As per this study the Global Mineral Oil Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%. By volume, the market was estimated XX KT in 2019 and is expected to reach XX KT by 2026 with a CAGR of XX%.
Mineral oil refers to any oil which is the mineral source, especially distilled of petroleum. It’s a colorless, oily and almost tasteless insoluble liquid consists of mixtures of hydrocarbons. Mineral oil is used as a lubricant in cosmetics and as a laxative in medicines. It's available in light and heavy grades often in drug stores. It has application in skin care and cosmetics, hair care, biomedicine, industrial, food preparation, and others.
The rising demand for personal care products such as skin care & cosmetics and hair care is driving market growth. Increasing consumption in processed food, baby oil and lotion are again accelerating the market growth. Additionally, its health benefits such as help in improving skin condition, digestive system, and also helps to strengthen hair are further fuelling its demand. On the other hand, the fluctuating price of raw materials and rising environmental concerns regarding use of mineral oil may restrict market growth. Whereas, growing usage of mineral oil in the industrial sector as a thermic fluid is anticipated to augment demand during the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of mineral oil.
The broad mineral oil market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
- Cosmetic Grade
- Skin Care and Cosmetics
- Hair Care
- Food Preparation
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for mineral oil in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Mineral Oil Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the mineral oil market include Applied Thermal Control, BASF SE, Clariant AG, Dow Chemical, Flowserve Corporation, Huntsman, Petro Canada, Radco Industries and Solutia Inc. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.