According to the Market Statsville Group (MSG), the global chlorinated polyolefin market size is expected to grow from USD 2,864.89 million in 2022 to USD 4,848.85 million by 2033, growing at a CAGR of 4.9% from 2023 to 2033. The main growth driver for chlorinated polyolefin adhesives is its usage as an adhesion booster, heat retardant and others, paving the way for the market growth during the forecasting period. Furthermore, demand for PVC as a substrate for the production of chlorinated polyvinyl chloride is high. This is mainly attributed to its consumption in end uses such as pipes & fittings. In addition, superior properties of CPVC such as high impact- and heat-resistance have been recognized by various end-use industries, thus propelling its consumption. Moreover, product launch and acquisition are emerging as significant marketing strategies by the key players will create a lot of opportunity in the market over the forecasting period. On the other hand, The introduction of alternative products containing non-chlorinated polyolefin will hamper the growth of the market during the forecasting period across the globe.
Among the valuable properties of all chlorinated polyolefin is good adhesion to various surfaces and resistance to fire. Chlorinated polyolefin and their derivatives are also resistant to the action of ozone, oxygen, alkalies, saline solutions, strong acids, aliphatic hydrocarbons, alcohols, oils, and gasoline. Chlorinated polyolefin and their derivatives are used in the manufacture of transparent films for medical, household, and agricultural uses. Chlorinated polyolefin and their derivatives are ingredients in the manufacture of rubber products used in technology; mixed with polyvinyl chloride, they are used in the manufacture of fire- and frost-resistant plastics. Chlorinated polyolefin and its derivatives are processed into fibers and strong transparent films. Chlorinated polyolefin and their derivatives containing 50–70 percent chlorine is used as binders in paints and varnishes and as bases for various adhesives and coatings.
Chlorinated Polyolefin (CPO) is a high-performance, semi-crystalline polymer that has been modified with chlorine atoms. CPOs are generally used in the production of wire and cable insulation & jacketing materials as well as other industrial products. Chlorinated polyolefin plastics are known for their corrosion resistance, chemical inertness, good dielectric properties, and can be used in medical devices, batteries, fuel cells, sensors & actuators as well as adhesives and sealants.
The United States, India, Brazil, Russia, the United Kingdom, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst-affected countries in terms of COVID-19 cases and deaths as of May 2021. The current pandemic has had a significant impact on the chlorinated polyolefin business, with a significant negative impact. Due to the abrupt closure of national and international borders, the COVID-19 outbreak has altered operational efficiency and disrupted value chains, resulting in revenue loss and harm to end-user industries such as automotive, construction, and others. For instance, the sales of automotive decreased and reached 436,500 units in April 2020 to June 2020, according to the data of India Brand Equity Foundation (IBEF).
The outbreak has created an unprecedented catastrophe for countries and corporations worldwide. The spread of coronavirus has resulted in lockdowns in countries, forcing citizens to stay at home and forcing businesses to enable their staff to work from home in order to control the spread of the pandemic. From raw material suppliers to manufacturers and other end users, every aspect has been impacted. Due to lockdown and social distancing measures, factories and industrial facilities have been compelled to remain closed, resulting in a substantial decline in the chlorinated polyolefin market internationally. Moreover, it further affects the business of its end-use industries who opt for such chemicals on account of its versatile benefits, which may negatively influence market growth amidst the pandemic.
The increasing use of chlorinated polyethylene, which is a type of chlorinated polyolefin as wire and cable jacketing, which will effectively eliminate the occurrence of fire due to the short-circuits or related causes. CPE has excellent flame-retardant properties and offers unique combustion-drip proof. Rising fire incidences will fuel the demand for the market in forthcoming years across the globe. For instance, according to the data of National Fire Protection Association, local fire departments have responded to 1,338,500 fires in 2020. These fires caused 3,500 civilian deaths, 15,200 civilian injuries and $21.9 billion in property damage.
Additionally, a fire department in the United States responds to a fire somewhere in the country every 23 seconds. A structural fire happens once every 64 seconds, and a residential fire occurs once every 89 seconds. Home fires resulting from electrical failure and other factors accounted for 74% of all fire deaths. This covers the 64% caused by fires in single-family houses and the 10% caused by fires in apartments or other multi-family buildings. Hence, surging fire incidences due to electrical failures or related causes will increase the demand for effective solutions to prevent such incidences. Here chlorinated polyolefin and its derivatives will be employed as they possess fire retardant properties which will prevent the spread of fire and cater to the needs of the end-users. This, in turn, pave the way for the growth of the market over the forecasting period across the globe.
The introduction of alternative products containing non-chlorinated polyolefin will hamper the growth of the market during the forecasting period across the globe. Non-chlorinated polyolefin is a colorless compound that provides higher chemical and temperature resistance as compared to chlorinated polyolefin, this will restrain the growth of the market at the global level.
Furthermore, non-chlorinated polyolefin is generally used in a solvent-based system as an additive or primer to enhance the adhesive property of various low surface energy substrates, including polyethylene, polystyrene, polypropylene, polyethylene terephthalate, and other substances. Such factors will negatively impact market growth. Moreover, non-chlorinated polyolefin is used in applications where chlorine results in the generation of hydrochloric acid due to the exposure of chemicals and high temperatures.
Non-chlorinated polyolefin further offers excellent performance under extreme environmental conditions, including exposure to gasoline, high humidity to paints and coatings used in buildings, automotive, coatings done to metal surfaces, and plastic substrates used in the production of laminates. These will hamper the growth of the market across the globe during the forecasting period.
Surging e-commerce industry will drive the growth of the market as chlorinated polyolefin and its derivatives are used in packaging of fruits, vegetables confectionary products and others.
As per the data, fast growth in e-commerce sales to consumers and cross-border purchases, more than 1.4 billion people shopped online in 2018, surging e-commerce industry will demand for the effective and durable packaging to ensure food safety and prevent expected contamination. Chlorinated polyolefin is used for developing effective packaging solutions, hence, rising e-commerce industry will pave the way for the growth of the market in upcoming years at global level.
Moreover, according to the data of United Nations Industrial Developments Organization (UNIDO), the rising e-commerce industry in India will increase the demand for the packaging solutions. This, in turn, contribute in the growth of the market over the forecasting period across the globe.
The study categorizes the chlorinated polyolefin market based on type, and application area at the regional and global levels.
Based on the type, the market is divided into CPE, CR, CPP and CPVC. The CPVC segment is expected to dominate the market share in 2022 in the global chlorinated polyolefin market. The CPVC segment currently dominates the market share in the chlorinated polyolefin market. PVC is in high demand as a raw material for the manufacture of chlorinated polyvinyl chloride. This is primarily attributable to the fact that it is used in end uses like pipelines and fittings. CPVC's exceptional qualities, such as its high impact and heat resistance, have been acknowledged by a variety of end-use sectors, which has boosted its use. Additionally, PVC is in high demand as a raw material for the manufacture of chlorinated polyvinyl chloride. This is primarily attributable to the fact that it is used in end uses like pipelines and fittings.
Based on the regions, the global chlorinated polyolefin market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. People's increased knowledge and disposable money have resulted in large expenditures in the vehicle sector, propelling the region's chlorinated polyolefin market expansion. Furthermore, due to the strong car base and expansion of the automotive sector, the demand for chlorinated Polyolefins for automotive applications is predicted to be considerable. The Middle East and Africa will be among the most recent gains in regional industrial growth, notably in terms of manufacturing facility advancement. Latin America's growth is slow due to the region's lack of manufacturing bases.
The chlorinated polyolefin market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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