Chlorinated Paraffin Market By Product Type (Short Chain, Medium Chain, Long Chain), By Application (Lubricating Additives, Plastics, Rubber, Paints, Metal Working Fluids, Adhesives): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global chlorinated paraffin market was valued at $1.8 billion in 2020, and is projected to reach $2.5 billion by 2030, growing at a CAGR of 3.2% from 2021 to 2030.
Chlorinated paraffin is commercially produced by the chlorination of linear chain hydrocarbons. They are classified based on the length of the carbon chains in the structure and the chlorine content. It has a variety of applications in several industries, such as plastics, metal processing, rubber, paints, adhesives, and sealants.
The global chlorinated paraffin market is driven by increase in demand for chlorinated paraffins in various end-use industries primarily coupled with product development that boosts the growth of the chlorinated paraffin industry during the forecast period. The widespread use of products as additives in metalworking fluids in flame retardants, lubricants & plastic additives, manufacturing, paints & coatings, textiles, and rubber industries will have a positive impact on the chlorinated paraffins industry in the future.
Increase in of demand for fibers and other products in various manufacturing sectors is primarily driven by a significant increase in personal income levels coupled with emerging economic nations is an important factor that supports the growth of chlorinated paraffins markets. Continuous production of all varieties of products such as adhesives, paints, and others in China and India will expand and affect product demand in Asian-Pacific. Chlorinated paraffin is added to poly vinyl chloride (PVC) to improve its flame retardancy, maintaining low temperature characteristics of plastic. The expansion of the world's PVC industry is expected to drive the growth of chlorinated paraffin markets in the future. In addition, increase in demand for products with PVC content, such as leaves, tubes, pipes, wires, and cables across the globe surges the demand for chlorinated paraffin during the forecast period. The above factors are expected to provide lucrative growth opportunities for market during the forecast period. A positive trend to adopt bio-based products, green environment images, and volatility in raw material prices will hinder the market growth in the future. Industrial growth may also interfere with internal substitution of short cycle varieties in some end-user industries.
The global chlorinated paraffin market is segmented on the basis of product type, application, and region.
According to the product type, it is classified into short-chain, medium-chain, and long-chain. Depending on application, it is classified into lubricating additives, plastics, rubber, paints, metal working fluids, and adhesives. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for largest market share of the total revenue in 2020, followed by North America and Europe. Increase in adoption of chlorinated paraffin products in the region bolster the growth of chlorinated paraffin market due to the presence of population base and many developing countries in this region. In addition, relatively improper regulations over the production of chlorinated paraffins toward manufacturers in the developing countries such as India, and China compared to developed countries are expected to provide lucrative growth opportunities for the market during the forecast period.
The key players operating in the global Chlorinated paraffin market are INOVYN, Altair Chimica SpA, INEOS Chlor, Caffaro Industrie S.p.A., Quimica del Cinca, S.A., LEUNA-Tenside GmbH, Dover Chemical Corporation, Handy Chemical Corporation Ltd., and Aditya Birla Chemicals.
Other market players (not profiled in report) in the chlorinated paraffin industry value chain include Ajinomoto Fine-Techno Co., Inc., United Group, NCP Chlorchem, Makwell Group, KLJ Group, Qualice, LLC, Flow Tech Group of Industries, and Dalian JX Chem-Industrial Corp., etc. are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the Chlorinated paraffin market in the forecast period.
COVID-19 Impact Analysis:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. Restrictions on international trade and lockdown regulations on the operations of the chemicals industry are projected to limit short term demand in the market. Outbreak of pandemic negatively impacted the development of the market, due to lockdown. This led supply chain disruptions, demand destruction, and brought a change in customer behaviour. Shutdown of various infrastructure activities in developing countries declined the demand for chlorinated paraffin market. Increase in e-commerce activities during the outbreak pandemic increased the awareness among people regarding the advantages of online shopping, hence, increasing the demand for chlorinated paraffin products which are used in packaging industry.
Key benefits for stakeholders
This report provides a detailed quantitative analysis of the current chlorinated paraffins market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
An in-depth analysis of chlorinated paraffins market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
Region-wise and country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2030 in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global chlorinated paraffins market.
Key Market Segments
By Product Type
Short Chain
Medium Chain
Long Chain
By Application
Lubricating Additives
Plastics
Rubber
Paints
Metal Working Fluids
Adhesives
By Region
North America
U.S.
Canada
Mexico
Europe
France
Germany
U.K.
Spain
Italy
Rest of Europe
Asia-Pacific
South Korea
Australia
Rest of Asia-Pacific
India
China
Japan
LAMEA
Brazil
Ksa
South Africa
Rest of LAMEA
Key Market Players
S.A.
INOVYN
INEOS CHLOR
CAFFARO INDUSTRIE S.P.A.
DOVER CHEMICAL CORPORATION
HANDY CHEMICAL CORPORATION LTD.
QUIMICA DEL CINCA
S.A.
ALTAIR CHIMICA SPA
ADITYA BIRLA CHEMICALS
LEUNA-TENSIDE GMBH
KLJ GROUP
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