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Vac-Veova Emulsion Market Overview
The Vac-Veova Emulsion Market size is forecast to reach a value of US$251.3 million by the end of 2027 after growing at a CAGR of 4.2% during 2022-2027. Vac-Veova emulsions are also known as vinyl acetate-vinyl ester of versatile acid emulsions. Vac-Veova emulsions are copolymers and acrylic polymers of vinyl acetate produced by the emulsion polymerization process. The major monomers used during polymerization include styrene-butadiene, acrylate ester acrylonitrile and others. The vac-veova emulsions provide higher stability and adhesiveness required by various industries. The major end-use industries consuming vac-veova emulsions are building & construction, paint & coatings, adhesive industry, textile industry, automotive, aerospace, marine, wood & pulp industry and paper packaging industry. The Increased efforts to use low VOCs in the paints, adhesive & sealants industry are expected to increase market growth for Vac-Veova Emulsions in the forecasted period.
COVID-19 Impact
The COVID-19 pandemic has contributed to the declining growth of the Vac-Veova Emulsion Market worldwide. From a regional point of view, the outbreak of COVID-19 has led to a sharp decline in the export-oriented economy due to the closure of the country's manufacturing industries. The construction industry has been hit hard as segregation, public distribution and city closures have forced many sites to stop building globally. The aforementioned factors have contributed to the use of paints and coatings across all countries leading to reduced consumption of vac-veova emulsions. According to Asia Paints Private Limited, the net profit of the company has fallen by around 2.1% which is US$61.58 Million in 2020 compared to 2019. The data sign of a decline in sales of paints and coatings will affect the market growth of the Vac-Veova Emulsion Market.
Report Coverage
The: “Vac-Veova Emulsion Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Vac-Veova Emulsion Industry.
By Form: Solid (Fine Powder, Crystals) and Liquid.
By Purity: Less than 60%, 60%-80%, 80%-95% and More than 95%.
By End-use Industry: Building & Construction [Residential Construction (Large Apartments, Individual Households, Row Houses, Others), Non-residential construction (Hospitals & Healthcare, Educational Institutes, Hotels & Restaurants, Banks, Hyper & Super Markets, Airports and Others)], Paint and coatings (latex paints, Waterproofing Coatings, Redispersal Powders, Others), Adhesive Industry (Glues, Sealants, Others), Textile industry (Non-woven Staple Fibers, Engineered Fabrics, Others), Automotive, Aerospace, Marine, Wood & Pulp Industry, Paper Packaging Industry and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).
By Purity: Less than 60%, 60%-80%, 80%-95% and More than 95%.
By End-use Industry: Building & Construction [Residential Construction (Large Apartments, Individual Households, Row Houses, Others), Non-residential construction (Hospitals & Healthcare, Educational Institutes, Hotels & Restaurants, Banks, Hyper & Super Markets, Airports and Others)], Paint and coatings (latex paints, Waterproofing Coatings, Redispersal Powders, Others), Adhesive Industry (Glues, Sealants, Others), Textile industry (Non-woven Staple Fibers, Engineered Fabrics, Others), Automotive, Aerospace, Marine, Wood & Pulp Industry, Paper Packaging Industry and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).
Key Takeaways
- The Vac-Veova Emulsion Market is growing at a moderate pace. A major factor in its market growth is its increased use in various applications including adhesives and paint & coatings.
- The effect of COVID-19 on the end-use industries has negatively affected the Vac-Veova Emulsion Market. Also, increased concerns for health and stringent government policies have hampered market growth.
- The Vac-Veova Emulsion Market is sightly fragmented in regional markets while highly fragmented at the global level. The global players have adopted several key strategies, including expansion of production capacities, to boost the market growth.
Figure: Asia Pacific Vac-Veova Emulsion Market Revenue, 2021-2027 (US$ Million)
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Vac-Veova Emulsion Market Segment Analysis – by Form
The liquid form of vac-veova held the largest share in the Vac-Veova Emulsion Market in 2021 and is expected to grow at a CAGR of 3.6% during the forecast period. Vac-veova emulsions are mostly preferred in liquid form as they are extensively used in adhesives, sealants and the paint industry. Also, vac-veova emulsions are well-known for their use on wooden frames and school glues because of their strong adhesive properties. For example, the liquid form of vac-veova can be easily and homogenously blended even in larger volumes. The emulsions are better in liquid form than in solid forms. The convenience of having the liquid form of vac-veova emulsions during the production of glues and adhesives for various end-use industries is one of the major factors driving the segment.
Vac-Veova Emulsion Market Segment Analysis – by End-use Industry
The paint and coatings held a share of around 30% in the Vac-Veova Emulsion Market in 2021 and are expected to grow at a CAGR of 4.1% during the forecast period. Vac-veova emulsions are one of the major ingredients used during the production of paint and coatings. Applying vac-veova emulsions in paints and coatings gives better adhesion and texture to the paints. Paint and coatings are widely used in the automotive & transportation, wood, construction and packaging industries. The wide application of paints and coatings in the building and construction is expected to consume a higher column of vac-veova emulsions on the manufacturer's side. Also, the vac-veova emulsion is used in paints & coatings applied for decorating residential and non-residential infrastructure and buildings, industrial equipment, automotive and marine, industrial wood and others. These broad applications of paints & coatings that require vac-veova emulsions are expected to drive the demand for vac-veova emulsions in the paint and coating industry.
Vac-Veova Emulsion Market Segment Analysis – by Geography
Asia-Pacific has dominated the market in terms of volume and revenue till 2021. In terms of revenue, the region held the largest share of more than 35% in the Vac-Veova Emulsion Market in 2021, owing to the various players in the region. The Asia-Pacific region is growing rapidly in the market due to the rapid urban growth coupled with the growing popularity of vac-veova emulsions in the end-use industries. According to the National Infrastructure Development Report of India, the Government of India has invested around US$136.7 Billion from 2008 to 2019. It is anticipated that growing investments in the end-use industries are likely to drive the market in the region in the foreseen period. The European market has also seen impressive growth due to stricter laws and regulations used by regulatory bodies to follow eco-friendly products. The market is driven by the application of this rule in paints & coatings, adhesive industry and textiles. New growth and technological advances are predicted to boost growth in countries such as the UK, Italy, Germany and France in near future. In addition, the Middle East and Africa are expected to see decent market growth due to the increase in construction activities in the region
Vac-Veova Emulsion Market – Drivers
Increased Demand for Low VOC Vac-Veova Emulsions
Increased demand for vac-veova emulsions with low volatile organic compounds (VOC) across the globe is expected to drive the Market for Vac-Veova Emulsions. According to American Chemistry Council, vinyl acetate emulsions have more than 60% VAM (Vinyl Acetate Monomer) content used in adhesives, coatings and cement. Vinyl acetate emulsions produce low VOC emulsion systems because ethylene monomer acts as a plasticizing monomer and reduces the need for coalescing agents. According to a Clariant AG report, many emulsions contain high volatile organic compounds (VOCs) that evaporate and destroy the environment, which is dangerous to humans. However, vac-veova emulsions that comply with the paint formula can replace high VOC containing coalescing agents and effectively reduce the temperature of the film-coating temperature (MFFT) for staining based on styrene-butadiene and acrylic polymers in vinyl acetate. Also, the vac-veova emulsions products have a VOC content of less than 0.1wt.% (weight percent). Additionally, manufacturers focusing on low VOC-containing products has resulted in increased demand for the low Vac-Veova Emulsion Market.
Expanding Demand for Vac-Veova Emulsions in Adhesive Industry
The adhesive industry is one of the major consumers of Vac-Veova Emulsions products to manufacture various types of end products. Increased production of adhesives such as glues, sealants and tapes will positively drive the market for vac-veova emulsions products. According to Trade Statistics for International Business Development, the imports for prepared adhesives have increased from US$12.5 Billion in 2017 to US$13.1 Billion in 2020. The increased production of adhesives and sealants would directly boost the demand for vac-veova emulsion products in the forecast period. Also, the increased use of the textile industry in developing economies such as India, China and Japan has contributed to the growth of the Vac-Veova Emulsion Market. For an instance, according to the National Bureau of Statistics of China, the revenue from manufacturing textiles has increased from US$340.16 Billion in 2020 to US$378.21 Billion in 2021. The increased consumption, production, spending and revenue from textile fibers such as non-woven staple fibers and engineered fibers would require vac-veova emulsions to cater to the market demand. The above-mentioned recent developments are expected to drive the Vac-Veova Emulsion Market in the coming years.
Vac-Veova Emulsion Market – Challenge
Health Hazards of Adhesive Products
According to the National Library of Medicine, inhaling glues, sealants and other adhesives during manufacturing and end-use can cause inconsistent speech, confusion, aggressive behavior, mood swings, hallucinations, darkness, vomiting and difficulty in breathing. They can also make the heart beat faster and can lead to a heart attack. To add, according to the National Library of Medicine, around 0.17% of all unnatural deaths in the United States since 1993 are considered to be associated with the inhaling of various chemicals including adhesive glues. Also, the manufacturing of adhesive products releases large amounts of chemical gases which are considered to be harmful when inhaled. Therefore, the regulations imposed on their use are becoming increasingly stricter. In addition, growing employee awareness about health and the environment has become a major issue for producers. The aforementioned factors related to the health hazards of adhesive products are expected to hamper the Vac-Veova Emulsion Market in the forecast period.
Vac-Veova Emulsion Industry Outlook
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Vac-Veova Emulsion Market. The top 10 companies in the Vac-Veova Emulsion Market are:
- Dow Inc.
- Celanese Corporation
- DIC Corporation
- Synthomer PLC
- Wacker Chemie AG
- BASF SE
- Omnova Solution Inc.
- STI Polymer
- Asahi Kasei Corporation
- Clariant AG
Recent Developments
- In October 2020, Wacker Chemie AG expanded its product portfolio and distribution to Dubai by opening a production facility and research laboratory for emulsion products including vac-veova emulsions.
- In April 2020, Synthomer acquired Omnova Solution Inc., a US-based specialty chemical company that produces emulsion polymers including vac-veova emulsions products. The acquisition would expand the portfolio and position Synthomer in the global market.
- In Jan 2020, Celanese Corporation inaugurated its new production faculty in China with a production capacity of 20,000 metric tons per annum. The expansion will help the company to cater to the Vac-Veova Emulsion Market demand in China.
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1. Vac-Veova Emulsion Market - Market Overview
1.1 Definitions and Scope
2. Vac-Veova Emulsion Market - Executive Summary
2.1 Key Trends by Form
2.2 Key Trends by Purity
2.3 Key Trends by End-use Industry
2.4 Key Trends by Geography
3. Vac-Veova Emulsion Market – Comparative analysis
3.1 Market Share Analysis - Major Companies
3.2 Product Benchmarking - Major Companies
3.3 Top 5 Financials Analysis
3.4 Patent Analysis - Major Companies
3.5 Pricing Analysis (ASPs will be provided)
4. Vac-Veova Emulsion Market - Startup companies Scenario Premium Premium
4.1 Major startup company analysis:
4.1.1 Investment
4.1.2 Revenue
4.1.3 Product portfolio
4.1.4 Venture Capital and Funding Scenario
5. Vac-Veova Emulsion Market – Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing Business Index
5.3 Successful Venture Profiles
5.4 Customer Analysis – Major companies
6. Vac-Veova Emulsion Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porter Five Force Model
6.3.1 Bargaining Power of Suppliers
6.3.2 Bargaining Powers of Buyers
6.3.3 The threat of New Entrants
6.3.4 Competitive Rivalry
6.3.5 Threat of Substitutes
7. Vac-Veova Emulsion Market – Strategic Analysis
7.1 Value/Supply Chain Analysis
7.2 Opportunity Analysis
7.3 Product/Market Life Cycle
7.4 Distributor Analysis – Major Companies
8. Vac-Veova Emulsion Market – by Form (Market Size - US$ Million/Billion)
8.1 Solid
8.1.1 Fine Powder
8.1.2 Crystals
8.2 Liquid
9. Vac-Veova Emulsion Market – by Purity (Market Size - US$ Million/Billion)
9.1 Less than 60%
9.2 60-80%
9.3 80-95%
9.4 More than 95%
10. Vac-Veova Emulsion Market – by End-use Industry (Market Size - US$ Million/Billion)
10.1 Building & Construction
10.1.1 Residential Construction
10.1.1.1 Large Apartments
10.1.1.2 Individual Households
10.1.1.3 Row houses
10.1.1.4 Others
10.1.2 Non-Residential Construction
10.1.2.1 Hospitals and Healthcare
10.1.2.2 Educational Institutes
10.1.2.3 Hotels & Restaurants
10.1.2.4 Banks
10.1.2.5 Hyper & Super Markets
10.1.2.6 Airports
10.1.2.7 Others
10.2 Paint and Coatings
10.2.1 Latex Paints
10.2.2 Waterproofing Coatings
10.2.3 Redispersal Powders
10.2.4 Others
10.3 Adhesives Industry
10.3.1 Glues
10.3.2 Sealants
10.3.3 Others
10.4 Textile Industry
10.4.1 Non-Woven Staple Fibers
10.4.2 Engineered Fabrics
10.4.3 Others
10.5 Automotives
10.6 Aerospace
10.7 Marine
10.8 Wood & Pulp Industry
10.9 Paper Packaging Industry
10.10 Others
11. Vac-Veova Emulsion Market - by Geography (Market Size - US$ Million/Billion)
11.1 North America
11.1.1 The USA
11.1.2 Canada
11.1.3 Mexico
11.2 Europe
11.2.1 The UK
11.2.2 Germany
11.2.3 France
11.2.4 Italy
11.2.5 The Netherlands
11.2.6 Spain
11.2.7 Russia
11.2.8 Belgium
11.2.9 The Rest of Europe
11.3 Asia-Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Australia and New Zealand
11.3.6 Indonesia
11.3.7 Taiwan
11.3.8 Malaysia
11.3.9 The Rest of APAC
11.4 South America
11.4.1 Brazil
11.4.2 Argentina
11.4.3 Colombia
11.4.4 Chile
11.4.5 The Rest of South America
11.5 Rest of the World
11.5.1 The Middle East
11.5.2 Africa
12. Vac-Veova Emulsion Market – Entropy
12.1 New Product Launches
12.2 M&As, Collaborations, JVs and Partnerships
13. Vac-Veova Emulsion Market – Industry/Competition Segment Analysis Premium
13.1 Company Benchmarking Matrix – Major Companies
13.2 Market Share at Global Level - Major companies
13.3 Market Share by Key Region - Major companies
13.4 Market Share by Key Country - Major companies
13.5 Market Share by Key Application - Major companies
13.6 Market Share by Key Product Type/Product category - Major companies
14. Vac-Veova Emulsion Market – Key Company List by Country Premium Premium
15. Vac-Veova Emulsion Market Company Analysis - Business Overview, Product Portfolio, Financials and Developments
15.1 Company 1
15.2 Company 2
15.3 Company 3
15.4 Company 4
15.5 Company 5
15.6 Company 6
15.7 Company 7
15.8 Company 8
15.9 Company 9
15.10 Company 10 and more
* "Financials would be provided on a best-effort basis for private companies."
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LIST OF TABLES
1.Global Vac-Veova Emulsion Market, by Type Market 2019-2024 ($M)2.Global Vac-Veova Emulsion Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Vac-Veova Emulsion Market, by Type Market 2019-2024 (Volume/Units)
4.Global Vac-Veova Emulsion Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Vac-Veova Emulsion Market, by Type Market 2019-2024 ($M)
6.North America Vac-Veova Emulsion Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Vac-Veova Emulsion Market, by Type Market 2019-2024 ($M)
8.South America Vac-Veova Emulsion Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Vac-Veova Emulsion Market, by Type Market 2019-2024 ($M)
10.Europe Vac-Veova Emulsion Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Vac-Veova Emulsion Market, by Type Market 2019-2024 ($M)
12.APAC Vac-Veova Emulsion Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Vac-Veova Emulsion Market, by Type Market 2019-2024 ($M)
14.MENA Vac-Veova Emulsion Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
LIST OF FIGURES
1.US Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)2.Canada Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
6.Peru Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
8.Chile Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
10.UK Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
11.Germany Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
12.France Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
13.Italy Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
14.Spain Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
16.China Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
17.India Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
18.Japan Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global Vac-Veova Emulsion Industry Market Revenue, 2019-2024 ($M)
21.North America Global Vac-Veova Emulsion Industry By Application
22.South America Global Vac-Veova Emulsion Industry By Application
23.Europe Global Vac-Veova Emulsion Industry By Application
24.APAC Global Vac-Veova Emulsion Industry By Application
25.MENA Global Vac-Veova Emulsion Industry By Application