The chlorinated polyethylene resins & elastomers market is forecast to reach US$ 600 Million by 2022, expected to flourish at a CAGR of 8% to reach US$ 1,297 Million by 2032.
Chlorinated polyethylene (CPE) resins and elastomers are thermoplastic polymers exhibiting enhanced physical and chemical properties. These are used as thermoplastic elastomer, modifiers for various resins such as Polyvinyl chloride (PVC), Acrylonitrile butadiene styrene (ABS), and polyethylene (PE). Chlorinated polyethylene resins offer resistance against chemicals, fire, heat, oil, weather, abrasion.
Other properties of CPE include excellent mechanical and physical properties, high filler acceptance, tensile strength, and low-temperature performance.
The enormous demand for PVC siding, pipes, window profiles, doors, and fences, among others from the building & construction trade, propels the growth of impact modifiers in this market.
Request Sample Copy of Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-318
Which are Some Prominent Drivers Spearheading Chlorinated Polyethylene Resins Market Growth?
The applications of chlorinated polyethylene resins and elastomers include geomembranes, as impact modifiers and flexible sheeting for automotive, roofing membranes, molded shapes, extruded profiles, and cable jacketing, and as a base polymer.
Growing demand for chlorinated polyethylene resins and elastomers in impact modification application is expected to drive market growth. Impact modification is the largest application of CPE in terms of consumption. It is widely used for impact modification of PVC for the fence, deck, window profiles, pipes, and vinyl siding.
What are the Challenges Faced by the Chlorinated Polyethylene Resins Industry?
Uprising crude oil prices and volatility in raw materials prices are projected to hamper the market growth for chlorinated polyethylene resins and elastomers. Polyethylene is manufactured from crude oil derivatives and is subjected to availability and price variations.
Additionally, the high cost of processing to develop the application-specific elastomer or resin is expected to hamper the market growth.
Request Brochure of Report: https://www.futuremarketinsights.com/reports/brochure/rep-gb-318
Why is Asia-Pacific Emerging as an Opportunistic Chlorinated Polyethylene Resins Market?
The Asia Pacific was the largest market for chlorinated polyethylene resins and elastomers in terms of consumption. China accounts for the largest share in the global market in terms of production and consumption. Most CPE in China is used for impact modifiers and hoses applications. Asia Pacific was followed by North America where the U.S. was the largest consumer.
The flexible sheeting industry is experiencing high growth in the Asia Pacific region due to growing construction and electrical industries. These two industries are propelled by changing lifestyles and rising disposable income. Further, rising demand from automobile hoses and industrial hoses is likely to reinforce the chlorinated polyethylene resins and elastomers market growth.
How is Europe Contributing to the Growth of the Chlorinated Polyethylene Resins Market?
The Europe Chlorinated Polyethylene Resins and Elastomers market size is estimated to reach a high valuation until 2032, following an annual growth rate of nearly 12% throughout the assessment period. CPE is extensively used in the pharmaceutical industry for the manufacturing of several drugs.
European Union is concentrating on providing superior health facilities to its citizens, thereby making a hefty investment in the pharmaceutical sector in the region. Simultaneously, the processed food industry is also experiencing immense growth in the region, thereby fostering the demand for chlorinated polyethylene resins as an important ingredient for preparing food products.
Feel free to ask your queries at https://www.futuremarketinsights.com/ask-question/rep-gb-318
Why North America Holds a Significant Share in the Chlorinated Polyethylene Resins Market?
North America’s chlorinated polyethylene resins industry is likely to evolve at a stable rate in the forthcoming future. The regional demand is by the extensive use of PVC tubing, wires, cables, coatings, and molded products.
The region is considered one of the largest markets for food products and pharmaceuticals all over the world. Improved production output across these sectors and the mounting demand for personal care products like eyeliners, eye shadows, mascara, eyebrow pencils, lipstick, foundations, and other beauty products demand will supplement the regional chlorinated polyethylene resins industry growth.
Market Competition
Some of the key participants present in the global demand of Chlorinated Polyethylene Resins market include Dow Chemical Company, Sundow Polymers Co. Ltd., Lianda Corporation, Du Pont, Novista – Sanyi Chemical, Weifang Polygrand Chemical Co. Ltd., Shandong SanyiIndustrial Co. Ltd., Cevo Industry Company Ltd. among others., among others.
In Oct 2021, Dow, Inc. and Haldor Topsoe A/S (Lyngby, Denmark) have partnered together and started an initiative to efficiently convert waste plastics to circular plastics, keeping them out of the environment and responsibly reclaiming their value.