Increasing Industrialization to Make Chlorinated Paraffins Market Attract Revenue Worth US$1.98 bn by 2023 - TMR

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Jan 07, 2019, 06:30 ET

ALBANY, New York, January 7, 2019 /PRNewswire/ --

According to a recent report by Transparency Market Research, the global chlorinated paraffins market is prognosticated to be highly fragmented. This is majorly a direct result of the emergence of different players in the regional market. With expanding item portfolios coupled with expanding number of players, the competition is estimated to grow further. Most players are concentrating on advancements and developments so as to draw in a large number of consumers over the globe.

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Increased participation in collaborations, partnerships, mergers and acquisitions, and improving geographical reach, and delivering product differentiation are important procedures implemented by most players in the global chlorinated paraffins market. Some of the major players operating in the global chlorinated paraffins market are Ajinomoto Fine-Techno Co., Inc., INOVYN, Altair Chimica SpA, Dover Chemical Corporation, NCP Chlorchem, Leuna Tenside GmbH, Caffaro Industries S.p.A., Química del Cinca, JSC Kaustik, Qualice, LLC, KLJ Group, United Group, and Aditya Birla Chemicals, Makwell Group.

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Statistically, the global chlorinated paraffin market is likely to increase the revenue of worth US$1.98 bn by the end of 2023. Such growth is calculated at enduring CAGR of 3.2% within the forecast period from 2015 to 2023.

In terms of carbon chain length, the global market is broadly divided into M-grade, L-grade, and H-grade. Tin 2015, the global market was led by M-grade segment with major share in market. The segment is estimated to flourish at a notable speed owing to exceptional usage in metalworking fluids, lubricating additives, and PVC additives in developing regions. As per the geography, the global chlorinated paraffins market is dominated by Asia Pacific, as far as volume is concerned. The region was accounted for major share in 2014, and is likely to lead the market with the major share in coming years as well at a notable pace credited to convenient availability of various raw materials and increasing application of chlorinated paraffins in the metalworking sector.

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Surging Demand for Improved Metal Cutting to Augment Global Growth

An increasing demand regarding quality metal-slicing activities mainly because of a flood in relevant applications is primarily augmenting the global chlorinated paraffins market. The substances are widely utilized in industrial cutting fluids. And with far reaching industrialization happening around the world, the need for the chlorinated paraffins is expanding steadily. Aside from industrialization, rapidly growing automobile sector also is fueling the global chlorinated paraffins market. This is majorly because of broad utilization of the paraffins as adhesives, paints, lubricating additives, and sealants at the time of manufacturing procedures of the automobiles. A major trend propelling the market is the mushrooming paint sector.

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Harmful Chemical Effects to Hinder Market Expansion

Nevertheless, harmful impacts of the chemicals on human health and in addition on the environment are chief components influencing the global chlorinated market in a negative manner. With favorable activities taken by several governments in regards to powerful utilization of the chlorinated paraffin, the market is required to experience through several roadblocks sooner rather than later. Moreover, lack of availability of the paraffins chemicals in remote and autonomous areas also acts like a noteworthy factor limiting the global chlorinated paraffins market. Nevertheless, many companies are likely to improve their administrations, thus balancing most hindrances influencing the global chlorinated paraffins market.

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The review is based on the findings of a report by Transparency Market Research, titled "Chlorinated Paraffins (L-grade, M-grade, and H-grade) Market for Lubricating Additives, Plastic Additives, Rubber, Paints, Metalworking Fluids, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023."'

The report segments the global chlorinated paraffins market as follows:

Chlorinated Paraffins Market - Product Analysis

L-grade
- A1 (<40%)
- A2 (40%-70%)
- A3 (>70%)
M-grade
- B1 (<40%)
- B2 (40%-70%)
- B3 (>70%)
H-grade
- C1 (<40%)
- C2 (40%-70%)
- C3 (>70%)

Chlorinated Paraffins Market - Application Analysis

Lubricating Additives
Plastic Additives
Rubber
Paints
Metalworking Fluids
Others (Including Sealants, Adhesives, etc.)

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