Global Chlorinated paraffin market is anticipated to exceed $2.5 billion by 2030, and registering a CAGR of 3.2% from 2021 to 2030. Chlorinated paraffin industry growth is driven by increase in demand for metalworking fluids in industrial applications and low manufacturing cost of chlorinated paraffin. On the other hand, stringent government regulations pertaining to the use of chlorinated paraffin is expected to hamper the growth to some extent. However, easy availability of raw materials is anticipated to create lucrative opportunities in the industry.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 4.02% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
The global chlorinated paraffin market is analyzed across product type, application, and region. Based on product type, the medium chain segment accounted for the major share in 2020, holding more than two-fifths of the global market. The short chain segment, however, would exhibit the fastest CAGR of 3.94% throughout the forecast period.
Based on application, the lubricating additives segment generated the highest share in 2020, accounting for nearly one-third of the global market. The adhesives segment, on the other hand, would exhibit the fastest CAGR of 4.46% from 2021 to 2030.
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Covid-19 scenario-
- Shutdown of various infrastructure activities in developing countries declined the demand for chlorinated paraffin.
- On the other hand, however, surge in e-commerce activities during the outbreak increased the awareness among people regarding the advantages of online shopping. This, in turn, heightened the demand for chlorinated paraffin products which are used in the packaging industry. This is how the pandemic has had a mixed impact on the global chlorinated paraffin market.
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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
Related Links
- Chlorinated Polyvinyl Chloride Market
- PVC Pipe Market
- Paraffin Wax Market
- Chlorinated Polyethylene Market
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