What is the global market size of Chlorinated Paraffin Market?

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 Market Size

Chlorinated Paraffin Market Insights

Chlorinated Paraffin Market size was valued at USD 1.8 billion in 2023 and is poised to grow from USD 1.9 billion in 2024 to USD 2.94 billion by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).

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.

FAQs

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. 'Dover Chemical Corporation (United States) ', 'NCP Chlorchem (South Africa) ', 'Caffaro Industrie S.p.A. (Italy) ', 'Leuna Tenside GmbH (Germany) ', 'Química del Cinca (Spain) ', 'Aditya Birla Chemicals (India) ', 'Altair Chimica SpA (Italy) ', 'JSC Kaustik (Russia) ', 'Ajinomoto Fine-Techno Co., Inc. (Japan) ', 'KLJ Group (India) ', 'Makwell Group (India) ', 'Flow Tech Group of Industries (India) ', 'Ajanta Group (India) ', 'Hangzhou Fuyang Jingcheng Chemical Co., Ltd. (China) ', 'NCP Alcohols (South Africa) ', 'Jiangsu Hongyu Chemical Co., Ltd. (China) ', 'Danyang Auxiliary Chemical Co., Ltd. (China)'

The demand for chlorinated paraffin has increased as a result of rising PVC usage in the lubricant and compounding industries as well as in the construction and automotive industries. Numerous items, including profiles and tubes, film and sheets, pipe and fittings, bottles, and wire and cables, are produced using it widely.

One of the major developments influencing the chlorinated paraffin market is the creation of affordable flame retardants for polyethylene. Flame retardant mining belts, rubber adhesives, textiles, urethane foams, and caulks are all made with chlorinated paraffin. Furthermore, flame retardant high-density polyethylene (HDPE) formulations with good physical qualities can be made using chlorinated paraffin in conjunction with other flame retardant additives including magnesium hydroxide, antimony trioxide, and nanomers.

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.