Vinyl Acetate Polymers in Aqueous Dispersion in Primary Forms Market

The article discusses the projected growth in consumption and value of polymers of vinyl acetate in aqueous dispersion in primary forms globally from 2022 to 2030, with a forecasted CAGR of +1.2% and +3.5% respectively. Key insights include the decline in production volumes in 2022, fluctuations in import and export figures, and the prominent roles of China, the United States, and India in consumption and value. The data also highlights the average annual rates of growth in various countries and the trends in per capita consumption. Overall, the article provides a comprehensive overview of the market dynamics and trends for polymers of vinyl acetate in aqueous dispersion in primary forms.

Market Forecast

Driven by increasing demand for polymers of vinyl acetate in aqueous dispersion in primary forms worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 5.5M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.5% for the period from 2022 to 2030, which is projected to bring the market value to $7.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Polymers of Vinyl Acetate in Aqueous Dispersion in Primary Forms

In 2022, after three years of growth, there was decline in consumption of polymers of vinyl acetate in aqueous dispersion in primary forms, when its volume decreased by -0.6% to 5M tons. The total consumption volume increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 8.1%. Over the period under review, global consumption of attained the peak volume at 5M tons in 2021, and then shrank modestly in the following year.

The value of the market for polymers of vinyl acetate in aqueous dispersion in primary forms worldwide shrank slightly to $5.9B in 2022, approximately reflecting the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 8.7%. As a result, consumption reached the peak level of $5.9B, leveling off in the following year.

Consumption By Country

China (1.2M tons) constituted the country with the largest volume of consumption of polymers of vinyl acetate in aqueous dispersion in primary forms, accounting for 24% of total volume. Moreover, consumption of polymers of vinyl acetate in aqueous dispersion in primary forms in China exceeded the figures recorded by the second-largest consumer, the United States (523K tons), twofold. India (503K tons) ranked third in terms of total consumption with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. In the other countries, the average annual rates were as follows: the United States (+1.3% per year) and India (+1.1% per year).

In value terms, China ($1.4B), the United States ($755M) and India ($484M) were the countries with the highest levels of market value in 2022, with a combined 44% share of the global market. Japan, Germany, Italy, Indonesia, Turkey, South Korea, Canada, Democratic Republic of the Congo and Iran lagged somewhat behind, together accounting for a further 31%.

In terms of the main consuming countries, Turkey, with a CAGR of +4.1%, saw the highest growth rate of market size over the period under review, while forms for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of polymers of vinyl acetate in aqueous dispersion in primary forms was registered in Germany (6 kg per person), followed by Italy (2.9 kg per person), South Korea (2.5 kg per person) and Canada (2.4 kg per person), while the world average per capita consumption of vinyl acetate polymers in aqueous dispersion in primary forms was estimated at 0.6 kg per person.

In Germany, per capita consumption of polymers of vinyl acetate in aqueous dispersion in primary forms expanded at an average annual rate of +7.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (-4.1% per year) and South Korea (+3.4% per year).

Production

World Production of Polymers of Vinyl Acetate in Aqueous Dispersion in Primary Forms

In 2022, after three years of growth, there was decline in production of polymers of vinyl acetate in aqueous dispersion in primary forms, when its volume decreased by -1.7% to 5M tons. The total output volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 7.6%. Over the period under review, global production of reached the maximum volume at 5.1M tons in 2021, and then dropped slightly in the following year.

In value terms, production of polymers of vinyl acetate in aqueous dispersion in primary forms reduced modestly to $5.5B in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 7% against the previous year. Global production peaked at $5.7B in 2014; however, from 2015 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.2M tons), Germany (649K tons) and the United States (493K tons), with a combined 46% share of global production. India, Japan, Italy, South Korea, Indonesia, Turkey, Canada, Iran, Malaysia and Democratic Republic of the Congo lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +7.0%), while forms for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Polymers of Vinyl Acetate in Aqueous Dispersion in Primary Forms

In 2022, approx. 838K tons of polymers of vinyl acetate in aqueous dispersion in primary forms were imported worldwide; which is down by -10.1% compared with 2021 figures. The total import volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 12%. As a result, imports reached the peak of 932K tons, and then shrank in the following year.

In value terms, imports of polymers of vinyl acetate in aqueous dispersion in primary forms expanded significantly to $1.5B in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Over the period under review, global imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The United States (60K tons), India (55K tons), China (54K tons), Switzerland (47K tons), Germany (42K tons), France (40K tons), Italy (37K tons), the UK (33K tons), the Netherlands (32K tons), Indonesia (24K tons), Poland (24K tons) and Vietnam (19K tons) represented roughly 56% of total imports in 2022. Austria (18K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +21.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest vinyl acetate polymers in aqueous dispersion in primary forms importing markets worldwide were India ($97M), the United States ($90M) and Switzerland ($83M), together comprising 18% of global imports.

Among the main importing countries, India, with a CAGR of +22.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for polymers of vinyl acetate in aqueous dispersion in primary forms stood at $1,765 per ton in 2022, jumping by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 31%. Global import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($1,949 per ton) and Vietnam ($1,923 per ton), while China ($1,429 per ton) and the United States ($1,517 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+5.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Polymers of Vinyl Acetate in Aqueous Dispersion in Primary Forms

In 2022, global exports of polymers of vinyl acetate in aqueous dispersion in primary forms fell sharply to 833K tons, dropping by -15.1% on 2021 figures. The total export volume increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 8.2%. As a result, the exports attained the peak of 982K tons, and then shrank notably in the following year.

In value terms, exports of polymers of vinyl acetate in aqueous dispersion in primary forms dropped to $1.4B in 2022. Overall, total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45%. As a result, the exports attained the peak of $1.4B, leveling off in the following year.

Exports By Country

In 2022, Germany (191K tons), distantly followed by the Netherlands (74K tons), Singapore (72K tons), Italy (71K tons), South Korea (52K tons), Malaysia (47K tons), Canada (45K tons) and Taiwan (Chinese) (39K tons) represented the key exporters of polymers of vinyl acetate in aqueous dispersion in primary forms, together generating 71% of total exports. Sweden (36K tons), the United States (30K tons), Turkey (18K tons), the United Arab Emirates (16K tons) and China (15K tons) took a relatively small share of total exports.

Germany experienced a relatively flat trend pattern with regard to volume of exports of polymers of vinyl acetate in aqueous dispersion in primary forms. At the same time, Singapore (+27.5%), South Korea (+24.3%), the United Arab Emirates (+17.6%), Malaysia (+5.4%), Canada (+4.2%), the Netherlands (+1.9%), China (+1.4%) and Sweden (+1.1%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in the world, with a CAGR of +27.5% from 2012-2022. Italy and Turkey experienced a relatively flat trend pattern. By contrast, the United States (-2.9%) and Taiwan (Chinese) (-3.8%) illustrated a downward trend over the same period. While the share of Singapore (+7.7 p.p.), South Korea (+5.4 p.p.) and Malaysia (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-2 p.p.), the United States (-2.1 p.p.), Taiwan (Chinese) (-3.5 p.p.) and Germany (-4.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($346M) remains the largest vinyl acetate polymers in aqueous dispersion in primary forms supplier worldwide, comprising 24% of global exports. The second position in the ranking was taken by the Netherlands ($141M), with a 9.9% share of global exports. It was followed by Italy, with a 9.5% share.

In Germany, exports of polymers of vinyl acetate in aqueous dispersion in primary forms expanded at an average annual rate of +2.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+5.6% per year) and Italy (+4.1% per year).

Export Prices By Country

The average export price for polymers of vinyl acetate in aqueous dispersion in primary forms stood at $1,715 per ton in 2022, rising by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 34% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Italy ($1,913 per ton) and the Netherlands ($1,912 per ton), while Canada ($1,352 per ton) and Taiwan (Chinese) ($1,380 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform