[Online Quarterly Update] Chlorinated Polyvinyl Chloride (CPVC) Market witnessed significant growth as its demand reached 3.2 million tonnes in 2020 and is anticipated to achieve a healthy CAGR of 5.83% during the forecast period until 2035. Chlorinated Polyvinyl Chloride is a thermoplastic homopolymer that has been subjected to a chlorination reaction of Polyvinyl Chloride resin. The chlorine added to PVC gives CPVC higher temperature performance and enhanced fire resistance. PVC and chlorine react according to a basic free radical mechanism via different approaches using thermal and/or UV energy. CPVC provides superior resistance to degradation and delivers a lifelong service. Chlorinated Polyvinyl Chloride is inert to salts, acids, bases, and aliphatic hydrocarbons, which commonly eat away all metals. CPVC’s chemical, temperature, and pressure resistance properties enable it to meet an array of industrial and commercial applications. The continuously increasing demand for cost-effective and durable CPVC pipes and fittings is driving the Chlorinated Polyvinyl Chloride industry across the globe. With the rapidly increasing population and industrialization, the rising construction activities around the world are expected to drive the demand for chlorinated PVC pipes and fittings, further propelling the CPVC market in the upcoming years. CPVC resin is infused with additives to increase many CPVC resin’s properties while easing its processability. This process sets Chlorinated Polyvinyl Chloride apart from other metal and thermoplastic piping systems, securing it against the demanding environments of industrial processing plants.
On the basis of grade, the CPVC market is segmented into pipe grade, fitting grade, sheeting grade, and adhesive grade. The pipe grade segment is likely to drive the market in the upcoming years due to its excellent resistance properties coupled with increasing demand from the construction sector.
Based on various end-uses, the market is segregated into hot water pipes/fittings, industrial pipes/fittings, fire sprinkler pipes/fittings, underground pipes for housing power cables, films/sheeting, filters, equipment, adhesives, and others. The industrial pipes/fittings segment is anticipated to drive the CPVC market in the future due to the increasing number of industrial plant projects lined up across the world. From an ecological point of view, CPVC is one of the most sustainable options for piping and fittings for those looking to optimize energy consumption and meet industry environmental standards as Chlorinated Polyvinyl Chloride is 100% recyclable and has low petroleum content.
In 2020, due to the sudden outbreak of COVID-19, the CPVC market was drastically affected around the globe. Several end-use businesses, industries, and other facilities witnessed a severe decline in sales and production during the first half of 2020 due to the nationwide lockdowns imposed by the government authorities. The scarcity of raw materials and manpower, mainly in power cable housing and the pipes & fittings sectors, resulted in reduced CPVC demand. The market growth post-pandemic demonstrated an upward trend due to the increased demand for CPVC from the pipes & fittings sector.
Among different regions, the Asia Pacific region dominates the CPVC market around the world and is forecasted to maintain its dominance over the next ten years as well, owing to the growing demand for CPVC pipes in the wastewater treatment plants. Rising construction and manufacturing facilities across the region is another factor propelling the demand for chlorinated PVC. Followed by the Asia Pacific, North America holds the major share in the CPVC market.
Major players operating in the CPVC market include Lubrizol corporation, BASF SE, Shandong Xiangsheng, Sekisui Chemical, Novista group, KEM one, New Materials Technology, Kaneka Corporation, Hangzhou Electrochemical Group Co. ltd., Jiangsu Tianteng Chemical Industry, and others. Lubrizol Advanced Materials company merged with Grasim Industries Ltd. to set up the largest CPVC resin plant in India for manufacturing and supplying the resins to match the increasing requirement for pipes and fittings across the country. Technology licensing for CPVC Resin & Compound manufacturing are controlled by Lubrizol, Arkema, Kaneka, and Hanwha Corporation.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2035
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Objective of the Study:
• To assess the demand-supply scenario of CPVC which covers production, demand and supply of CPVC market globally.
• To analyse and forecast the market size of CPVC.
• To classify and forecast CPVC market based on application, Grade, end-use and regional distribution.
• To identify drivers and challenges for CPVC market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in CPVC market.
• To identify and analyse the profile of leading players involved in the manufacturing of CPVC.
To extract data for CPVC market, primary research surveys were conducted with CPVC manufacturers, suppliers, distributors, wholesalers, and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global CPVC market over the coming years.
ChemAnalyst calculated CPVC demand globally by analyzing the historical data and demand forecast which was carried out considering imported CPVC, styrene prices, monomers used for production of CPVC. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• CPVC manufacturers and other stakeholders
• Organizations, forums, and alliances related to CPVC distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as CPVC manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Chlorinated Polyvinyl Chloride market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
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Market size volume by 2020
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3.2 Million Tonnes
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Growth Rate
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CAGR of 5.83% from 2022 to 2035
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Base year for estimation
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2020
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Historic Data
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2015 – 2019
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Forecast period
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2022 – 2035
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Quantitative units
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Demand in Million Tonnes and CAGR from 2021 to 2035
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Report coverage
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Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
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Segments covered
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By Grade: (Pipe Grade, Fitting Grade, Sheeting Grade, and Adhesive Grade)
By End-Use: (Hot water pipes/fittings, Industrial pipes/fittings, Fire Sprinkler pipes/fittings, Underground pipes for housing power cables, Films/sheeting, Filters, Equipment, Adhesives, and others)
By Sales Channel: (Direct Company Sale, Direct Import, Distributors & Traders) |
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Regional scope
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North America; Europe; Asia Pacific; South America; Middle East & Africa
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Country scope
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United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
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Key companies profiled
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BASF SE, Shandong Xiangsheng, Supreme Industries Limited, Finolex Industries Limited, Sekisui Chemical, Novista group, KEM one, New Materials Technology, Kaneka Corporation, Hangzhou Electrochemical Group Co, Lubrizol corporation (Berkshire Hathaway), Jiangsu Tianteng Chemical Industry, and others.
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Customization scope
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Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com
