Chlorinated Polyvinyl Chloride (CPVC) Market is Expected to Grow CAGR of 5.83% by 2035

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According to ChemAnalyst report, “Chlorinated Polyvinyl Chloride (CPVC) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, The Chlorinated Polyvinyl Chloride (CPVC) market witnessed significant growth by reaching 3.2 million tonnes in 2020 and is expected to achieve an impressive CAGR of 5.83% in the span of the next ten years. Continuously growing demand for CPVC resins for the production of pipes for housing power cables, films/sheeting, filters, equipment, adhesives, and others is expected to boost the CPVC market in the upcoming years.  The rising demand for affordable, durable, and effective CPVC pipes and fittings from the downstream construction sector is likely to drive the CPVC market in the forecast period.

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Chlorinated Polyvinyl Chloride, also referred to as CPVC, is a thermoplastic produced from a chlorination reaction of Polyvinyl Chloride (PVC) resin. The Chlorine is responsible for the higher temperature performance and enhanced fire resistance of CPVC. Polyvinyl Chloride and Chlorine react through a free radical mechanism via different approaches using thermal and/or UV energy. Chlorinated Polyvinyl Chloride shares excellent resistance to degradation and provides a lifelong service. CPVC possesses versatile properties such as high chemical, temperature, and pressure resistance, which makes it a good product to utilize in a wide range of industrial and commercial applications. It is demonstrably inert to salts, acids, bases, and aliphatic hydrocarbons, which commonly eat away all metals. The growing demand for inexpensive and durable CPVC pipes and fittings is augmenting the chlorinated PVC industry worldwide. The increasing construction activities in several regions is driving the demand for chlorinated PVC pipes and fittings, further propelling its market around the world. Chlorinated PVC resin is infused with additives that enhance its properties while easing its processability.

The CPVC Market is segmented on the basis of grade, end-use, sales channel, and region. Based on grades, the market is divided into Pipe Grade, Fitting Grade, Sheeting Grade, and Adhesive Grade. The Pipe grade segment is expected to dominate the market in the forecast period owing to its resistance properties followed by the increasing demand from the construction sector.

On the basis of end-uses, the CPVC market is segmented 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 likely to boost the CPVC market in the upcoming years due to the number of industrial plant projects lined up in several countries.

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From an environmental point of view, chlorinated PVC is one of the most sustainable piping and fittings options for those looking to optimize energy consumption and meet industry environmental standards as CPVC is 100% recyclable and has low petroleum content.

In 2020, due to the unprecedented outbreak of COVID-19, Several businesses, end-use industries, and other facilities were drastically affected. There was a major decline in sales and production during the first half of 2020 due to the nationwide lockdowns and strict restrictions imposed by the leading authorities in many countries. Lack of manpower and scarcity of raw materials, mainly in pipes & fittings and power cable housing sectors, led to the reduced demand for CPVC. The market growth post-pandemic showcased an upward trend due to the increased demand for CPVC from the pipes & fittings sector.

Among different regions, the Asia Pacific region accounts for the largest share in the CPVC market around the world and is expected to maintain its dominance in the forecast period as well, owing to the growing demand for CPVC pipes in the wastewater treatment plants. Rising construction and manufacturing facilities are another major factor driving the demand for chlorinated PVC across the region. Followed by the Asia Pacific region, North America holds the second-largest share in the CPVC market.  

“Chlorinated Polyvinyl Chloride (CPVC) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, some of the major players operating in CPVC market include Lubrizol corporation, 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. 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 peaking demand for pipes and fittings across the country.

“Rapidly increasing demand for chlorinated PVC from the downstream construction industry is expected to boost the CPVC market in the upcoming years. Rising consumer demand for inexpensive, long lasting, and effective pipes and fittings is driving the CPVC market across the globe. Upcoming construction and infrastructure projects is expected to further boost the demand for chlorinated PVC resins in the future. “said Mr. Karan Chechi, Research Director with TechSci Research a research-based management consulting firm promoting ChemAnalyst worldwide.

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