Chlorinated Paraffin Market size to amass significant gains by 2024
Category: #business  By Ravi Chawat  Date: 2021-03-16
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Chlorinated Paraffin Market size to amass significant gains by 2024

The manufacturing industry is deemed to be a profitable quotient to the Chlorinated Paraffin Market due to the use of the product as an extreme pressure additive in metalworking fluids and in lubricants to provide chemical and water resistance. Chlorinated paraffin releases hydrochloric acid when reacting with the metal surface to form a strong thin layer of metal chloride, acting as a lubricant to the metal surface. The use of the product in these applications will propel the upward trend in chlorinated paraffin market growth by the end of 2024. The product's toxicity will cause adverse side effects on the environment and the biotic life may hamper the chlorinated paraffin market growth as end-users will try to substitute it with other similar products.

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The product market is segmented on the basis of grade as short-, long-, and medium-chain chlorinated paraffins. Among all, medium chain & long chain together will have a market of approximately USD 1.4 billion during the forecast period. This is due to the extensive use of the product as a plasticizer in rubber manufacturing and other industries coupled with the termination of the use of short chain grades in various countries.

Based on application, the chlorinated paraffin market is diversified as metalworking fluids, plastic additives, flame retardants, lubricating additives, and others. Metalworking fluids will have a market of over USD 600 million in the coming years. Increasing use of metalworking fluids in automobile, aerospace, manufacturing, and other industries will augment the market in the upcoming years.

On the basis of end-user, the chlorinated paraffin market is fragmented as manufacturing, textile, rubber, leather, paints & coatings, and others including plastics, adhesives, and sealants. Manufacturing and rubber are the significant end-user segments of this industry and both these segments will register a CAGR of approximately 3% during the study period.

The Asia Pacific region will grow at a significant rate and will have CAGR of over 3% by the end of the forecast period. Countries including India and China will increase the production of chlorinated paraffins owing to the myriad end-use applications, which require flame-retardant properties and thermal stability materials.

Glimpse of Table of Content (ToC)

Chapter 5. Chlorinated Paraffin Market, By Application

5.1.  Global Chlorinated paraffin market share by application, 2016 & 2024

5.2.  Lubricating additive

5.2.1.   Market estimates and forecasts, 2013 - 2024

5.2.2.   Market estimates and forecasts by region, 2013 – 2024

5.3.  Plastics additive

5.3.1.   Market estimates and forecasts, 2013 - 2024

5.3.2.   Market estimates and forecasts by region, 2013 – 2024

5.4.  Metal working fluids

5.4.1.   Market estimates and forecasts, 2013 - 2024

5.4.2.   Market estimates and forecasts by region, 2013 – 2024

5.5.  Flame retardants

5.5.1.   Market estimates and forecasts, 2013 - 2024

5.5.2.   Market estimates and forecasts by region, 2013 – 2024

5.6.  Others

5.6.1.   Market estimates and forecasts, 2013 - 2024

5.6.2.   Market estimates and forecasts by region, 2013 – 2024

 

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The major participants in chlorinated paraffin market include Altair Chimica, Ajinomoto Fine-Techno, INEOS Chlor, Aditya Birla Chemicals Company, Handy Chemical Corporation Ltd., JSC Kaustik, NCP Chlorchem, and Caffaro Industrie.

About Author

Ravi Chawat    

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article c...

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