Chlorinated paraffin wax is among the key secondary plasticizers that are used in flexible PVC manufacturing. Its growing application in various industries, including rubber, paints, lubricating additives, metalworking fluids, plastic additives, and others, has opened new opportunities for the market.
Globally, growing number of building and construction projects and technological advancements taking place in the automotive industry have increased the demand for PVC products. As PVC products include chlorinated paraffin wax in large quantities, more and more players are putting in additional efforts to increase the production of chlorinated paraffin wax. Pertaining to these factors and other advancements taking place in the chlorinated paraffin wax market, Transparency Market Research presents in-depth insights on the growth of this market, in its newly published report. All the key factors relating to global market growth, regional growth, and competitors analysis have been thoroughly discussed in the report.
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Growing Application of Chlorinated Paraffin Wax
The production of chlorinated paraffin wax dates back to the 1930s. Initially, its application was seen in fire retardants, plasticizers, fire retardants and plasticizers in paints, fillers and antistatic agents in plastics, antiwear additives in cutting oils, and similar other uses. However, at the time, the environmental effects of using chlorinate paraffin wax were not known to the industry. But as its use increased and its production process evolved, its adverse effects on the environment came to light. To counter the harmful environmental effects of chlorinated paraffin wax, regulatory bodies such as the U.S. Environmental Protection Agency, Toxic Substance Control Act (TCSA), and others imposed various regulations and started governing and limiting its use.
Short-chain chlorinated paraffin wax is banned in various countries, and some other countries limit its use. On the other hand, regulations related to long-chain chlorinated paraffin wax are comparatively less. Despite growing restrictions, the consumption of chlorinated paraffin wax has increased in various industries such as paints and coatings, rubber, plastic additives, and others. In 2018, the global chlorinated paraffin wax market had a revenue of ~ US$ 1.6 billion, which is expected to reach ~ US$ 2.2 billion by the end of 2027.
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Growth in the Metalworking and Paints & Coatings Industries to Spur Demand
Globally, the demand for chlorinated paraffin wax has grown immensely in the metalworking and paints and coatings industries. Increasing domestic manufacturing in the fabrication and metalworking industries in most of the Asia Pacific countries has resulted in expanding the use of chlorinated paraffin wax. Medium-chain chlorinated paraffin provides necessary lubrication at high temperature and pressure, which has further increased its demand in industrial cutting fluids and metalworking lubricants as a high-pressure additive. In the paints and coatings industry, chlorinated paraffin wax acts as a secondary plasticizer. Additionally, increasing building and construction projects in India and China are also expected to drive the demand for chlorinated paraffin wax. China is the leading market in Asia Pacific, and the application of chlorinated paraffin wax is high in metalworking fluids in the country - expected to reach ~ 257 KT by the end of 2027.
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