The Global Chlorinated Polyvinyl Chloride Market Size is valued at USD 1.6 billion in 2023 and is predicted to reach USD 3.71 billion by 2031 at an 11.21% CAGR during the forecast period of 2024-2031.
Chlorinated polyvinyl chloride (CPVC) is a solid vinyl thermoplastic that exhibits exceptional resistance to corrosion, even when subjected to elevated temperatures. CPVC is a product that possesses chemical resistance, flame resistance, extraordinary tensile strength, and the ability to be machined, manufactured, and welded.
As a result, it finds application in a wide range of industries and applications that require resistance to high temperatures. However, the high cost of CPVC may impede the market's consistent expansion. Due to the high cost of chlorinated polyvinyl chloride, end users are increasingly turning to PVC for various applications, including underground housing wires, plumbing, drainage, and sewage infrastructure, drinking and process water delivery and distribution, and agriculture, livestock, and farm irrigation systems.
Nevertheless, it is projected that the growth of the chlorinated polyvinyl chloride market would be lucrative due to the rising requirement for wastewater treatment and CPVC's resistance to different harmful chemicals utilized in the wastewater treatment process.
Competitive Landscape:
Major Key Players In The Chlorinated Polyvinyl Chloride Market Are:
- 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 Ltd
- 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 & CO., LTD.
- Kunshan Maijisen Composite Materials Co., Ltd
Market Segmentation:
The chlorinated polyvinyl chloride market is segmented into by form, grade, production process, application, end-use industry, and sales channel. By form, the market is divided into pellet form, and powder form. By grade, the market is categorized into Injection grade, and extrusion grade. production process segment includes aqueous suspension method, solvent method, and solid phase method. Based on application, the market is categorized into plumbing systems, fire protection systems, chemical & industrial equipment, power cable casing, adhesives & coatings, and others. Based on the end industry, the market is segmented into commercial and residential. Based on sales channel, the market is further segmented into direct and indirect sales.
The Extrusion Grade Of CPVC Is Expected To Dominate The CPVC Industry In Terms Of Market Share.
The CPVC industry is anticipated to be dominated by extrusion grade of CPVC due to the rising demand for pipes and fittings in infrastructure and construction projects around the globe. Increasing emphasis on the chemical processing and water treatment industries also contributes to the expansion of the market. It is also anticipated that technological advances in manufacturing processes and the creation of CPVC compounds with improved properties—such as resistance to ultraviolet light and enhanced flow characteristics—will contribute to market growth and innovation.
Based On Application, The Plumbing Segment Is A Significant Contributor To The Chlorinated Polyvinyl Chloride Market.
The plumbing category is expected to hold a significant share of the global chlorinated polyvinyl chloride market. Water supply and distribution in industrial and home uses, as well as for solar and electric water heaters, all require chlorinated polyvinyl chloride pipes and fittings. These are typically employed in chemical, oil & gas, mining, electrical & electronics, and building & construction sectors. The lightweight, corrosive-free, and long-lasting CPVC pipes and fittings can replace galvanized iron and traditional pipes and fittings. Due to its increased use in residential and commercial applications and capacity to resist higher temperatures than plastic piping systems, CPVC pipes and fittings are in higher demand. CPVC pipes and fittings are ideal for providing hot and cold water to both residential and commercial properties. They transport drinking water in water treatment plants. CPVC pipes and fittings are also utilized to convey various chemicals, hot corrosive fluids, and inorganic acids and bases that are employed in chemical processing.
The Residential Segment Witnessed Growth At A Rapid Rate.
The Residential segment is projected to overgrow in the global chlorinated polyvinyl chloride market. Chlorinated polyvinyl chloride pipes, are widely used in residential plumbing systems. The market growth is due to the escalating level of investment in the real estate sector. Furthermore, it is anticipated that the demand for pipelines in the residential construction sectors will increase due to the exponential growth of new housing developments projects worldwide. Numerous chemicals normally encountered in residential plumbing systems are remarkably resistant to CPVC pipelines.
The Asia Pacific Chlorinated Polyvinyl Chloride Market Holds A Significant Revenue Share.
The Asia Pacific chlorinated polyvinyl chloride market is expected to register the highest market share in revenue shortly. Due to the increasing demand for CPVC pipes in wastewater treatment plants, this region now dominates the global CPVC market. It is predicted to continue doing so over the next ten years. An additional element driving the demand for chlorinated PVC in the area is the expansion of manufacturing and construction facilities. India is an emerging market in South Asia and the Pacific, where the building and construction sector significantly contributes to GDP growth. The residential, commercial, and industrial sectors comprise the building and construction industries. The demand for pipes and fittings used in buildings is rising due to these industries' steady growth throughout the nation. Besides, North America owns the largest share of the CPVC market, followed by Asia-Pacific. The growing demand for CPVC in the plumbing and fire protection systems is assisting the regional market expansion. Over the anticipated timeframe, the region's need for products is anticipated to be driven by the presence of many significant CPVC manufacturers and the expanding electrical electronics sector in North America.
Recent Developments:
- In April 2024, Epigral Limited, previously named Meghmani Finechem Ltd, has announced the successful initiation of operations for a new CPVC (Chlorinated Polyvinyl Chloride) resin factory at its Dahej location in Gujarat. This plant has a capacity of 45,000 TPA (Tonnes Per Annum). By expanding, Epigral has increased its total CPVC resin capacity to an impressive 75,000 TPA, making it the largest CPVC resin facility in the world at a single location.
- In October 2023, Lubrizol and Grasim Industries Limited inaugurated a CPVC resin facility in Vilayat, Gujarat, India. The facility situated at the Grasim Industries' site will have the strongest capacity for CPVC resin manufacturing at a single location worldwide. It has been designed to cater to the increasing demand for CPVC in piping applications in India, as well as neighboring countries such as Nepal, Bangladesh, and Indonesia. This resin facility will employ Lubrizol's cutting-edge CPVC resin manufacturing technology. By combining this technology with Grasim's proficient manufacturing capabilities, it will be possible to obtain locally produced CPVC material of exceptional quality.
Chlorinated Polyvinyl Chloride Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 1.6 billion |
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Revenue forecast in 2031 |
USD 3.71 billion |
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Growth rate CAGR |
CAGR of 11.21% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Bn, Volume in Kiloton and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
By Form, By Grade, By Production Process, By Application, By End-use Industry, By Sales Channel |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; Southeast Asia |
|
Competitive Landscape |
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 Ltd, 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 & CO., LTD., and Kunshan Maijisen Composite Materials Co., Ltd. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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