Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Global 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 - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the CPVC market size was USD 1.6 billion in 2022 and is expected to reach USD 2.7 billion by 2028, at a CAGR of 11.1% between 2023 and 2028
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall CPVC market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This growth is driven by the increasing demand for CPVC from plumbing systems, fire protection, chemical & industrial equipment, and other end-use applications. The demand for CPVC has been challenged by pre-existing regulatory issues and environmental concerns surrounding recycling. However, it recovered in 2021. The construction, industrial, and other industries have resumed manufacturing activities and are now recovering from the pandemic effect, resulting in growing demand for CPVC.
The market growth in the North American region can be attributed to the rise in residential construction activities and construction spending. For instance, Eleven Park Mixed-Use Complex is one of the large projects in the US that involves the construction of a mixed-use complex in Indianapolis, Indiana, US. Construction work commenced in Q2 2023 and is expected to finish in Q4 2027.
The project aims to provide better residential facilities. It will improve the quality of the place in Indianapolis by creating an entirely new neighbourhood that will help attract and retain quality workers and families. Such developments are fueling the CPVC market in the region.
The extrusion grade segment is the fastest-growing grade segment of CPVC in terms of value and volume.
Based on the grade, the CPVC market has been segmented into extrusion grade and injection grade. During forecasted years, the extrusion grade segment is forecasted to register the highest CAGR. CPVC extrusion is mainly used to create continuous, long shapes, whereas CPVC injection grade is used to manufacture shorter CPVC products. The grade of CPVC mainly refers to the polymer characteristics such as chemical resistance, impact strength, heat resistance, and others.
The pellet form segment is the second-fastest growing form of CPVC in terms of both, value and volume.
During the forecasted years, pellet form is expected to grow with a significant CAGR during forecasted years. Pellet CPVC is widely used for producing small, customized products that meet specific end-user requirements, in addition to long continuous products like sheets and pipes. To make CPVC products from pellets, an injection molding process is utilized.
The Indirect sales segment is the second-fastest growing sales channel of CPVC in terms of both, value and volume.
Indirect distribution involves third parties, like warehouses, wholesalers, and retailers, focusing on their core business while outsourcing distribution to an expert. Sales through distributors involve purchasing raw materials from manufacturers or suppliers, breaking them into smaller units, and selling them to multiple customers while ensuring prompt delivery. Distributors benefit customers by giving them pricing updates and suppliers by providing knowledge of numerous customers.
The Solid phase segment is the fastest growing production process of CPVC in terms of both, value and volume.
The solid phase method involves the chlorination of PVC in a solid state. The PVC resin is combined with a chlorine source and subjected to heat in a reactor. The reaction occurs within the solid PVC matrix, leading to CPVC formation. This method offers better control over the chlorination process and produces CPVC with specific properties suitable for various applications.
The Fire protection systems segment is the third-fastest-growing application segment of CPVC in terms of both value and volume.
CPVC pipes and components have a continued demand for use in fire protection systems in residential and other light-hazard settings. The advantages are straightforward: the material is cheaper and offers quicker and safer assembly than metal alternatives because installers do not need flame or heavy equipment to join components. It is sturdy and reliable, has a 50-year life expectancy, and is resistant to corrosion and deposits that could block water flow. Due to its superior corrosion resistance at high temperatures, CPVC is suited for self-supporting constructions at temperatures up to 200F (93.3C).
The industrial segment is the second-fastest-growing end-use industry segment of CPVC in terms of both value and volume.
CPVC plays a vital role in various industrial sectors. It finds applications in electronics, wherein its chemical resistance protects components. In the chemical industry, the ability of CPVC to withstand corrosive chemicals ensures safe transportation. In pharmaceuticals, it maintains its integrity when exposed to pharmaceutical substances, and in the food industry, it handles hot liquids and corrosive substances. Attributes such as chemical resistance, thermal stability, and durability make CPVC an indispensable material across these industries, contributing to safety, efficiency, and product quality.
The report provides insights on the following pointers:
- Analysis of key drivers (Growing construction industry), restraints (high material cost), opportunities (retrofitting and upgrading of existing infrastructure), and challenges (supply chain disruptions and consumer spending patterns) influencing the growth of the CPVC market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the CPVC market
- Market Development: Comprehensive information about lucrative markets - the report analyses the CPVC market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the CPVC market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like 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), and others among others in the CPVC market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 236 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2028 | $2.7 Billion |
| Compound Annual Growth Rate | 11.1% |
| Regions Covered | Global |
Company Profiles
- Avient Corporation
- Dcw Limited
- En-Door
- Hangzhou Electrochemical Group Co. Ltd.
- Hanwha Solutions
- Jiangsu Tianteng Chemical Co. Ltd.
- Kaneka Corporation
- Kem One
- Kunshan Maijisen Composite Materials Co. Ltd.
- Meghmani Finechem Limited
- Mitsui & Co. Ltd.
- Sekisui Chemical Co. Ltd.
- Shandong Gaoxin Chemical Co. Ltd.
- Shandong Ketian Chemical Co. Ltd.
- Shandong Pujie Rubber & Plastic Co. Ltd.
- Shandong Xuye New Materials Co. Ltd.
- Shangdong Novista Chemical Co. Ltd.
- Shangdong Yada New Material Co. Ltd.
- Shanghai Chlor-Alkali Chemical Co. Ltd.
- Sundow Polymers Co. Ltd.
- The Lubrizol Corporation
- Via Chemical Co. Ltd.
- Weifang Yada Plastic Co. Ltd.
- Zhongtai Import & Export Corporation
For more information about this report visit https://www.researchandmarkets.com/r/5tl5mh
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