Chlorinated Polyethylene Market size is poised to grow at a robust CAGR during the forecast timeline 2021-2027. This growth is attributable to the demand for high-performance plastic composites across key end-use verticals. With the increasing use of polyethylene and PVC in tubing, wires, cables, and roofing applications, chlorinated polyethylene products are witnessing an upsurge in demand worldwide.
Superior performance benefits and exceptional chemical properties such as resistance to thermal oxygen aging, acids, alkali, and ozone aging are contributing to the growth of chlorinated polyethylene industry. Chlorinated polyethylene or CPE is a family of thermoplastics produced by the chlorination of high-density polyethylene (HDPE). It is characterized by excellent oil resistance, flame retardant properties, and its non-toxic nature. Ongoing R&D efforts pertaining to the development of advanced grades will propel the market forecast through 2027. In addition, the expanding range of applications of CPE across industries will create tremendous opportunities for manufacturers and supplies across the world.
In terms of the application, the roofing & sheeting segment is projected to acquire a notable share of the chlorinated polyethylene industry. CPE is gaining popularity as a flexible and waterproofing membrane in single-layer roofing systems. The key purpose of CPE is as a modifier that improves the impact resistance of PVC and lowers the overall cost. The material is highly resistant to UV damage and provides an excellent aesthetic finish to the roof.
Considering the end-use landscape, the chlorinated polyethylene market share from personal care segment is anticipated to grow substantially between 2021 and 2027. The application of CPE in cosmetics and personal care products is increasing. This is due to the wide use of polyethylene in eyeliners, eye shadows, mascara, eyebrow pencils, lipstick, foundations, and other beauty products. The rising consumer demand for premium range beauty, cosmetic, and personal care items will create a strong growth outlook for product suppliers.
From a geographical point of view, North America chlorinated polyethylene industry is projected to progress at a steady CAGR in the future. The regional demand is by the wide use of PVC tubing, wires, cables, coatings, and molded products. North America is one of the largest markets for food products and pharmaceuticals in the world. Increased production output across these sectors and the growing personal care product demand will supplement the regional CPE industry growth.
Dow Chemicals, Sanyo Corporation of America, Showa Denko, Novista, Sundow Polymers Co. Ltd, Jiangsu Tianteng Chemical Industry Co., Ltd., Dycon Chemicals, Polmann India Ltd, and Shandong Xuye New Materials Co., Ltd., are among the notable companies that produce chlorinated polyethylene globally.
The chlorinated polyethylene industry has experienced a range of challenges and disruptions throughout the COVID-19 pandemic period. Problems in logistics and supply chain had led to the shortage of raw materials. In addition, reduced manufacturing output across industries due to strict government restrictions have resulted in a declining product demand. The shortage of workforce and strict social distancing norms have also created challenges for manufacturers. However, as the impacts of COVID-19 subside, the chlorinated polyethylene market will witness tremendous opportunities over 2021-2027.