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Chlorinated Polyvinyl Chloride (CPVC) Market Size, Share, Analyst and Forecast 2035
The Chlorinated Polyvinyl Chloride (CPVC) market witnessed significant growth by reaching 3.2 million tonnes in 2020 and is expected to achieve an impressive CAGR of 5.83% in the span of the next ten years.
Chlorinated Polyvinyl Chloride, also referred to as CPVC, is a thermoplastic produced from a chlorination reaction of Polyvinyl Chloride (PVC) resin. The Chlorine is responsible for the higher temperature performance and enhanced fire resistance of CPVC. Polyvinyl Chloride and Chlorine react through a free radical mechanism via different approaches using thermal and/or UV energy. Chlorinated Polyvinyl Chloride shares excellent resistance to degradation and provides a lifelong service. CPVC possesses versatile properties such as high chemical, temperature, and pressure resistance, which makes it a good product to utilize in a wide range of industrial and commercial applications. It is demonstrably inert to salts, acids, bases, and aliphatic hydrocarbons, which commonly eat away all metals. The growing demand for inexpensive and durable CPVC pipes and fittings is augmenting the chlorinated PVC industry worldwide. The increasing construction activities in several regions is driving the demand for chlorinated PVC pipes and fittings, further propelling its market around the world. Chlorinated PVC resin is infused with additives that enhance its properties while easing its processability.
The CPVC Market is segmented on the basis of grade, end-use, sales channel, and region. Based on grades, the market is divided into Pipe Grade, Fitting Grade, Sheeting Grade, and Adhesive Grade. The Pipe grade segment is expected to dominate the market in the forecast period owing to its resistance properties followed by the increasing demand from the construction sector.
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Some of the major players operating in CPVC market include Lubrizol corporation, BASF SE, Shandong Xiangsheng, Supreme Industries Limited, Finolex Industries Limited, Sekisui Chemical, Novista group, KEM one, New Materials Technology, Kaneka Corporation, Hangzhou Electrochemical Group Co. ltd., Jiangsu Tianteng Chemical Industry, and others.