“Global Normal Paraffin Market: Types, Applications, Growth Rates and Shares, and Forecast: 2020 – 2029” is the title of one of the recently produced reports by the research team at Market.US. The global normal paraffin market is projected to reach a value of approximately US$ 3.6 Billion in 2029, from a value of around US$ 3 Billion in 2019. The global market is projected to register a steady growth rate of 1.9%. The market has been segmented on basis of form, application, and region.
Normal Paraffin is obtained from kerosene which comprises of 20 to 25 percent paraffin and therefore it is manufactured close to a refinery. More than 80 percent of Normal Paraffin is used for the Linear Alkyl Benzene production, and the remaining Normal Paraffin can be further processed to attain special quality solvents. These solvents are used for several industrial uses, which include varnishes, paints, and synthetic resins. Also, it can be used as printing inks and degreasing agents. In industries, normal paraffin functions as a dissolver for the production of polymers, resins, colors, artistic coverings, and grease polisher.
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Normal-Paraffins are made from select kerosene or gasoil, feedstock using molecular sieves extraction. After appropriate purification treatment of desulfurization, dearomatization, the n-paraffin stream is passed into the fractionation unit, then the desired carbon cuts are obtained. Normal paraffin is used as a solvent. It is an essential material in the manufacture of surfactants; lube oil components, in the manufacture of metalworking compounds, plasticizers, and chloroparaffins. Normal paraffin is also used for the production of oils for aluminum cold rolling; catalyst carrier for olefin polymerization; raw materials for a wide range of applications.
N-Paraffin is mainly used in manufacturing Linear Alkylbenzene (LAB) as well as in the manufacture of chlorinated paraffin wax, plasticizers, lamp oils, BBQ lighters, barbeque starters, sealant, adhesives, production of alcohol derivatives, cutting oils, lubricants, and metalworking products. The recent shift from internal combustion engine (ICE) vehicles to electric vehicles due to increased regulations on fuel car will impact on the demand for gasoline, which in turn is expected to hinder the market growth for normal paraffin. Paraffin is used to make candles, for packaging, and in the cosmetic industry. However recent development of bio-based products is anticipated to hinder the growth of the paraffin market in the forecast period
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The manufacturing procedure of n-paraffin end products requires skilled labor, state-of-the-art facilities, and controlled temperature conditions which need substantial investments. It might slightly affect the market growth in the coming years. Globally, the normal paraffin market is growing at a slow pace, and this situation is not expected to change. Asia Pacific region is currently leading the market due to its numerous applications. Demand in Europe, South America, and the Middle East, and Africa is expected to surge at a steady speed. North America is expected to witness a slower growth rate. The Middle East may emerge as a global hub for normal paraffin production. Linear alkylbenzene production is expected to grow at a higher rate as compared to fatty alcohol production and metalworking products.
Major players profiled in the final report include Royal Dutch Shell plc, JXTG Holdings, Sonneborn LLC, Calumet Specialty Products Partners, Apar Industries Ltd., Sasol Limited, Exxon Mobil Corporation, Compañía Española de Petróleos SAU (CEPSA), China Petroleum & Chemical Corp, and Petróleo Brasileiro SA.
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