Global Chlorinated Polyvinyl Chloride (CPVC) Market Size is Poised to Surpass USD 9.21 Billion by 2030 with a 7.04% CAGR
[228 + Pages Report] According to a market research study published by Zion Market Research, the demand analysis of Global Chlorinated Polyvinyl Chloride (CPVC) Market size & share revenue was valued at around USD 5.35 billion in 2022 and is estimated to grow about USD 9.21 billion by 2030, at a CAGR of approximately 7.04% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Sekisui Chemical Co. Ltd., Lubrizol Corporation, Finolex Industries Limited, Kaneka Corporation, Charlotte Pipe and Foundry, Kem One, IPEX Inc., Ashirvad Pipes, Jain Irrigation Systems Ltd., Astral Pipes Limited, NIBCO Inc., Georg Fischer Piping Systems, Tyco Fire Products LP, Viking Group Inc., Prince Pipes and Fittings Ltd., and others.
New York, NY, Sept. 26, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Chlorinated Polyvinyl Chloride (CPVC) Market By End-User Industry (Industrial Pipes & Fittings, Hot Water Pipes & Fittings, Underground Pipes For Housing Power Cables, Fire Sprinkler Pipes & Fittings, And Others), By Type (CPVC Resin And CPVC Compound), By Grade (Adhesive Grade, Extrusion Grade, And Sheathing Grade), By Price (Specialty Pipes And Standard Pipes), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Chlorinated Polyvinyl Chloride (CPVC) Market size & share in terms of revenue was valued at USD 5.35 billion in 2022 and it is expected to surpass around USD 9.21 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 7.04% during the forecast period 2023 to 2030.”
What is Chlorinated Polyvinyl Chloride (CPVC)? How big is the Chlorinated Polyvinyl Chloride (CPVC) Industry?
The global chlorinated polyvinyl chloride (CPVC) market size was worth around USD 5.35 billion in 2022 and is predicted to grow to around USD 9.21 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.04% between 2023 and 2030.
The chlorination of polyvinyl chloride (PVC) resin is the first step in the production of chlorinated polyvinyl chloride (CPVC). This material can be heated and molded. PVC, on the other hand, is a solid that is brittle and white in color. It finds widespread application in the fields of transportation, construction, packaging, healthcare, and electronics or electrical work. The flexibility of CPVC exceeds that of polyvinyl chloride. Additionally, it is able to survive severe weather conditions, such as temperatures that are significantly greater. The primary use of chlorinated polyvinyl chloride is in the construction of systems that distribute hot and cold water, as well as in the management of industrial liquids of variable temperatures.
The manufacturing of chlorinated polyvinyl chloride (CPVC) involves the chlorination of PVC via a reaction involving free radical chlorination. The amount of chlorine that is supplied into the reaction is dependent on the production technique; for example, the mass of the base can range from as little as 56.7% to as much as 74% of the total. The reaction, on the other hand, includes a number of different additives that make it possible for the foundational components to become more receptive as the reaction proceeds. Impact modifiers, stabilizers, lubricants, and pigments are some of the types of additives that are utilized. The market for CPVC is expanding at a consistent pace, and it is anticipated that this pattern will continue in the years to come.
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Global Chlorinated Polyvinyl Chloride (CPVC) Market: Growth Factors
The expansion of applications in the commercial and industrial sectors is driving the growth of the market.
The global market for chlorinated polyvinyl chloride (CPVC), which is a very versatile thermoplastic, is expected to expand as a result of an increase in the number of applications for this product in the expanding construction and commercial industries. Because it is able to maintain its excellent performance even when subjected to temperatures that are very high, CPVC is one of the materials that is utilized the most frequently throughout the building process of water distribution systems. Due to the fact that it possesses this quality, it is an excellent choice for use in the construction of pipelines that supply hot water to residential, commercial, and industrial establishments. According to the research, it is able to withstand temperatures of up to 176 degrees Celsius provided the supply is maintained continuously. The temperature can be raised even higher for applications that last for a shorter period of time; however, prolonged exposure is not advised.
CPVC is a highly adaptable material, which is another benefit of using it. Additionally, it is utilized in the production of as well as the installation of roofing, flooring, window profiles, and insulation units. As a result of the consistent growth of the global population, there has been an increase in the level of demand for residential units. In addition, the construction sector is bustling with projects for the expansion of infrastructure, many of which involve the construction of enormous commercial units. With the completion of the Surat Diamond Bourse in 2023, the state of Gujarat in India became the location of the largest office in the world. This was made possible by the establishment of a marketplace for the trading of precious gemstones. Over 65,000 diamond industry workers have their needs met by the facility, which was constructed on a space measuring 7.1 million square feet.
Adapting to shifting environmental conditions in order to increase CPVC consumption
CPVC is an extremely long-lasting polymer. It is not affected by severe climatic conditions in any way. End-user verticals are actively seeking materials that demonstrate endurance in the face of adverse weather and environmental circumstances as a result of the influence that global warming and climate change are having on the environment. The environment is becoming more hostile as a result of these two factors. In the years to come, it is anticipated that this will assist the chlorinated polyvinyl chloride (CPVC) business in becoming more popular.
Market Trends for Chlorinated Polyvinyl Chloride (CPVC): Limiting Factors
Concerns about the effects that the production of CPVC has on the environment could stifle market expansion.
It is possible that increased worries about the environmental impact of the manufacture and disposal of chlorinated polyvinyl chloride (CPVC) would limit the growth of the worldwide chlorinated polyvinyl chloride market. In addition, it is well-established that the primary component of CPVC, which is PVC, is a pollutant that is extremely harmful to the natural environment. It is common knowledge that the process of chlorinating PVC produces byproducts that are poisonous, and chlorine is an essential component of this process. Toxic chemical additions, such as cadmium, lead, phthalates, and organotins, are an inherent part of the production process for PVC. These compounds can provide significant threats to one’s health, particularly in the case of youngsters. Because of its convoluted chemical makeup, CPVC is notoriously difficult to recycle. All of these considerations operate against the widespread use of CPVC, and they will continue to do so unless manufacturers devise a method for the disposal of chlorinated PVC that is more effective while also reducing the creation of harmful substances as byproducts.
Opportunities Available in the Chlorinated Polyvinyl Chloride (CPVC) Market
boosting spending on the construction of new CPVC manufacturing plants in order to generate new chances for growth
It is anticipated that increasing expenditures would result in the development of new and more productive manufacturing sites, which will be beneficial to the growth of the chlorinated polyvinyl chloride industry. This includes the formation of strategic relationships and alliances among CPVC providers from around the world. According to the Guinness World Records, a Moroccan business called FIRST PLASTICS successfully constructed the world’s strongest CPVC pipe in March of 2023. The Lubrizol Corporation, the most successful manufacturer and investor in the CPVC industry in the world, made the announcement in March 2019 that it will be forming a partnership with Ashirvad Pipes. This latter company has been an innovator in the provision of unique solutions across a variety of industries, including agriculture, plumbing, high-rise construction, and fire protection. The firms have collaborated on the launch of BlazeMaster® CPVC Fire Protection Systems’ fittings and BlazeMaster® pipes, both of which have been designed specifically with Fire Protection Systems in mind. The fact that CPVC complies with practically all international regulations that regulate the end-user application of the material and the rapidly expanding rate of technical innovation in the market are both additional aspects that may contribute to the growth of the demand for CPVC.
The Problems Facing the Chlorinated Polyvinyl Chloride (CPVC) Market
Constant volatility in the prices of raw materials will be a hindrance to market growth
The high degree of fluctuation in raw material pricing is likely to present difficulties for the growth trend seen in the CPVC business. The availability of raw materials is a critical factor in the production of chlorinated polyvinyl chloride (CPVC). However, the supply chain is extremely subject to influences from the outside world, such as the geopolitical environment and the economic position of the countries that are dealing with one another. The fluctuating rate of supply of raw materials has the potential to have an effect on CPVC manufacturing. This is because these factors are fast shifting in today’s modern times, particularly as a result of the creation of new alliances as more countries focus on emerging nations.
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|Market Size in 2022||USD 5.35 billion|
|Projected Market Size in 2030||USD 9.21 billion|
|CAGR Growth Rate||7.04% CAGR|
|Key Market Players||Sekisui Chemical Co. Ltd., Lubrizol Corporation, Finolex Industries Limited, Kaneka Corporation, Charlotte Pipe and Foundry, Kem One, IPEX Inc., Ashirvad Pipes, Jain Irrigation Systems Ltd., Astral Pipes Limited, NIBCO Inc., Georg Fischer Piping Systems, Tyco Fire Products LP, Viking Group Inc., Prince Pipes and Fittings Ltd., and others.|
|Key Segment||By End-User Industry, By Type, By Grade, By Price, and By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Purchase Options||Request customized purchase options to meet your research needs. Explore purchase options|
Chlorinated Polyvinyl Chloride (CPVC) Market: Segmentation Analysis
The chlorinated polyvinyl chloride (CPVC) market on a global scale is divided into distinct submarkets based on the end-user, type, application, and price of the product.
Industrial pipes and fittings, hot water pipes and fittings, underground pipes for housing power cables, fire sprinkler pipes and fittings, and other pipes and fittings make up the various end-user-based sectors of the global market for pipes and fittings. The section of the market devoted to hot water pipes and fittings experienced the most rapid expansion in 2022. It owned more than 50.1% of the total market share, which was driven by the significant investments made in the construction industry for both residential and commercial buildings. CPVC is the material of choice for housing units’ water supply lines because of its capacity to tolerate greater temperatures. Water supply is one of the basic demands of every housing unit. It is possible that increased growth would be seen during the predicted period as a result of the growing demand for residential space in emerging nations.
CPVC resin and CPVC compound are the two sub-industries that fall under the umbrella of the chlorinated polyvinyl chloride industry.
The adhesive grade, the extrusion grade, and the sheathing grade are the three sub-segments that make up the sheathing grade of the global market. The extrusion grade market was the most lucrative in 2022. This market deals with CPVC that is used for pipe and fitting. It accounted for an overwhelming majority of 84.5% of the overall segmental revenue. The fundamental driving forces are increased investments in new manufacturing sites as well as the development of current facilities, developing international collaborations, and an increasing demand for high-performance pipes and fittings in contemporary residences.
The chlorinated polyvinyl chloride market is split into two categories, speciality pipes and regular pipes, determined by the price of the product.
The global Chlorinated Polyvinyl Chloride (CPVC) market is segmented as follows:
By End-User Industry
- Industrial Pipes & Fittings
- Hot Water Pipes & Fittings
- Underground Pipes for Housing Power Cables
- Fire Sprinkler Pipes & Fittings
- CPVC Resin
- CPVC Compound
- Adhesive Grade
- Extrusion Grade
- Sheathing Grade
- Specialty Pipes
- Standard Pipes
Browse the full “Chlorinated Polyvinyl Chloride (CPVC) Market By End-User Industry (Industrial Pipes & Fittings, Hot Water Pipes & Fittings, Underground Pipes For Housing Power Cables, Fire Sprinkler Pipes & Fittings, And Others), By Type (CPVC Resin And CPVC Compound), By Grade (Adhesive Grade, Extrusion Grade, And Sheathing Grade), By Price (Specialty Pipes And Standard Pipes), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030″ Report At https://www.zionmarketresearch.com/report/chlorinated-polyvinyl-chloride-cpvc-market
Some of the main competitors dominating the global Chlorinated Polyvinyl Chloride (CPVC) market include –
- Sekisui Chemical Co. Ltd.
- Lubrizol Corporation
- Finolex Industries Limited
- Kaneka Corporation
- Charlotte Pipe and Foundry
- Kem One
- IPEX Inc.
- Ashirvad Pipes
- Jain Irrigation Systems Ltd.
- Astral Pipes Limited
- NIBCO Inc.
- Georg Fischer Piping Systems
- Tyco Fire Products LP
- Viking Group Inc.
- Prince Pipes and Fittings Ltd.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Chlorinated Polyvinyl Chloride (CPVC) market is likely to expand at a CAGR of around 7.04% during the forecast period (2023-2030).
- In terms of revenue, the Chlorinated Polyvinyl Chloride (CPVC) market size was valued at around US$ 5.35 billion in 2022 and is projected to reach US$ 9.21 billion by 2030.
- The chlorinated polyvinyl chloride market is projected to grow at a significant rate due to the increasing application in the construction & business sector.
- Based on end-user industry segmentation, hot water pipes & fittings were predicted to show maximum market share in the year 2022
- Based on grade segmentation, extrusion grade was the leading segment in 2022.
- On the basis of region, Asia-Pacific was the leading revenue generator in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Chlorinated Polyvinyl Chloride (CPVC) industry?
- What are the main driving factors propelling the Chlorinated Polyvinyl Chloride (CPVC) Market forward?
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- What segments does the Chlorinated Polyvinyl Chloride (CPVC) Market cover?
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- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By End-User Industry, By Type, By Grade, By Price, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Asia-Pacific to dominate with the highest CAGR during the assessment period
The global chlorinated polyvinyl chloride (CPVC) market will be led by Asia-Pacific during the forecast period as in 2022, it controlled around 60.2% of the global market revenue. The primary reason for higher regional growth is the presence of a robust CPVC manufacturing ecosystem in countries such as India and China. The former is home to some of the largest manufacturers of CPVC and products derived from it including pipe and fitting solutions from several end-user verticals. India is spending heavily in promoting further production of the crucial material.
In August 2023, Epigral Ltd., an integrated chemical manufacturer based in India, announced its entry into the chlorinated polyvinyl chloride compounds segment. The company has commissioned the construction of a production facility with a capacity of 35000 tonnes per annum (TPA) and the site is expected to be functional by the fourth quarter of fiscal year 2024. In July 2022, the company was manufacturing 30000 TPA of CPVC resin. On the other hand, Ashirvad Pipes is the world’s largest seller of CPVC pipes and fittings working at a capacity of 2,00,000 million tonnes per annum.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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