According to a new market report published by Lucintel, the future of the mineral oil market looks promising with opportunities in the cosmetics, personal care, food and beverage, electrical, industrial, biomedicine, and mechanical industries. The global mineral oil market is expected to grow with a CAGR of 3%-4% from 2020 to 2025. The major drivers for this market are growing demand for personal care and cosmetics products and the increasing use of mineral oil in the industrial sector.
Mineral oil is the odorless and colorless petroleum distillate that is derived from crude oil. And used as an emollient or a laxative. In this market, technical and white oil are the major mineral oil grades.. Lucintel forecasts that white oil will remain the largest segment over the forecast period due to its increasing use in the food and beverage industry.
Within this market, the personal care industry will remain the largest segment by application over the forecast period due to increasing consumer consciousness regarding their personal appearance.
Asia Pacific will remain the largest region over the forecast period due to growing population along with increasing health standards in the region.
BASF SE, Dow Chemical Company, Applied Thermal Control, Clariant AG, Solutia Inc., Petro Canada, Flowserve Corporation, Radco Industries, and Huntsman Corporation are among the major suppliers in the global mineral oil market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global mineral oil market by application, grade, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Mineral Oil Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global mineral oil market by application, grade, and region as follows:
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Cosmetics
Personal Care
Food and Bevergae
Electrical
Industrial
Biomedicine
Mechanical
By Grade [Value ($ Million) shipment analysis for 2014 – 2025]:
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
Italy
United Kingdom
German
France
China
India
South Korea
Japan
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
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