Chlorinated Polyvinyl Chloride Market by Grade (Injection, Extrusion), Form (Pellet, Powder), Sales Channel (Direct Sales, Indirect Sales), Production Process, End-use Industry( Residential, Commercial, Industrial), & Region - Global Forecast to 2028
Updated on : April 03, 2024
Chlorinated Polyvinyl Chloride Market
The global chlorinated polyvinyl chloride market was valued at USD 1.6 billion in 2023 and is projected to reach USD 2.7 billion by 2028, growing at 11.1% cagr from 2023 to 2028. The chlorinated polyvinyl chloride (CPVC) resin registered high growth in the residential sector, particularly in Asia Pacific. China and India were the largest markets for CPVC resin due to its significant application in plumbing systems, fire protection, chemical & industrial equipment, and power cable casing in these countries. The CPVC market is highly competitive, with both big and small players. This section will examine drivers, restraints, opportunities, and challenges.
The CPVC market has grown significantly due to its unique properties, allowing it to address specific challenges across various applications. The market’s expansion is driven by various factors, including the growing demand for robust and reliable materials in critical sectors.
Attractive Opportunities in CPVC Market Trends
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CPVC Market Dynamics
Driver: Growth of construction industry across the globe
CPVC resin is a dependable material that's gaining popularity in construction, especially in plumbing systems, due to the industry's growth in residential and commercial sectors. CPVC’s corrosion resistance and cost-effectiveness make it an attractive choice for plumbing applications. Infrastructure modernization and urbanization fuel the construction of new buildings, commercial spaces, and residential complexes in developed and emerging economies. As construction activities surge, the need for efficient, durable, and sustainable materials becomes more pronounced.
Restraint: High processing temperature than conventional PVC
While CPVC resin offers a range of enhanced properties that make it an attractive choice for various applications, there are certain processing challenges associated with its production and utilization. Manufacturing processes can be impacted by these challenges, influencing industries considering CPVC adoption. One of the prominent challenges in working with CPVC is its higher processing temperature than conventional PVC. The chlorination process elevates the melting point of CPVC, necessitating the use of higher temperatures during extrusion, injection molding, or other shaping processes, thereby posing difficulties in maintaining precise temperature control within production machinery and molds. The elevated processing temperature of CPVC may require manufacturers to use specialized equipment capable of withstanding higher temperatures.
Opportunity: Rapid urbanization and infrastructural development
The rapid growth and evolution of infrastructure worldwide present a substantial opportunity for innovative materials that can meet the demands of modern construction and urbanization. CPVC resin is poised to capitalize on this opportunity, finding a significant role in diverse infrastructure projects.
The expansion of wastewater treatment facilities to ensure environmental sustainability necessitates the use of materials that can withstand aggressive chemicals and corrosive environments. CPVC’s chemical resistance makes it a reliable choice for conveying and treating wastewater. As urban areas expand, the importance of fire safety systems in buildings and public spaces escalates. CPVC’s flame-retardant properties and ability to withstand high temperatures make it an excellent material for fire sprinkler systems and fire protection infrastructure.
Challenge: Increase in CPVC waste and microplastic pollution
Although CPVC resin offers numerous benefits, it is essential to address potential environmental concerns associated with its use. These concerns revolve around the long-term impact of CPVC on the environment and sustainability.
Unlike standard PVC, CPVC’s chlorination process can complicate its recycling. Separating CPVC from other plastics in the recycling stream can be challenging, leading to the downcycling or disposal of CPVC waste. Proper recycling infrastructure for CPVC is limited, leading to CPVC accumulation. Chlorine or other chemicals may be emitted due to CPVC accumulation and degradation. The long-term behavior of CPVC in various environmental conditions and its potential contribution to microplastic pollution require thorough assessment.
Chlorinated Polyvinyl Chloride Market Ecosystem
Extrusion grade of CPVC to register the largest market share in the CPVC market.
CPVC powder is mostly used to manufacture continuous and long shapes such as sheets and pipes, making extrusion-grade CPVC widely preferred. CPVC powder is fed into an extruder where it is melted and pushed through a die head to form the desired shape. The material then moves through additional downstream processing equipment to correct any present disproportions. After the extrusion process, which involves the melting and shaping of CPVC material, the end products, such as sheets and pipes, are cooled, hardened, and cut to be utilized in various applications. CPVC’s extrusion process is particularly effective in creating sheets and pipes as the manufacturing machine can operate continuously as long as there is material available.
Based on form, powder segment is anticipated to register the highest CAGR in the CPVC market.
The powder form is more versatile and can be easily tailored to meet the specific needs and requirements of the end-use applications. Powder CPVC allows manufacturers to produce various products to meet end-user expectations. CPVC powder is manufactured by chlorinating PVC resin. This process results in a product that offers outstanding temperature stability, chemical resistance, and impressive flame-retardant properties. The extent of the chlorination process determines the final properties of CPVC powder. It has wide applications in coatings & linings, injection molded products, pipe and fittings, industrial piping, and others.
Based on the sales channel, direct sales segment is anticipated to account for largest market share in CPVC market.
Direct distribution is a direct-to-consumer approach where the manufacturer controls all distribution aspects. Direct sales channel is opted by CPVC manufacturers who are more focused on providing customized products to end-use markets such as industrial piping, industrial fire suppression, and industrial fluid handling components. Customers from various industries buy specific, prequalified materials directly from suppliers.
Further, in direct sales, by managing all aspects of the distribution channel, manufacturers retain more control over how goods are delivered. They can cut out inefficiencies, add new services, and set prices.
Based on the production process, aqueous suspension method is expected to dominate the CPVC market.
The aqueous suspension method is a prominent production process for chlorinated polyvinyl chloride (CPVC) resin, known for its widespread applications in various industries. This method involves suspending PVC particles in water along with a chlorine source and subsequently subjecting the mixture to chlorination. The resulting CPVC resins attain enhanced heat resistance, flame retardancy, and chemical durability, making them highly suitable for applications demanding these qualities.
Based on the applications, plumbing systems is expected to dominate the CPVC market.
CPVC has extensive applications in plumbing systems as it is used mainly in hydronic piping and distribution, hot and cold water plumbing distribution, chilled water piping, etc., together with providing durability, corrosion-resistance, toughness, design flexibility, resilience, and high performance. CPVC is utilized in plumbing systems in a wide range of applications, including industrial piping, reclaimed water piping, pool & spa piping, residential piping, fittings, valves, connectors, and manifolds, among others. The chlorine molecules in the pipe effectively block the chlorine and chloramine in the water supply from attacking the pipe, making the material immune to chlorine degradation and extending its lifespan. CPVC pipes & fittings are also virtually impermeable and are not subject to unsafe leaching.
Based on the end-use industry, residential segment is anticipated to register the highest CAGR in the CPVC market
CPVC plays a crucial role in the residential application by providing durable and efficient plumbing solutions. It is extensively used in plumbing systems, delivering corrosion resistance and the ability to handle hot and cold water. CPVC ensures consistent water flow, facilitates hot water distribution, and connects appliances and fixtures securely. It also contributes to fire safety due to its flame-retardant properties in fire sprinkler systems. The versatility of CPVC extends to outdoor plumbing, water heater connections, and more, making it a material that enhances the reliability and convenience of residential plumbing systems.
Asia Pacific to hold the largest market share of CPVC market during the forecast period.
The increasing production of CPVC to cater to the domestic requirements of the residential, commercial, and industrial sectors is fueling the demand for CPVC in the region. The population growth and the growing number of end-use industries in Asia Pacific have also led to the growth of the CPVC market. An increasing number of construction projects, such as the Beijing New International Airport (China) and the South to North Water Transfer Project (China), are set up in the region. The region is estimated to be the most populated in the world, which creates opportunities for the growth of residential and commercial projects and, thereby, the CPVC market.
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Chlorinated Polyvinyl Chloride Market Players
The CPVC market is dominated by a few globally established players such as The Lubrizol Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Meghmani Finechem Limited (India), Shandong Novista Chemical Co., Ltd. (China), Shandong Pujie Rubber & Plastic Co., Ltd. (China), Kaneka Corporation (Japan), Shandong Yada New Material Co., Ltd. (China), KEM ONE (France), Shandong Xuye New Materials Co., Ltd. (China), DCW Limited (India), Sundow Polymers Co., Ltd. (China), Mitsui & Co., Ltd. (Japan), Shanghai Chlor-Alkali Chemical Co., Ltd. (China), and Shandong Gaoxin Chemical Co., Ltd. (China) among others, are the key manufacturers that secured major contracts in the last few years. The major focus was given to the contracts and new product development due to the changing requirements across the world.
These companies are pursuing a variety of inorganic and organic strategies in order to gain a foothold in the CPVC market. The research includes a detailed competitive analysis of these key players in the CPVC market, including recent developments, company profiles, and key market strategies.
Read More: Chlorinated Polyvinyl Chloride Companies
Chlorinated Polyvinyl Chloride Market Report Scope
Report Metric |
Details |
Market Size Value in 2023 |
USD 1.6 billion |
Revenue Forecast in 2028 |
USD 2.7 billion |
CAGR |
11.1% |
Market size available for years |
2018–2028 |
Base year considered |
2022 |
Forecast period |
2023–2028 |
Units considered |
Value (USD billion/million), Volume (Kiloton) |
Segments Covered |
By Grade, By Form, By Sales Channel, By Production Process, By Application, By End-use Industry, and By Region |
Geographies covered |
Europe, North America, Asia Pacific, Latin America, the Middle East, and Africa |
Companies covered |
The Lubrizol Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Meghmani Finechem Limited (India), Shandong Novista Chemical Co., Ltd. (China), Shandong Pujie Rubber & Plastic Co., Ltd. (China), Kaneka Corporation (Japan), Shandong Yada New Material Co., Ltd. (China), KEM ONE (France), Shandong Xuye New Materials Co., Ltd. (China), DCW Limited (India), Sundow Polymers Co., Ltd. (China), Mitsui & Co., Ltd. (Japan), and others. |
The study categorizes the CPVC market based on type, application, end-use industry, and region.
Chlorinated Polyvinyl Chloride Market by Grade:
- Injection Grade
- Extrusion Grade
Chlorinated Polyvinyl Chloride Market by Form:
- Pellet Form
- Powder Form
Chlorinated Polyvinyl Chloride Market by Sales Channel:
- Direct Sales
- Indirect Sales
Chlorinated Polyvinyl Chloride Market by Production Process:
- Aqueous Suspension Method
- Solvent Method
- Solid Phase Method
Chlorinated Polyvinyl Chloride Market by Application:
- Plumbing Systems
- Fire Protection Systems
- Chemical & Industrial Equipment
- Power Cable Casing
- Adhesives & Coatings
- Others
Chlorinated Polyvinyl Chloride Market by End-use Industry:
- Residential
- Commercial
- Industrial
Chlorinated Polyvinyl Chloride Market by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Recent Developments
- In June 2023, The Lubrizol Corporation announced an investment of more than USD 150 million across several projects dedicated to its wide portfolio in India. Through this, the company is focusing on opening India’s largest CPVC resin production plant in Gujarat.
- In December 2022, DCW Limited announced its plans to expand the production of CPVC resin in India by commissioning a new manufacturing unit in the country.
- In December 2021, Apollo announced that it completed the acquisition of KEM ONE. This acquisition is helping KEM ONE to pursue its growth strategy and execution of growth plans. With its significant knowledge and successful track record, Appollo plans to leverage the knowledge along with the investment platform to support KEM ONE.
- In July 2021, Meghmani Finechem Limited expanded its CPVC production facility by setting up a new plant in Dahej, Gujarat. This plant has a production capacity of 30 KT per annum.
- In October 2020, The Lubrizol Corporation announced a partnership with Grasim Industries Limited, a flagship company belonging to the Aditya Birla Group. This partnership aims to manufacture and supply CPVC resin across India.
Frequently Asked Questions (FAQ):
Which are the major companies in the CPVC market? What are their major strategies to strengthen their market presence?
Some of the key players in the CPVC market are The Lubrizol Corporation (US), Sekisui Chemical Co., Ltd. (Japan), Meghmani Finechem Limited (India), Shandong Novista Chemical Co., Ltd. (China), Shandong Pujie Rubber & Plastic Co., Ltd. (China), and Kaneka Corporation (Japan) are some of the key manufacturers that secured expansions, acquisitions, and deals in the last few years.
What are the drivers and opportunities for the CPVC market?
The versatile properties of CPVC such as resistance to chemicals and high temperatures, and growing applications in various end-use industries can be a driver and opportunity, respectively.
Which region is expected to hold the highest market share?
In 2022, Asia Pacific dominated the global CPVC market, showcasing strong demand for CPVC from this region.
What is the total CAGR expected to be recorded for the CPVC market during 2023-2028?
The CAGR is expected to record a CAGR of 11.1% from 2023-2028.
How is the CPVC market aligned?
The market is growing at a significant pace. The market is a potential market, and many manufacturers are planning business strategies to expand their existing business. .
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The study involves two major activities in estimating the current market size for the CPVC market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering CPVC and information from various trade, business, and professional associations. The secondary data was collected and analyzed to arrive at the overall size of the CPVC market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the CPVC market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from CPVC industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the CPVC industry, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of CPVC and future outlook of their business which will affect the overall market.
The Breakup of Primary Research :
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COMPANY NAME |
DESIGNATION |
The Lubrizol Corporation |
Product Development Head |
Sekisui Chemical Co., Ltd. |
Operations Manager |
Kaneka Corporation |
R&D Head |
Shandong Novista Chemicals Co., Ltd |
Sales Head |
Market Size Estimation
The research methodology used to estimate the size of the CPVC market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations in CPVC in different type applications of the CPVC at a regional level. Such procurements provide information on the demand aspects of the CPVC industry for each application. For each application, all possible segments of the CPVC market were integrated and mapped.
CPVC Market Size: Bottom-Up Approach
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CPVC Market Size: Top-Down Approach
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Chlorinated polyvinyl chloride (CPVC) is a thermoplastic polymer derived from polyvinyl chloride (PVC) through chlorination. The CPVC market encompasses diverse applications across construction, plumbing, fire protection, chemical processing, industrial equipment, and other industries. Manufacturers in this market employ different processes to produce CPVC resins used in pipes, fittings, valves, sheets, and other components.
Key Stakeholders
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Report Objectives
- To define, describe, segment, and forecast the size of the global CPVC based on grade, form, sales channel, production process, application, end-use industry, and region
- To forecast the market size of segments with respect to various regions, including North America, Europe, Asia Pacific, Latin America, Middle East & Africa, along with major countries in each region
- Europe, Asia Pacific, Latin America, Middle East & Africa, along with major countries in each region restraints, opportunities, and challenges) influencing the growth of the market
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the CPVC market
- To analyze technological advancements and product launches in the market
- To strategically analyze micro markets with respect to their growth trends, prospects, and their contribution to the market
- To identify financial positions, key products, and key developments of leading companies in the market
- To provide a detailed competitive landscape of the market, along with a market share analysis
- To provide a comprehensive analysis of business and corporate strategies adopted by the key players in the market
- To strategically profile key players in the market and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the CPVC market
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company's market
Growth opportunities and latent adjacency in Chlorinated Polyvinyl Chloride Market