Chlorinated Polyvinyl Chloride Market Expected to Reach $9.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Chlorinated Polyvinyl Chloride Market," The chlorinated polyvinyl chloride market size was valued at $5.1 billion in 2021, and is estimated to reach $9.9 billion by 2031, growing at a CAGR of 7% from 2022 to 2031.

Chlorinated polyvinyl chloride offers excellent heat, chemical, and corrosion resistance and in recent years is being used extensively in hot water distribution pipes. Further, it has become an essential engineering thermoplastic due to its relatively low cost; high heat distortion temperature; resistance; superior mechanical; and flame, dielectric, and smoke resistance properties. It is used in a broad range of applications such as vehicle parts, electrics, construction materials, and others.

Growth in the construction industry is one of the major factors that drive the growth of the global chlorinated polyvinyl chloride industry. In addition, wide application scope of CPVC is also anticipated to foster the chlorinated polyvinyl chloride market growth in the near future. The major challenge for the industry is high cost associated with CPVC.

Nevertheless, 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 growth opportunities for the market growth during the projection period. There is an increase in demand for wastewater treatment owing to surge in population, urbanization, augmenting manufacturing sector, regulatory requirements, and initiatives by manufacturing industries and state bodies for low waste generation. For instance, according to The Development Bank of Latin America (CAF), over the period of 2010–2030, approx. $80 billion will be spent on sewerage infrastructure and $33 billion on wastewater treatment.

CPVC is chemically inert to most bases, mineral acids, salts and aliphatic hydrocarbons, delivering a lifetime of resistance to caustic chemicals and water of all purity levels even at high temperatures. Besides, CPVC is also non-conductive and resistant to galvanic corrosion. It is resistant to numerous aggressive chemicals used during the wastewater treatment process such as aluminum sulfate (alum), aluminum chloride calcium hydroxide (lime), ferric chloride, ferric sulfate, ferrous chloride, ferrous sulfate, sodium aluminate, and others. Further, it is highly efficacious in primary and secondary water treatment phases for usage in sludge lines, influent and effluent lines, chlorine and sodium lines, fluoride and alum lines, and numerous other piping lines.

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

By end-user-industry, the market is categorized into construction, chemical, electrical & electronics, healthcare, agriculture, and others. The chemical segment is the fastest growing segment with the highest CAGR. Chlorinated polyvinyl chloride is widely used with numerous different chemicals used in an extensive array of industrial operations owing to its excellent corrosion resistance. Industries including metal finishing (chrome plating), wastewater treatment, chlor-alkali, pulp and paper, and food and beverage are widely installing CPVC piping systems in recent years. The factors such as growth in chemical industry and use of CPVC with different chemicals in various industrial operations are expected to drive the market growth. In the metal finishing/plating industry, CPVC offers the necessary chemical and temperature resistance.

Similarly, the chlor-alkali industry transports a number of highly corrosive chemicals, including sodium hydroxide (caustic soda), sulfuric acid, cell liquor (brine, sodium hydroxide), sodium hypochlorite, sodium chloride (brine), hydrochloric acid, and demineralized/deionized water. These chemicals are compatible with CPVC for use in steam chlorine drying towers, condensate/evaporator systems, chlorine headers/manifolds, and other applications.

Further, in wastewater treatment industry, CPVC has been proven to be compatible with harsh chemicals such as sulfuric, magnesium hydroxide, calcium hydroxide, nitric or phosphoric acid, sodium hydroxide, ferric chloride, and sodium hypochlorite. Most food & beverage plants require meticulous cleaning in order to meet stringent health standards and hence, process equipment is usually cleaned utilizing harsh chemicals or cleaning agents at high temperatures. The CPVC possesses both the temperature and corrosion resistance needed to perform the cleaning of process equipment reliably and cost effectively.

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, business expansion, partnership, and agreement as their major strategies in order to increase their market shares.

For instance, in July 2022, Meghmani Finechem Limited established India’s largest chlorinated polyvinyl chloride resin (CPVC) plant at Dahej Petroleum. The new chlorinated polyvinyl chloride production unit is made at an estimated cost of $25 million and is likely to have a production capacity of 30,000 tons per annum. Further, in 2021, Shandong Repolyfine Additives Co., Ltd. expanded its business as its polyvinyl chloride (PVC) and more recently chlorinated-PVC (CPVC) pipes are extensively used for water distribution, wastewater, and in limited applications for gas distribution. More and more cities are using CPVC pipes and pipe fittings in their water distribution networks. The usage of these products has expanded the business of Shandong Repolyfine Additives Co., Ltd.

Key findings of the study:

• By application, the pipes and fittings segment was the highest revenue contributor to the market in 2021.
• By end-user industry, the chemical segment is the fastest-growing segment with the highest CAGR.
• By region, Asia-Pacific was the highest revenue contributor growing with a CAGR of 7.6%.