Chlorinated Paraffin Wax Market
Chlorinated Paraffin Wax Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Chlorinated Paraffin Wax Market is segmented by Grade, Application, and by Region. KDMI analyst foresees market revenue to cross USD 3.8 Billion by 2032 by growing with a CAGR of 4.9% during 2024-2032.
Chlorinated Paraffin Wax Market Highlights
The global chlorinated paraffin wax market is expected to cross a value of USD 3.8 billion by the end of 2032. The market was valued at USD 2.6 billion in 2023 and is expected to expand at a CAGR of 4.9% between 2024-2032.
- Over the mid-term, the rise in demand for the product in metalworking and PVC industries is the primary factor anticipated to drive the global chlorinated paraffin wax market.
- The health impacts associated with the use of the chemical is the major factors to challenge the market growth.
- The Asia Pacific chlorinated paraffin wax market is projected to dominate the global market.
Chlorinated Paraffin Wax Market: Report Scope |
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Base Year |
2023 |
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Base Year Market Size |
USD 2.6 Billion |
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Forecast Year |
2024-2032 |
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Forecast Year Market Size |
USD 3.8 Billion |
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CAGR Value |
4.9% |
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Chlorinated Paraffin Wax Market Key Trends/Major Growth Drivers |
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Restraint Factors |
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Chlorinated Paraffin Wax Market Segmentation |
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Chlorinated Paraffin Wax Market Key Players |
INOVYN, INEOS, Caffaro Industrie, DOVER CHEMICAL CORPORATION, Quimica del Cinca, Aditya Birla Chemicals (India) Limited, LEUNA-Tenside GmbH, KLJ Group, Flow Tech Group of Industries, Ajinomoto Fine-Techno Co., Inc., Makwell Plastisizers Private Limited, JSC KAUTIK, Panoli Intermediates India Private Limited, Golden Dyechem, Shiva Group, Gurunanak Chemical Industries, ARIHANT SOLVENTS AND CHEMICALS, and others. |
Chlorinated Paraffin Wax Market Outlook
Chlorinated paraffin wax, also abbreviated as CPW, is a viscous, oily liquid, or semi-solid substance produced by the chlorination of straight-chain paraffin fractions. The chemical is primarily composed of long-chain hydrocarbons with varying degrees of chlorination, ranging from 30% to 70% by weight.
One of the major factors expected to drive the growth of the chlorinated paraffin wax market is the extended use of the chemical compound in the production of PVC products due to its flame retardancy, heat stability, and flexible properties. Hence, with the rise in demand for PVC products, the demand for the chemical compound is also expected to increase. As per our analysts, more than 40 million tons of PVC are produced every year globally. INOVYN, INEOS, and Caffaro Industrie are some of the significant parties in the global market for chlorinated paraffin wax.
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Chlorinated Paraffin Wax Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global chlorinated paraffin wax market are:
- Growing Demand for Metalworking Fluids: In the manufacturing industry, where different machining tools are used, chlorinated paraffin wax is used as an extreme pressure additive for improving machining efficiency, reducing friction, and enhancing the surface finish of the metal. As per our analysts, machine tool consumption around the globe crossed USD 80 billion in 2023 while production using machine tools reached USD 83 billion in the same year.
- Expanding Construction and Infrastructure Development Worldwide: The applications of PVC in the construction industry is often very wide, ranging from its use in flooring, pipes, and cables among others. With the expanding construction industry worldwide and the rising demand for PVC in this sector, the demand for construction chemicals, which as per the analysts at KD Market Insights is expected to touch a revenue of USD 108.3 billion by 2035, is projected to grow significantly in the years to come.
Which Probable Factors Could Hamper the Growing Chlorinated Paraffin Wax Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of chlorinated paraffin wax are:
- Health Impacts Associated with the Use of the Chemical: The rise in concern regarding the environmental and health impacts associated with the use of chlorinated paraffin wax is one of the major factors predicted to hinder the market growth.
- Rise in Availability of Low-Cost Alternatives: The surge in adoption of alternative substances and additives that have lower health risks as well as environmental impacts is expected to lower the growth of chlorinated paraffin wax market.
How is the Global Chlorinated Paraffin Wax Market Segmented?
Our experts at KD Market Insights have segmented the global chlorinated paraffin wax market as:
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By Grade |
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By Application |
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By Region |
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What are the Probable Factors Influencing the Asia Pacific Chlorinated Paraffin Wax Market Forecast?
The Asia Pacific chlorinated paraffin wax market is majorly driven by the expanding industrial lubricants and automotive lubricants sector as well as the surge in construction activities in the region. The Asia Pacific region has a significant manufacturing sector, including automotive, machinery, and aerospace industries, which require metalworking fluids, lubricants, and cutting oils for machining operations. As per our analysts, the revenue generated by the sales of lubricants in the region is projected to grow with a CAGR of about 3% and cross USD 90 billion in the next five years.
As per our analysts at KD Market Insights, the following five players lead the Asia Pacific chlorinated paraffin wax market growth:
- INOVYN
- NCP Chlorchem
- Aditya Birla Chemicals
- KLJ Group
- Makwell Group
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Key Countries to Watch for in Asia Pacific Chlorinated Paraffin Wax Market |
Key Insights |
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China Chlorinated Paraffin Wax Market to Register the Largest Regional Market Share in 2032 |
USD 0.4 Billion |
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India Chlorinated Paraffin Wax Market to Grow with the Highest CAGR During 2024-2032 |
5.2% |
Which Key Players Top the Global Chlorinated Paraffin Wax Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global chlorinated paraffin wax market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with chlorinated paraffin wax market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global chlorinated paraffin wax market share:
- INOVYN
- INEOS
- Caffaro Industrie
- DOVER CHEMICAL CORPORATION
- Quimica del Cinca
- Aditya Birla Chemicals (India) Limited
- LEUNA-Tenside GmbH
- KLJ Group
- Flow Tech Group of Industries
- Ajinomoto Fine-Techno Co., Inc.
- Makwell Plastisizers Private Limited
- JSC KAUTIK
- Panoli Intermediates India Private Limited
- Golden Dyechem
- Shiva Group
- Gurunanak Chemical Industries
- ARIHANT SOLVENTS AND CHEMICALS
What are the Recent Developments Observed in the Chlorinated Paraffin Wax Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global chlorinated paraffin wax market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Nimir Industrial Chemicals recently expressed its interest in investing more than USD 6 Million in several expansion projects, which also includes building a 10,000 tons annual production capacity chlorinated paraffin wax plant in Pakistan in the Asia Pacific region.
Further, the two subsidiaries of TK Group of Industries, namely, Samuda Food Product and Samuda Chemical Complex, announced to invest of close to USD 160 million at Bangabandhu Sheikh Mujib Shilpa Nagar (BSMSN) in Bangladesh for producing consumer goods and chemicals, including chlorinated paraffin wax.
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- Publication date: 7th March 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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