Chlorinated paraffin market share from From metal working fluids application, will garner over USD 650 million in value by 2024. Escalating product demand along with immense application scope in aerospace, automotive, other manufacturing sectors may supplement segmental growth. The product works as a coolant, good flame retardant, and offers various other advantageous features. Chlorinated paraffin is primarily used as a key ingredient in the working of metal cutting fluids and is subsequently experiencing large scale adoption.
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The chlorinated paraffin market is projected to hit USD 2 billion by 2024, with an anticipated CAGR of 3%. Added by Global Market Insights, Inc., the document consists of substantial information on the market scenario, industry strategies, evolving technologies, market competitors, growth opportunities, and market segmentation.
Based on end-user, rubber and manufacturing industries will hold a 50% combined share in the chlorinated paraffin market by the end of 2024. Such high growth is attributable to wide acceptance of the product as a lubricative additive, softening agent, water repellant fabric treatment agent and in fire retardants.
In 2016, Asia Pacific held a significant share in the overall chlorinated paraffin industry and is forecast to showcase exponential growth rate over the analysis period, owing to large scale expansion of manufacturing industries across the region. Europe and North America chlorinated paraffin industries are expected to be valued at USD 600 million combined by 2024, dominating over one third of the global industry share.
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- Lubricating additive
- Plastics additive
- Metal working fluids
- Flame retardants
Key manufacturers operational in the global chlorinated paraffin market are Ajinomoto Fine-Techno, JSC Kaustik, Dover Chemical, Caffaro Industrie, Flow Tech Group of Industries, INOVYN, Aditya Birla Chemicals, Handy Chemical, Quimica del Cinca, Makwell Group, Altair Chimica, INEOS Chlor, LEUNA-Tenside, NCP Chlorchem and United Group.
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