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Changes in China's VAE emulsion production capacity are largely due to new construction and expansion projects in the industry. For example, the launch of a 20,000-ton annual VAE commercial emulsion expansion project in Jiangsu and Celanese's announcement to expand emulsion production capacity in Nanjing, China, have been significant. China is a key producer of VAE emulsions around the world, supported by many producers and production lines. Recently, the total production capacity for VAE emulsions has grown, due to increased market needs and better technology. Generally, China's VAE emulsion industry uses its capacity well, especially in areas that need a lot of adhesives and exterior building insulation. In these fields, production lines often run at their maximum.

In 2023, East China, especially Jiangsu and Anhui, became the country's top area for making VAE emulsion. They made 620,000 tons a year, which is over half (56.88%) of all of China's production. Jiangsu did the most, producing 560,000 tons each year, accounting for 51.38% of the country’s total.

China is a big maker and seller of VAE emulsions, and its sales to other countries have been going up. They mostly sell to Southeast Asia, Europe, and North America. Because they don't cost too much and are good quality, Chinese VAE emulsions are becoming important in the world market. Chinese companies are getting better at research, so they can now make many kinds of strong, special VAE emulsions, which means they don't need to buy as much from other countries. The better quality of VAE emulsions made in China means they can do many things, so China bought way less from other countries in 2021. As the industry gets better, they sell more and more to other countries each year.

China's VAE emulsion import market is highly concentrated. Demand is growing and supply chain stability is gradually increasing. In 2023, Taiwan was the largest source of VAE emulsion imports, with imports reaching 27,699.13 tons, accounting for 47.06% of total imports, a year-on-year increase of approximately 35.54%. Singapore was second, with imports reaching 26,329.13 tons, accounting for 44.74% of total imports, a year-on-year increase of approximately 18.47%.

Looking at the apparent consumption of China's VAE emulsion industry, from 2016 to 2021, the industry showed steady growth, driven by downstream demand. In 2022, due to a significant decline in production and imports, apparent demand fluctuated, falling from 791,600 tons in 2021 to 661,700 tons, a year-on-year decrease of 16.41%. Although apparent consumption rebounded in 2023, overall volatility remained significant. The self-sufficiency rate went up in 2022 and 2023, but consumption seemed to drop in 2022. Experts believe that this difference between production and demand changes could cause too much or too little inventory, which would change how supply and demand work in the market.

This article is excerpted from "Analysis of the Current Development Status of China's VAE Emulsion Industry in 2023: The Launch of Jiangsu's 20,000-Ton Annual VAE Commercial Emulsion Expansion Project Will Drive Further Capacity Expansion in the Industry."

Based on market share by production capacity, the competitive landscape in China's VAE emulsion industry is relatively concentrated. Wacker Chemie (China) Co., Ltd. holds the largest market share, at 18.35%. The remaining shares are similar for the remaining companies. The remaining 15.59% of the market share is held by other companies. This indicates that the market is primarily dominated by a few large companies, but there is also some market fragmentation, with other companies collectively sharing approximately one-sixth of the market share.

Wanwei High-Tech Materials Co., Ltd. is a company primarily engaged in the research, development, production, and sales of new chemical materials. The VAE emulsion sector is a core part of the company's business. Its VAE emulsion products serve many purposes, mainly in adhesives, coatings, building materials, and textiles. Wanwei High-Tech has good production methods and tools, so it can make quality VAE emulsions that fit different customer needs. In 2023, the company made about 475 million yuan in revenue from VAE emulsions.

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