With the emergence and long-term Impact of COVID-19, the Global Chlorinated Polyvinyl Chloride Market is to reach USD 9.38 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Chlorinated Polyvinyl Chloride Market is poised to raise up to USD 9.38 Billion by 2030. Chlorinated Polyvinyl Chloride (CPVC) is a thermoplastic polymer produced by chlorinating polyvinyl chloride (PVC) resin. This process enhances its chemical and heat resistance, making it suitable for applications requiring durability and protection against corrosive substances. Chlorinated Polyvinyl Chloride exhibits improved performance at elevated temperatures compared to standard PVC, making it commonly used in plumbing systems for hot water distribution. Its fire-resistant properties also render it suitable for fire sprinkler systems in buildings.
With excellent chemical resistance, mechanical strength, and ease of installation, CPVC finds application in various industries, including chemical processing and other environments where resistance to chemicals and heat is crucial. The Chlorinated Polyvinyl Chloride Market is expanding because of factors such as the resistance to chemicals and high temperatures, expanding industrialization, growing awareness of CPVC Benefits, and stringent regulatory compliance related to fire safety in commercial & residential spaces. In addition, the construction industry is a major driver, with CPVC being widely used in the manufacturing of pipes, fittings, and other components due to its corrosion resistance and durability.
Rapid urbanization and infrastructure development fuel the demand for CPVC pipes and fittings, particularly for hot and cold-water systems. According to the World Bank, in 2020, it was estimated that approximately 55% of the population, which is around 4.2 billion inhabitants lives in urban areas. Also, it is projected that the urban population is expected to constantly increase by 1.5 times and is likely to reach around 6 million by 2045.
Consequentially, rapid urbanization and population growth led to the growth of the construction industry, which, in turn, accelerated the demand for chlorinated polyvinyl chloride. The Statista reported that in 2020, it was estimated that in 2020, there were around USD 1.5 trillion spent on construction activities in the United States. Also, the construction expenditure has been rising and it is estimated to have reached USD 1.8 trillion by 2025. Thus, these aforementioned factors are propelling the growth of the Chlorinated Polyvinyl Chloride Market over the estimated period.
Moreover, the stringent regulations on traditional materials, as well as the replacement of aging infrastructure present various lucrative opportunities over the forecast years. However, the higher processing temperature of CPVC than conventional PVC and the increase in CPVC waste and microplastic pollution are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Chlorinated Polyvinyl Chloride Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the increasing domestic needs of residential, commercial, and industrial sectors, increasing population growth, as well as flourishing growth of the end-use industries. Also, countries in the Asia-Pacific (APAC) region are witnessing a substantial migration of people from rural to urban areas, driving the demand for resilient housing infrastructures.
The National Institution for Transforming India (NITI Aayog) highlights that India’s urban population is anticipated to grow by 416 million individuals by 2050, constituting 50% of the nation’s total population. In response to this demographic shift, numerous governments are expediting urbanization initiatives and construction projects across the region. Whereas, North America is expected to grow at the fastest CAGR over the forecast years. The robust growth of the construction industry, as well as the imposition of stringent fire safety regulations, are significantly propelling the market demand across the region.
The global Chlorinated Polyvinyl Chloride Market is highly competitive owing to the presence of several key manufacturers such as Hangzhou Electrochemical Group Co., Ltd., Shriram PolyTech Pvt Ltd, Kaneka Corporation, Shandong Repolyfine Additives Co., Ltd., Mitsui & Co., Ltd, Via Chemical Co., Ltd., and others.
For further analysis on this or to request a sample copy of this report, please click the link mentioned below:
Key findings of the study suggest:
- Global Chlorinated Polyvinyl Chloride Market is anticipated to grow with a healthy growth rate of more than 7% over the forecast period 2023-2030.
- In the application segment, pipes and fittings emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to flourishing growth of the end-use industries.
- North America is expected to grow at a high CAGR followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Application:
- Pipes and Fittings
- Fire Sprinkler Systems
- Power Cable Casing
- Adhesives and Coatings
- Others
By End User Industry:
- Construction
- Chemical
- Electrical and Electronics
- Healthcare
- Agriculture
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
To get a sample of this report or to purchase a copy of the study, you can directly contact us at: sales@bizwitresearch.com
About Us
Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
Contact US
Global Business Development
Phone : +1 209 498-3066
Email: Sales@bizwitresearch.com
Website: www.bizwitresearch.com
