H1 2023: In H1 2023, the major players in the global Chlorinated Polyvinyl Chloride (CPVC) market were Lubrizol Advanced Materials, Kaneka Corporation, and Hanwha Chemical Corporation. However, based on the production capacity, Lubrizol Advanced Materials topped the chart in H1 2023. In June 2023, Grasim industries announced that it will begin the construction of a new CPVC plant later in the year 2023. Lubrizol Advanced Materials had investment USD 150 million in association with Grasim Industries Ltd for the construction of new CPVC plant situated at Dahej, India. In H1 2023, based on volume, Asia Pacific was the leading the CPVC market. In Asia, CPVC prices showed an upward trend from January 2023 to March 2023 backed up by reasons like limited inventories and competition in the market. Demand for CPVC surged as the manufacturers faced high input cost pressures amid along with fluctuation in the oil prices in Asia Pacific region. However, purchases lowered in late March 2023. The rise in demand from the building industry in May 2023 resulted in a price increase in China. The CPVC market saw an increase in May 2023 and then a drop in the product's price trend during June. Key factors influencing CPVC prices include the hike in demand from the construction of the residential sector in the Indian market The increase in price was primarily attributed to improvement in downstream demand as consumer purchasing activities increased significantly, despite a slow economic recovery in the overall Asian market. In June, fall in the prices of crude oil led to lowering of the production costs and overall reduction in the market price of CPVC in China.
The global Chlorinated Polyvinyl Chloride (CPVC) market demand stood at 800 thousand tonnes in 2022 and is expected to grow at a CAGR of 5.73% during the forecast period until 2032. A 100 thousand tonnes per annum manufacturing capacity joint venture between Grasim Industries Ltd. and Lubrizol India Pvt. Ltd. is anticipated to begin operations at Vilayat, Gujarat, India in 2025. Reliance Industries Ltd. is also developing a CPVC plant. The plant is anticipated to be operational by 2026.
Chlorinated Polyvinyl Chloride (CPVC) is a versatile polymer. Polyvinyl chloride is chlorinated to produce chlorinated polyvinyl chloride. It is a polymer with thermoplastic properties and has exceptional corrosion resistance. Additionally, it exhibits a good deal of thermal stability. It has a greater than average tolerance to acid and alkali. Chlorinated polyvinyl chloride can be fabricated and welded together and displays excellent thermomechanical performance. Applications for chlorinated polyvinyl chloride include pipes and fittings, fire sprinkler systems, adhesives, coatings, etc. CPVC occurs in the form of rods, sheets, and tubes. CPVC is suitable for self-supporting buildings at temperatures up to 200°F due to its excellent corrosion resistance at high temperatures. Its flexibility allows its usage in a wide range of applications, including cleaners, tanks, and ventilation systems.
Due to its electrical insulation, reusability, resistance to corrosion, and waterproofing qualities, CPVC is widely used for various applications but primarily for manufacturing pipes & fittings. The demand for affordable and durable CPVC pipes and fittings is fueling the global chlorinated polyvinyl chloride market. CPVC pipes are cheaper than steel pipes, more durable, and display resistance towards water and abrasion due to which they are suitable for residential and industrial applications. Furthermore, the growing demand for pipes and sprinklers for irrigation purposes in farms further contributes towards market expansion. The increasing use of fire sprinklers and higher safety requirements are projected to drive growth in the global chlorinated polyvinyl chloride (CPVC) market in the upcoming years. The Chlorinated Polyvinyl Chloride (CPVC) Market is expected to grow at a significant rate over the forecast period owing to its vast applications and reach a volume of 1400 thousand tonnes by 2032.
Based on region, the Asia Pacific is dominating the Chlorinated Polyvinyl Chloride (CPVC) market. In 2022, Asia Pacific held demand of approximately 60% of the global Chlorinated Polyvinyl Chloride (CPVC) market. Additionally, the growing demand for CPVC in the building and industrial sectors significantly fuels the expansion of this market in the Asia Pacific region. The Chlorinated Polyvinyl Chloride (CPVC) market is anticipated to grow during the forecast period due to impelling demand from end-use industries such as Building & Construction sectors. As of 2022, China has been the leading producer of Chlorinated Polyvinyl Chloride (CPVC) among the other regions of the globe.
Based on grade, the Chlorinated Polyvinyl Chloride (CPVC) market is segregated into Pipe & Fitting (Extrusion) Grade, Adhesive Grade, and Sheathing Grade. Although, the Pipe & Fitting (Extrusion) Grade dominates the global CPVC market and was holding a market share of nearly 84% in 2022.
Based on the end-user industry, the global Chlorinated Polyvinyl Chloride (CPVC) market is segmented into Hot Water pipes/fittings, Industrial pipes/fittings, Fire Sprinkler pipes/fittings, Underground pipes for housing power cables, and Others. Among these, Hot Water pipes/fittings industry is dominating the Global Chlorinated Polyvinyl Chloride (CPVC) market. This segment held roughly 50% of the Chlorinated Polyvinyl Chloride market in 2022.
Major players in the production of Global Chlorinated Polyvinyl Chloride (CPVC) are Lubrizol Advanced Materials, Kaneka Corporation, Sekusei Chemicals Co Ltd, Hanwha Chemical Corporation, Shandong Xiangsheng New Materials Technology Co., Ltd., Evonik Industries, Hangzhou Electrochemical New Material Co. Ltd., Shandong Gaoxin Chemicals Co.Ltd, Novista Group, Shangdong Yada New Material Co Ltd., Sundow Polymers Co Ltd, DCW Limited, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Chlorinated Polyvinyl Chloride (CPVC) which covers production, demand and supply of Chlorinated Polyvinyl Chloride (CPVC) market in the globe.
• To analyse and forecast the market size of Chlorinated Polyvinyl Chloride (CPVC)
• To classify and forecast Global Chlorinated Polyvinyl Chloride (CPVC) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Chlorinated Polyvinyl Chloride (CPVC) market in the globe.
To extract data for Global Chlorinated Polyvinyl Chloride (CPVC) market, primary research surveys were conducted with Chlorinated Polyvinyl Chloride (CPVC) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Chlorinated Polyvinyl Chloride (CPVC) market over the coming years.
ChemAnalyst calculated Chlorinated Polyvinyl Chloride (CPVC) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Chlorinated Polyvinyl Chloride (CPVC). ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Chlorinated Polyvinyl Chloride (CPVC) manufacturers and other stakeholders
• Organizations, forums and alliances related to Chlorinated Polyvinyl Chloride (CPVC) distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Chlorinated Polyvinyl Chloride (CPVC) manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Chlorinated Polyvinyl Chloride (CPVC) market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
800 thousand tonnes
Market size Volume by 2032
1400 thousand tonnes
Growth Rate
CAGR of 5.73% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Grade, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Hot Water pipes/fittings, Industrial pipes/fittings, Fire Sprinkler pipes/fittings, Underground pipes for housing power cables, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was global market size of Chlorinated Polyvinyl Chloride (CPVC) in terms of volume in 2022?
Ans:
The global market size of Chlorinated Polyvinyl Chloride (CPVC) has grown significantly in the historical years and reached approximately 800 thousand tonnes in 2022.
Q2.
Which region is leading as a consumer of Chlorinated Polyvinyl Chloride (CPVC)?
Ans:
Asia Pacific is the leading consumer of Chlorinated Polyvinyl Chloride (CPVC), which consumed roughly 60% of the global Chlorinated Polyvinyl Chloride (CPVC) in 2022.
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