Chlorinated Paraffin Global Market Opportunities And Strategies To 2031

This report describes and explains the chlorinated paraffin market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.

The global chlorinated paraffin market reached a value of nearly $1,939.4 million in 2021, having grown at a compound annual growth rate (CAGR) of 2.0% since 2016. The market is expected to grow from $1,939.4 million in 2021 to $2,255.1 million in 2026 at a rate of 3.1%. The market is then expected to grow at a CAGR of 3.4% from 2026 and reach $2,669.0 million in 2031.

Growth in the historic period resulted from increased demand for PVC, increased partnerships and collaborations, supportive government initiatives and easy availability of raw materials. The market was restrained by environmental regulation and environmental concerns of short chain grade.

Going forward, growth in manufacturing sector, increasing demand for automobiles, an increase in investments and increasing demand from construction sector will drive market growth. Factor that could hinder the growth of the chlorinated paraffin market in the future includes availability of alternative products.

The chlorinated paraffin market is segmented by product into short chain, medium chain, and long chain. The medium chain market was the largest segment of the chlorinated paraffin market segmented by product, accounting for 49.7% of the total in 2021. Going forward, the long chain segment is expected to be the fastest growing segment in the chlorinated paraffin market segmented by product, at a CAGR of 3.1% during 2021-2026.

The chlorinated paraffin market is also segmented by application into lubricating additives, plastic additives, flame retardants, metal working fluids, and other applications. The metal working fluids market was the largest segment of the chlorinated paraffin market segmented by material, accounting for 32.8% of the total in 2021. Going forward, the plastic additives segment is expected to be the fastest growing segment in the chlorinated paraffin market segmented by material, at a CAGR of 3.3% during 2021-2026.

The chlorinated paraffin market is also segmented by end-user into paint and coatings, manufacturing, plastics, rubber, and other end-users. The manufacturing market was the largest segment of the chlorinated paraffin market segmented by end-user, accounting for 36.9% of the total in 2021. Going forward, the other end-users segment is expected to be the fastest growing segment in the chlorinated paraffin market segmented by end-user, at a CAGR of 3.3% during 2021-2026.

Asia Pacific was the largest region in the chlorinated paraffin market, accounting for 40.1% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the chlorinated paraffin market will be Asia pacific, and, South America where growth will be at CAGRs of 3.7% and 2.9% respectively. These will be followed by North America, and, Western Europe where the markets are expected to grow at CAGRs of 2.8% and 2.6% respectively.

The global chlorinated paraffin market is fragmented with large number of players operating in the market. The top ten competitors in the market made up to 17.94% of the total market in 2021. INOVYN was the largest competitor with 5.43% share of the market, followed by Grasim Industries Limited (Aditya Birla Chemicals) with 4.47%, Ajinomoto Co., Inc (Ajinomoto Fine-Techno Co Inc) with 2.40%, JSC Kaustik with 2.02%, Dover Chemical Corporation with 1.35%, LEUNA-Tenside GmbH (vantage specialty chemicals) with 0.99%, Altair Chimica SpA with 0.79%, NCP Chlorchem with 0.41%, Guangzhou Jiangyan Chemical Co Ltd with 0.05%, and KLJ Group with 0.03%.

The top opportunities in the chlorinated paraffin market segmented by product will arise in the medium chain market segment, which will gain $153.9 million of global annual sales by 2026. The top opportunities in the chlorinated paraffin market segmented by application will arise in the plastic additives market segment, which will gain $98.7 million of global annual sales by 2026. The top opportunities in the chlorinated paraffin market segmented by end-user will arise in the manufacturing market segment, which will gain $118.0 of global annual sales by 2026. The chlorinated paraffin market size will gain the most in China at $93.9 million.

Market-trend-based strategies for the chlorinated paraffin market include focus on collaborating with other companies for their market growth and product expansion, focus on mergers and acquisitions to acquire more production capabilities and focus on increasing investments and expanding product portfolios.

Player-adopted strategies in the chlorinated paraffin market include focus on expanding market presence through collaborations and partnerships, focus on enhancing operations through building new facilities and focus on improving customer service and supply through collaborations and partnerships.

To take advantage of the opportunities, the publisher recommends the chlorinated paraffin companies to increase focus on fast-growing product types, expand in emerging markets, provide competitively priced offerings, continue to participate in events and conferences, continue to use B2B promotions and target fast-growing applications.