The global chlorinated polyethylene market is projected to grow from US$395.4 mln in 2015 to US$620.2 mln by 2021, at a CAGR of 8% between 2016 and 2021. Rising demand of chlorinated polyethylene for the impact modifier application is propelling the growth of the market, as per MarketsandMarkets. Market growth is mainly attributed to the rising awareness regarding the superior properties of chlorinated polyethylene and emerging economies that offer several untapped and unexplored growth opportunities.
CPE 135A is the most widely consumed grade of chlorinated polyethylene and is primarily used for impact modification processes to improve impact strength and weatherability of finished products. Various end-use industries that require impact modification processes for their finished products have been driving the demand for CPE 135A over the past few years. The CPE 135A segment is expected to continue its dominance in the global chlorinated polyethylene market during the forecast period.
The impact modifier application segment accounted for the maximum market share, owing to the increasing demand of impact modifiers in PVC (polyvinyl chloride), window profiles, doors, fences, and sidings, among others. Due to excellent physical and mechanical properties of chlorinated polyethylene, such as resistance to oils, temperature, chemicals, and weathering, the chlorinated polyethylene elastomers can exhibit superior compression set resistance, flame retardancy, tensile strength, and abrasion resistance.
The Asia-Pacific region led the global chlorinated polyethylene market due to the increasing demand for chlorinated polyethylene from various end-use industries, such as building & construction, wires & cables, and automobiles, among others. Growth in the Asia-Pacific chlorinated polyethylene market can also be attributed to the fact that China is the world leader in the production as well consumption of chlorinated polyethylene, followed by India.