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.
Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on “Global Chlorinated Paraffin Wax Market“
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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