Chlorinated Paraffin Market is set to hit $2,426 million by 2022, supported by a CAGR of 3.5% during the forecast period 2016 – 2022. China is one of the prominent producers of chlorinated paraffin and held nearly one-fifth of the total market in 2015.
Chlorinated paraffin is colorless or yellowish, viscous, dense oils, except for the chlorinated paraffins of long carbon chain length with high chlorine content (about 70%), which are solid. Chlorinated paraffin offers advantages such as flame retardancy and low-temperature strength as well as increases the flexibility of the materials.
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Chlorinated paraffins are used as extreme pressure additives as metal working lubricants or cutting oils. This is attributed to their compatibility with oils, viscous nature, and property of emancipating hydrochloric acid at high temperatures.
They improve the resistance to water and chemicals, which is most suitable when they are used in marine paints, as coatings for industrial flooring, vessels, and swimming pools.
Factors that drive the growth of the global chlorinated paraffin market are rise in PVC and metal working industry coupled with aerospace & industrial sector.
In addition, growth in automotive sector is also expected to fuel the demand for chlorinated paraffin in the near future. However, stringent regulations pertaining to use of short-chain chlorinated paraffin in many regions and availability of alternatives is expected to hamper the growth of this market in near future.
Medium-chain chlorinated paraffin is expected to maintain its dominance in the global chlorinated paraffin market during the forecast period. This is mainly attributed to its use as substitute to short-chain chlorinated paraffins in many applications.
However, short-chain chlorinated paraffin is estimated to hold one-fourth of the market share in Asia-Pacific due to lack of regulations to prohibit its use.
Metal working fluids and lubricating additives applications cumulatively dominated the global chlorinated paraffin market with more than half share in terms of volume, in 2015. Increase in demand for flame retardant properties across various end-use industries such as automotive and aerospace is anticipated to drive the chlorinated paraffin market during the analysis period.
“The demand for medium-chain and long-chain chlorinated paraffins in applications, such as metal working fluids and additives, is relatively high. A shift of manufacturing base from developed regions to Asia-Pacific region is expected in the near future.
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In 2015, Asia-Pacific and North America collectively accounted for two-thirds of the total chlorinated paraffin market and are expected to continue this trend, specifically in China, India, and other developing economies. Rise in lubricating sector is the main reason for the growth of the market in the Asia-Pacific region.
The major companies profiled in the report include INOVYN, Altair Chimica SpA, INEOS Chlor, Caffaro Industrie S.p.A., Quimica del Cinca, S.A., LEUNA-Tenside GmbH, Dover Chemical Corporation, Handy Chemical Corporation Ltd., and Aditya Birla Chemicals.
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