NEW YORK, Jan. 17, 2023 /PRNewswire/ -- As per Facts and Factors study, The global chlorinated polyethylene market size was worth around USD 645 million in 2021 and is predicted to grow to around USD 1177.45 million by 2030 with a compound annual growth rate (CAGR) of roughly 7.83% between 2022 and 2030.
Chlorinated Polyethylene Market: Overview
Chlorinated polyethylene (CPE) is created by substituting hydrogen atoms with chlorine atoms in high density polyethylene or HDPE. CPE does not exhibit any taste and is a non-toxic chemical. It is first created in white powder form before being used with other chemicals. CPE produced using low pressure showcases higher temperature thermal resistance as compared to CPE produced using high pressure polyethylene. The most common density range for CPE is between 0.93 to 0.96 gram per centimeter cube. The properties of CPE are highly influenced by the degree and intensity of chlorination.
For instance, it is in plastic form when chlorine content is below 15%, while it acts as a thermoplastic elastomer in case the chlorine content ranges between 165 to 24%. It exhibits the properties of rubber-like elastomer when the content percentage is increased to 25% unto 48% and if the quantity is increased above 73% it turns into a brittle resin. Few advantages offered by chlorinated polyethylene include high resistance to ozone aging, thermal oxygen aging, and resistance to alkali & acid substances. The two main categories of CPE include elastomer-type and resin-type. It can be used as a standalone product or with a mixture of a wide array of chemicals including polystyrene, polypropylene, and polyurethane amongst few others.
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Facts and Factors published the latest report titled "Chlorinated Polyethylene Market Size, Share, Growth Analysis Report By Application (Impact Modifier, Wire & Cable Jacketing, Magnetics, Adhesives, Ignition Resistant Abs, Tubing, and Others), By Type (135A, 135B, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 - 2030" into their research database.
Industry Dynamics:
Chlorinated Polyethylene Market: Growth Drivers
- Growing applications in the rubber industry to propel market demand.
The global chlorinated polyethylene market is projected to grow owing to the high applications of chlorinated polyethylene in the rubber industry. CPE when crosslinked with peroxides, a group of compounds showing an R-O-O-R structure, becomes highly valuable for the rubber sector. This is due to the CPE offering various chemical properties that are of importance in the sector.
For instance, it provides higher flexibility, is extremely resistant to chemicals & ignition, it restricts abrasion alongside limiting the impact of weathering conditions. Because of the high tensile strength and filler acceptance offered by CPE, the demand for the compound has grown immensely in the last few years. Using CPE helps to reduce the cost of processes associated with the use of polyethylene (PE) since it is a cheaper substitute for PE. The rubber industry is one of the fastest-growing industries due to the growing product penetration across engineering segments. The compressibility and strength offered by rubber have made them an essential part of segments dealing with products that work around drive couplings, anti-vibration mounts, bearings, adhesives, springs, and others.
Chlorinated Polyethylene Market: Restraints
- Harmful impact above melting temperature to restrict market expansion.
Chlorinated polyethylene does not have toxic compounds and is generally considered safe for use. But some of the known emissions during the combustion of the compound include carbon dioxide, carbon monoxide, and hydrogen chloride. At temperatures above melting value, polymer fragments of these substances can be released into the environment and the associated fumes are known to be irritating to the skin or other human body organs. When the compound decomposes, it can leave behind chemicals like organic acids, aldehydes, hydrogen chloride, and alcohol that could negatively impact the environment.
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Chlorinated Polyethylene Market: Opportunities
- Growing automobile industry to provide growth opportunities.
The demand for chlorinated polyethylene may further be propelled by the increasing adoption of the chemical in the automobile industry which is designated to increase at a high CAGR due to factors like a growing number of players, increasing disposable income alongside per capita spending capacity and availability of financial assistance. For instance, the northern and southern states of India are known to have a high number of families owning 2-wheelers. In the Karnataka state of India, around 61.15% of the state population is known to use some form of 2-wheeler for personal use.
Chlorinated Polyethylene Market: Challenges
- Disruptions in the supply chain to act as a major challenge during the forecast period.
The global market players will have to forecast the impact of the growing political tension across the world on business revenue as there may be a large number of cases that could potentially disrupt the smooth supply chain of CPE in the coming years. Asian countries including China currently dominate the production of the compound and the growing tension between the west and east could affect the supply of CPE.
Global Chlorinated Polyethylene Market: Segmentation
- The global chlorinated polyethylene market is segmented based on application, type, and region.
Based on application, the global market divisions are impact modifier, wire & cable jacketing, magnetics, adhesives, ignition resistance abs, tubing, and others. The global market is anticipated to be dominated by the wire & cable jacketing segment during the forecast years due to growing infrastructural development activities. Since they exhibit excellent thermal properties along with resistance to other chemicals and oils, they are widely used for jacketing wires and cables which acts as a fire retardant. Growing applications in automotive tuning may drive the demand in the tubing segment. The cable industry currently is valued at over USD 91 billion.
Based on type, the global market segments are 135A, 135B, and others. In 2021, the global market was dominated by chlorinated polyethylene 135A which is an elastomer with applications related to rigid polyvinyl chloride (RPV). The segmental growth was driven by the growing demand to manufacture vinyl sidings as well as impact modifiers that are used in microwaves, refrigerators, window profiles, and other consumer goods. CPE135A offers superior ductility making it desirable in electrical conduits using specialty polyvinyl chloride. The growing demand for 135A in the rubber industry could further fuel the demand for CPE.
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List of Key Players in Chlorinated Polyethylene Market:
- Weifang Yaxing Chemical Co. Ltd.
- Polycast Industries Inc.
- Shin-Etsu Chemical Company Ltd.
- Wacker Chemie AG
- Evonik Industries AG
Key questions answered in this report:
- What are the growth rate forecast and market size for Chlorinated Polyethylene Market?
- What are the key driving factors propelling the Chlorinated Polyethylene Market forward?
- What are the most important companies in the Chlorinated Polyethylene Market Industry?
- What segments does the Chlorinated Polyethylene Market cover?
- How can I receive a free copy of the Chlorinated Polyethylene Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 645 Million |
Revenue forecast in 2030 | USD 1177.45 Million |
Growth Rate | CAGR of almost 7.83 % 2022-2030 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2022 - 2030 |
Segments Covered | By Type, By Application, By Payload and By Propulsion System |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2030 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Weifang Yaxing Chemical Co. Ltd., Polycast Industries Inc., Shin-Etsu Chemical Company Ltd., Wacker Chemie AG, Evonik Industries AG, and others. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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Recent Developments
- In April 2022, Nokian Tyres announced that the company intends to increase its production capacity in Europe due to disruption in the Russian production line
- In November 2022, the US Department of Agriculture granted USD 35 million to Bridgestone Americas for encouraging the production of natural rubber in the country
Regional Dominance:
- Asia-Pacific to dominate with the highest CAGR.
The global chlorinated polyethylene market is anticipated to be dominated by Asia-Pacific in the coming years due to the presence of highly dominated chemical producers in the region, especially in China and India as well as a growing number of end-user verticals. For instance, as per estimates, China's revenue from the synthetic rubber production market may grow by USD 35 billion in 2022. The country has already marked a steady growth in the last 5 years at a yearly average of 2.76%. The demand for rubber in China reached 739 billion yuan in 2017 due to various factors like the growing construction industry, and high demand in the automobile sector. Growth in Europe may be driven by the growing demand for magnetic rubber used during the vehicle production process. The European automotive segment is responsible for more than 13.5 million direct and indirect jobs representing 6.05% of the region's employment rate.
Global Chlorinated Polyethylene Market is segmented as follows:
Chlorinated Polyethylene Market: By Application Outlook (2022-2030)
- Impact Modifier
- Wire & Cable Jacketing
- Magnetics, Adhesives
- Ignition Resistant Abs
- Tubing
- Others
Chlorinated Polyethylene Market: By Type Outlook (2022-2030)
- 135A
- 135B
- Others
Chlorinated Polyethylene Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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