Global Mineral Oil Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
“Global Mineral Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global mineral oil market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global mineral oil market report has been segmented on the basis of class, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Mineral oil is odorless and colorless petroleum distillate. It is derivate from crude oil. It is used in medicines application as an emollient or a laxative. Mineral oil is also applied to skin in order to retain moisture in the skin and make it more pliable and softer. It is also used as solvent, insulator, and lubricator in various industries such as F&B, cosmetic, etc. Mineral oil has many health benefits such as helps in improving skin condition, digestive system, and also helps to strengthen hair. In addition, it is use for residential purpose including sanitization of houses, prevent rusting, and remove stains.
Growing demand for personal care products and cosmetics among individuals is a major factor driving growth of the global mineral oil market. Increasing use of mineral oil in skin creams, mineral oil lotions, and hair oils is the other factor supporting growth of the target market. Food grade mineral oils are approved by Food and Drug Administration and other food regulatory authority. Growing its use in food preparations is another factor fueling growth of the target market. Furthermore, growing usage of mineral oil in industrial sector as a thermic fluid is other factor expected to boost growth of the global mineral oil market in the near future.
However, changing prices of crude oil may hamper growth of the global mineral oil market. In addition, toxicity caused by prolong use of mineral oil such as irritation, redness, stinging, etc. is another factor that could affect growth of the target market. Increasing use of high grade mineral oil for aromatherapy and biomedicines is key trend witnessed in the target market.
On the basis of application, the cosmetics and personal care segment anticipated to witness high growth in the near future. Increasing demand of personal care products and baby care products in emerging economies is a factor supporting growth of this segment in the global mineral oil market.
Market in North America accounts for major share in terms of revenue and is expected to maintain its position over the forecast period. High use of mineral oil food industry is a key factors propelling growth of the target market in North America region. In addition, growing popularity of aromatherapy among consumers is another factor expected to support growth of the target market in the region. Asia Pacific market in expected to account for second-highest share in terms of revenue in the near future. This is primarily attributed to rising awareness regarding various types of personal care products and increasing disposable income in country in this region.
Global Mineral Oil Market Segmentation:
Segmentation by class:
- Paraffinic Oils (Composed of n-Alkanes)
- Naphthenic Oils (Comprises Mainly Cyclo-Alkanes)
- Aromatic Oils (Composed of Aromatic Hydrocarbons)
Segmentation by application:
- Cosmetics and Personal Care
- Food and Beverage
- Electrical and Industrial
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- BASF SE
- The Dow Chemical Company
- Petro Canada (Suncor Energy Inc.)
- Huntsman International LLC
- Solutia Inc.
- Radco Industries, Inc.
- Clariant AG
- Flowserve Corporation
- Applied Thermal Control Limited
- Chevron Corporation
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