The new report by Expert Market Research titled, ‘Global Chlorinated Paraffin Wax Market Report and Forecast 2023-2028’, gives an in-depth analysis of the chlorinated paraffin wax market, assessing the market based on its segments like grades, applications, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 30.3 billion
- Forecast CAGR (2023-2028): 3.6%
- Forecast Market Size (2028): USD 37.2 billion
The global chlorinated paraffin wax market is being driven by the growing demand for rubber, paint and plastic additives in the building and construction sector. In the emerging economies, the residential and commercial construction is anticipated to witness a significant surge owing to the rising disposable income and growing population. Over the forecast period, the growing demand for PVC content such as sheets, pipes, wires, and cables in the industrial construction sector is likely to be a major driving factor in the market. The growing infrastructure development and increasing urbanisation will further augment the market growth. In terms of region, the Asia Pacific accounts for a significant share in the market and is anticipated to witness a considerable growth in the forecast period, owing to the growing expansion of the major chlorinated paraffin wax manufacturers and producers, especially in countries like India, China, and Japan. The market in the region will further be aided by the rising demand for chlorinated paraffin wax in the home décor and do-it-yourself (DIY) sector.
Industry Definition and Major Segments
Chlorinated paraffin wax is defined as a pale-yellow viscous liquid obtained by treating molten paraffin wax with chlorine. Properties of paraffin wax includes increased material flexibility, flame retardance, and low-temperature resistance.
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On the basis of grade, the market is divided into:
- Short Chain
- Medium Chain
- Long Chain
The significant applications of the product include:
The regional markets for chlorinated paraffin wax include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The growing investments and the research and development activities in the metalworking and paints & coatings industries is likely to be a major trend propelling the market growth. The growing concerns and stringent government regulations related to environment pollution will further holster the market. In addition to this, the growing expansion of the manufacturing facilities in the developing economies is likely to harness the demand for chlorinated paraffin wax. This is another crucial trend in the market.
Key Market Players
The major players in the market are INOVYN ChlorVinyls Limited, NCP Chlorchem (Pty) Ltd, Dover Chemical Corporation, LEUNA-Tenside GmbH., Química del Cinca, JSC Kaustik., and KLJ Group, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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