Market Trends of Chlorinated Polyethylene Industry
Impact Modifier to Dominate the Market
- Impact modifier stands to be the dominating application segment for the chlorinated polyethylene market owing to increasing global construction and reconstruction activities, coupled with the wide applicability of chlorinated polyethylene.
- Huge demand for PVC siding, pipes, window profiles, doors, and fences is driving the growth of impact modifiers in this market, among others from the building & construction industry.
- The growing use of CPE 135A in specialty polyvinyl chloride electrical conduits and highly filled compounds is witnessed owing to its superior ductility. Development in the global market segment of CPE 135A is majorly due to the increased use of the CPE 135A category in the application of impact modifiers.
- The impact modifier is widely used in packaging applications owing to its ability to offer an ideal balance between crease-whitening resistance and clarity for packaging applications. A fast increment in the use of plastic packaging in different end-use enterprises is expected to drive the demand for impact modifiers. For instance, according to the Organisation for Economic Co-operation and Development (OECD), the global plastic use for packaging can grow up to 20.1% in volume by 2029 compared to 2022.
- The growing incorporation of plastics across industries worldwide due to the requirement of improved weight and cost reductions is also expected to propel the demand for impact modifiers and, thus, ultimately, chlorinated polyethylene. For instance, according to Our World in Data, the global plastics production volume is expected to reach nearly 573.42 million tons in 2029 compared to 475.39 million tons in 2022.
- All the factors above and drivers are expected to increase the impact modifier application segment's dominance in the market during the forecast period.
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Asia-Pacific Region to Dominate the Market
- Building and construction is the largest end-user industry for chlorinated polyethylene. Chlorinated polyethylene is extensively used in construction and building materials, such as thermal insulation materials, waterproofing membranes, pipe seals, flooring materials, etc., to provide them with weather resistance, chemical resistance, and heat resistance.
- The Asia-Pacific region majorly dominates the chlorinated polyethylene market, as it has the world's busiest and largest building and construction industry. For instance, according to Seasia.co, Asia-Pacific has over 7,500 skyscrapers, which is more than 80% of the world's total number of skyscrapers.
- Countries such as China, India, Japan, Indonesia, and South Korea, among others, are responsible for the large size of the region's building and construction industry.
- Moreover, according to the United Nations Conference on Trade and Development (UNCTAD), the Asia-Pacific is projected to witness the highest growth in urban population, with an increase of 1,033 million more people residing in urban areas by 2050 compared to 2022. This will likely increase the construction volume of all kinds of buildings and infrastructure in the region. Hence, the dominance of the Asia-Pacific region over the chlorinated polyethylene market will be sustained during the forecast period.
- Chlorinated polyethylene is also extensively used in the automotive industry due to its vast applications in automotive seals, door trims, protective covers, etc. Moreover, Asia-Pacific is the leading producer of automotives globally.
- Hence, owing to the trends mentioned above and the data, the Asia-Pacific region is projected to dominate the chlorinated polyethylene market during the forecast period.
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