Global Chlorinated Polyvinyl Chloride (CPVC) Market Insights Forecasts to 2032

• The Global Chlorinated Polyvinyl Chloride (CPVC) Market Size was valued at USD 4.63 Billion in 2022.
• The Market is Growing at a CAGR of 8.82% From 2022 to 2032
• The Worldwide Chlorinated Polyvinyl Chloride (CPVC) Market Size is expected to reach USD 10.78 Billion by 2032
• Asia Pacific is expected to grow the fastest during the forecast period.

The Global Chlorinated Polyvinyl Chloride (CPVC) Market Size is expected to reach USD 10.78 Billion by 2032, at a CAGR of 8.82% during the forecast period 2022 to 2032.

Chlorinated polyvinyl chloride (CPVC) is a polymer made of chlorinating polyvinyl chloride resin. PVC material has undergone chlorination with the use of free radicals in the chlorination reaction known as chlorinated polyvinyl chloride (CPVC). This reaction is often triggered by the introduction of heat or ultraviolet (UV) radiation via a variety of methods. Depending on the process, variable amounts of chlorine are injected into the polymeric material, allowing for precise fine-tuning of the final qualities.  Various compounds are additionally incorporated into the thermoplastic resin in order to aid in making the substance more processable. Stabilizers, impact modifiers, pigments, and lubricants are some examples of additives used in the manufacturing process of CPVC. Chlorinated polyvinyl chloride (CPVC) has demonstrated its worth in a range of industrial applications requiring high operating temperatures, high pressure, and corrosion and microbiological durability. CPVC is far more flexible than PVC and can handle greater temperatures. Hot and cold-water distribution pipelines, as well as industrial liquid handling, are examples of this product's applications. CPVC, like PVC, is considered safe for transporting and using potable water. It serves as insulation for electrical items as well as covering exposed wire in homes and offices. It's also utilized for electrical conduit, electrical busbars, track-mounted lighting fittings, and electrical devices and electronic equipment like wire way and electric switches.

Driving Factors

The rapidly increasing global construction industry is likely to fuel significant demand for the CPVC market. The increasing usage of CPVC in a variety of applications across sectors is expected to drive up worldwide demand for chlorinated polyvinyl chloride. Particularly among the most common uses for CPVC is in fire sprinklers. Rising safety concerns and stringent regulations, as well as rising fire-sprinkling demand, are propelling the chlorinated polyvinyl chloride market further. Furthermore, because of its excellent insulation from electricity, versatility, durability against corrosion, and waterproofing properties, CPVC is employed extensively for a variety of applications, but largely for the production of pipes and fittings. The overall chlorinated polyvinyl chloride market is being driven by the demand for low-cost, long-lasting CPVC pipes and fittings. CPVC pipes are less expensive than pipes made from steel, more durable, and more resistant to water and erosion, making them suited for household and industrial uses. Additionally, the increased need for irrigation systems and sprinklers in agricultural operations is expected to contribute to market expansion. The growing use of fire sprinklers and increased safety standards are expected to fuel the development of the global chlorinated polyvinyl chloride (CPVC) market over the forecast period. In commercial and industrial environments, CPVC is utilized in a variety of different uses such as the HVAC system, refrigeration systems, chemical feeds, metal extraction, pretreatment (softening) to provide water, boiler feed systems, and several more. As a result, the increasing use of CPVC pipes over metal pipes in fire protection sprinkler systems is likely to boost the chlorinated polyvinyl chloride market over the estimated time frame.

Restraining Factors        

However, the expensive price of CPVC can negatively impact the market's consistent expansion. In addition, the increasing cost of maintaining and repairing leaks and damage associated with chlorinated polyvinyl chloride pipes is yet another obstacle limiting the future expansion of the chlorinated polyvinyl chloride market. Furthermore, the readily accessible cheaper alternatives like PVC may limit the CPVC market dynamics. Polyvinyl chloride (PVC) offers similar properties to CPVC while being less expensive. Additionally, contrary to CPVC, polyvinyl chloride pipes lack the need for qualified professionals and are simple to put up without the additional use of expensive welders, assuring further cost savings.

Market Segmentation

By Grade Insights

The extrusion grade segment is witnessing significant CAGR growth over the forecast period.

On the basis of grade, the global chlorinated polyvinyl chloride (CPVC) market is segmented into injection grade and extrusion grade. Among these, the extrusion grade segment is witnessing significant CAGR growth over the forecast period. Extrusion grade CPVC is used in the production of extended, continuous shapes like sheets and piping. It is a productive method that generates sheets and pipes that can be used until an alternative product size is developed. Furthermore, the rising demand for CPVC pipes for a variety of applications is likely to sustain extrusion grade chlorinated polyvinyl chloride in demand during the research period.

By Application Insights

The pipes & fittings segment is dominating the market with the largest revenue share over the forecast period.

On the basis of application, the global chlorinated polyvinyl chloride (CPVC) market is segmented into the power cable casing, adhesives & coatings, pipes & fittings, fire sprinkler systems, and others. Among these, the pipes & fittings segment is dominating the market with the largest revenue share of 68.6% over the forecast period. The market for CPVC pipes and fittings is increasing due to its increased use in domestic and commercial uses, as well as its ability to endure higher temperatures than plastic piping systems. Because CPVC pipes and fittings are flexible non-corrosive and long-lasting, they are an ideal replacement for stainless steel and traditional pipes and fittings. CPVC pipes and fittings are perfect for supplying both cold and hot water in both household and industrial installations. They are used in water treatment facilities to convey drinking water. Furthermore, CPVC pipes and fittings are employed in the transportation of chemicals and hot abrasive fluids, such as inorganic bases and acids that are used in chemical processing.

By End-Use Industry Insights

The construction segment accounted for the largest revenue share of more than 57.2% over the forecast period.

On the basis of the end-use industry, the global chlorinated polyvinyl chloride (CPVC) market is segmented into construction, chemical, electrical & electronics, healthcare, agriculture, and others. Among these, the construction segment is dominating the market with the largest revenue share of 57.2% over the forecast period. Chlorinated polyvinyl chloride pipes, fittings, and plumbing fixtures are employed in residential, commercial, and industrial building tasks. The growing demand for CPVC is increasing as the construction industry expands. The building and construction industry is expanding due to a boom in population size, fast-growing countries such as India and China, and greater disposable incomes in developing nations. CPVC is a great alternative for all industrial and household plumbing piping. It is commonly used for underground plumbing. In comparison to Galvanized Iron (GI) pipes, which corrode and necessitate labor intensive installation processes, CPVC pipes and fittings can tolerate hot water and high pressure.

Regional Insights

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market with more than 35.7% market share over the forecast period. This dominance can be ascribed to substantial product adoption across a variety of industries, which includes power cables, coatings and adhesives, and others. The dynamic growth of the building sector in North America drives CPVC consumer demand with CPVC pipes and fittings being extensively utilized in applications in residential, commercial, and industrial settings. This region additionally enforces strict fire safety standards, which has resulted in a substantial demand for CPVC in fire suppression systems. Furthermore, North America constitutes one of the largest regions for CPVC markets, with the U.S. playing a significant role in the continued expansion of the chlorinated polyvinyl chloride market, with leading businesses such as Lubrizol Corporation, Charlotte Pipe and Foundry Company, and IPEX Inc. holding major shares of the market in the region.

Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. The rise of urbanization and increased construction activity in emerging economies such as India and China are driving the chlorinated polyvinyl chloride business. Furthermore, rising consumer demand for CPVC pipes in wastewater treatment facilities is expected to drive market expansion in the coming years. Demand for chlorinated polyvinyl chloride in Asia Pacific is driven by a booming building & construction industry, increasing urbanization, and initiatives to improve infrastructure. Emerging industrial sectors like chemical manufacturing and processing additionally boost the ongoing expansion of the chlorinated polyvinyl chloride market. Moreover, China is a major supplier and user of chlorinated polyvinyl chloride. The nation's burgeoning industrial and manufacturing industries, as well as a growing number of condominiums, are among the key variables fueling the rapid expansion of the China chlorinated polyvinyl chloride market.

The Europe market is expected to register a substantial CAGR growth rate during the forecast period. The European chlorinated polyvinyl chloride market is driven by the construction industry, especially for residential as well as commercial development efforts. The region's emphasis on energy-efficient technologies and environmentally friendly building standards are expected to boost the popularity of CPVC in plumbing systems and other uses even more.

List of Key Market Players

• Grasim Industries Limited
• DCW Ltd.
• KANEKA CORPORATION
• Polyone Corporation
• Avient Corporation
• Hanwha Solutions
• BASF SE
• KEM ONE
• The Lubrizol Corporation
• Meghmani Finechem Limited
• Reliance Industries Limited
• Hangzhou Electrochemical Group Co., Ltd.
• Shandong Pujie Plastic and Rubber Co., Ltd.
• Jiangsu Tianteng Chemical Industry Co., Ltd.
• Kunshan Maijisen Composite Materials Co., Ltd.

Key Market Developments

• On June 2023, The Aditya Birla Group's flagship company, Grasim Industries, announced the construction of a 1 lakh metric tonne Chlorinated Polyvinyl Chloride (CPVC) resin facility in Vilayat, Gujarat, will begin in late 2023. In October 2020, Grasim Industries signed an agreement with Lubrizol Manufacturing India Private Ltd. to establish the factory. Both firms have already confirmed that the first phase of the world's largest single-site state-of-the-art facility in Gujarat will begin in the latter half of 2023.

• On January 2023, Meghmani Finechem Ltd (MFL), a specialty chemicals firm, is increasing its manufacturing capacity of chlorinated polyvinyl chloride (CPVC) resins by 1.5 times to 75,000 tonnes per annum (TPA). By the fourth quarter of 2023-24, the company plans to add another 45,000 TPA.

• On November 2022, DCW Ltd. invested $16 million to increase its capacity for chlorinated polyvinyl chloride (CPVC) and synthetic iron oxide pigment (SIOP). According to DCW Ltd. predictions, the SIOP de-bottlenecking should be completed by the first quarter of FY24, and the CPVC project should be operational by the second quarter of FY24. This development will boost the supply and production of chlorinated polyvinyl chloride.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Chlorinated Polyvinyl Chloride (CPVC) Market based on the below-mentioned segments:

Chlorinated Polyvinyl Chloride (CPVC) Market, Grade Analysis

• Injection Grade
• Extrusion Grade

Chlorinated Polyvinyl Chloride (CPVC) Market, Application Analysis

• Power Cable Casing
• Adhesives & Coatings
• Pipes & Fittings
• Fire Sprinkler Systems
• Others

Chlorinated Polyvinyl Chloride (CPVC) Market, End-Use Industry Analysis

• Construction
• Chemical
• Electrical & Electronics
• Healthcare
• Agriculture
• Others

Chlorinated Polyvinyl Chloride (CPVC) Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa