The Global Chlorinated Polyvinyl Chloride Market size is expected to reach $3.2 billion by 2031, rising at a market growth of 10.8% CAGR during the forecast period. In the year 2023, the market attained a volume of 718.76 kilo tonnes, experiencing a growth of 30.3% (2020-2023).
CPVC's chemical resistance and durability make it suitable for constructing laboratory equipment such as fume hoods, cabinets, and benches. Thus, the healthcare segment acquired 12% revenue share in the market 2023. In terms of volume, 204.54 kilo tonnes of CPVC are expected to utilize in for healthcare uses by 2031. These materials provide a safe and reliable environment for handling hazardous substances and conducting experiments. As per the data from the Government of Australia, the country spent an estimated $241.3 billion on health goods and services in 2021-22 - an average of approximately $9,365 per person. Hence, these aspects will pose lucrative growth prospects for the segment.
CPVC's remarkable resistance to corrosion is a standout feature that aligns with stringent regulatory standards. Corrosion in plumbing systems compromises the structural integrity of pipes and fittings and poses risks of contamination and water quality degradation.
Additionally, one of the primary reasons for the growing adoption of CPVC in HVAC applications is its excellent thermal insulation properties. The low thermal conductivity of CPVC pipelines minimizes heat transfer between the fluid contained within and the environment at large.
However, volatility in raw material prices in the chlorinated polyvinyl chloride market is exacerbated by supply-demand dynamics, wherein fluctuations in supply and demand levels for chlorine and ethylene can influence market prices. Thus, these factors can hamper the growth of the market.
CPVC's chemical resistance and durability make it suitable for constructing laboratory equipment such as fume hoods, cabinets, and benches. Thus, the healthcare segment acquired 12% revenue share in the market 2023. In terms of volume, 204.54 kilo tonnes of CPVC are expected to utilize in for healthcare uses by 2031. These materials provide a safe and reliable environment for handling hazardous substances and conducting experiments. As per the data from the Government of Australia, the country spent an estimated $241.3 billion on health goods and services in 2021-22 - an average of approximately $9,365 per person. Hence, these aspects will pose lucrative growth prospects for the segment.
CPVC's remarkable resistance to corrosion is a standout feature that aligns with stringent regulatory standards. Corrosion in plumbing systems compromises the structural integrity of pipes and fittings and poses risks of contamination and water quality degradation.
Additionally, one of the primary reasons for the growing adoption of CPVC in HVAC applications is its excellent thermal insulation properties. The low thermal conductivity of CPVC pipelines minimizes heat transfer between the fluid contained within and the environment at large.
However, volatility in raw material prices in the chlorinated polyvinyl chloride market is exacerbated by supply-demand dynamics, wherein fluctuations in supply and demand levels for chlorine and ethylene can influence market prices. Thus, these factors can hamper the growth of the market.
Driving and Restraining Factors
Drivers- Stringent regulations favoring CPVC in plumbing systems
- Shift towards energy-efficient HVAC systems
- Growing demand for PVC products in the construction industry
- Issues related to volatility in raw material prices
- Challenges regarding competition from alternative materials
- Increasing focus on water conservation and sustainable solutions
- Technological advancements driving product innovation
- Concerns about limited awareness and education
- Technical challenges and performance limitations
Sales Channel Outlook
By sales channel, the market is bifurcated into direct and indirect. The indirect segment garnered 34% revenue share in the market. In terms of volume, 545.41 kilo tonnes of CPVC are expected to be sold by indirect sale channel by 2031. This success is driven by the broad reach and accessibility that intermediaries provide.Grade Outlook
Based on grade, the market is segmented into injection grade and extrusion grade. The injection grade segment garnered 37% revenue share in the market in 2023. In terms of volume 596.39 kilo tonnes of injection grade CPVC is expected to be utilized by 2031. The growth of the construction industry, particularly in emerging economies, has created a significant demand for CPVC pipes and fittings.Form Outlook
On the basis of form, the market is bifurcated into pellet and powder. In 2023, the powder segment witnessed 58% revenue share in the market. In terms of volume, 933.99 kilo tonnes of powder CPVC is expected to be utilized by 2031. Powder form CPVC often exhibits better processing characteristics during compounding and extrusion processes.
Production Outlook
Based on production process, the market is divided into aqueous suspension method, solvent method, and solid phase method. In 2023, the solvent method segment witnessed 27% revenue share in the market. In terms of volume, 407.30 kilo tonnes of CPVC are expected to utilize in solvent method production by 2031. The solvent method offers an efficient and cost-effective way to produce CPVC.Application Outlook
On the basis of application, the market is divided into pipes & fittings, fire sprinkler systems, power cable casing, adhesives & coatings, and others. In 2023, the power cable casing segment witnessed 11% revenue share in the market. In terms of volume 188.51 kilo tonnes of CPVC is expected to be utilized in power cable casing application by 2031. With ongoing infrastructure development projects worldwide, especially in emerging economies, the demand for power cables has surged.End User Outlook
Based on end user, the market is divided into construction, chemical, electrical & electronics, healthcare, agriculture, and others. The construction segment recorded 31% revenue share in the market in 2023. In terms of volume, 472.44 kilo tonnes of CPVC are expected to be utilized in construction by 2031. CPVC has become a substitute for traditional materials like metal (copper, steel) and other plastics (PVC, PPR) in plumbing applications.Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired 29% revenue share in the market. In terms of volume, the region is expected to utilize 375.85 kilo tonnes of CPVC by 2030. Europe has strict regulations regarding the use of materials in various applications, especially those related to health and safety.List of Key Companies Profiled
- Shriram PolyTech Pvt Ltd.
- Sekisui Chemical Co. Ltd.
- Astral Limited
- DCW Limited
- Lubrizol Corporation (Berkshire Hathaway, Inc.)
- Reliance Industries Limited
- BASF SE
- Hanwha Solutions Chemical Division Corporation (Hanwha Corporation)
- Kaneka Corporation
- Avient Corporation
Market Report Segmentation
By Grade (Volume, Kilo Tonnes, USD Bilion, 2020-2031)- Extrusion Grade
- Injection Grade
- Powder
- Pellet
- Direct
- Indirect
- Aqueous Suspension Method
- Solid Phase Method
- Solvent Method
- Pipes & Fittings
- Fire Sprinkler Systems
- Adhesives & Coatings
- Power Cable Casing
- Construction
- Electrical & Electronics
- Chemical
- Agriculture
- Healthcare
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Global Chlorinated Polyvinyl Chloride Market by Grade
Chapter 5. Global Chlorinated Polyvinyl Chloride Market by Form
Chapter 6. Global Chlorinated Polyvinyl Chloride Market by Sales Channel
Chapter 7. Global Chlorinated Polyvinyl Chloride Market by Production Process
Chapter 8. Global Chlorinated Polyvinyl Chloride Market by Application
Chapter 9. Global Chlorinated Polyvinyl Chloride Market by End User
Chapter 10. Global Chlorinated Polyvinyl Chloride Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- Shriram PolyTech Pvt Ltd.
- Sekisui Chemical Co. Ltd.
- Astral Limited
- DCW Limited
- Lubrizol Corporation (Berkshire Hathaway, Inc.)
- Reliance Industries Limited
- BASF SE
- Hanwha Solutions Chemical Division Corporation (Hanwha Corporation)
- Kaneka Corporation
- Avient Corporation
Methodology
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