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IN THE NEWSMarch, 2020: PPG Industries, Inc. announced the acquisition of Alpha Coating Technologies, LLC, which is a manufacturer of powder coatings for light industrial applications.
December, 2018: BASF SE will launch new industrial level raw materials for the coatings, paint, and resins at the 2019 European Coatings Show (ECS).
The global vinyl acetate-ethylene (VAE) emulsions market is estimated to grow at a sizeable CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing applications of the polymer, especially in the paint and coatings industry. The growth of the paint and coating industry is bound to drive the market during the forecast period. In fact, it was observed that the global paint and coatings industry valued at an estimated 155 billion dollars in the year 2020. Moreover, growing demand for paints in automotive and construction industry, is further anticipated to boost the market growth. For instance, the revenue share of the global construction industry totaled to approximately USD 6 trillion in 2020, which is expected to reach over USD 14.5 trillion in 2030. On the other hand, the global automotive manufacturing industry sized at about USD 2.5 trillion in 2021. Such factors are estimated to boost the market growth.
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Vinyl acetate ethylene emulsions are manufactured through the copolymerization of vinyl acetate and ethylene, where content of vinyl acetate can range between 60 to 90% and content of ethylene can range between 10 to 40%. Moreover, VAE emulsions generally have water as their main component.
The market is segmented by application into paints & coatings, sealants, re-dispersible powders, textiles and nonwoven, and others, out of which, the paints & coatings segment is anticipated to hold a substantial share in the global vinyl acetate-ethylene (VAE) emulsions market over the forecast period on account of growing use of paints in the automotive and construction industries. Moreover, growing demand for water-based paints amongst the consumers, is anticipated to boost the segment growth.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Geographically, the global vinyl acetate-ethylene (VAE) emulsions market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of blooming chemical manufacturing industry in the region. For instance, the chemical industry in Asia accounted for more than 55% share of the revenue generated by the global chemical industry. Furthermore, growing construction industry in China, India, and other developing countries in the APAC region is also expected to fuel the market growth.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing consumption of paint and coating amongst the growing automotive and construction industry. For instance, the U.S. construction sector generated a revenue of around USD 1.3 trillion in 2020.
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The global vinyl acetate-ethylene (VAE) emulsions market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global vinyl acetate-ethylene (VAE) emulsions market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The growing application of VAE emulsions in the paint & coatings industry is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
The major players in the market are BASF SE, Eastman Chemical Company, The Dow Chemical Company, KH Neochem Co., Ltd., Saudi Basic Industries Corporation, OQ Chemicals GmbH, Solventis Ltd., and Galaxy Surfactants Limited.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The paints & coatings segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
Increasing adoption of green buildings is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing construction industry in the region.
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