Portland, OR, May 24, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the chlorinated paraffin market was estimated to be worth $1.8 billion in 2020 and is expected to reach $2.5 billion by 2030, registering a CAGR of 3.2% from 2021 to 2030. The report provides an in-depth analysis of the main pockets of investment, best winning strategies, drivers and opportunities, market size and estimations, competitive scenario and hesitating market trends.
Rising demand for metalworking fluids in industrial applications and low manufacturing cost of chlorinated paraffin are driving the growth of the global chlorinated paraffin market. On the other hand, the strict government regulations regarding the use of chlorinated paraffin is expected to hamper the growth to some extent. However, the easy availability of raw materials is expected to create lucrative opportunities in the industry.
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- The shutdown of various infrastructure activities in developing countries has reduced the demand for chlorinated paraffin.
- On the other hand, however, the increase in e-commerce activities during the epidemic has heightened people’s awareness of the benefits of online shopping. This, in turn, has increased the demand for chlorinated paraffin products that are used in the packaging industry. This is how the pandemic has had a mixed impact on the global chlorinated paraffin market.
The global chlorinated paraffin market is analyzed by product type, application, and region. Based on product type, the medium chain segment accounted for the majority in 2020, holding more than two-fifths of the global market. The short chain segment, however, would show the fastest CAGR of 3.94% throughout the forecast period.
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Based on applications, the lubricant additives segment generated the highest share in 2020, accounting for almost a third of the global market. The adhesives segment, on the other hand, would show the fastest CAGR of 4.46% from 2021 to 2030.
By region, the North American market captured the lion’s share in 2020, capturing nearly two-fifths of the global market. The Asia-Pacific region, on the other hand, should cite the Fastest CAGR by 4.02% by the end of 2030. Other provinces studied in the report include Europe and LAMEA.
The major market players analyzed in the global chlorinated paraffin market report are INOVYN, Altair Chimica SpA, INEOS Chlor, Caffaro Industrie SpA, Quimica del Cinca, SA, LEUNA-Tenside GmbH, Dover Chemical Corporation, Handy Chemical Corporation Ltd. . and Aditya Birla. Chemical products. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures and others to strengthen their position in the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.