Global ChlorinatedParaffins Market: Highlights
· The global chlorinated paraffins market is projectedto grow at a CAGR of nearly 3.5% between 2019 and 2027.Growth in plastic and metalworking industries is primarily estimated to augmentthe global chlorinated paraffins market in the next few years. However,availability of application-specific substitutes and potential prohibition onthe production and consumption in developed regions are projected to hampermarket growth during the forecast period.
· Chlorinated paraffins are a group of synthetic chemicals that consist ofdifferent proportions of chlorine, generally ranging from 30% to 70% byweight. Chlorinated paraffins are commercially sold in various product formsbased on the carbon chain lengths such as l-grade, m-grade, and h-grade.L-grade signifies short carbon chain of 10 to 13, while m-grade signifiesmedium carbon chain length of 14 to 17 carbons. H-grade long chain chlorinatedparaffins contain carbon length of 18 and above. These product types are usedin various applications such as lubricating additives, plastic additives,rubber, paints, and metalworking fluids.
· Expansion in the lubricants market in Asia Pacific is likely to offergrowth opportunities to the chlorinated paraffins market during the forecastperiod.
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Global ChlorinatedParaffins Market: Segmental Trends
· In terms of volume, m-grade was the largest product segment of theglobal chlorinated paraffins market, accounting for more than 55% sharein 2018. Low cost and broad application array of m-gradechlorinated paraffins are the key reasons for its dominance. However, h-gradeof chlorinated paraffins is expected to increase its dominance over the nextfew years, considering the likely ban on consumption in developed regions suchNorth America and Europe.
· In terms of application, metalworking fluids was the largest segment ofthe global chlorinated paraffins market, accounting for over 35% sharein 2018. Chlorinated paraffins are also used in metalworkingapplications due to their flame retardant properties.
· The plastic additives segment is anticipated to be the fastest-growingapplication segment of the chlorinated paraffins market between 2019 and 2027. Risingdemand for PVC compounds in various end-user industries is estimated to propelthe demand for chlorinated paraffins in the next eight years in developingregions. Modest expansion in these industries in developed regions andfast-paced growth in developing regions are projected to drive the demand forchlorinated paraffins.
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Global ChlorinatedParaffins Market: Regional Highlights
· Asia Pacific accounted for more than 55% share of theglobal chlorinated paraffins market in 2018. This was primarilyascribed to the high demand in the metalworking and plastic industries. AsiaPacific is estimated to be the fastest-growing market during the forecastperiod due to continued high demand for chlorinated paraffins in the downstreammarkets in the region.
· The chlorinated paraffins market in developed regions such as NorthAmerica and Europe is estimated to experience low growth during the forecastperiod. Likely prohibition of production & consumption coupled withpotential substitution in major applications is projected to further affect thechlorinated paraffins market in the regions mentioned above. Countries such asCanada and the U.S. in North America and countries within the European Unionare expected to be the forerunners in the prohibition of the chlorinatedparaffins. Thus, the market for chlorinated paraffins in developed regions isanticipated to be unfavorable during the forecast period.
· Middle East & Africa is estimated to witness moderate growth duringthe forecast period. Factors such as presence of better substitutes and modestgrowth in downstream industries are affecting growth of the chlorinatedparaffins market in the region. The chlorinated paraffins market in LatinAmerica is projected to expand modestly, owing to supply constraints from NorthAmerica and moderate-to high-growth in the plastic and metalworking industriesin the coming years.
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Key Developments inGlobal Chlorinated Paraffins Market
· In April 2013, Qualice LLC started its chlorinemanufacturing unit. The manufacturing unit is engaged in the manufacture ofchlorinated products including very long chain chlorinated olefins andchlorinated paraffins.
· In 2008, KLJ Group commenced the production of chlorinatedparaffins at the manufacturing plant located in Thailand. The manufacturingplant has a production capacity of 12,000 tons per annum.
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Global ChlorinatedParaffins Market: Competition Landscape
· The global chlorinated paraffins market is significantly fragmented. Keyplayers in the chlorinated paraffins market include INOVYN, AjinomotoFine-Techno Co., Inc., Altair Chimica SpA, NCP Chlorchem, Dover ChemicalCorporation, Leuna Tenside GmbH, Química del Cinca, Caffaro Industrie S.p.A.,JSC Kaustik, KLJ Group, Qualice, LLC, United Group, Makwell Group, and AdityaBirla Chemicals.
· Strict regulations over manufacturing and potential prohibition indeveloped regions may lead to reduced competition in developed regions.However, competition from small players in developing regions is expected toplay a vital role in the next few years.
· Long-term raw material supply contracts and established distributionchannels offer existing key manufacturers with distinct advantages in terms ofcost and product quality
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