C5-C8 Normal Paraffin Market is Anticipated to Expand at a Healthy CAGR of 3.2% by 2026

The C5-C8 regular paraffin market will register a CAGR of 3.2% from 2018 to 2026. The market is expected to reach a valuation of $48,736.6 million by the end of 2026 compared to $36,811.1 million in 2017.

Overview of the global C5-C8 Normal Paraffins market with reference to the outlook of the global chemical and materials industry

Recycling and reuse activities have an impact on the sales of virgin materials, reducing reliance on growth driven by volume. Although chemical firms are still some time away from mass manufacturing and excellent quality, new materials offer promise for value-oriented growth. With a few notable exceptions, most participants continue to place a higher priority on short-term volume growth than long-term value growth. Manufacturers are under pressure to increase profitability, which is driving them to increase productivity and cut expenses. Although value-led growth may not have an immediate impact, the long-term picture continues to support a balanced strategy that balances value and volume.

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Manufacturers are under increasing pressure to include digital solutions in their offerings. Forward-thinking manufacturers invest in technology to reduce human intervention and streamline key operational aspects like ordering and shipping. The Internet of Things (IoT) has the potential to transform and disrupt the chemical sector as it spills its influence over every industry. Connectivity through IoT devices is gaining traction, while product-level sensors on dispensers and kegs are helping manufacturers digitally track their shipments.By evaluating the long-term benefits, chemical companies benefit from digitalization by adopting digital platforms and processes that eliminate human error in for-profit operations.

Manufacturers continue to look for low-cost raw materials to slightly reduce pre-production costs. Industry leaders join forces to replace fossil fuel-derived raw materials with bio-based alternatives. However, concerns about mass-scale production of affordable and sustainable commodities remain a challenge. Access to quality and affordable raw materials will continue to be a focus area for manufacturers. Chemical manufacturing processes run on limited energy, while a lot of raw materials are stranded in ports as rejection by import authorities keeps disrupting supply chains in sectors such as the oleochemical and petrochemical industries.

Chemical manufacturers have pledged support and compliance to governments and regional authorities committed to green, sustainable initiatives. The development of organic alternatives is gaining momentum. Research and academic institutes work with manufacturers to formulate sustainable substitutes for commonly used chemical substrates. Many companies are closely following the advances in "green chemistry". The shift to green chemicals will gain momentum in the future due to government regulations and end-user preferences. Rising fossil fuel costs will also leverage the upswing for sustainable chemical manufacturing.

List of Factors tracked in Chemicals and Materials Market Report

Added value for the chemical industry
Sale of chemicals
Per capita consumption
Standard Capacity Factors
Outlook on plastic consumption
Outlook on glass consumption
Policies and Regulations
Historical growth of top players
Growth in related markets
Net trade scenario
Apparent production capacity

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Research methodology

PMR uses a robust methodology and approach to determine market size and associated forecasts. The research methodology for this report is based on a three-dimensional model. We conduct detailed interviews with product manufacturers lasting approx. 45-60 minutes; Apart from that, we also collect market feedback from industry experts. To validate this data, we interact with senior panel members with more than 10 years of experience in relevant fields. Panel members help validate the results and fill in any gaps. In addition, we use our existing information pool, paid database and other valid sources of information that are publicly available.Typically, industry interactions span 50+ interviews with market participants across the value chain.

Data collection

PMR collects data from secondary sources, including company annual reports, association publications, industry presentations, white papers and company press releases. Apart from that, we use paid database subscriptions and industry magazines to comprehensively collect market information and developments. After the desk research is completed, a detailed questionnaire and discussion guide are formulated to initiate primary research with key industry personnel. The discussion aims to gather key insights, growth prospects, prevailing market trends and quantitative insights including market size and competitive developments.These two research approaches help us to determine base year figures and market hypotheses.

Data validation

In this phase, PMR validates the data using macro and microeconomic factors. For example, electricity consumption growth, industry value added, other industry factors, economic performance, top players growth and industry performance are closely examined to arrive at precise estimates and refine any anomalies.

Data analysis and projection

Data analysis and forecasts were prepared based on proprietary research frameworks and statistical analysis, which have been further validated by industry participants. These frameworks include year-over-year growth forecasts, performance of macroeconomic factors, market attractiveness analysis, key financial metrics, and others.

For listed companies, we collect the data from the company website, annual reports_bk_01_01_2020, investor presentations, paid databases. While we try to collect information from the paid databases (like Factiva) for privately held companies, we estimate the revenue for the companies based on the information we collect from databases. In addition, the team tries to make a first contact with the companies to validate the assumptions or collect high-quality inputs.

Standard reporting structure

summary
market definition
Macroeconomic Analysis
Root Market Analysis
Market Overview
prognostic factors
Segment Analysis and Forecast
Regional Analysis
competitive analysis

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The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing - 'The Way Forward'.

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