Mineral Oil Market – Registering a CAGR of 3.97 %, Industry Trends, Company Revenue Share, Business Outlook, Key players and Forecast to 2029

Data Bridge Market Research analyses that the Mineral Oil market was valued at USD 3.39 billion in 2021 and is expected to reach USD 4.63 billion by 2029, registering a CAGR of 3.97 % during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

Market Definition

Mineral oil is a chemical substance which has made from naturally occurring crude petroleum oil. Mineral oils are also known as baby oils, base oils, mineral base oils, or lubricant base oils. Mineral oils are transparent, colourless, oily liquids which are tasteless and odourless. They are insoluble in ethanol and water but soluble in petroleum ether, carbon disulfide, benzene, and volatile oils.

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Global Mineral oil Market Scope

The mineral oil market is segmented on the basis of class, grade and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Class

·         Paraffinic Oils

·         Naphthenic Oils

·         Aromatic Oils

Grade

·         Technical Oil

·         White Oil

Application

·         Cosmetic and Personal Care

·         Food and Beverage

·         Electrical and Industrial

·         Agriculture

·         Textile

·         Polymers

·         Biomedicine

·         Mechanical

·         Others

Competitive Landscape and Mineral Oil Market Share Analysis

The mineral oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to mineral oil market.

Some of the major players operating in the mineral oil market are:

·         ChemCeed (US)

·         RENKERT OIL (US)

·         SEOJIN CHEMICAL CO., LTD. (South Korea)

·         Sonneborn LLC (US)

·         Shell Plc (UK)

·         Suncor Energy Inc. (Canada)

·         Exxon Mobil Corporation (US)

·         SINOPEC (China)

·         Sasol (South Africa)

·         BP p.l.c. (UK)

·         Unicorn Petroleum. (India)

·         Star West (US)

·         BASF SE (Germany)

·         Dow (US)

·         Applied Thermal Control ltd (UK)

·         Clariant (Switzerland)

·         Eastman Chemical Company (US)

·         Flowserve Corporation (US)

·         Radco Industries (US)

·         Huntsman International L.L.C (US)

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Mineral Oil Market Regional Analysis/Insights

The mineral oil market is analysed and market size insights and trends are provided by country, products, class, grade and application as referenced above.

The countries covered in the mineral oil market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

During the forecast period, North America dominates the mineral oil market in terms of revenue and market share. This is due to the increasing demand for mineral oil in this region. The Asia-Pacific region leads the mineral oil market due to the increasing popularity of aromatherapy and high use of mineral oil in food industry amongst customers in this region

During the projected period, Asia Pacific is anticipated to be the fastest developing region due to increasing disposable income and the increasing awareness regarding many types of personal care products in this region.

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Our research and insights assist our clients in identifying business partners.

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