USD 1.6 billion
Report ID: SQMIG15A2058 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 66 | Figures: 75
Global Chlorinated Paraffin Market size was valued at USD 1.6 billion in 2021 and is poised to grow from USD 1.7 billion in 2022 to USD 2.7 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).
Chlorinated paraffin is inexpensive to produce, which is predicted to increase demand for them in products including paints and coatings, plastic, and lubricating additives. In addition, a rise in industrial uses for metalworking fluids is anticipated to drive up the price of chlorinated paraffin soon. The Asia-Pacific region's demand for chlorinated paraffin is anticipated to be driven by the ease with which raw materials are accessible. However, one of the main factors impeding the growth of chlorinated paraffin market is the availability of alternatives in a variety of applications. Soon, the market expansion is also predicted to be hampered by strict government rules concerning the use of chlorinated paraffin and the planned prohibition on particular grades in specific applications.
Due to rising purchasing power and shifting consumer lifestyles, there will be an increase in demand for autos, building and construction materials, rubber and plastic products, etc. in the next years. The product is heavily utilized in the creation of metal cutting fluids, added to PVC to create a variety of products, and used as a plasticizer in rubber and plastic goods to offer flexibility and flame-retardant properties. Flexible PVC commonly uses chlorinated paraffins in addition to primary plasticizers like DINP, DOP, etc. Flame retardants with high chlorine content are used in a variety of rubber and polymer types. Over the forecast period, more chlorinated paraffins are anticipated to be consumed due to the rising PVC demand. The demand for chlorinated paraffins is also significantly influenced by the fact that they are used as additives in metalworking oils and lubricants.
US Chlorinated Paraffin Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.6 billion
To get more reports on the above market click here to Buy The Report
Chlorinated Paraffin Market is segmented based on product type, application, and region. Based on product type, the Chlorinated Paraffin Market is segmented into the short chain, long chain, and medium chain. Based on application, the Chlorinated Paraffin Market is segmented into lubricating additives, plastics, rubber, paints, metal working fluids, and adhesives. Based on region, the global chlorinated paraffin market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA.
Chlorinated Paraffin Market Analysis by Product Type
Global chlorinated paraffin market is divided into short-chain, medium-chain, and long-chain segments. Due to its extensive use in lubricant additives and adhesives, medium-chain chlorinated paraffin is the type that is most frequently utilized. Over the forecast period, it is anticipated that the rising demand for carbonless copy paper and the use of MCCPs as a leather softener will have an impact on MCCP demand. In the footwear industry, MCCPs are frequently used as a leather softener. As a result, there is an increase in demand for MCCPs due to the increased need for footwear.
Due to its excellent stability, complete compatibility, non-flammability, and other characteristics, the grade is largely utilized as a plasticizer in the synthetic rubber production industry. M-chain grade typically has a carbon chain length of 14 to 17 carbon atoms and chlorine content of 40%–70%. The product's key properties, including resistance to extrusion, low volatility, superior chemical stability, non-toxicity, and moisture-proof, make it the ideal lubricant and metalworking fluid additive in the manufacturing industry across global chlorinated paraffin market. Because the M grade is more affordable, it can be used in a wide range of end-user industries, including adhesives, sealants, commercial paints, etc. This will increase the market penetration of chlorinated paraffin throughout the forecast period.
Chlorinated Paraffin Market Analysis by Application
Metalworking fluids, accounted for more than 35% of the global chlorinated paraffin market demand. In applications involving metal cutting, chlorinated paraffin is employed as an extreme pressure lubricant. Due to its flame retardant qualities, this paraffin is used in metalworking applications in addition to lubrication.
Second-largest application segment in the global chlorinated paraffin market was plastic additives in 2021. Between 2028 and 2028, the chlorinated paraffin market is expected to develop at the quickest rate in this segment. During the projected period, rising PVC compound consumption across a range of end-user sectors is anticipated to drive up demand for chlorinated paraffin.
The market is divided into manufacturing, rubber, paints & coatings, leather, and textile industries when application segments are taken into account. Plastics, adhesives & sealants, and other minor application segments are included. Due to the growing use of rubber and flame retardant goods in automobiles, buildings, packaging, and other items, the manufacturing and rubber sectors will expand collectively at a considerable CAGR of more than 3% throughout the projection period. By 2024, this will fuel the market for chlorinated paraffin to increase. Rubber's compatibility with oils, flame retardancy, water, chemical resistance, and viscous nature makes it ideal for the production of rubber goods such as cable, toys, conveyer belts, carpet backing, etc., and will drive the segment's expansion over the projection period.
To get detailed analysis on other segments, Request For Sample Report
The demand for flame retardants is projected to increase as a result of factors such as new environmental legislation, safety standards from end-user industries, and tighter fire safety norms in developed regions like North America and Europe. This would ultimately fuel the chlorinated paraffin market shortly. The region's population growth, expansion of the automobile and industrial industries, and steady economic growth are all predicted to contribute to an increase in Asia's consumption of chlorinated paraffin.
The demand for chlorinated paraffin is anticipated to rise most significantly throughout the forecast period in developing economies like China and India. The chlorinated paraffin market in this region is predicted to grow as a result of significant advancements in the use of lubricating additives. During the projection period, Middle East & Africa is anticipated to see moderate growth. The development of the chlorinated paraffin market in the region is being impacted by elements including the availability of superior replacements and limited expansion in the downstream sectors. Due to supply shortages from North America and expected moderate-to-high growth in the plastic and metalworking sectors over the next few years, the Latin American chlorinated paraffin market is expected to develop only a little.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Chlorinated Paraffin Market Driver
Chlorinated Paraffin Market Restraint
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global chlorinated paraffin market is relatively fragmented, with a high level of competition from larger players such as Dover Chemical, INOVYN, INEOS Chlor, United Group, Aditya Birla Chemicals, Ajinomoto Fine-Techno, JSC Kaustik, LEUNA-Tenside GmbH, Altair Chimica SpA, Caffaro Industrie. These players are holding a significant portion of the global market share. In order to stay competitive and generate higher market revenue, these industry leaders are constaly taking efforts for extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance profitability.
Chlorinated Paraffin Market Top Player’s Company Profiles
Chlorinated Paraffin Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis of chlorinated paraffin market, the chlorinated paraffin is inexpensive to produce and is in high demand for products including paints and coatings, plastic, and lubricating additives. Furthermore, the demand for chlorinated paraffin is anticipated to rise in the future due to an increase in the need for metalworking fluids in industrial applications. The demand for chlorinated paraffin in Asia-Pacific is anticipated to be fueled by the simple accessibility of raw materials. However, the availability of alternatives in some applications restricts market expansion. Furthermore, the usage of chlorinated paraffin is subject to strict government controls, and it is anticipated that some grades may soon be banned from use in specific applications.
Metalworking fluids, largest semgnet of chlorinated paraffin market, accounted for more than 35% of the global demand. The demand for flame retardants is projected to increase as a result of factors such as new environmental legislation, safety standards from end-user industries, and tighter fire safety norms in developed regions like North America and Europe.
|Market size value in 2021||USD 1.6 billion|
|Market size value in 2030||USD 1.7 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Chlorinated Paraffin Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Chlorinated Paraffin Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Chlorinated Paraffin Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Chlorinated Paraffin Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.