Chlorinated Polyvinyl Chloride (CPVC) Global Market Report 2024

The chlorinated polyvinyl chloride (cpvc) market has grown strongly in recent years. It will grow from $4.21 billion in 2023 to $4.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth observed in the historical period can be attributed to various factors, including the increased utilization of chlorinated polyvinyl chloride (CPVC) in piping and plumbing applications. This growth aligns with the expansion of the construction industry, where CPVC has proven to be versatile in processing and a viable replacement for traditional metal pipes. Additionally, the CPVC market has experienced increased adoption in the water treatment industry, driven by its cost-effective alternative compared to other materials.

The chlorinated polyvinyl chloride (cpvc) market is expected to see strong growth in the next few years. It will grow to $6.47 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated expansion during the forecast period can be ascribed to a heightened emphasis on water efficiency, the burgeoning oil and gas industry, an upsurge in hydronic heating systems, increased demand in chemical processing plants, and the adoption of sustainable construction practices. Key trends expected in the forecast period encompass technological advancements in chlorinated polyvinyl chloride (CPVC) production, seamless integration into plumbing systems, displacement of traditional piping materials, a growing focus on sustainability and environmental considerations, and ongoing advancements in CPVC formulations.

The chlorinated polyvinyl chloride market is poised for growth, driven by a notable increase in building and construction projects. These projects encompass various planned activities, including construction, renovation, refurbishment, retrofitting, or modification of structures and other assets. Chlorinated polyvinyl chloride, prized for its flexibility, durability, chemical resistance, and adeptness in managing high temperatures in plumbing systems for both residential and commercial buildings, plays a pivotal role in these endeavors. Additionally, its applications extend to handling industrial liquids and serving in hot and cold-water supply pipelines. As of July 2021, data from the UK's Department for Levelling Up, Housing, and Communities (DLUHC) reveals a 4% growth in the construction of residential structures and houses to 49,470 in the UK from 2020 to 2021. In London, building and construction saw a substantial 18% increase in 2021, reaching 14,530 compared to the preceding year. This upswing in building and construction projects underscores the driving force behind the chlorinated polyvinyl chloride market's expansion.

The anticipated growth of the chlorinated polyvinyl chloride market is further fueled by the ongoing trend of urbanization. Urbanization denotes the process whereby populations shift from rural to urban or metropolitan areas, contributing to the growth and expansion of cities. Chlorinated polyvinyl chloride (CPVC) plays a pivotal role in various urbanization contexts, including water distribution systems, infrastructure piping, construction of urban buildings, as well as renovation and retrofitting projects. As of April 2023, data from The World Bank, a US-based international financial organization, indicates that approximately 56% of the global population resides in urban areas, with projections indicating a 1.5 times increase in the global urban population, reaching 6 billion by the year 2045. This surge in urbanization serves as a key driver for the growth of the chlorinated polyvinyl chloride market.

The chlorinated polyvinyl chloride market is witnessing a significant trend towards technological advancements, with major industry players actively investing in the development of innovative solutions. Companies are strategically focusing on enhancing their market position through the introduction of advanced technologies. Notably, in August 2021, Prince Pipes and Fittings Limited (PPFL), an Indian plastic pipe manufacturing company, collaborated with Lubrizol, a US-based CPVC compound manufacturer, to launch Prince OneFit with Corzan. This novel CPVC technology, based on Corzan CPVC technology, offers high-performance piping capabilities, enabling the transportation of harsh chemicals at elevated temperatures without corrosion concerns. It presents a cost-effective alternative to metal pipes and boasts resistance to internal and external corrosion, heat, UV radiation, flame, smoke, pressure, and impact.

Prominent players in the chlorinated polyvinyl chloride market are also actively introducing innovative products such as green CPVC cement. This specialized adhesive, formulated for use with CPVC pipes and fittings in plumbing applications, addresses the need for efficient and reliable bonding. For instance, in March 2022, Oatey Co., a US-based manufacturer of solvent cements, launched the 'FlowGuard High Contrast 1-Step Medium Green CPVC Cement.' This distinctive adhesive features a vivid color designed to help professional installers easily identify solvent-welded CPVC connections, especially against contrast yellow pipes.

In August 2022, Wavin B.V., a leading Netherlands-based manufacturer specializing in ground plastic pipe and fitting systems, successfully completed the acquisition of Bow Plumbing Group Inc. The financial details of the transaction were not disclosed. This strategic move is part of Wavin B.V.'s overarching objective to enhance its product portfolio and capitalize on its global presence and innovation capabilities, thereby contributing to the advancement of sustainable urban and residential development. Bow Plumbing Group Inc., based in Canada, is recognized for its expertise in manufacturing plastic pipes and fittings, including chlorinated polyvinyl chloride (CPVC), ABS, and PVC products tailored for both residential and commercial construction applications.

Major companies operating in the chlorinated polyvinyl chloride (cpvc) market report are Lubrizol Corporation, Jiangsu Tianteng Chemical Industry Co. Ltd., Sekisui Chemical Co. Ltd., Sundow Polymers Co. Ltd., Hanwha Solutions Corporation, Astral Ltd., Shandong Novista Chemicals Co. Ltd., Shandong Repolyfine Additives Co. Ltd., Shandong Tianchen Chemical Co. Ltd., Shriram PolyTech Ltd., GEON Performance Solutions, Henan Bingo Pipeline Co. Ltd., Petron Thermoplast LLP, Diamond Plastics Corporation, Kaneka Corporation, Shandong Xiangsheng New Materials Technology Co. Ltd., Charlotte Pipe and Foundry Company, IPEX Inc., BASF SE, Kem One SAS, Novealis Holdings LLC, Polyone Corporation, Jiangsu Days Teng Chemical Co. Ltd., Nanya Plastics Corporation, Panjin Changrui Chemical Industry Co. Ltd., Formosa Plastics Corporation, Axiall Corporation (Westlake Chemical Corporation), Gaoxin Chemical Co. Ltd., Shandong Xuye New Materials Co.Ltd., Yuyao XiangSheng Plastic Co. Ltd., Shanghai Chlor-Alkali Chemical Co. Ltd., Tianchen Chemical Co.Ltd., Arkema SA.

Asia-Pacific was the largest region in the Chlorinated polyvinyl chloride market in 2023. The regions covered in the chlorinated polyvinyl chloride (cpvc) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the chlorinated polyvinyl chloride (cpvc) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary production processes for chlorinated polyvinyl chloride (CPVC) include the solvent method, aqueous suspension method, solid phase method, and others. The solvent method involves dissolving a specific substance from a mixture using a solvent while leaving other substances undissolved. This method comprises injection grade and extrusion grade processes and finds applications in various sectors, including pipes and fittings, fire sprinkler systems, power cable casing, adhesives, and coatings. The key end-user industries for CPVC encompass construction, chemical, electrical and electronic, healthcare, agriculture, and more.

The chlorinated polyvinyl chloride (CPVC) market research report provides chlorinated polyvinyl chloride (CPVC) market statistics, including chlorinated polyvinyl chloride (CPVC) industry global market size, regional shares, competitors with a chlorinated polyvinyl chloride (CPVC) market share, detailed chlorinated polyvinyl chloride (CPVC) market segments, market trends and opportunities, and any further data you may need to thrive in the chlorinated polyvinyl chloride (CPVC) industry. This chlorinated polyvinyl chloride (CPVC) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The chlorinated polyvinyl chloride (CPVC) market consists of the sale of resin, industrial sheets, coatings, pipes, and adhesives. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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