Albany, NY -- (SBWIRE) -- 08/16/2018 -- As per a recent research report by Transparency Market Research (TMR), the global chlorinated paraffin market is extremely fragmented. There are several companies in the market vary in size but competing with each other nevertheless. Leading players operating within the global chlorinated paraffin market are Aditya Birla Chemicals, Qualice, LLC, KLJ Group, Caffaro Industrie S.p.A., Leuna-Tenside GmbH, Química del Cinca, Makwell Group, INOVYN, NCP Chlorchem, Altair Chimica SpA, and Ajinomoto Fine-Techno.
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Global chlorinated paraffin market is anticipated to be worth US$1.98 bn by 2023, as per transparency market research. By carbon chain length, the market for M grade is anticipated to expand at an impressive pace on account of high demand from lubricating additives, PVC additives, and metalworking fluids. However, it is the H grade segment which is anticipated to be the one which holds the leading market shares within the chlorinated paraffin market. On the basis of application, the metalworking fluid segment has been leading in the market on account of this flame retardant properties.
Asia Pacific Leading Regional Market, Fuelled by Flourishing Paints and Coatings Industry
On the basis of geography, it is anticipated that Asia Pacific market for chlorinated paraffin which will expand at an impressive pace on account of the easy availability of raw materials as well rising applications of chlorinated paraffin in the metalworking sector. The growing demand for PVC compounds on account of the progress of the plastic industry is also going well for the chlorinated paraffin market in Asia Pacific. India and China are at the forefront of the chlorinated paraffin market in Asia Pacific. The growth of the paint and coatings industry in Asia Pacific will also drive the growth opportunities for the chlorinated paraffin market in the region. Europe and North America anticipated are witnessing sluggish growth within the chlorinated paraffin market on account of the detrimental effects of M grade chlorinated paraffin on both humans and wildlife.
High Demand for Metal Forming and Metal Cutting Accelerating Growth of Chlorinated Paraffins
Chlorinated paraffin are used extensively for metal forming as well as metal cutting applications. They are in highly demand as they are used extensively in in industrial cutting fluids. They are used for the manufacturing of automobiles and automobile parts, and for cutting oils. The flourishing plastic industry is a key factor boosting the growth of this market. The high demand for chlorinated paraffin in commercial paints, adhesives, sealants, and lubricating additives are driving the growth of the global chlorinated paraffin market. The expanding applications of chlorinated paraffin in the paint industry is boding well for the growth of the market. On the other hand the adverse effects of chlorinated paraffin on humans, animals, and environment will act as a hinderance and restrain the growth of the market from reaching its fullest potential.
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This review of the market is based on a recent market research report published by Transparency Market Research, titled, "Chlorinated Paraffins (L-grade, M-grade, and H-grade) Market for Lubricating Additives, Plastic Additives, Rubber, Paints, Metalworking Fluids, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.