Chlorinated Paraffin Market in manufacturing segment is anticipated to witness healthy growth during the forecast period due to the use of the product as an extreme pressure additive in metalworking fluids and in lubricants to provide chemical and water resistance. Chlorinated paraffin releases hydrochloric acid when reacting with the metal surface to form a strong thin layer of metal chloride, acting as a lubricant to the metal surface. The use of the product in these applications will propel the upward trend in chlorinated paraffin market growth by the end of 2024.
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From end-user perspective, chlorinated paraffin market is driven by manufacturing, paints and coating, rubber, textile and leather sectors. Its flame retarding characteristic has made it an important additive in fabrics, paints and coatings and plastics. Furthermore, its rising use as a plasticizer in the preparation of solvents, emulsion paints and varnishes will positively boost chlorinated paraffin industry share. Due to its characteristics such as high stability, low volatility, non-inflammability and easy compatibility, its utilization in paints and varnishes increases their resistance to acids and improves the elasticity of the final products, thus expanding the scope of chlorinated paraffin market expansion.
Based on application, the chlorinated paraffin market is diversified as metalworking fluids, plastic additives, flame retardants, lubricating additives, and others. Metalworking fluids will have a market of over USD 600 million in the coming years. Increasing use of metalworking fluids in automobile, aerospace, manufacturing, and other industries will augment the market in the upcoming years.
Subject to the growing manufacturing and textile sectors, Asia Pacific chlorinated paraffin market has been forecast to record a CAGR of 3.5% over 2017-2024. China and India apparently, would chiefly propel the APAC industry, given that both these economies are heavily involved in the continuous production of all grades of chlorinated paraffin, pertaining to the product demand from the manufacturing sector. The India manufacturing sector alone contributed to over USD 310 billion to the GDP in 2016. However, North America chlorinated paraffin market will depict a slightly sluggish growth graph, subject to the stringent regulatory framework in the region and the rising demand for bio-based and green products.
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The major participants in chlorinated paraffin market include Altair Chimica, Ajinomoto Fine-Techno, INEOS Chlor, Aditya Birla Chemicals Company, Handy Chemical Corporation Ltd., JSC Kaustik, NCP Chlorchem, and Caffaro Industrie.
Table Of Content For This Research Report:
Chapter 5. Chlorinated Paraffin Market, By Application
5.1. Global market share by application, 2016 & 2024
5.2. Lubricating additive
5.2.1. Market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecasts by region, 2013 – 2024
5.3. Plastics additive
5.3.1. Market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecasts by region, 2013 – 2024
5.4. Metal working fluids
5.4.1. Market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecasts by region, 2013 – 2024
5.5. Flame retardants
5.5.1. Market estimates and forecasts, 2013 – 2024
5.5.2. Market estimates and forecasts by region, 2013 – 2024
5.6.1. Market estimates and forecasts, 2013 – 2024
5.6.2. Market estimates and forecasts by region, 2013 – 2024
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