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Chlorinated Paraffin Global Market Report 2021: COVID-19 Growth And Change

Chlorinated Paraffin Global Market Report 2021: COVID-19 Growth And Change

  • August 2021
  • 175 pages
  • ID: 6128259
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the chlorinated paraffin market are INOVYN, Altair Chimica, Quimica del Cinca, LEUNA-Tenside GmbH, Dover Chemical Corporation, Aditya Birla Chemicals., Caffaro Industrie S.p.A., Ajinomoto Fine-Techno, Makwell Group, KLJ Group, Qualice LLC, NCP Chlorchem, Caffaro Industrie, Flow Tech Group, Golden Dyechem, KH Chemicals, and INEOS Chlor.

The global chlorinated paraffin market is expected to grow from $2.39 billion in 2020 to $2.50 billion in 2021 at a compound annual growth rate (CAGR) of 4.74%. The growth is mainly due to the growing demand from end-user industries. The market is expected to reach $2.81 billion in 2025 at a CAGR of 2.98%.

The chlorinated paraffin market consists of sales of chlorinated paraffin by entities (organizations, sole traders, or partnerships) that manufacture chlorinated paraffin, which is straight-chain hydrocarbons that have been chlorinated.Chlorinated paraffin is manufactured by chlorinating paraffin parts obtained from petroleum distillation.

These are complex mixtures of polychlorinated n-alkanes that are generally used as a plasticizer in manufacturing PVC compounds like PVC flooring cables, wires cloth coatings, and lubricants.

The main types of products for the chlorinated paraffin market are short-chain, medium-chain, and long chain.Short-chain chlorinated paraffin is a secondary plasticizer and flame retardant, medium-chain chlorinated paraffin is used in metalworking fluids as an extreme pressure additive, long-chain chlorinated paraffin is used as an alternative in leathers, paints and coatings.

The chlorinated paraffin market is applied to lubricating additives, plastic additives, metalworking fluids, and flame retardants. The chlorinated paraffin end-users are paint & coatings, rubber, manufacturing, textile, and leather.

Asia-Pacific is the largest region in the chlorinated paraffin market in 2020.Asia-Pacific is expected to grow faster in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The launch of post-consumer recycled (PCR) plastics is one of the key trends in the chlorinated paraffin market.PCR plastic is recycled from the plastics and then sterilized and (PP) polypropylene that is made from the polymerization of propene monomer packages.

Major companies are focusing on sustainable packaging to attract more consumers and survive in the competitive business environment. For instance, In 2019 Lush cosmetic engaged in manufacturing handmade skin products, that have begun using PCR and PP packaging which is known as polypropylene package made with resins that comes with an injection-molded container that is designed to hold cream and lotions.

In October 2020, Lubrizol Corporation, a USA-based specialty chemical company that supplies technologies and produces additives, ingredients, resins, and compounds have partnered with Grasim Industries Limited from Aditya Birla Group for establishing a plant to manufacture and provide CPVC resin in India.Lubrizol will make additional investments in the future to expand its existing CPVC compound plant in Gujarat and establish a local innovation center as demand continues to grow.

Grasim Industries Limited is an India-based company that involves in the production of chemicals and cement.

The increasing demand for the usage of PVC pipes and flooring is expected to drive the growth of the chlorinated paraffin market.Chlorinated paraffin is used as secondary plasticizers for polyvinyl chloride (PVC) pipes, cables, paints, flexible CPVC pipes, and flooring, which are used in the construction industry.

According to Invest India, National Investment Promotion and Facilitation Agency in India, the demand for PVC is growing in residential construction as the construction industry is expected to reach $738.5 billion by 2022. Moreover, according to IIFL Holdings Limited, an India-based financial services company, the Indian plastic pipes industry size was approximately $4.00 billion in 2019 with 60% demand from the agricultural sector and the remaining 40% from the construction sector. Thus, the growth of the construction industry is likely to generate higher revenues for the chlorinated paraffin market.

The countries covered in the chlorinated paraffin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

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