The Chlorinated Paraffin by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Chlorinated Paraffin, The chlorinated paraffin market size has grown strongly in recent years. It will grow from $2.12 billion in 2023 to $2.23 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to increased demand for pvc, increased partnerships and collaborations, supportive government initiatives and easy availability of raw materials.
The chlorinated paraffin market size is expected to see strong growth in the next few years. It will grow to $2.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to growth in manufacturing sector, increasing demand for automobiles, an increase in investments and increasing demand from construction sector. Major trends in the forecast period include focus on collaborating with other companies for their market growth and product expansion, focus on mergers and acquisitions to acquire more production capabilities and focus on increasing investments and expanding product portfolios.
The increasing demand for the usage of PVC pipes and flooring is expected to drive the growth of the chlorinated paraffin market. Chlorinated paraffin is used as a secondary plasticizer for polyvinyl chloride (PVC) pipes, cables, paints, flexible CPVC pipes, and flooring, which are used in the construction industry. According to Invest India, National Investment Promotion and Facilitation Agency in India, the demand for PVC is growing in residential construction as the construction industry is expected to reach $738.5 billion by 2022. Thus, the growth of the construction industry is likely to generate higher revenues for the chlorinated paraffin market.
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The chlorinated paraffin market covered in this report is segmented –
1) By Product: Short Chain, Medium Chain, Long Chain
2) By Application: Lubricating Additives, Plastic Additives, Flame Retardants, Metal Working Fluids, Other Applications
3) By End-User: Paint And Coatings, Manufacturing, Plastics, Rubber, Other End-Users
The launch of post-consumer recycled (PCR) plastics is one of the key trends in the chlorinated paraffin market. PCR plastic is recycled from the plastics and then sterilized and (PP) polypropylene is made from the polymerization of propene monomer packages. Major companies are focusing on sustainable packaging to attract more consumers and survive in the competitive business environment. For instance, in October 2022, NOVA Chemicals Corporation, a Canada-based petrochemical company launched EX-PCR-NC4 a new mechanically recycled polyethylene resin. By utilizing this product, converters and brand owners can achieve their sustainability objectives without sacrificing the performance of the packages in applications like shrink, e-commerce, heavy-duty sacks, and protective packaging. To reduce packaging’s carbon footprint and combat climate change, EX-PCR-NC4 contains 100% post-consumer recycled polyethylene (rPE) and offers extremely flexible design options.
The chlorinated paraffin market report table of contents includes:
1. Executive Summary
2. Chlorinated Paraffin Market Characteristics
3. Chlorinated Paraffin Market Trends And Strategies
4.Chlorinated Paraffin Market analysis
5. Chlorinated Paraffin Market Size And Growth
6. Chlorinated Paraffin Segmentation
7.Chlorinated Paraffin Regional And Country Analysis
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27.Chlorinated Paraffin Competitive Landscape And Company Profiles
28.Chlorinated Paraffin Key Mergers And Acquisitions
29. Chlorinated Paraffin Future Outlook and Potential Analysis
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