Chlorinated Polyvinyl Chloride Market
Chlorinated Polyvinyl Chloride Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Chlorinated Polyvinyl Chloride Market is segmented by Grade, Form, Sales Channel, Production Process, End-Use Industry, and by Region. KDMI analyst foresees market revenue to cross USD 4.11 Billion by 2032 by growing with a CAGR of 11.1% during 2024-2032.
Chlorinated Polyvinyl Chloride Market Highlights
The global chlorinated polyvinyl chloride market is expected to cross a value of USD 4.11 billion by the end of 2032. The market was valued at USD 1.8 billion in 2023 and is expected to expand at a CAGR of 11.1% between 2024-2032.
- Over the mid-term, the expanding building and construction industry is the primary factor anticipated to drive the global chlorinated polyvinyl chloride market.
- Stringent regulations and budding environmental concerns are the major factors to challenge the market growth.
- The Asia Pacific chlorinated polyvinyl chloride market is projected to dominate the global market.
Chlorinated Polyvinyl Chloride Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 1.8 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 4.11 Billion |
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CAGR Value |
11.1% |
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Chlorinated Polyvinyl Chloride Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Chlorinated Polyvinyl Chloride Market Segmentation |
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Chlorinated Polyvinyl Chloride Market Key Players |
The Lubrizol Corporation, Sekisui Chemical Co., Ltd, Meghmani Finechem Limited, Shandong Novista Chemical Co., Ltd, Shandong Pujie Rubber &Plastic Co., Ltd, Kaneka Corporation, Shandong Yada New Material Co., Ltd., KEM ONE, Shandong Xuye New Materials Co., Ltd, DCW Limited Sundow Polymers Co., Ltd., Mitsui & Co., Ltd., and others. |
Chlorinated Polyvinyl Chloride Market Outlook
Chlorinated polyvinyl chloride, commonly abbreviated as CPVC, is represented by the chemical formula C9H11CL17. It is a thermoplastic that is produced by a process where polyvinyl chloride is chlorinated. It is remarkably more flexible and heat resistant than PVC. CPVC has common features of PVC but has some significant differences too. In the building and construction industry, CPVC pipes and fittings are widely used for plumbing, HVAC (heating, ventilation, and air conditioning) systems, and industrial applications.
The rise in residential and commercial construction activities worldwide, along with, the growing demand for reliable and durable piping solutions are some of the major factors that are expected to boost the demand for CPVC pipes and fittings, and in turn, boost the market growth of chlorinated polyvinyl chloride. As per our researchers, the global spending on construction registered near to USD 2 Trillion until December 2023. The Lubrizol Corporation, Sekisui Chemical Co., Ltd, and Meghmani Finechem Limited are some of the significant parties in the global market for chlorinated polyvinyl chloride.
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Chlorinated Polyvinyl Chloride Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global chlorinated polyvinyl chloride market are:
- Exceptional Properties and Performance of CPVC: Compared to PVC and other alternative materials that are currently available in the market, CPVC is known to offer splendid corrosion, high-temperature resistance, low thermal conductivity, and mechanical strength properties. For instance, the schedule 40 CPVC grade has a maximum working pressure of 450 psi (3,100 kPa), tensile strength of 8200 psi (57000 kPa), and a temperature limit ranging between 33 - 200◦F (1-93◦C). Alternatively, the schedule 80 grade has a maximum working pressure of 630 psi (4300 kPa), tensile strength of 8200 psi (57000 kPa), and a temperature limit ranging between 33-140◦F (1-60◦C). These properties make the CPVC very relevant for a varied range of applications including chemical processing, and industrial piping systems among others.
- Growing Need for CPVC in the Building and Construction Industry: CPVC pipes and fittings are extensively used in residential, commercial, and industrial construction projects. These products are used for plumbing, HVAC systems, and fire sprinkler installations. With the increasing number of construction projects worldwide, backed by fuelling investments for smart cities, rapid urbanization, and population growth, the demand for CPVC pipes and fittings is expected to increase, which in turn, is projected to boost the market growth. According to our researchers, the global value of exports of rigid tubes, pipes, and hoses made of polymers of vinyl chloride increased from about USD 1.240 Billion in the year 2016 to over USD 2.3 Billion in the year 2022.
Which Probable Factors Could Hamper the Growing Chlorinated Polyvinyl Chloride Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of chlorinated polyvinyl chloride are:
- Stringent Regulations and Budding Environmental Concerns: One of the major factors expected to hinder the growth of the global chlorinated polyvinyl chloride market is the rising environmental concerns regarding the production, use, and disposal of chlorinated compounds.
- Availability of Low-Cost Alternatives: The availability of low-cost thermoplastics, such as polyethylene (PE) and polypropylene (PP) poses a competitive challenge for the market players associated with chlorinated polyvinyl chloride.
How is the Global Chlorinated Polyvinyl Chloride Market Segmented?
Our experts at KD Market Insights have segmented the global chlorinated polyvinyl chloride market as:
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By Grade |
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By Form |
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By Sales Channel |
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By Production Process |
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By End-Use Industry |
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By Region |
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What are the Probable Factors Influencing the Asia Pacific Chlorinated Polyvinyl Chloride Market Forecast?
The Asia Pacific chlorinated polyvinyl chloride market is majorly driven by the rapid focus of the nations on building smart cities, supported by rapid urbanization and infrastructure development. As per our researchers, the smart city market in the Asia Pacific has grown at an unrivaled CAGR of about 25% over the past decade and is expected to account for more than half of the global spending on smart cities in the next five years. Besides this, the surge in focus on water and wastewater management, and the budding awareness for the benefits associated with CPVC among the engineers, architects, and contractors, are some of the additional factors expected to contribute to the market growth.
As per our analysts at KD Market Insights, the following five players lead the Asia Pacific chlorinated polyvinyl chloride market growth:
- KEM ONE
- Sekisui Chemical Co., Ltd.
- Finolex Industries Limited
- Astral Poly Technik Limited
- China National Chemical Corporation (ChemChina)
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Key Countries to Watch for in Asia Pacific Chlorinated Polyvinyl Chloride Market |
Key Insights |
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China Chlorinated Polyvinyl Chloride Market to Register the Largest Regional Market Share in 2032 |
USD 0.57 Million |
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India Chlorinated Polyvinyl Chloride Market to Grow with the Highest CAGR During 2024-2032 |
12.1% |
Which Key Players Top the Global Chlorinated Polyvinyl Chloride Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global chlorinated polyvinyl chloride market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with chlorinated polyvinyl chloride market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global chlorinated polyvinyl chloride market share:
- The Lubrizol Corporation
- Sekisui Chemical Co., Ltd
- Meghmani Finechem Limited
- Shandong Novista Chemical Co., Ltd
- Shandong Pujie Rubber &Plastic Co., Ltd
- Kaneka Corporation
- Shandong Yada New Material Co., Ltd.
- KEM ONE
- Shandong Xuye New Materials Co., Ltd
- DCW Limited Sundow Polymers Co., Ltd.
- Mitsui & Co., Ltd.
What are the Recent Developments Observed in the Chlorinated Polyvinyl Chloride Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global chlorinated polyvinyl chloride market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Epigral Ltd. announced that it would expand its business in the field of CPVC compounds by building a capacity of 35,000 TPA manufacturing plant in Dahej, Gujrat (India). This manufacturing plant is expected to start functioning by the 4th quarter of 2024.
Further, Aditya Birla Group’s flagship firm, Grasim Industries, announced that it would start working on a CPVC resin-manufacturing plant in association with Lubrizol India Limited. This manufacturing plant is anticipated to be the largest single-site CPVC plant globally having a production capacity of 1 Million metric tons (MT) of resin.
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- Publication date: 7th March 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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