Payal Group Increases their Chlorinated Paraffin Wax Capacity by 35 KT

At India's only integrated plant of primary and secondary plasticizers manufacturing facility in Dahej, Gujarat, Payal Group officially opened 35-kilo tonnes per annum (KTA) expansion for chlorinated paraffin production.

After the completion of this project, its capacity to produce chlorinated paraffin has increased to 70 KTA, placing it among the top three producers in India. The project is intended to benefit the region's growing downstream PVC industry and boost exports of secondary plasticisers.

About the Company

One of the top producers of plasticizers, including primary, secondary, and specialty PVC compounds, chlorinated paraffin, and other closely related chemicals, Payal Group places a high priority on research and development. Since the early 1980s, India's plastics and polymers industry has used products from the Payal Group.

The company is committed to upholding the highest standards of excellence in both its goods and services and is an ISO 9001-2015, ISO 14001-2015, and OHSAS 18001:2007 certified group. Due to this, the company has experienced exponential growth in both top-line revenues and bottom-line earnings.

Request Access For Regular Price Update of PVC

It provides a range of value-added speciality goods and services to a variety of industries, including plastics, construction, automobiles, footwear, wire & cable, vinyl leather, bio-medical, etc., due to focus on innovation.

The group has constantly increased value for its stakeholders and is recognised as a market leader in India and internationally for plasticisers.

Industrial Application for Paraffin Wax

Candles, packaging, board sizing, rubber, hot melts, cosmetics, and other products can all be categorised under the paraffin wax market. The main applications for paraffin wax are candles and cosmetics. The majority of aromatherapy in hotels, spas, and other commercial establishments uses candles.

Paraffin wax is used in cosmetics to soften skin during salon and spa treatments on the hands, cuticles, and feet.

Due to the rising demand for packaged foods, the packaging application segment is predicted to grow quickly in the near future. Excellent barrier against odour and gas transmission is provided by paraffin wax.

Paraffin Wax Price Trend

North America

The demand for paraffin wax was restricted in the North American region due to the cosmetics sector, and prices of paraffin wax fell in the quarter ending in December 2022. The pricing patterns of the commodity were impacted by the volatility of crude oil prices in @4 and the decline in market activity for paraffin wax in the final quarter of 2022. The domestic offtakes in the downstream sector were affected negatively this quarter due to recessionary uncertainties on the US market and an abundance of supplies.

Asia Pacific

For the quarter ending in December 2022, the price of paraffin wax in the APAC area showed a general downward trend. The constancy in output caused by the subsequent reduced upstream cost pressure and lower crude oil prices ultimately resulted in a decline in the commodity's worth.

Also, this quarter's Paraffin wax market participation in the downstream Cosmetics sector of the Chinese market was reduced by the COVID lockout disruptions and interruptions in the shipping flow. However, the global economic downturn, the South Korean truck driver strike, and the high levels of domestic inventories all had a detrimental impact on international trade and transportation costs.

Europe

Due to a decrease in domestic offtakes, Europe Paraffin Wax prices saw lower values in the quarter ending in December 2022. This quarter, weak downstream demand across the regional market was a result of high crude oil prices, skyrocketing inflation, and a bleak economic outlook.

The Paraffin Wax market participants also continued to exercise caution due to the declining output in November and their concerns about the tighter economic conditions; nonetheless, they made offtakes at reduced margins out of worry for stock builds up near the end of the year. Market participants continued to worry about the economy's tightening and made sales at reduced profit margins out of concern for stockpiling towards the end of the year.

Read More About PVC Production Cost Reports - REQUEST FREE SAMPLE COPY IN PDF

As per Procurement Resource, Payal Group officially launched a 35-kilo tonnes per annum (KTA) extension for the production of chlorinated paraffin at India's only integrated factory of primary and secondary plasticizers in Dahej, Gujarat. Its capacity to generate chlorinated paraffin has increased to 70 KTA with the completion of this project, putting it among the top three producers in India. The project aims to increase exports of secondary plasticizers and aid the region's expanding downstream PVC sector.