According to a new research report by Global Market Insights Inc., the Chlorinated Polyvinyl Chloride (CPVC) Market size is expected to be around USD 3.4 billion by 2028.
Chlorinated Polyvinyl Chloride (CPVC) is a thermoplastic polymer produced by the chlorination of polyvinyl chloride with a free radical. It is simple to handle and possesses excellent corrosion resistance at high temperatures. Owing to this factor, it is used in industrial liquid handling and hot & cold supply pipes. CPVC pipes and fittings are cost-efficient, yet functional and long-lasting, compared to metal & standard PVC pipes and fittings.
The chlorinated polyvinyl chloride market is anticipated to increase throughout the forecast period due to the growing usage of CPVC in various sectors. Furthermore, rising safety concerns and an increase in the use of fire sprinkler systems are driving the chlorinated polyvinyl chloride market growth.
The brittle nature of CPVC pipes and the increased maintenance cost in the case of a leak or damage have a negative impact on the total market growth. On the other hand, increasing CPVC use in the production of power cable casings and tubes is expected to present growth potential for key players in the chlorinated polyvinyl chloride market over the forecast period.
The CPVC market is expected to increase rapidly during the forecast period due to the rising demand for construction materials. CPVC is a high-temperature plastic pressure piping system. In the construction industry, it is widely used in plumbing applications. Moreover, CPVC is also used in wires, window profiles, flooring, and others in the construction industry. CPVC contributes significantly to the quality, safety, and cost-effectiveness of the building materials.
Browse key industry insights spread across 265 pages with 319 market data tables & 30 figures & charts from the report, “Chlorinated Polyvinyl Chloride (CPVC) Market Size, By Production Process (Solvent Method, Solid Phase Method, Aqueous Suspension Method), By Application (Pipes & Fittings, Fire Sprinklers, Power Cable Housing, Adhesives & Coatings), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
Solid phase method is clean way to produce CPVC
Solid phase production process of CPVC generated around USD 75 million in 2021 and expected to grow by over CAGR 10% from 2022 to 2028. The solid-phase method is significantly cleaner. It has benefits such as no wastewater discharge, a simple CPVC product after treatment system, reduced apparatus corrosion, etc.
PVC granules are chlorinated in a gas–solid reactor with lines of UV lamps settled in for this synthesis process. However, due to the lack of fundamental investigations, particularly direct & quantitative experimental data to reveal the properties of the UV-enhanced gas–solid chlorination process, this technology is still not commonly used.
Increasing adaptability of fire sprinklers units in the construction industry
In the chlorinated polyvinyl chloride (CPVC) market, the fire sprinklers segment accounted for around 26% volume market share in 2021 and is expected to grow over a CAGR of 11% through 2028. CPVC fire sprinklers minimize the risk of death or injury due to fire by significantly lowering heat, flames, and smoke, giving people enough time to evacuate. Fire sprinklers are made from chlorinated polyvinyl chloride pipes, which are cheaper and provide a faster & safer assembly than metal alternatives as they do not require the use of flames or heavy equipment to join components.
For low-rise residential occupancies, CPVC plastic pipes & fitting systems listed in the system standard UL 1821 can be utilized to provide water to fire sprinklers. CPVC pipes and fittings are the only non-metallic system approved for use in a standalone fire sprinkler system or one installed in an exposed area.
The European market is set to exhibit steady growth during the forecast period
The European chlorinated polyvinyl chloride market is expected to generate over USD 485 million by 2028 at a CAGR of over 9.5%. Rising product awareness and high-performance material adaptivity in the European pipes & fittings industry promote the use of Chlorinated Polyvinyl Chloride (CPVC). The increasing demand for CPVC pipes in European wastewater treatment plants along with the increasing construction and manufacturing sites is another factor driving the CPVC demand.
Product launches and mergers & acquisitions are key market strategies
The Chlorinated Polyvinyl Chloride (CPVC) industry is highly competitive and key industry participants are investing in R&D to develop new products, carry out mergers & acquisitions, and expand their distribution networks. Key market participants in the industry include Novista, Sundow Polymer, Lubrizol, and Sekisui Chemicals, among others.