Press release
Key Trends Reshaping the Chlorinated Polyvinyl Chloride (CPVC) Market: Joint Venture To Enhance High-Performance Resin Production And Sustainability In Asia Industry Transformation
Chlorinated Polyvinyl Chloride (CPVC)
Chlorinated Polyvinyl Chloride (CPVC) Market Size Growth Forecast: What to Expect by 2025?
The market size of chlorinated polyvinyl chloride (CPVC) has seen a robust expansion in the recent years. The anticipated progression is from $4.6 billion in 2024 to $5.02 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. This significant development during the historic period is due to enhanced usage in piping and plumbing, the growing construction sector, versatile processing capabilities, substitution of metal pipes, as well as its application in the water treatment industry and its cost-effectiveness.
How Will the Chlorinated Polyvinyl Chloride (CPVC) Market Size Evolve and Grow by 2029?
Anticipated robust growth in the ensuing years is projected for the chlorinated polyvinyl chloride (CPVC) market, with an estimated size of "$7.2 billion by 2029, rising at a compound annual growth rate (CAGR) of 9.4%. Several factors contributing to the growth within the forecast period include concentrated efforts for water efficiency, a booming oil and gas sector, an increase in hydronic heating systems, and demand from chemical processing plants and sustainable construction practices. Noteworthy trends expected to surface within the forecast period consist of advances in CPVC production technology, its integration into existing plumbing systems, old-fashioned piping materials, sustainability and environmental considerations, and breakthroughs in the formulations of CPVC.
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What Drivers Are Propelling the Growth of Chlorinated Polyvinyl Chloride (CPVC) Market Forward?
The growth of the chlorinated polyvinyl chloride market is anticipated to be driven by an increase in the number of building and construction activities. The term "building and construction projects" encompasses the systematic approach to building, refurbishing, retrofitting or altering a built asset or structure. Chlorinated polyvinyl chloride is predominantly utilized in these projects due to its multiple attributes such as durability, flexibility, ability to resist chemicals, and capacity to withstand high temperatures. It is primarily used in plumbing systems of residential and commercial buildings. It also effectively manages industrial liquids and hot and cold water supply pipelines. For example, the Office for National Statistics (ONS), a government agency in the UK, reported that the construction output saw a growth of 1.0% over the three months up to August 2024, mainly because of a 1.7% hike in new work. Consequently, the surge in building and construction activities is fuelling the expansion of the chlorinated polyvinyl chloride market.
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Which Emerging Trends Are Transforming the Chlorinated Polyvinyl Chloride (CPVC) Market in 2025?
One emerging trend in the chlorinated polyvinyl chloride market is the focus on technological innovation. Leading companies in this sector are striving to enhance their market foothold by collaborating on advanced solutions. In November 2023, for instance, Lubrizol, an American specialty chemicals firm, partnered with Grasim, an Indian producer of cellulosic fibres, diversified chemicals, fashion yarn and fabrics, to open a CPVC resin plant. The aim of this plant is to boost the production of high-quality chlorinated polyvinyl chloride to satisfy the increasing needs in plumbing, construction, and industrial sectors. The cutting-edge facility will embrace sophisticated technologies to streamline manufacturing processes with a focus on sustainability. The alliance is designed to fortify the supply chain of CPVC products across Asia and further afield, delivering customers with inventive, robust solutions that adhere to strict quality protocols.
What Are the Key Segments in the Chlorinated Polyvinyl Chloride (CPVC) Market?
The chlorinated polyvinyl chloride (CPVC) market covered in this report is segmented -
1) By Production Process: Solvent Method, Aqueous Suspension Method, Solid Phase Method, Other Production Process
2) By Grade: Injection Grade, Extrusion Grade
3) By Application: Pipes And Fittings, Fire Sprinkler Systems, Power Cable Casing, Adhesives And Coatings, Other Applications
4) By End User Industry: Construction, Chemical, Electrical And Electronics, Healthcare, Agriculture, Other End User Industries
Subsegments:
1) By Solvent Method: Chlorination In Organic Solvents, Batch Chlorination Process
2) By Aqueous Suspension Method: Suspension Polymerization, Aqueous Chlorination
3) By Solid Phase Method: Solid-State Chlorination, Direct Chlorination
4) By Other Production Process: Continuous Production Methods, Hybrid Production Techniques
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Who Are the Key Players Shaping the Chlorinated Polyvinyl Chloride (CPVC) Market's Competitive Landscape?
Major companies operating in the chlorinated polyvinyl chloride (CPVC) market include Lubrizol Corporation, Jiangsu Tianteng Chemical Industry Co. Ltd., Sekisui Chemical Co. Ltd., Sundow Polymers Co. Ltd., Hanwha Solutions Corporation, Astral Ltd., Shandong Repolyfine Additives 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, Gaoxin Chemical Co. Ltd., Yuyao XiangSheng Plastic Co. Ltd., Shanghai Chlor-Alkali Chemical Co. Ltd., Tianchen Chemical Co.Ltd., Arkema SA
What Geographic Markets Are Powering Growth in the Chlorinated Polyvinyl Chloride (CPVC) Market?
Asia-Pacific was the largest region in the Chlorinated polyvinyl chloride market in 2024. 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
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