Global Chlorinated Paraffin Wax Market to Reach ~ US$ 2.2 Bn by 2027

1. Global Chlorinated Paraffin Wax Market to Reach ~ US$ 2.2 Bn by 2027 Chlorinated Paraffin Wax Market: Driving on the Back of Growing PVC Product Demand Chlorinated paraffin wax is among the key secondary plasticizers that are used in flexible PVC manufacturing. Its growing application in various industries, including rubber, paints, lubricating additives, metalworking fluids, plastic additives, and others, has opened new opportunities for the market. Globally, growing number of building and construction projects and technological advancements taking place in the automotive industry have increased the demand for PVC products. As PVC products include chlorinated paraffin wax in large quantities, more and more players are putting in additional efforts to increase the production of chlorinated paraffin wax. Pertaining to these factors and other advancements taking place in the chlorinated paraffin wax market, Transparency Market Research presents in-depth insights on the growth of this market, in its newly published report. All the key factors relating to global market growth, regional growth, and competitors analysis have been thoroughly discussed in the report. Read More Report Overview @ https://www.transparencymarketresearch.com/chlorinated-paraffin-wax-market.html Growing Application of Chlorinated Paraffin Wax The production of chlorinated paraffin wax dates back to the 1930s. Initially, its application was seen in fire retardants, plasticizers, fire retardants and plasticizers in paints, fillers and antistatic agents in plastics, antiwear additives in cutting oils, and similar other uses. However, at the time, the environmental effects of using chlorinate paraffin wax were not known to the industry. But as its use increased and its production process evolved, its adverse effects on the environment came to light. To counter the harmful environmental effects of chlorinated paraffin wax, regulatory bodies such as the U.S. Environmental Protection Agency, Toxic Substance Control Act (TCSA), and others imposed various regulations and started governing and limiting its use. Short-chain chlorinated paraffin wax is banned in various countries, and some other countries limit its use. On the other hand, regulations related to long-chain chlorinated paraffin wax are comparatively less. Despite growing restrictions, the consumption of chlorinated paraffin wax has increased in various industries such as paints and coatings, rubber, plastic additives, and others. In 2018, the global chlorinated paraffin wax market had a revenue of ~ US$ 1.6 billion, which is expected to reach ~ US$ 2.2 billion by the end of 2027. Ongoing Trends Influencing Market Growth Growth in the Metalworking and Paints & Coatings Industries to Spur Demand Globally, the demand for chlorinated paraffin wax has grown immensely in the metalworking and paints and coatings industries. Increasing domestic manufacturing in the fabrication and metalworking industries in most of the Asia Pacific countries has resulted in expanding the use of chlorinated paraffin wax. Medium-chain chlorinated paraffin provides necessary lubrication at high temperature and pressure, which has further increased its demand in industrial cutting fluids and metalworking lubricants as a high-pressure additive. In the paints and coatings industry, chlorinated paraffin wax acts as a secondary plasticizer. Additionally, increasing building and construction

2. projects in India and China are also expected to drive the demand for chlorinated paraffin wax. China is the leading market in Asia Pacific, and the application of chlorinated paraffin wax is high in metalworking fluids in the country – expected to reach ~ 257 KT by the end of 2027. Strict Environmental Regulations Restricting the Use of Chlorinated Paraffin Wax Concerns related to environmental pollution have increased with the growing use of chlorinated paraffin wax. Thus, various regulations in different countries have lead to restrictions on its use. Chlorinated paraffin is very persistent and very bioaccumulative (vPvB), and has proven systemic toxicity along with toxicity to aquatic and terrestrial organisms. Short-chain chlorinated paraffin has high bioaccumulation as compared to the other two; therefore, its use is banned in many countries. Moreover, short-chain and medium-chain chlorinated paraffin wax have low solubility in water; they are easily accumulated on soil, water, and organisms, which has a huge environmental effect. Request For Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=66542 Recently, the U.S. Environmental Protection Agency (EPA) has taken initiatives to examine metalworking fluids, due to the risks they pose to the environment and wildlife. According to EPA, short-chain chlorinated paraffin possesses the ability to kill small aquatic creatures. This has led to robust research and developments activities performed by major manufacturers to lower the negative impact of chlorinated paraffin wax on aquaculture. With environmental regulations getting stricter and increasing threats related to the use of chlorinated paraffin wax, the Stockholm Convention on Persistent Organic Pollutants is limiting the use of these types of chemicals. Dover Chemical Corporation, a leading manufacturer of chlorinated paraffin, and leading importer, INOVYN (formerly INEOS Chlor Americas, Inc.), had to pay huge fines as a result of not complying with these regulations. Focus on Advanced Technologies and R&D to Favor Market Growth Capacity Expansion and Enhancing Manufacturing Facilities through R&D Players in the global chlorinated paraffin wax market are looking forward to expand their presence in different regions. To achieve this, they are engaged in extensive research and development activities for catering to various technical requirements from flame retardant manufacturers. A major chlorinated paraffin wax manufacturer, Dover Chemical, based in North America, has been investing in various research and development programs. The company’s aim to introduce a wide range of eco- friendly chlorinated paraffin wax products that offer various benefits such as ease of endurance to chloride, easy disposal, and resistance to corrosion. Initiatives such as these taken by leading players will help in reducing the environmental effect caused by chlorinated paraffin wax. Membrane Technology Likely to Replace Mercury Technology New technologies are expected to replace primitive technologies that were used to produce chlorinated paraffin wax. These newer technologies are projected to be more environmentally- friendly and consume less power during production. Emphasis on the use of membrane cell technology has grown significantly, especially in European countries, mainly to minimize the use of mercury cell technology. With mercury being a hazardous chemical, the European Parliament has issued the Industrial Emissions Directive (IED) to reduce its use. It is planning to completely phase- out the use of mercury by the end of 2020, and is promoting membrane cells, as they consume 26% less energy than mercury cells. Though the adoption of membrane cell technology will be capital-intensive, its rate of return is high, but in the long-run (nearly over 20 years). Despite

3. these concerns, the shift from mercury cells to membrane cells is primarily driven by occupational health and environmental concerns. For example, in 2019, INOVYN started the production of chlorinated paraffin at its new membrane chlorine cellroom at the Stenungsund site in Sweden, with the commissioning of a new plant. The Stenungsund cellroom is a new addition to INOVYN’s infrastructure, allowing its chlorinated paraffin to be available across Europe, by employing the best available membrane cell technology for manufacturing chlorinated paraffin wax. Request For Press Release @ https://www.transparencymarketresearch.com/pressrelease/chlorinated-paraffin-wax- market.htm Fragmented Vendor Landscape The global chlorinated paraffin wax market is moderately fragmented, as many local/regional/new players hold ~ 60% share in the market. Leading players, including the top four companies – INOVYN Dover Chemical Corporation NCP Chlorchem Aditya Birla Chemicals hold ~ 40% share in the market, due to which, they enjoy dominance of this market. Prominent players in the market are experiencing systematic growth through strategies related to product development and channel promotion. Huge investments made in research and development activities to diversify their product ranges are largely being undertaken by various companies. Moreover, customizing products as per the requirement of customers has also benefitted players in strengthening their position. Long-term raw material supply contracts and established distribution channels are offering existing key manufacturers with distinct advantages in terms of cost and product quality. Additionally, they are also focusing on expanding their sales channels by marking their presence on online channels. Engaging with customers and suppliers through different direct and institutional sales channels is also widely being adopted as a key strategy. For instance, Inovyn (Ineos Chlor) entered into an agreement with Tri-iso Tryline, LLC for marketing its chlorinated paraffin wax products. Company portals are also available for direct sales and distribution of chlorinated paraffin wax across various regions.