In a recent research report by QY Research, titled, “Global Chlorinated Paraffin’s Market Insight and Professional Survey Report 2019”, analysts have presented thorough data about the market. Researchers have used primary and secondary research methodologies to provide accurate data to the readers. The report covers market size, drivers and restrain, segment analysis, geographic outlook, key manufacturers, and competitive landscape.
The global chlorinated paraffin’s market was valued at US$1503.39 mn in 2018, and is expected to reach US$1622.18 mn by the end of 2025, rising at a CAGR of 1.13% during 2019-2025.
Global Chlorinated Paraffin’s Market: Drivers and Restraints
The global chlorinated paraffin market is expected to grow due to the increasing use of the product in production of plastic and in industries such as aerospace, automotive, and manufacturing. This is attributed to its various advantages such as flame retardancy, low-temperature strength, and high flexibility of material. They are commonly used as lubricants and coolants in metal forming and cutting industries. It is also commonly used in marine paints used on vessels, industrial flooring, and swimming pools due to its property to improve water and chemical resistance. These are some of the key factors playing a major role in boosting the global chlorinated paraffin market.
However, the chlorinated paraffin has harmful effects on humans as well as environment hence many governments have implemented regulation on its production. This is expected to hamper the growth of chlorinated paraffin market.
Global Chlorinated Paraffin’s Market: Segment Analysis
The global chlorinated paraffin market is segment into type and application. The type segment includes CP-42, CP-52, CP-70, and others. The application segment includes paints and coatings, rubber, manufacturing, textile, leather, and other industries.
Global Chlorinated Paraffin’s Market: Geographic Outlook
Due to heavy government regulations in developed countries, companies are expected to shift to emerging economies in regions such as Asia Pacific and others. The increasing regulation on its production in the U.S. and Europe is expected to shift the market in China and India, which will see make Asia Pacific a dominant market in the near future. Still South America is expected to hold a large share of the market. The report covers regions like North America, Europe, and Asia Pacific.
Global Chlorinated Paraffin’s Market: Key Manufacturers
The major players in the industries are INOVYN (INEOS), Danyang Auxiliary Chemical, Dover Chemical Corporation, KLJ Group, Huaxia Chemical Factory, LEUNA-Tenside GmbH, OCEANKING, SLG Group, Jiweize Chemical, LUXI, East Huge Dragon Chemical, Xinwei, Jiangyan Chemical, Caffaro Industrie S.p.A., Fuyang Jingcheng Chemical, Quimica del Cinca, Aditya Birla, Wenxian Sanxing Chemical, Jiaozuo Houji Chemical, and Lvbang Fine Chemical.
Global Chlorinated Paraffins Market: Competitive Landscape
Companies are developing new strategies to boost their share in the market such as product development, innovative technologies, and joint ventures. They are also focusing on mergers and acquisitions to enhance their business revenue.
Vantage Specialty Chemicals Holdings, Inc., which is an American speciality chemicals company has signed an agreement to acquire LEUNA-Tenside GmbH (“LTG”). This is acquisition of LTG will open new opportunities for Vantage in Europe. LTG’s production facility is located in Germany, which is similar chemistries to Vantage. They are planning to further expand their global manufacturing capacity and customer care service. This will give the company new markets and raise the bar for its competitors in the market.
Full Report Overview@ https://www.qyresearch.com/index/detail/980382/global-chlorinated-paraffins-market