The chlorinated paraffin market is
driven by the growing plastic and metal working industries sector and an
increasing demand for flame retardant properties in these industries.
Short-chain and medium-chain chlorinated paraffins are widely used in these
applications. Growth of PVC industry is also expected to boost the demand for
chlorinated paraffin during the forecast period. However, anticipated
prohibition to the use of these chlorinated paraffins is expected to hamper the
growth of market. According to the analyst, the market is also expected to be
hampered by the availability of application-specific substitutes to chlorinated
paraffins.
1 Key Findings of Chlorinated Paraffin Market:
- Long-chain
chlorinated paraffin market is expected to grow with the highest CAGR
during the forecast period
- By
type of medium-chain chlorinated paraffin, 40%-70% segment and more than
70% segment have together accounted for majority share of about 75% in
2017
- Lubricating
additives application is expected to witness lucrative growth rate in
North America chlorinated paraffin market during the forecast period.
- The
U.S. was the highest contributor contributing more than half of the North
America chlorinated paraffin market in 2017, and is expected to grow at a
CAGR of 2.7% during the forecast period.
2 Advantages of Chlorinated paraffin Market
Chlorinated paraffin is colorless or yellowish, viscous, dense oils,
except for the chlorinated paraffins of long carbon chain length with high
chlorine content (about 70%), which are solid. Chlorinated paraffin offers
advantages such as flame retardancy and low-temperature strength as well as
increases the flexibility of the materials. Chlorinated paraffins are used as
extreme pressure additives as metal working lubricants or cutting oils. This is
attributed to their compatibility with oils, viscous nature, and property of
emancipating hydrochloric acid at high temperatures. They improve the
resistance to water and chemicals, which is most suitable when they are used in
marine paints, as coatings for industrial flooring, vessels, and swimming
pools.
3 Chlorinated paraffin Market by Application
- Lubricating
Additives
- Plastics
- Rubber
- Paints
- Metal
Working Fluids
- Adhesives
4 Rise in demand for PVC and metal working fluids
The rise in demand for PVC and metal working fluids in aerospace &
industrial and automotive sectors drive the growth of the North America
chlorinated paraffin market. However, stringent regulations pertaining to use
of short-chain chlorinated paraffin in many regions and availability of
alternatives is expected to hamper the growth of this market in near future.
5 Chlorinated paraffin Market by Product Type
- Short-chain
- Less
than 40%
- 40%–70%
- More
than 70%
- Mid-chain
- Less
than 40%
- 40%–70%
- More
than 70%
- Long-chain
- Less
than 40%
- 40%–70%
- More
than 70%
6 Chlorinated Paraffin Market Key Segmentation
This market is segmented based on product type, application, and
country. On the basis of product type, the market is classified into
short-chain, medium-chain, and long-chain. Based on chlorine content, each
product type is further segmented into less than 40%, 40%–70%, and more than
70%. Medium-chain chlorinated paraffin is expected to maintain its dominance in
the North America chlorinated paraffin market during the forecast period. This
is mainly attributed to its use as substitute to short-chain chlorinated
paraffins in many applications. Medium-chain and long-chain product segments
together accounted for about 85% of the total North America chlorinated
paraffin market value in 2017.
7 Lubricating additives and metal working fluids are the two potential
markets
On the basis of application, the market is bifurcated into lubricating
additives, plastics, rubber, paints, metal working fluids, and adhesives.
Lubricating additives and metal working fluids are the two potential markets,
expected to witness considerably higher growth rates over the forecast period.
Owing to the growing demand for chlorinated paraffin, these two applications
together account for around half of the North America chlorinated paraffin
market in 2017.
8 Key Market Players and Region of highest Market Share and Opportunity
By country, North America chlorinated paraffin market is analyzed
across, the U.S., Canada, and Mexico. The U.S. pose lucrative opportunities for
investment owing to its growing economy, construction sector, and increasing
purchasing power of developing economies. The popularity of the white building
material, fueled by its diverse and specialized applications, and the rise in
consumer purchasing power poses lucrative opportunities for the market.
The major companies profiled in the report include Ajinomoto Fine-Techno,
Caffaro Industries, Dover Chemical, INOVYN ChlorVinyls, JSC Kaustik, Petroleum
Additives, Pioneer Americas, Inc., and Ferro Corporation
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ReplyDeleteReally, many businesses were affected by the corona virus. our business related to chlorinated paraffin manufacturers and hydrochloric acid were also affected.
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