“Global Normal Paraffin Market by Type, by Application, and by Region/Country (North America, Europe, Asia Pacific, South America, and Middle East & Africa) – Forecast from 2020 to 2029” is a recently created report at MarketResearch.biz. It is through in-depth research study, both primary and secondary, inputs from industry experts, as well as systematic segmentation of the market, that the research results and outcome have been presented in a systematic flow in the final report. The report presents the first five-year cumulative revenue (2020 – 2024), which is expected to be valued at around US$ 16 Billion, and this is projected to increase significantly over the latter part of the five-year forecast period.
Normal Paraffins (n-paraffins) are colorless liquid, made up of saturated aliphatic hydrocarbons, arranged in straight chain-like structure. Most of the paraffin compounds in naturally occurring crude oils are normal paraffins. Also, it can be obtained from coal crude oil or kerosene. Sometimes ‘Fischer-Tropsch process’ is used to extract at gas-to-liquid production units.
Normal paraffin C 10 – C 13 has mild odor, and is water-insoluble, tasteless, slow-evaporating; environment friendly, and bio-degradable along with slight sooting similar to lamp oil. Most of the normal paraffin obtained is used as raw material for production of Linear Alkyl Benzene (LAB), while remaining can be further processed to produce special solvents which are used in numerous industrial applications such as paints and varnishes, synthetic resins, printing inks, and degreasing agents, among others. It acts as a dissolver for manufacturing colors, polymers, resins, grease polishers, and artistic coverings.
Browse the full “Global Normal Paraffin Market by Type, by Application, and by Region/Country (North America, Europe, Asia Pacific, South America, and Middle East & Africa) – Forecast from 2020 to 2029” report at https://marketresearch.biz/report/normal-paraffin-market/
Global Normal Paraffin Market: Dynamics
Rapid growth in global automotive industry, growing adoption of gasoline-powered cars, clubbed with increasing demand for high-octane gasoline for use in higher-performance gasoline engines that need higher fuel compressibility are among the major factors expected to drive growth of the normal paraffin market.
Moreover, normal paraffin is widely used in manufacturing Linear Alkylbenzene, and in other applications including plasticizers, chlorinated paraffin wax, BBQ lighters and BBQ starters, lamp oils, cutting oils, sealants and adhesives, lubricants, alcohol derivatives, and metalworking products. This is another major factor expected to drive market growth.
Global Normal Paraffin Market: Segmental Snapshot
The global market report is segmented on basis of product type, application, and region/ country. The product type segments include C-5 to C-9, C-10 to C-13, and others. The application segments include Linear Alkyl Benzene production, fatty alcohol production, metalworking products, and others. The regions covered in the analysis include North America, Europe, Asia Pacific, South America, and Middle East & Africa.
By Product Type: The C-10 to C-13 segment is expected to register comparatively higher CAGR of over 1.9% over the 10-year forecast period
By Application: The Linear Alkyl Benzene production segment is projected to register comparatively higher growth rate of over 1.8%, followed by the metalworking products segment
By Region: The Asia Pacific market is projected to register highest CAGR of over 2.1%, followed by the Middle East & Africa market
Competitive Analysis: Global Normal Paraffin Market
The research report on the global normal paraffin market include profiles of some of major players such as JXTG Holdings, Sonneborn LLC, Royal Dutch Shell plc, Calumet Specialty Products Partners, Sasol Limited, Apar Industries Ltd., Compañía Española de Petróleos SAU (CEPSA), Exxon Mobil Corporation, Petróleo Brasileiro SA, and China Petroleum & Chemical Corp.
“Global Normal Paraffin Market: Insights, Market Size & Share, Growth Rate, Ongoing Trends, and Market Forecast: 2020–2029” report has been produced based on deep market study and analysis, along with inputs from experts in the industry. The report includes present scenario and growth prospects of the market for 2019–2029.
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