According to a new report, published by KBV research, The Global Chlorinated Polyvinyl Chloride Market size is expected to reach $3.2 billion by 2031, rising at a market growth of 10.8% CAGR during the forecast period. In the year 2023, the market attained a volume of 718.76 kilo tonnes, experiencing a growth of 30.3% (2020-2023).
The Extrusion Grade segment is leading the Global Chlorinated Polyvinyl Chloride Market by Grade in 2023; thereby, achieving a market value of $1.9 billion by 2031. Due to its adaptability in the extrusion process, extrusion grade CPVC is used to produce pipes, tubes, and profiles used in industrial, HVAC (heating, ventilation, and air conditioning), and plumbing applications. Therefore, owing to these aspects, there will be enhanced demand in the segment.
The Pellet segment is anticipating a CAGR of 11.1% during (2024 - 2031). CPVC pellets can be easily blended with additives to enhance specific properties such as heat resistance, flame retardancy, or impact strength. This versatility makes them attractive for customized applications. Pellet form allows for efficient transportation and storage compared to other forms such as powder or liquid. This reduces transportation costs and minimizes the risk of spillage or contamination during transit. Hence, these factors will assist in the growth of the segment.
The Direct segment dominated the Global Chlorinated Polyvinyl Chloride Market by Sales Channel in 2023; thereby, achieving a market value of $2 billion by 2031. This dominance can be attributed to several key driving factors. Firstly, direct sales enable manufacturers to build strong, lasting relationships with their customers, ensuring repeat business and loyalty. Additionally, the direct sales channel often involves bulk purchases, leading to higher revenue per transaction. The technical nature of chlorinated polyvinyl chloride applications often requires specialized knowledge and support, which can be more effectively provided through direct engagement.
The aqueous suspension method segment is registering a CAGR of 10.5% during (2024 - 2031). The cost-effectiveness of this method compared to other production methods can impact its growth. If this method proves to be more economical in terms of raw materials, energy consumption, or production efficiency, manufacturers might prefer it. Therefore, these factors can drive the expansion of the segment
The Pipes & Fittings segment is leading the Global Chlorinated Polyvinyl Chloride Market by Application in 2023; thereby, achieving a market value of $1.4 billion by 2031. CPVC offers advantages such as high-temperature resistance, corrosion resistance, low thermal conductivity, and easy installation. These properties make CPVC pipes and fittings preferred over alternatives like PVC or metal pipes, especially in hot water distribution systems. Hence, these factors will boost the demand in the segment.
The Chemical segment would showcase a CAGR of 10.5% during (2024 - 2031). CPVC is extensively used to convey various chemicals in industrial settings. Its exceptional chemical resistance renders it well-suited for transporting corrosive materials, including solvents, acids, and alkalis. CPVC pipes are commonly employed in chemical processing plants, water treatment facilities, and laboratories where the integrity of the piping system is critical.
Full Report: https://www.kbvresearch.com/chlorinated-polyvinyl-chloride-market/
The Asia Pacific region dominated the Global Chlorinated Polyvinyl Chloride Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.3 billion by 2031. The Europe region is experiencing a CAGR of 10.1% during (2024 - 2031). Additionally, The North America region would exhibit a CAGR of 10.6% during (2024 - 2031).
By Grade (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
By Form (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
By Sales Channel (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
By Production Process (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
By End User (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Bilion, 2020-2031)
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