IMARC Group, a leading market research company, has recently releases report titled “Chlorinated Paraffins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global chlorinated paraffins market trends, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the chlorinated paraffins market?
The global chlorinated paraffins market size reached US$ 1.99 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.81% during 2023-2028.
What are Chlorinated Paraffins?
Chlorinated paraffins are a group of complex chemical compounds produced through the chlorination of normal paraffin hydrocarbons. They consist of a mixture of hydrocarbons with varying carbon chain lengths and degrees of chlorine substitution. These compounds exhibit a range of physical and chemical properties depending on the chlorine content and carbon chain length. They are generally colorless to yellowish liquids or waxy solids with a characteristic odor. Chlorinated paraffins are insoluble in water but soluble in organic solvents. They improve the flexibility, flame-retardant properties, and durability of PVC materials. These fluids help reduce friction, prevent tool wear, and enhance the overall efficiency of metalworking processes. Additionally, chlorinated paraffin finds use as a lubricant and cooling agent in metalworking fluids, providing enhanced performance during machining and cutting operations.
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What are the growth prospects and trends in the chlorinated paraffins industry?
The chlorinated paraffin market is driven by the rising demand for flame retardant additives in various applications. This can be supported by the wide utilization of paraffin in manufacturing electrical wires and cables, upholstery, automotive components, and building materials to reduce the risk of ignition and slow down the spread of flames. Besides, with increasing safety regulations and the emphasis on fire-resistant materials, the demand for chlorinated paraffin as flame retardants is expanding. Furthermore, manufacturers are investing in research and development to create chlorinated paraffin alternatives that offer similar functionalities while reducing environmental risks. This includes the development of low-toxicity, low-volatility, and biodegradable options. Apart from this, collaboration with industry stakeholders, including regulatory bodies, research institutions, and end-users, can help address concerns, improve product performance, and ensure compliance with environmental and safety standards.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Product Type:
- Medium Chain
- Short Chain
- Long Chain
Market Breakup by Application:
- Metal Working Fluids
- Lubricating Additives
- Plastics
- Rubber
- Paints
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Aditya Birla Chemicals (Thailand) Limited (Aditya Birla Group)
- Ajinomoto Fine-Techno Co. Inc. (Ajinomoto Co. Inc.)
- Altair Chimica S.p.A. (Esseco Group Srl)
- Caffaro Industrie SPA
- Dover Chemical Corporation (ICC Industries Inc.)
- Flow Tech Group of Industries
- INEOS Inovyn (INEOS Group Limited)
- JSC Kaustik (NikoChem Group)
- KH Chemicals BV (Ravago S.A.)
- KLJ Group
- NCP Chlorchem (Pty) Ltd
- Química Del Cinca Sl
- Vantage Specialty Chemicals Inc
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