Chlorinated Paraffin Market Size, Share, Growth Analysis, By Product Type(Short chain, medium chain, long chain), By Application(Lubricating additives, Plastics, Rubber, Paints), By Region - Industry Forecast 2024-2031

Global Chlorinated Paraffin Market size was valued at USD 1.6 billion in 2019 and is poised to grow from USD 1.7 billion in 2023 to USD 2.7 billion by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).

Chlorinated paraffin is inexpensive to produce, which is predicted to increase demand for them in products including paints and coatings, plastic, and lubricating additives. In addition, a rise in industrial uses for metalworking fluids is anticipated to drive up the price of chlorinated paraffin soon. The Asia-Pacific region's demand for chlorinated paraffin is anticipated to be driven by the ease with which raw materials are accessible. However, one of the main factors impeding the growth of chlorinated paraffin market is the availability of alternatives in a variety of applications. Soon, the market expansion is also predicted to be hampered by strict government rules concerning the use of chlorinated paraffin and the planned prohibition on particular grades in specific applications.

Due to rising purchasing power and shifting consumer lifestyles, there will be an increase in demand for autos, building and construction materials, rubber and plastic products, etc. in the next years. The product is heavily utilized in the creation of metal cutting fluids, added to PVC to create a variety of products, and used as a plasticizer in rubber and plastic goods to offer flexibility and flame-retardant properties. Flexible PVC commonly uses chlorinated paraffins in addition to primary plasticizers like DINP, DOP, etc. Flame retardants with high chlorine content are used in a variety of rubber and polymer types. Over the forecast period, more chlorinated paraffins are anticipated to be consumed due to the rising PVC demand. The demand for chlorinated paraffins is also significantly influenced by the fact that they are used as additives in metalworking oils and lubricants.

US Chlorinated Paraffin Market is poised to grow at a sustainable CAGR for the next forecast year.