Press release
Chlorinated Polyvinyl Chloride Market to Reach USD 10.03 Billion by 2031.
Chlorinated Polyvinyl Chloride Market
The global chlorinated polyvinyl chloride market is estimated to reach over USD 10.03 billion by 2031, exhibiting a CAGR of 7.69% during the forecast period.
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Chlorinated Polyvinyl Chloride is a thermoplastic homopolymer made from polyvinyl chloride resin that has undergone a chlorination process. PVC is given increased temperature performance and improved fire resistance by adding chlorine. The need for chlorinated PVC pipes and fittings is anticipated to increase due to the world's population growth and industrialization, which will further boost the CPVC market in the upcoming years. Every type of piping material and product affects the environment. The acquisition of the raw materials needed to construct different kinds of piping, the use of energy to make the piping, and the disposal of the material once it is finished are some of these environmental repercussions. The fact that CPVC is more environmentally friendly than other plastics will present a massive potential for CPVC producers. Although CPVC has many performance benefits, including exceptional corrosion resistance, ease of installation, and numerous other safety advantages, it has some drawbacks and limitations for different applications.
List of Prominent Players in the Chlorinated Polyvinyl Chloride Market:
• Shandong Xiangsheng New Materials Technology Co., Ltd.
• Sundow Polymers Co., Ltd
• Via Chemical Co., Ltd.,
• ASTRAL LIMITED
• Grasim Industries Limited
• DCW Ltd., KANEKA CORPORATION,
• PolyOne Corporation
• Reliance Industries Ltd
• Hangzhou Electrochemical Group Co., Ltd.
• Shandong Pujie Plastic and Rubber Co.Ltd.
• BASF SE
• Shandong Tianchen Chemical Co., Ltd.
• Shriram PolyTech
• SEKISUI CHEMICAL CO., LTD.
• Shandong Repolyfine Additives Co., Ltd.
• The Lubrizol Corporation
• Jiangsu Tianteng Chemical Industry Co., Ltd.
• Meghmani Finechem Limited
• KEM ONE,
• Hanwha Solutions
• Shandong Novista Chemicals Co., Ltd
• MITSUI & CO., LTD.
• Kunshan Maijisen Composite Materials Co., Ltd
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Market Dynamics:
Drivers-
A water supply and distribution piping system mounted on walls or ceilings makes up a fire sprinkler system. In the event of a fire outbreak, it is activated once the sprinkler head reaches the activation temperature and sprays high-pressure water over the flames to put them out. These systems have become more well-liked recently in the housing, healthcare, and transportation industries. Additionally, many insurance companies are providing incentives for installing these systems, which has increased their sales internationally. One of the essential materials used in the construction of fire sprinklers is CPVC. Fire sprinklers and their fittings are joined together by CPVC using a special solvent cement that can be applied on-site by any installation with some basic instruction using inexpensive, everyday materials.
Challenges:
The CPVC resin sector is concerned about safety standards and the resulting costs. Numerous of its raw ingredients, as well as its byproducts, may be dangerous at some point while being manufactured and transported. The life cycle of CPVC exposes people to serious health risks from corrosive, poisonous, or gaseous compounds, particularly vinyl chloride, dioxin, and hydrochloric acid. High temperatures, high pressures, and reactions that can be harmful if not adequately managed are commonly present during manufacturing processes. Additionally, they include limitations on the circumstances under which specific compounds may be carried. These rules have increased costs and limited production in the sector.
Regional Trends:
The Asia-Pacific region is anticipated to grow strongly during the projection period. The growth in construction activity and urbanization in developing nations like China and India are the main drivers of the chlorinated polyvinyl chloride market. In addition, rising demand for CPVC pipes in wastewater treatment facilities is projected to boost market expansion in the following years. In addition, the region's market is expanding due to numerous manufacturers, including GEON Performance Solutions, Grasim Industries, Hanwha Solutions, Kaneka, Mitsui & Co., Ltd., and others.
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Recent Developments:
• In August 2021, Onefit CPVC piping systems with Corzan® CPVC Technology were introduced by Pipes and Fittings Limited (PPFL), an Indian provider of multi-polymer piping solutions, in collaboration with Lubrizol, the leading producer of CPVC compounds in the world.
• In December 2019, Three chlorinated polyethylene application systems, including the chlorinated polyethylene reinforced filling design, the chlorinated polyethylene plasticizing system, and the chlorinated polyethylene durable protection system, were introduced by Panjin Changrui Chemical Industry Co., Ltd.
Segmentation of Chlorinated Polyvinyl Chloride Market -
By Application-
• Pipes and Fittings
• Fire Sprinkler Systems
• Power Cable Casing
• Adhesives and Coatings
• Others
By End-user Industry-
• Construction
• Chemical
• Electrical and Electronics
• Healthcare
• Agriculture
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
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