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
23rd August 2019
The global normal paraffin market is expected to be valued over US$ 3.6 Bn in 2029 and is projected to register a growth rate of 1.9% over the 10-year forecast period. The normal paraffin market report has been segmented on the basis of product type, application, and region/country.
Overview and Dynamics: Global Normal Paraffin Market
Normal Paraffin is obtained from kerosene by extraction process, and has wide range of applications such as for production of Linear Alkyl Benzene, which needs almost 80% of Normal Paraffin, and the rest is used for manufacturing barbeque (BBQ) lights, oil lamps, lubricants, adhesives, sealants, etc.
Drivers: Normal paraffin C 5 – C 8 can be processed further to manufacture chemical compounds including n-pentane and n-hexane etc. Demand for and adoption of n-pentane for producing polystyrene foam and pharmaceuticals is inclining, which is expected to drive growth of the global normal paraffin market.
Increasing adoption of gasoline-powered vehicles and rapid growth in the automotive sector in developed and developing countries is expected to result in higher adoption of high-octane gasoline, and this is expected to have a positive impact on growth of the global normal paraffin market.
Linear Alkyl Benzene is one of the raw materials for producing Linear Alkyl Sulphonate, which is expected to have a positive impact on growth of the global normal paraffin market over the next 10 years.
Normal paraffin is highly distilled and refined form extracted from kerosene and can be used to light the lamps. When heated, N-paraffin produces mild odor and no soot. This characteristic of the product makes it ideal option as compared to unrefined kerosene. This is additional factor projected to drive market growth.
Opportunities: Increasing need for precision casting of metals in various industries such as aerospace, electronics, and automotive, clubbed with requirement of N-paraffin for casting, are factors projected to fuel market growth.
Demand for normal linear paraffins as a principal feedstock for manufacturing linear alkylbenzene (LAB) is expected to increase at a global scale, and this, clubbed with increasing adoption of biodegradable detergents are collectively expected to boost normal paraffin market growth in the years to come.
Opportunity Map Analysis:
Global Normal Paraffin Market Segment Analysis:Going by an optimistic scenario, the global normal paraffin market revenue is projected to expand at a CAGR of over 2% and reach a value of approximatley US$ 3.8 Bn in 2029. Considering a likely scenario, the global market revenue is expected to expand at a CAGR of 1.9% and reach a value exceeding US$ 3.6 Bn. While a conservative scenario would result in the global normal paraffin market registering a CAGR of 1.5% and value of around US$ 3.5 Bn over the 10-year forecast period.
By Product Type: Among the three product type segments, the C 10 – C 13 segment is expected to record largest revenue share and register highest growth rate of more than 1.9% over the 10-year forecast period.
By Application: Among the application segments, the Linear Alkylbenzene segment is expected to record major revenue share and register highest compound annual growth rate of more than 1.8% over the 10-year period.
Global Normal Paraffin Market: Analysis by Region/Country:
The Asia Pacific normal paraffin market is projected to dominate the other regional markets in the global market and register highest growth rate over the next 10 years, followed by the markets in Europe and North America respectively.
Exxon Mobil Corporation (Year 2019)
Plans/Strategy; In January, ExxonMobil announced its plans to acquire a 4D survey offshore Guyana using the Ramform Tethys.
Contracts/Agreements; In January, the company and Renewable Energy Group signed a joint research contract with Clariant regarding the research into cellulosic biodiesel.
Contracts/Agreements; In January, the company granted a contract to TechnipFMC for its crude expansion project in Beaumont, Texas, the US.
Contracts/Agreements; In May, Exxon Mobil and PetroChina signed a US$53 billion, 30-year energy agreement with Iraq.
Plans/Strategy; In May, ExxonMobil announced its plans to sell a package of oil fields located in the Gulf of Mexico to Repsol and Ineos Group.
Contracts/Agreements; In October, the company, Lotus Midstream, and Plains All American announced to form a joint venture to build a new crude oil and condensate pipeline from the permian basin of West Texas to the Texas Gulf Coast in the US.
Exxon Mobil Corporation (Year 2018)
Contracts/Agreements; In July, Exxon, Pampa Energy, and Total Austral signed an agreement with government of Neuquen for the exploration of unconventional hydrocarbons in Vaca Muerta for a value of US$520 million.
Contracts/Agreements; In June, ExxonMobil and Plains All American Pipeline agreed to construct a common-carrier pipeline for transporting more than 1 million b/d of crude oil from Permian-to-Gulf Coast crude pipeline.
for its digital transformation.
Contracts/Agreements; In August, Exxon Mobil entered into an agreement with Azinam, a Namibian oil exploration and production company, to acquire 30% stake in Petroleum Exploration Licence (PEL) 44, offshore Namibia.
Contracts/Agreements; In August, ExxonMobil signed letter of intent with Apache along with EagleClaw and Kinder Morgan to support the Permian Highway Pipeline Project.
Exxon Mobil Corporation (Year 2017)
Plans/Strategy; The company plans to create a strategic alliance with Petroleo Brasileiro S.A.
Others; Exxon, Hellenic Petroleum, and Total showed an expression of hydrocarbons exploration and exploitation in island of Crete, Greece.
Asset Purchase; In October, the company purchased crude oil terminal in Delaware Basin, Texas from Genesis Energy.
China Petroleum & Chemical Corp (Year 2018)
Contracts/Agreements; In March, Unipec, the trading arm of Sinopec, signed a deal with to buy Middle East crude.
Contracts/Agreements; In July, Sinopec signed a joint development agreement with Alaska Gasline Development, China Investment, Bank of China to develop Alaska LNG Project worth US$43 billion.
Contracts/Agreements; In February, the company signed a cooperation and marketing agreement with Hengli Petrochemical.
Contracts/Agreements; In August, China Petroleum & Chemical announced its plans to construct 55.6 Bcm natural gas storage in northern China.
Corporate Changes/Expansions; In August, the company started a crude oil tank farm in Yizheng, China.
Plans/Strategy; In September, the company announced its plans to construct an oil refinery in Alberta, Canada.
Global Normal Paraffin Market Segmentation:
By Product Type:
- C-5 to C-9
- C-10 to C-13
- Other Types
- Linear Alkyl Benzene Production
- Fatty Alcohol Production
- Metalworking Products
- Other Applications
- North America
- Asia Pacific
- South America
- Middle East & Africa
- 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
- Petróleo Brasileiro SA
- Chapter 1 Global Normal Paraffin Market Overview
- 1.1 Introduction
- 1.2 Segmentation for Global Normal Paraffin Market, based on Product Type, Application, and Region
- 1.3 Drivers
- 1.4 Restraints
- 1.5 Opportunities
- 1.6 Trends
- 1.7 Macro-economic Factors
- 1.8 Opportunity Map Analysis
- 1.8.1 Optimistic Scenario:
- 1.8.2 Likely Scenario:
- 1.8.3 Conservative Scenario:
- 1.9 Opportunity Orbits
- 1.10 Market Investment Feasibility Index
- 1.11 PEST Analysis
- 1.12 PORTER’s Five Forces Analysis
- 1.13 Industry Chain Analysis
- Chapter 1 Global Normal Paraffin Market Overview
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