The global Chlorinated Polyvinyl Chloride (CPVC) pipes market size is estimated to grow at a substantial rate owing to their increasing applications in various industries. This information is published by Fortune Business Insights™ in an upcoming report titled, “Chlorinated Polyvinyl Chloride (CPVC) Pipes Market, 2021-2028.”
The COVID-19 outbreak has been a major challenge for the chemicals industry as most of the manufacturers in the industry depend on raw materials from various parts of the world. The nationwide lockdowns and specific traveling bans amid the pandemic have resulted in a disrupted supply chain. Major players in the industry are figuring out new methods of sourcing raw materials, which in the current scenario, is a major challenge. At Fortune Business Insights™, we are focusing on finding the solutions to such challenges.
We have categorized the market on the basis of process, application, and geography. In terms of process, the market is divided into solvent method, solid-phase method, aqueous suspension method, and others. Based on application, it is fragmented into pipe & fittings, fire sprinkler systems, power cable casing, and coatings and adhesives. Lastly, on the basis of geography, it is segmented into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.
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While making the report, we have segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we have made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was implemented to arrive at the overall size of the market.
Drivers & Restraints-
Increasing Applications in Fire Protection to Drive Growth
Increasing applications of these pipes in various industries are estimated to drive the chlorinated polyvinyl chloride pipes market growth. One of the most significant applications of these pipes includes their use as fire sprinklers as CPVC pipes offer more durability and higher resistance against heat. According to the National Fire Protection Association (NFPA), the U.S. recorded a total of 481,500 structure fires in 2019. Strict government regulations regarding the quality of sprinklers are projected to propel the demand for chlorinated polyvinyl chloride pipes. However, the high cost and maintenance charges associated with the pipes are expected to hinder market growth during the forecast period.
Expansion of End-user Industries to Propel Demand in North America
North America is expected to dominate the chlorinated polyvinyl chloride market share during the forecast period. The increasing growth of industries, such as coatings and adhesives, is projected to propel the demand for CPVC in the region. In addition, numerous thermo-mechanical properties offered by CPVC, including the ability to be welded, assembled, and machined, are making it highly popular in various industrial applications.
The market in Asia Pacific is projected to showcase steady growth in the projected timeline. The increasing demand from the building and industrial sectors is predicted to drive market growth in the region. In addition, high consumption from countries including China and India coupled with the evident presence of major manufacturers is anticipated to propel the demand for chlorinated polyvinyl chloride pipes in the region.
Development of Innovative Products to Aid Prominent Corporations Expand their Product Lines
The market comprises manufacturers and developers focusing on expanding the industry on a global scale. Prominent corporations are embarking on various expansion strategies for their businesses. In addition, they are focusing on the development of innovative products under their product lines. These strategies will help them increase their customer base as well as their product portfolios.
On 28thJanuary, 2016, The Lubrizol Corporation launched a chlorinated polyvinyl chloride (CPVC) cumulative facility in Gujarat, indicating growth and expansion of the production plants for FlowGuard, BlazeMaster, and Corzan.
List of Key Players Profiled in the Chlorinated Polyvinyl Chloride (CPVC) Pipes Market Report:
The Lubrizol Corporation
Sekisui Chemical Co., Ltd.
Kem One Sas
Jiangsu Days Teng Chemical Co., Ltd.
Shandong Kexing Chemical Co., Ltd.
Shandong Tianchen Chemical Co., Ltd.
Panjin Changrui Chemical Industry Co., Ltd.
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