The India Chlorinated Polyvinyl Chloride (CPVC) market has reached approximately 160 thousand tonnes in FY2023 and is anticipated to grow at a healthy CAGR of 7.22% by FY2032. A joint venture between Grasim Industries Ltd. and Lubrizol India Pvt. Ltd. is anticipated to begin operations at Vilayat, Gujarat, in FY2025. This venture is anticipated to have a 100 thousand tonnes per annum manufacturing capacity. Reliance Industries Ltd. is also developing a CPVC plant with an annual capacity of 70 thousand tonnes per annum capacity is anticipated to be operational by FY2026.
Chlorinated polyvinyl chloride is known as CPVC. It is a thermoplastic made from PVC resin that has been chlorinated. In order to make the resin more receptive to processing, other additives are also added to the resin. These additives could include lubricants, colors, impact modifiers, stabilizers, and impact modifiers. Chlorinated polyvinyl chloride has a number of other advantages, including high strength, temperature resistance, stretchability, resistance to corrosion, efficient insulation, heat resistance, and lightweight. CPVC provides more strength for sustaining wires with heavy loads. It is applied to electrical products and used to hide exposed wiring in homes and workplaces. In addition, it is utilized for electrical busbars, track light fittings, electrical items, and electronic components including wire ways, switches, and others.
Increased demand for pipes in the building and construction and irrigation sectors is the main driver driving the CPVC pipe market in India. In addition, the government's increased attention to rural water management increases India's need for pipes. Additionally, the use of CPVC fire sprinkler systems is authorized in properties like schools, residence halls, offices, churches, hospitals, and other facilities. Additionally, CPVC can be utilized to create coatings and adhesives that resist corrosion. Moreover, the growing demand for electronics with rapid modernization across the nation is anticipated to augment market growth. The Chlorinated Polyvinyl Chloride (CPVC) market volume is estimated to reach approximately 300 thousand tonnes by FY2032.
Based on region, the Indian Chlorinated Polyvinyl Chloride (CPVC) Market is segregated into North, South, East, and West. West India is leading the market and held about 38% of the market in FY2023. Western states like Gujarat and Maharashtra have numerous plastic product manufacturers located in these regions. To fulfill the growing demand of CPVC across India, two new plants are upcoming, one being a joint venture between Grasim Industries Ltd. and Lubrizol India Pvt. Ltd and the second plant by Reliance Industries Ltd.
Based on grade, the CPVC market is segregated into Pipe & Fitting (Extrusion) Grade, Adhesive Grade, and Sheathing Grade. Although, the Pipe & Fitting (Extrusion) Grade dominates the India CPVC market and was holding a market share of about 89% in FY2023 and is anticipated to stay so in the forecast period.
Based on end-use, the India Chlorinated Polyvinyl Chloride (CPVC) market is segregated 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 are dominating the India Chlorinated Polyvinyl Chloride (CPVC) market. This segment held roughly 50% of the Chlorinated Polyvinyl Chloride (CPVC) market in FY2023. This industry is expected to continue to dominate during the forecast period due to a surge in demand for fittings for irrigation purposes.
Major players in the India Chlorinated Polyvinyl Chloride (CPVC) market are Meghmani Fine Chem ltd. DCW Ltd., Reliance Industries Ltd., Grasim Industries & Lubrizol India Pvt. Ltd., and others. Major players in the 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., and Others.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2032
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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 India.
• To analyse and forecast the market size of Chlorinated Polyvinyl Chloride (CPVC) in India.
• To classify and forecast India Chlorinated Polyvinyl Chloride (CPVC) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Chlorinated Polyvinyl Chloride (CPVC) market in India.
To extract data for India 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 India Chlorinated Polyvinyl Chloride (CPVC) market over the coming years.
ChemAnalyst calculated Chlorinated Polyvinyl Chloride (CPVC) demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Chlorinated Polyvinyl Chloride (CPVC) 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, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India 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 FY2022
170 thousand tonnes
Market size Volume by FY2032
300 thousand tonnes
Growth Rate
CAGR of 7.22% from FY2024 to FY2032
Base year for estimation
FY2024
Historic Data
FY2015 – FY2023
Forecast period
FY2025 – FY2032
Quantitative units
Demand in thousand tonnes and CAGR from FY2024 to FY2032
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
Segments covered
By End-Use: (Hot Water pipes/fittings, Industrial pipes/fittings, Fire Sprinkler pipes/fittings, Underground pipes for housing power cables, and Others)
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What was the India market size of Chlorinated Polyvinyl Chloride (CPVC) in terms of volume in FY2022?
Ans:
The India market size of Chlorinated Polyvinyl Chloride (CPVC) in terms of volume stood at approximately 170 thousand tonnes in FY2022.
Q2.
Which industry is dominating the India Chlorinated Polyvinyl Chloride (CPVC) market?
Ans:
As of FY2023, Hot Water pipes/fittings is dominating the Chlorinated Polyvinyl Chloride (CPVC) market in India with an estimated share of roughly 50%.
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