Celanese Corporation
6.4.2 Cheng Lung Chemical Co. Ltd
6.4.3 DCC
6.4.4 Gantrade Corporation
6.4.5 Hope Way Chemical Industrial Co. Ltd
6.4.6 Parkash Group
6.4.7 Shaanxi Xutai Technology Co. Ltd
6.4.10 Wacker Chemie AG

7.1 Growing Demand from the Packaging Industry will Provide Ample Growth Opportunities in the Future

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Celanese Corporation
  • Cheng Lung Chemical Co. Ltd
  • DCC
  • Gantrade Corporation
  • Hope Way Chemical Industrial Co. Ltd
  • Parkash Group
  • Shaanxi Xutai Technology Co. Ltd
  • Wacker Chemie AG