Chlorinated Paraffin Market to carve out a profitable growth from manufacturing sector
Growing application in manufacturing of metal and plastic products is poised to bolster chlorinated paraffin market outlook globally. Chlorinated paraffin is widely used as an additive for various applications including equipment and machineries, metal products and automobiles. Rapidly expanding manufacturing sector across the APAC region will boost product demand in the coming years.
Moreover, growing usage of plastic, and strengthening of aerospace and automotive sectors will further bolster demand for chlorinated paraffin. The product is extensively used as an additive in PVC in order to manufacture cables, films, pipes, wires, and other related products. Growing demand for the PVC products in insulation, transmission, construction and other industries may complement business growth in the coming years.
Global chlorinated paraffin market size is forecast to cross the USD 2 billion mark by 2024. Availability of substitute product in the market and fluctuating raw material costs may hinder chlorinated paraffin product proliferation. As the product is obtained from the distillation of petrol and variation in the oil prices results in raw material cost fluctuation, there can be negative impact on the overall industry growth.
Increasing preference for bio-based products in Europe and North America may hamper product adoption as well. However, medium and long-chain chlorinated paraffin grades will together account for a revenue of more than USD 1.5 billion in 2024 due to their excellent mechanical and physical properties such as low volatility, good stability, flame resistance, and others, which makes them ideal for a myriad of end-user domains.
Increasing imposition of fire & safety rules and regulations like NFPA 255, NFPA 703, NFPA 220, and CFPA across multiple countries including Japan, Germany, the U.S. and Australia could proliferate the demand for fire-resistant materials.
Request for sample: https://www.gminsights.com/request-sample/detail/2216
Virtually every infrastructure, service installation and design are affected by NFPA’s 275+ standards and codes. These codes reflect the evolving industry needs and shifting trends in technologies. With rising adoption of these fire safety norms, chlorinated paraffin could find wide-scale adoption in sealant, paints & coatings, adhesives, caulk, fabrics, and rubbers to provide flame-resistant properties.
However, the tendency to suppress the combustion rate is dependent on the chlorine content. As a result, it is mostly preferred over bromine and phosphate additives. Over the years, chlorinated paraffin has also witnessed heavy demand from the manufacturing sector as more manufacturers prefer to use it as an extreme pressure additive in lubricants and metalworking fluids to deliver water and chemical resistance. Additionally, CP produces hydrochloric acid while reacting with the metal exterior to form a solid thin metal chloride layer that acts as a lubricant to the metal exterior.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Email: [email protected]
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.