Global Chlorinated Polyvinyl Chloride (CPVC) Market Size Booming at CAGR of 11.37% During 2023–2029, to Touch USD 2.92 Billion by 2029

Published | 05 December 2023

Global Chlorinated Polyvinyl Chloride (CPVC) market is gaining traction because of the increasing construction activities and growth in industrial applications.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Chlorinated Polyvinyl Chloride (CPVC) Market size at USD 1.53 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Global Chlorinated Polyvinyl Chloride Market size to grow at a CAGR of 11.37% reaching a value of USD 2.92 billion by 2029. Growing number of large construction projects and the increasingly high adoption of CPVC in a variety of applications, including pipe and fittings and power cable casing, are key growth drivers for the Global Chlorinated Polyvinyl Chloride (CPVC) Market. Furthermore, it is projected that the Global Chlorinated Polyvinyl Chloride (CPVC) Market will grow during the forecast period due to the substantial use of CPVC in fire sprinklers and strict safety requirements across countries.

Chlorinated Polyvinyl Chloride (CPVC) – Overview

Chlorinated polyvinyl chloride (CPVC) is produced by mixing PVC and chlorine using a fluidized bed chlorination method or a water slurry. It is a polymer with remarkable corrosion resistance and thermoplastic qualities. Chlorinated PVC also shows a fair degree of thermal stability. Therefore, it is used in a wide range of commercial and industrial applications because of its intrinsic chemical resistance as well as its resilience to temperature changes and pressure. Greater strength is provided by CPVC to support large wire loads. In addition to being used for electrical items, it also covers exposed wire in homes and workplaces.

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Global Chlorinated Polyvinyl Chloride (CPVC) Market – By Application

Based on application, the Global Chlorinated Polyvinyl Chloride (CPVC) Market is segmented into pipe & fittings, fire sprinkler systems, power cable casing, coatings and adhesives. The pipe and fittings segment accounts for the highest market share owing to the rising construction activities and increasing number of residential and commercial facilities. In addition to drain, waste, and venting pipes, CPVC plumbing is used in the home to supply hot and cold drinkable water, as well as in the synthesis and transport of chemicals, irrigation, and agricultural fertilizers.

Impact of Geopolitical Tensions across Regions on Global Chlorinated Polyvinyl Chloride (CPVC) Market

The raging war between Israel and Hamas, a Palestine-based militant and nationalist organization, sends shockwaves across various industries, particularly oil & gas, transcending geographic boundaries and affecting businesses globally. The conflict between Israel-Hamas has been a longstanding, deeply entrenched geopolitical issue. On October 07, 2023, Hamas, in a surprise and heavy attack, struck Israel with thousands of rockets and infiltrations killing more than 1,100 people. In response, the prime minister of Israel declared war against Hamas and anticipated that the war would be ‘long and difficult.’ The United States has sent its warships and aid to Israel and stated that its citizens were killed in the war. At the end of October 2023, it was estimated that more than 10,000 people during the war.

Also, the wars in the Middle East and Ukraine will affect industries across verticals and regions. Oil & gas is one of the adversely affected industries by the war. The Middle East, including Israel, is a vital hub for oil production and transportation. Any disturbance in the Middle East region instantly raises concerns about oil supply disruptions, leading to increased oil prices worldwide. For example, the World Bank anticipates that the crude oil prices would spike to a range of USD 140–157 a barrel in the long term, if the war continues to escalate and spreads to other regions. This spike in oil and energy costs will have a domino effect on multiple industries. As fossil fuel is the main raw material for CPVC, companies and end users in the Global Chlorinated Polyvinyl Chloride (CPVC) Market face the brunt of rising fuel prices. Volatile and higher fuel prices could increase the cost of CPVC, resulting in the declined demand for them affecting their sales and market growth.

Competitive Landscape

Major players operating in the Global Chlorinated Polyvinyl Chloride (CPVC) Market include Lubrizol Corporation, KEM ONE, Novista Group, Jiangsu Tianteng Chemical Industry, BASF SE, Sekisui Chemical, Hangzhou Electrochemical Group Co., Ltd., Kaneka Corporation, Navient Corporation, and Shandong Xiangsheng New Materials Technology.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Global Chlorinated Polyvinyl Chloride (CPVC) Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Chlorinated Polyvinyl Chloride (CPVC) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Chlorinated Polyvinyl Chloride (CPVC) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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