Chlorinated Paraffin Wax Market to Grow through 2024
Growth
in manufacturing sector to drive demand for chlorinated paraffin wax as several
companies in this sector are manufacturing equipment & machineries,
automobiles and metal products
According to
TechSci Research report, “Global Chlorinated
Paraffin Wax Market By Grade, By Application, By End User, By
Region, Competition Forecast & Opportunities, 2024”, the global chlorinated paraffin wax market is expected to
grow at a steady CAGR during the forecast period. Chlorinated paraffin wax is witnessing
adoption in various end user industries since they are non-inflammable,
non-poisonous, less volatile and provide high insulation. However, growing environmental
regulations are likely to hamper the growth of the market during forecast
period.
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Paraffin Wax Market"
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The global
chlorinated paraffin wax market is segmented based on grade, application, end
user, region and company. Based on grade, the market can be segmented into
short chain, medium chain and long chain. The medium chain segment is
anticipated to register the highest CAGR during the forecast period on account
of its stability, compatibility and non-inflammability properties. Based on application,
the market can be categorized into lubricating additives, plastic additives,
flame retardants, metal working fluids, plastics and adhesives. The metal
working fluid sector dominates the market on account of increasing demand
for metalworking
fluids in automotive, aerospace, and other manufacturing sectors. Based on end user, the market can be
categorized into paint & coatings, rubber, manufacturing, textile, leather
and others. The manufacturing and rubber segments are expected to grow at a fast
pace during the forecast period owing to the increasing usage of rubber
and flame retardants in automobiles, buildings, packaging and others.
Ajinomoto
Fine-Techno Co. Inc., Dover Chemical Corporation, JSC Kaustik, Caffaro
Industrie S.p.A, INOVYN Enterprises Limited, Flow Tech Group of Industries,
Aditya Birla Chemicals Limited, Handy Chemical Corporation Ltd., Altair Chimica
SpA, Quimica Del Cinca, S.A. and others are some of the leading players
operating in global chlorinated paraffin wax market. Companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations to boost their share.
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“Asia-Pacific is
expected to be the largest and fastest growing market during the forecast
period. The
market in the region is likely to expand at a rapid pace, due to the growth in
rubber, plastic, paints & coatings, and other manufacturing industries in China,
India, and South Korea. Moreover, increasing need for metalworking fluids in
countries such as China, Taiwan, Australia, India, and South Korea for
machining, manufacturing, and cutting processes is further anticipated to
augment the market in the region over the next five years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Chlorinated Paraffin Wax Market By Grade, By Application, By End User, By Region,
Competition Forecast & Opportunities, 2024” has evaluated
the future growth potential of global chlorinated paraffin wax market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global chlorinated paraffin wax market.
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