Overview:

Normal paraffin is extracted from kerosene and is a clear liquid made up of saturated hydrocarbons with a straight-chain structure. Normal paraffin is colorless and has mild odor and is insoluble in water and is widely used in manufacturing/ production of Linear Alkylbenzene (LAB) chlorinated paraffin wax, plasticizers, lamp oils, BBQ lighters, barbeque starters, sealant, adhesives, etc.

Market Dynamics:

Rapid industrialization in developing countries, increasing kerosene production activities across the globe, coupled with high investment of major players for development of advanced sealants and adhesives are major factor expected to drive the growth of global normal paraffin market during the forecast period. In addition, wide applicability of normal paraffin in manufacturing of alcohol derivatives, cutting oils, lubricants and metalworking products is another important factor expected to further support the growth of target market.

Increasing demand for normal paraffin from pharmaceutical sector and high investment by major players for development of various chemical such as n-pentane, n-hexane, and n-heptane is resulting in growing demand for normal paraffin thus augmenting the growth of the normal paraffin market.

Key Trends:

Major players strategy towards business expansion through merger and acquisitions, coupled with plant expansion activities in order to cater the ongoing demand are key trends witnessed in the global market. In 2017 ExxonMobil a global oil & gas player expanded its hydrocarbon fluids production capacity at its Antwerp, Singapore and Texas plants. The company planned to increase the capacity by 250,000 tons per years in order to cater the growing demand.

Regional Analysis:

For detailed understanding of market dynamics, the global normal paraffin market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the major revenue share in 2018, owing to high government spending on oil & gas sector. In addition, developing automotive industry in the region, rising demand for adhesives and sealants is another factor expected to increase demand for normal paraffin, further positively impacting the growth of regional market.

Scope of the Report:

Detailed Segmentation:

Global Normal Paraffin Market, By Product Type:

• Below C10 n-paraffin
• C10-C13 n-paraffin
• C14+ n-paraffin

Global Normal Paraffin Market, By Application:

• Solvent
• Degreasers
• Chlorination Paraffin
• Lubricants
• Linear Alkyl Benzene (LAB)
• Consumer Products
• Agriculture

Key Players Covered:

Key players operating in the normal paraffin market includes Sasol Limited, Royal Dutch Shell PLC, Farabi Petrochem, Savita, JXTG Nippon Oil and Energy Corporation, CEPSA Chemical (Shanghai) Co., Ltd., Sonneborn, LLC, China National Petroleum Corporation, and China Petroleum & Chemical Corporation.

Key features of the study:

Foresight Market Research provides detailed analysis on global market in our report- Global Normal Paraffin Market by product type, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global normal paraffin market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, ongoing trends, market expansion, and marketing tactics used overall the globe.