Chlorinated Polyvinyl Chloride Market Size, Share, Competitive Landscape and Trend Analysis Report, by Application, by End User Industry : Global Opportunity Analysis and Industry Forecast, 2022-2031

Chlorinated Polyvinyl Chloride Market Research, 2031

The global chlorinated polyvinyl chloride market size was valued at $5.1 billion in 2021, and is projected to reach $9.9 billion by 2031, growing at a CAGR of 7% from 2022 to 2031.

Report Key Highlighters:

• 20 countries are covered in the chlorinated polyvinyl chloride market report. The segment analysis of each country in both value ($million) and volume (kilotons) during the forecast period 2021-2031 is covered in the report.
• 24 companies are profiled in the report. Also tracked key strategies such as acquisitions, product launches, mergers, expansion etc. of the players operating in the chlorinated polyvinyl chloride market.
• More than 3,700 product literatures, industry releases, annual reports, and other such documents of key industry participants have been reviewed obtain a better understanding of the chlorinated polyvinyl chloride market.

Chlorinated polyvinyl chloride is a special type of polyvinyl chloride with added chloride and can be welded, machined, and fabricated to cater to various thermo-mechanical performances. It is a thermoplastic polymer with superior resistance to corrosion as well as heat and has excellent thermo-mechanical properties. CPVC majorly finds application in the fabrication of pipes & fittings.

Chlorinated polyvinyl chloride have high strength, high temperature resistance, good flexibility, corrosion resistance, good insulation performance, flame retardant, light-weight, and others. CPVC offers greater strength for supporting heavy loads of wires. It is used for electrical products and is also utilized in covering the unconcealed wiring at home and offices. Also, it is used for electrical conduit, electrical busbars, track lighting fittings, and electrical appliances and electronic parts such as wire way, electric switch, and others.

Growing use in pipes & fittings, fire sprinkler systems, adhesives & coatings is anticipated to foster the production of chlorinated polyvinyl chloride during the forecast period.

Chlorinated polyvinyl chloride is extensively used in applications such as pipes & fittings, fire sprinkler systems, adhesives & coatings, etc. Due to its superior corrosion resistance at high temperatures, CPVC is suited for self-supporting constructions at temperatures up to 200°F. Its ability to bend, shape, and weld enables its use in a comprehensive variety of process applications such as scrubbers, tanks, and ventilation systems. It displays chemical resistance, and superior fire resistance, and is available in rods, sheets, and tubing.

It is also used in various industrial applications where resistance to corrosive chemicals and high functional temperatures are desirable. Besides it is employed in pumps, pipe & fittings, strainers, filters, valves, tower packing, and ducts. In pipes & fittings, CPVC displays higher impact and tensile strength and is non-toxic. In pressurized systems, it can be utilized with fluids up to 80°C and higher in low-pressure systems. Based on local building codes, it can be employed in hot and cold chemical distribution systems as well as hot and cold water systems. Further, CPVC finds applications in fire sprinkler systems and are widely used in commercial buildings and institutional buildings due to durability, ease of fabrication & installation, and faster installation.

Besides, CPVC fire sprinkler systems are approved for usage in schools, high-rise buildings such as offices, residence halls, churches hospitals, and numerous other facilities. Moreover, CPVC can be used in the production of anti-corrosion adhesive & coatings. Recent years have witnessed increased demand for chlorinated polyvinyl chloride in adhesives & coatings industry, owing to its properties such as superior solubility, electrical insulation, thermoplasticity, corrosion resistance, and waterproof. Further, higher heat resistance properties of CPVC than PVC make it useful for various commercial and industrial applications. Growing disposable income along with an upsurge in the number of building & construction projects has increased the demand for adhesives & coatings across the globe. Further, companies are offering CPVC that has excellent solubility, electrical insulating property, thermoplasticity, corrosion resistance, and waterproof properties. Besides, it is more easily soluble than Polyvinyl Chloride (PVC) in organic solvents such as ketones, esters, and aromatic hydrocarbons. Consequently, it is widely used in the production of adhesive and coatings.

However, high cost associated with CPVC may hamper the steady growth of the market. The end-users are inclining toward PVC for numerous applications such as housing underground wires; plumbing, drainage, and sewage infrastructure; drinking and process water delivery and distribution; and agriculture, livestock and farm irrigation systems owing to high cost associated with chlorinated polyvinyl chloride. PVC is a high-strength thermoplastic material majorly used in numerous applications, such as pipes & fittings, wires and cables, films & sheets, bottles, hoses, and tubings. 

Moreover, PVC has similar properties as CPVC such as lightweight, strong, durable, resistant to chemical corrosion and abrasion as well as is versatile, and easy to use and therefore, can be used as a substitute for CPVC. Nonetheless, the increase in demand for wastewater treatment and resistance of CPVC against various aggressive chemicals used during the wastewater treatment process is anticipated to create lucrative opportunities for the chlorinated polyvinyl chloride market growth.

The global chlorinated polyvinyl chloride market is segmented on the basis of application, end-user industry, and region. Based on application, the market is classified into pipes & fittings, fire sprinkler systems, power cable casing, adhesives & coatings, and others. By end-user-industry, the market is categorized into construction, chemical, electrical & electronics, healthcare, agriculture, and others. The chlorinated polyvinyl chloride market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific is projected to register a robust growth during the forecast period. The chlorinated polyvinyl chloride industry is driven by urbanization and rise in construction activities in developing countries including India and China. In addition, increasing demand for CPVC pipes in the wastewater treatment plants is anticipated to propel the market growth in coming years. Further, presence of large number of manufacturers such as GEON Performance Solutions, Grasim Industries, Hanwha Solutions, Kaneka, Mitsui & Co., Ltd., and others, is driving the market growth in the region.

The pipes & fittings segment accounted for the largest share of the global chlorinated polyvinyl chloride market in terms of revenue, in 2021. Chlorinated Polyvinyl Chloride pipes & fittings are widely used for hot & cold-water applications, water supply & distribution in industrial & domestic applications, and for solar & electric water heaters. These are primarily used in industries such as the chemical, oil & gas, mining, electrical & electronics, building & construction industries. The CPVC pipes & fittings are lightweight, non-corrosive, and durable, thereby making them a suitable substitute for galvanized iron & conventional pipes & fittings.

The demand for CPVC pipes & fittings is witnessing growth, owing to its increase in residential and industrial applications, and ability to withstand higher temperatures as compared to plastic piping system. The CPVC pipes & fittings are excellent for distributing hot and cold water in residential as well as industrial projects. They are utilized for transportation of drinking water in water treatment plants. Moreover, CPVC pipes & fittings are used to transport chemicals and hot corrosive fluids, including inorganic acids and bases utilized in chemical processing.

The construction segment accounted for the largest share of the global chlorinated polyvinyl chloride market in terms of revenue, in 2021. The demand for CPVC is witnessing growth owing to rise in the construction industry. The growth in construction industry is attributed to surge in population coupled with fast growing economies such as India and China and increased per capita income in emerging economies.

CPVC is an ideal solution for all commercial and residential plumbing piping. It is extensively used for concealed piping. CPVC pipes & fittings can withstand hot water & high pressure as compared to Galvanized Iron (GI) pipes, which are prone to rust and require labor intensive installation.

Key Players and Strategies:

The major players operating in the industry include Shandong Xiangsheng New Materials Technology Co., Ltd., Sundow Polymers Co., Ltd., Via Chemical Co., Ltd., ASTRAL LIMITED, Grasim Industries Limited, DCW Ltd., KANEKA CORPORATION, Polyone Corporation, Reliance Industries Limited, Hangzhou Electrochemical Group Co.,Ltd., Shandong Pujie Plastic and Rubber Co., Ltd., BASF SE, Shandong Tianchen Chemical Co., Ltd., Shriram PolyTech, SEKISUI CHEMICAL CO., LTD., Shandong Repolyfine Additives Co., Ltd., The Lubrizol Corporation, Jiangsu Tianteng Chemical Industry Co., Ltd., Meghmani Finechem Limited, KEM ONE, Hanwha Solutions, Shandong Novista Chemicals Co., Ltd., MITSUI and CO., LTD., and Kunshan Maijisen Composite Materials Co., Ltd. These players have adopted acquisition, partnership, business expansion, and agreement as their key strategies to increase their market shares.

For instance, in November 2022, DCW Ltd. expanded its Chlorinated Polyvinyl Chloride (CPVC) and Synthetic Iron Oxide Pigment (SIOP) capacity by investing $16 million. According to DCW Ltd. projections, the SIOP de-bottlenecking should be finished by Q1 FY24 and the CPVC project should be operational in the second part of FY24. This expansion will increase the production and supply of chlorinated polyvinyl chloride.

Further, in 2020, The Lubrizol Corporation and Grasim Industries Limited entered into a partnership to produce and supply CPVC resin in India. This partnership is expected to meet the rise in demand for pipe and fittings in India and enable Aditya Birla Group and The Lubrizol Corporation to explore collaboration opportunities across additional segments, including water management, textiles, construction, and automotive and piping by leveraging the technologies and market channels of both groups.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the chlorinated polyvinyl chloride market analysis from 2021 to 2031 to identify the prevailing chlorinated polyvinyl chloride market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the chlorinated polyvinyl chloride market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global chlorinated polyvinyl chloride market trends, key players, market segments, application areas, and market growth strategies.

  Chlorinated Polyvinyl Chloride Market Report Highlights

Aspects	Details
Market Size By 2031	USD 9.9 billion
Growth Rate	CAGR of 7%
Forecast period	2021 - 2031
Report Pages	355
By Application	Pipes and Fittings Fire Sprinkler Systems Power Cable Casing Adhesives and Coatings Others
By End User Industry	Construction Chemical Electrical and Electronics Healthcare Agriculture Others
By Region	North America  (U.S., Canada, Mexico) Europe  (Germany, France, UK, Spain, Italy, Rest of Europe) Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific) LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players	Sundow Polymers Co., Ltd, Shandong Tianchen Chemical Co.,Ltd., MITSUI & CO., LTD., Shandong Pujie Plastic and Rubber Co., Ltd., KEM ONE, Meghmani Finechem Limited, Shriram PolyTech, ASTRAL LIMITED, BASF SE, Hangzhou Electrochemical Group Co.,Ltd., PolyOne Corporation, Jiangsu Tianteng Chemical Industry Co., Ltd., SEKISUI CHEMICAL CO., LTD., The Lubrizol Corporation, Hanwha Solutions, Reliance Industries Ltd, Via Chemical Co., Ltd., Shandong Xiangsheng New Materials Technology Co.,Ltd., KANEKA CORPORATION, Shandong Novista Chemicals Co.,Ltd, Grasim Industries Limited, Shandong Repolyfine Additives Co., Ltd., DCW Ltd., Kunshan Maijisen Composite Materials Co.,Ltd

Analyst Review

According to the opinions of various CXOs of leading companies, the chlorinated polyvinyl chloride market is driven by factors such as growth in end-use industries and the growing use of CPVC in numerous applications across diverse sectors.

Moreover, the Asia-Pacific region is projected to register robust growth owing to increase in demand for CPVC in the pipes & fittings and fire-sprinkler industries. Also, the growth of the chlorinated polyvinyl chloride market in the region is due to the increasing construction and production units. China and India are the major contributors for the market growth, owing to rise in construction activities.

Further, the presence of large number of manufacturers such as GEON Performance Solutions, Grasim Industries, Hanwha Solutions, Kaneka, Mitsui & Co., Ltd.., and others, is driving the market growth in the region. However, high cost associated with CPVC is anticipated to hamper the market growth.

Author Name(s) : Arpita Kumari and Devashree Patwardhan | Eswara Prasad

Related Tags

• Adhesives
• Chemical Technology
• Commodity Chemicals
• Petrochemicals
• Construction Chemicals
• Coatings