Chlorinated Polyvinyl Chloride Market worth $2.7 billion by 2028 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 20, 2023 /PRNewswire/ -- The report "Chlorinated Polyvinyl Chloride Market by Grade (Injection, Extrusion), Form (Pellet, Powder), Sales Channel (Direct Sales, Indirect Sales), Production Process, End-use Industry (Residential, Commercial, Industrial), & Region - Global Forecast to 2028", is estimated at USD 1.6 billion in 2023 and is projected to reach USD 2.7 billion by 2028, at a CAGR of 11.1% from 2023 to 2028.

Chlorinated polyvinyl chloride (CPVC) resin is a specialized thermoplastic material derived by modifying polyvinyl chloride through the chlorination process. This modification introduces chlorine atoms into the PVC polymer chain, enhancing properties that make CPVC suitable for various applications. CPVC exhibits superior heat resistance, chemical resistance, and flame-retardant characteristics compared to traditional PVC, making it a valuable material across industries.

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294 – Tables
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The Injection grade segment is expected to account for the second-largest market share during the forecasted period.

CPVC is available in two grades, injection, and extrusion, to meet specific performance and processing requirements by various applications. Injection-grade CPVC mainly includes pellets and is widely used to manufacture fittings, flange adapters, valves, and others. Manufacturers use machines with hoppers to feed a specific amount of CPVC into the manufacturing system. This manufacturing system uses high-pressure screw to melt the CPVC and mold it into the desired shape.

The pellet form segment is expected to account for the second-largest share of the CPVC market during the forecast period in terms of value.

The CPVC market is segmented based on pellet and powder forms. CPVC pellets are solid, small, and cylindrical in shape. The pellets are used to manufacture various end-products such as fittings, valves, and many more. The pellet form CPVC is available in small cylindrical shapes as a common intermediate or raw material used to manufacture various products. During the production of PVC resin pellets, chlorination is used to enhance properties such as heat resistance, flame retardancy, and chemical resistance.

The indirect sales channel segment is expected to account for the second-largest share of the CPVC market during the forecast period in terms of value.

CPVC manufacturers opt for both direct sales and sales through distribution. The selection of sales channels depends on various factors, such as the geographic presence of the manufacturers, customers, and the targeted end-use industries. To be cost-effective in the CPVC industry, which produces products in continuous or large batches, shipments must be made in large quantities, such as truckloads or railcar loads. It is not feasible for a single supplier to meet numerous small orders from customers worldwide. Distributors provide smaller amounts of goods to newer or smaller customers who lack the resources to purchase truckloads directly from suppliers. This helps suppliers reach more people at a more affordable cost.

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The chemical & industrial equipment application segment is expected to account for the second-largest share of the CPVC market during the forecast period in terms of value.

The chemical & industrial equipment market is one of the growing application markets for CPVC. CPVC possesses superior strength, performance, and safety, making it an ideal system for industrial process applications. Traditionally, engineers and procurement professionals have relied largely on steel and other higher alloys for industrial piping. However, an overall analysis reveals that CPVC often outperforms metallic systems and is more cost-effective over a longer period. CPVC industrial piping has a smooth inner surface that resists scaling and fouling, which minimizes friction pressure losses in the fluid flow. This means that CPVC piping offers optimum flow rates, allowing more liquid to be moved using smaller pumps and less energy. Yielding an overall lower installation cost, fewer maintenance and safety concerns, and strong performance with a wide variety of chemicals, CPVC is a material that is gaining attention across various industrial applications, including corrosion-resistant components, industrial fluid handling components, and chemical processing equipment, among others.

The commercial end-use industry segment is expected to account for the second-largest share of the CPVC market during the forecast period in terms of value.

CPVC finds diverse applications in the commercial sector, offering tailored solutions for various industries. It is a cornerstone of commercial plumbing, ensuring efficient water distribution, handling hot water, and contributing to heating and cooling systems. The flame-retardant properties of CPVC make it an asset in fire protection systems, enhancing safety in commercial buildings. It finds relevance in industrial processes by safely conveying chemicals and fluids, while also playing a role in retail, hospitality, healthcare, and educational facilities. The reliability and durability of CPVC and continuous developments and innovations are pivotal in creating comfortable, safe, and efficient environments for businesses.

Europe is expected to account for the second-largest share during forecasted period.

The CPVC market in Europe includes Germany, France, the UK, Italy, Spain, and Rest of Europe. According to Euroconstruct, the construction industry in countries such as the UK, Ireland, Finland, and Switzerland witnessed an increase of nearly 5.6% in 2021 compared to 2020. This shows the development in the infrastructure activities across the European Union. Investments in infrastructure and residential construction projects are expected to drive the CPVC market in the region. Europa City is a 40-hector development project in Heidestrasse, Berlin, which is scheduled to be completed by 2026. The project will cover an area of 199,000 square meters for residential property, 355,000 square meters for offices, and 28,000 square meters for retail premises and restaurants. Such increased developments in the construction industry will drive the demand for CPVC during the forecast period.

Prominent companies in the CPVC market include The Lubrizol Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Meghmani Finechem Limited (India), Shandong Novista Chemical Co., Ltd. (China), Shandong Pujie Rubber & Plastic Co., Ltd. (China), Kaneka Corporation (Japan), Shandong Yada New Material Co., Ltd. (China), KEM ONE (France), Shandong Xuye New Materials Co., Ltd. (China), DCW Limited (India), Sundow Polymers Co., Ltd. (China), Mitsui & Co., Ltd. (Japan), Shanghai Chlor-Alkali Chemical Co., Ltd. (China), Shandong Gaoxin Chemical Co., Ltd. (China) and others.

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