The global chlorinated paraffin market is accounted to US$ 2,226.3 Mn in 2018 and is expected to grow at a CAGR of 3.4% during the forecast period 2019 - 2027, to account to US$ 3,002.5 Mn by 2027
NEW YORK, Nov. 11, 2019 /PRNewswire/ --
The global chlorinated paraffin market is accounted to US$ 2,226.3 Mn in 2018 and is expected to grow at a CAGR of 3.4% during the forecast period 2019 – 2027, to account to US$ 3,002.5 Mn by 2027. Chlorinated paraffin is produced by the chlorination of paraffin fractions that are derived from petroleum refining. It is characterized by properties such as flame retardant, low-temperature flexibility, stain resistance, chemical resistance, and other useful properties. The chlorinated paraffin market is mainly driven by factors such as the expansion of the PVC industry and increasing demand for metal working fluids globally. The substantial shift of consumers towards long-chain chlorinated paraffin further bolster the demand for chlorinated paraffin market.
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The global chlorinated paraffin market by the product type has been segmented into short-chain, medium-chain, and long-chain.Medium-chain is the most widely used type of chlorinated paraffin due to its wide application in lubricant additives and adhesives.
The rising demand for carbonless copy paper and the application of MCCPs as a leather softener is projected to influence the demands for MCCPs over the forecast period.MCCPs as a leather softener is widely used in the footwear industries.
Therefore, the growing demand for footwear has led to an upsurge demand for MCCPs.
Based on application, the chlorinated paraffin market is bifurcated into, lubricant additives, plastic, rubber, paints, metal working fluids, adhesives, and others.The lubricant additives segment dominated the global chlorinated paraffin market.
Chlorinated paraffin is used as metal surfactants in the lubricant additives.Extreme pressure additives formulate to produce high-quality lubricants.
Moreover, the increasing expansion of the automotive industry has led to an upsurge in the production of chlorinated paraffin globally. These factors propel the growth of the chlorinated paraffin market in the lubricant additives application.
A key trend which is projected to affect the chlorinated paraffin market in the coming year is the destruction behavior of medium-chain chlorinated paraffin and short-chain chlorinated paraffin.The emission of chlorinated paraffin in the atmosphere through solid waste is one of the major reason for concern and serves to be as toxic to the environment that restricts the growth of chlorinated paraffin.
A research study in Japan has been successful in exhibiting the destructive behavior of SCCPs and MCCPs. The research states that the destruction efficiencies that were recorded for both SCCPs and MCCPs were exceeding 99.9%. Incineration experiment with the solid waste of approximately 3% (w/w) SCCPs and MCCPs were carried out using the pilot-scale incinerator to examine the destruction efficiency. The SCCPs have been listed as persistent organic pollutants (POPs). A series of these experiments were successful in proving that the SCCPs and MCCPs were eliminated and progressively destroyed during the rotatory kiln combustion and during the downstream flue gas treatments. The destruction efficiencies were of SCCPs and MCCPs were recorded and confirmed to be exceeding 99.99999%. This proves that controlled incineration of solid wastes and right management of solid waste will prove to be one the best available technologies for the depreciation of the toxicity levels of SCCPs and MCCPs to be exposed to the environment. These factors are expected to have a significant impact on the chlorinated paraffin market.
Some of the players present in Chlorinated Paraffin market are Aditya Birla Chemicals, Altair Chimica SpA, Ajinomoto Fine-Techno Co., Inc., Caffaro Industrie S.p.A., Dover Chemical Corporation, Handy Chemical Corporation .ltd, INEOS CHLOR, KLJ Group, LEUNA-Tenside GmbH, and Química Del Cinca among others.
The overall global chlorinated paraffin market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Chlorinated Paraffin market.
Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Chlorinated Paraffin market.
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