Global Chlorinated Polyvinyl Chloride Market Size, Share & Trends Analysis Report By Grade, By Form, By Sales Channel, By Production Process, By Application, By End User, By Regional Outlook and Forecast, 2024 - 2031
The Global Chlorinated Polyvinyl Chloride Market size is expected to reach $3.2 billion by 2031, rising at a market growth of 10.8% CAGR during the forecast period. In the year 2023, the market attained a volume of 718.76 kilo tonnes, experiencing a growth of 30.3% (2020-2023).
CPVC's chemical resistance and durability make it suitable for constructing laboratory equipment such as fume hoods, cabinets, and benches. Thus, the healthcare segment acquired 12% revenue share in the market 2023. In terms of volume, 204.54 kilo tonnes of CPVC are expected to utilize in for healthcare uses by 2031. These materials provide a safe and reliable environment for handling hazardous substances and conducting experiments. As per the data from the Government of Australia, the country spent an estimated $241.3 billion on health goods and services in 2021-22 - an average of approximately $9,365 per person. Hence, these aspects will pose lucrative growth prospects for the segment.
CPVC's remarkable resistance to corrosion is a standout feature that aligns with stringent regulatory standards. Corrosion in plumbing systems compromises the structural integrity of pipes and fittings and poses risks of contamination and water quality degradation.
Additionally, one of the primary reasons for the growing adoption of CPVC in HVAC applications is its excellent thermal insulation properties. The low thermal conductivity of CPVC pipelines minimizes heat transfer between the fluid contained within and the environment at large.
However, volatility in raw material prices in the chlorinated polyvinyl chloride market is exacerbated by supply-demand dynamics, wherein fluctuations in supply and demand levels for chlorine and ethylene can influence market prices. Thus, these factors can hamper the growth of the market.
Grade Outlook
Based on grade, the market is segmented into injection grade and extrusion grade. The injection grade segment garnered 37% revenue share in the market in 2023. In terms of volume 596.39 kilo tonnes of injection grade CPVC is expected to be utilized by 2031. The growth of the construction industry, particularly in emerging economies, has created a significant demand for CPVC pipes and fittings.
Form Outlook
On the basis of form, the market is bifurcated into pellet and powder. In 2023, the powder segment witnessed 58% revenue share in the market. In terms of volume, 933.99 kilo tonnes of powder CPVC is expected to be utilized by 2031. Powder form CPVC often exhibits better processing characteristics during compounding and extrusion processes.
Sales Channel Outlook
By sales channel, the market is bifurcated into direct and indirect. The indirect segment garnered 34% revenue share in the market. In terms of volume, 545.41 kilo tonnes of CPVC are expected to be sold by indirect sale channel by 2031. This success is driven by the broad reach and accessibility that intermediaries provide.
Production Outlook
Based on production process, the market is divided into aqueous suspension method, solvent method, and solid phase method. In 2023, the solvent method segment witnessed 27% revenue share in the market. In terms of volume, 407.30 kilo tonnes of CPVC are expected to utilize in solvent method production by 2031. The solvent method offers an efficient and cost-effective way to produce CPVC.
Application Outlook
On the basis of application, the market is divided into pipes & fittings, fire sprinkler systems, power cable casing, adhesives & coatings, and others. In 2023, the power cable casing segment witnessed 11% revenue share in the market. In terms of volume 188.51 kilo tonnes of CPVC is expected to be utilized in power cable casing application by 2031. With ongoing infrastructure development projects worldwide, especially in emerging economies, the demand for power cables has surged.
End User Outlook
Based on end user, the market is divided into construction, chemical, electrical & electronics, healthcare, agriculture, and others. The construction segment recorded 31% revenue share in the market in 2023. In terms of volume, 472.44 kilo tonnes of CPVC are expected to be utilized in construction by 2031. CPVC has become a substitute for traditional materials like metal (copper, steel) and other plastics (PVC, PPR) in plumbing applications.
Regional Outlook
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired 29% revenue share in the market. In terms of volume, the region is expected to utilize 375.85 kilo tonnes of CPVC by 2030. Europe has strict regulations regarding the use of materials in various applications, especially those related to health and safety.
List of Key Companies Profiled
Shriram PolyTech Pvt Ltd.
Sekisui Chemical Co. Ltd.
Astral Limited
DCW Limited
Lubrizol Corporation (Berkshire Hathaway, Inc.)
Reliance Industries Limited
BASF SE
Hanwha Solutions Chemical Division Corporation (Hanwha Corporation)
Kaneka Corporation
Avient Corporation
Global Chlorinated Polyvinyl Chloride Market Report Segmentation
By Grade (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
Extrusion Grade
Injection Grade
By Form (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
Powder
Pellet
By Sales Channel (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
Direct
Indirect
By Production Process (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
Aqueous Suspension Method
Solid Phase Method
Solvent Method
By Application (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
Pipes & Fittings
Fire Sprinkler Systems
Adhesives & Coatings
Power Cable Casing
By End User (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
Construction
Electrical & Electronics
Chemical
Agriculture
Healthcare
Others
By Geography (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Chlorinated Polyvinyl Chloride Market, by Grade
1.4.2 Global Chlorinated Polyvinyl Chloride Market, by Form
1.4.3 Global Chlorinated Polyvinyl Chloride Market, by Sales Channel
1.4.4 Global Chlorinated Polyvinyl Chloride Market, by Production Process
1.4.5 Global Chlorinated Polyvinyl Chloride Market, by Application
1.4.6 Global Chlorinated Polyvinyl Chloride Market, by End User
1.4.7 Global Chlorinated Polyvinyl Chloride Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter Five Forces Analysis
Chapter 4. Global Chlorinated Polyvinyl Chloride Market by Grade
4.1 Global Extrusion Grade Market by Region
4.2 Global Injection Grade Market by Region
Chapter 5. Global Chlorinated Polyvinyl Chloride Market by Form
5.1 Global Powder Market by Region
5.2 Global Pellet Market by Region
Chapter 6. Global Chlorinated Polyvinyl Chloride Market by Sales Channel
6.1 Global Direct Market by Region
6.2 Global Indirect Market by Region
Chapter 7. Global Chlorinated Polyvinyl Chloride Market by Production Process
7.1 Global Aqueous Suspension Method Market by Region
7.2 Global Solid Phase Method Market by Region
7.3 Global Solvent Method Market by Region
Chapter 8. Global Chlorinated Polyvinyl Chloride Market by Application
8.1 Global Pipes & Fittings Market by Region
8.2 Global Fire Sprinkler Systems Market by Region
8.3 Global Adhesives & Coatings Market by Region
8.4 Global Power Cable Casing Market by Region
8.5 Global Others Market by Region
Chapter 9. Global Chlorinated Polyvinyl Chloride Market by End User
9.1 Global Construction Market by Region
9.2 Global Electrical & Electronics Market by Region
9.3 Global Chemical Market by Region
9.4 Global Agriculture Market by Region
9.5 Global Healthcare Market by Region
9.6 Global Others Market by Region
Chapter 10. Global Chlorinated Polyvinyl Chloride Market by Region
10.1 North America Chlorinated Polyvinyl Chloride Market
10.1.1 North America Chlorinated Polyvinyl Chloride Market by Grade
10.1.1.1 North America Extrusion Grade Market by Region
10.1.1.2 North America Injection Grade Market by Region
10.1.2 North America Chlorinated Polyvinyl Chloride Market by Form
10.1.2.1 North America Powder Market by Country
10.1.2.2 North America Pellet Market by Country
10.1.3 North America Chlorinated Polyvinyl Chloride Market by Sales Channel
10.1.3.1 North America Direct Market by Country
10.1.3.2 North America Indirect Market by Country
10.1.4 North America Chlorinated Polyvinyl Chloride Market by Production Process
10.1.4.1 North America Aqueous Suspension Method Market by Country
10.1.4.2 North America Solid Phase Method Market by Country
10.1.4.3 North America Solvent Method Market by Country
10.1.5 North America Chlorinated Polyvinyl Chloride Market by Application
10.1.5.1 North America Pipes & Fittings Market by Country
10.1.5.2 North America Fire Sprinkler Systems Market by Country
10.1.5.3 North America Adhesives & Coatings Market by Country
10.1.5.4 North America Power Cable Casing Market by Country
10.1.5.5 North America Others Market by Country
10.1.6 North America Chlorinated Polyvinyl Chloride Market by End User
10.1.6.1 North America Construction Market by Country
10.1.6.2 North America Electrical & Electronics Market by Country
10.1.6.3 North America Chemical Market by Country
10.1.6.4 North America Agriculture Market by Country
10.1.6.5 North America Healthcare Market by Country
10.1.6.6 North America Others Market by Country
10.1.7 North America Chlorinated Polyvinyl Chloride Market by Country
10.1.7.1 US Chlorinated Polyvinyl Chloride Market
10.1.7.1.1 US Chlorinated Polyvinyl Chloride Market by Grade
10.1.7.1.2 US Chlorinated Polyvinyl Chloride Market by Form
10.1.7.1.3 US Chlorinated Polyvinyl Chloride Market by Sales Channel
10.1.7.1.4 US Chlorinated Polyvinyl Chloride Market by Production Process
10.1.7.1.5 US Chlorinated Polyvinyl Chloride Market by Application
10.1.7.1.6 US Chlorinated Polyvinyl Chloride Market by End User