Global Chlorinated Polyvinyl Chloride (CPVC) Market will propel to garner USD 1,214.2 Mn, with a CAGR of 10.3% from 2018 to 2025
05 June 2018
CPVC is a highly durable engineered material, chlorinated polyvinyl chloride (CPVC), has been successfully used in many applications, especially those that require very long service-life in high temperature, corrosive environments. When using CPVC, little waste is generated, especially when compared to materials used in disposable product applications. CPVC is a lightweight yet strong material, based on the relatively low petroleum content, and is produced using a very energy efficient process. Therefore, the need for non-renewable energy sources (such as oil and coal) is low compared with the need when using traditional materials such as polyethylene (PE), polypropylene (PP), polybutylene (PB), copper and steel.
CPVC has excellent chemical and mechanical strength. CPVC is also readily workable, including machining, welding and forming. Due to its excellent corrosion resistance at elevated temperatures, CPVC is ideally suited for self-supporting constructions where temperatures of up to 93 degree Celsius are present. The ability to bend, shape and weld CPVC enables its successful use in a wide variety of long service-life process applications such as hot and cold water plumbing systems. fire sprinkler piping systems, industrial piping and process equipment, sheets, tanks, scrubbers, ventilation systems, valves, pumps, profile extrusion and custom injection molding products. Moreover, CPVC is very light weight compared with most alternative materials, especially metals. This means energy savings when transporting both raw CPVC for processing and the finished CPVC-based products. For example, because of its light weight, high mechanical strength and natural flame retardant properties, CPVC material has been successfully used for the internal cabin compartments of commercial airliners. In terms of volume, global CPVC market in 2017 stood at 413.9 kilotons and is expected to reach 689.6 kilotons by 2025 growing at a CAGR of 8.9% from 2018 to 2025. In terms of revenue, global CPVC market in 2017 stood at USD 674.2 Mn and is expected to reach USD 1,214.2 Mn by 2025 growing at a CAGR of 10.3% from 2018 to 2025.
On the basis of type CPVC can be classified as solvent method CPVC, solid-phase method CPVC and aqueous suspension method CPVC. Recording type occupied larger market share as compared to iron free grade. Moreover, recording type is also expected to grow at a faster growth rate during the forecast period. Major applications of CPVC can be classified as plumbing pipe and fittings, fire sprinkler pipe and fittings, industrial pipe and fittings, power cable casing, coatings and adhesives and others. Plumbing pipe and fittings application held the major market share while fire sprinkler pipe and fittings application is expected to grow at a fastest growth rate during the forecast period.
Region wise global CPVC market is segmented into North America, Europe, China, Japan, Southeast Asia, India, South America, Middle East and Africa and Row. North America held the largest market share followed by China and Europe respectively. Japan is expected to grow at a fastest growth rate followed by China and Europe during the forecast period.
Some of the global major players operating in the CPVC market include Lubrizol , Kaneka Chemical, Gaoxin Chemical, Sekisui Chemical Co., Ltd., Xuye New Materials, Panjin Changrui, Xiangsheng Plastic, Kem One (Klesch Group), Axiall, Shanghai Chlor-Alkali Chemical, PolyOne, Weifang Kingdom Plastic, Sundow Polymers, Novista, Jiangsu Tianteng Chemical, Tianchen Chemical and Others among others.