The global chlorinated polyethylene market will derive growth from the presence of several large scale companies across the world. The increasing applications of the product across diverse industry verticals will have a positive impact on market growth. According to a report by Fortune Business Insights, titled “Chlorinated Polyethylene Market Size, Share & Industry Analysis, By Type (Chlorinated Polyethylene (CPE) 135A, Chlorinated Polyethylene (CPE)C 135B, Others), By Application (Impact Modifier, Wire & Cable Jacketing, Hose & Tubing, Adhesives, Magnetics, Ir Abs, Others) and Regional Forecast, 2022-2029,” the market will benefit from increasing applications of the product in the automotive and construction sectors.
The recent coronavirus outbreak has brought major businesses to a standstill. Due to travel bans, companies in this sector are likely to take a huge hit in the coming years. Ultimately, the rapid spread of the disease has urged governments to take strict measures. The report includes the impact on Covid-19 pandemic on the global market and discusses how major companies are coping with this.
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Chlorinated polyethylene is a material that is obtained through the substitution of hydrogen atoms with chlorine atoms in the primary product that is the high-density polyethylene. The use of CPE is beneficial in several ways, accounting to its exceptional properties such as low toxicity and minimum impact on taste. The high temperature resistance and high thermal aging resistance will also lead to a wider adoption across the world. The massive investments in the research and development of the product will create a wider application scope. Increasing applications of the product will attract more companies, which in turn will contribute to the growth of the overall chlorinate polyethylene market in the foreseeable future. This product will be widely used as a substitute to its alternate counterparts in the coming years.
Increasing Number of Company Mergers will Bode Well for Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has had the highest impact on the growth of the overall market in recent years. The rising demand for the product, driven by increasing applications, have encouraged companies to collaborate as well as focus on acquisitions of start-ups with core innovative products. In October 2017, Aurora Plastics LLC announced that it has completed the acquisition of the compounder segment of S&E Specialty Polymers of Lunenberg. Through this acquisition, the company will look to offer a broad range of custom compounding capabilities. Increasing number of company mergers and acquisitions will have a positive impact on the growth of the global chlorinated polyethylene market in the coming years.
Asia Pacific to Emerge Dominant; Increasing Construction Activities to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the chlorinated polyethylene market in Asia Pacific is projected to emerge dominant in the coming years. The presence of several large scale companies involved in the research and development of the product will have a huge impact on the growth of the regional market in the coming years. The increasing construction and building activities, coupled with the increasing applications in the automotive sector will also contribute to the growth of the regional market in the foreseeable future.
List of companies profiled in the report:
Weifang Yaxing Chemical Co. Ltd.
SHOWA DENKO K.K.
Shandong Xuye New Materials Co. Ltd.
Shandong Xiangsheng New Materials Technology Co. Ltd.
Shandong Gaoxin chemical Co. Ltd.
Hangzhou Keli Chemical Co. Ltd.
Sundow Polymers Co Ltd.
Jiangsu Tianteng Chemical Industry Co. Ltd.
June 2018:PolyOneannounced the launch of a new product in the chlorinated polyethylene space. The company introduced ‘FireCon ,’ a branded chlorinated polyethylene material that can withstand harsh conditions and is used in jacketing and other cable and wire applications
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