Global Mineral Oil Market 2023-2029

Mineral oil is a colorless, odorless oil derived from the distillation of petroleum. It is a very versatile compound that is widely used in a variety of industries, including cosmetics, pharmaceuticals, and food processing. Because of its low cost and non-reactivity, mineral oil is particularly popular in these industries. The global mineral oil market is projected to rise by USD 1.1 billion by 2029, according to the latest market study results. It is anticipated to expand at a CAGR of 3.94 percent during the forecast period.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global mineral oil market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the type, grade, end user, and region. The global market for mineral oil can be segmented by type: paraffinic oil, aromatic oil, naphthenic oil. The paraffinic oil segment held the largest share of the global mineral oil market in 2022 and is anticipated to hold its share during the forecast period. Mineral oil market is further segmented by grade: technical oil, white oil. Globally, the white oil segment made up the largest share of the mineral oil market. Based on end user, the mineral oil market is segmented into: personal care, food and beverages, industrial, pharmaceutical, others. The pharmaceutical segment was the largest contributor to the global mineral oil market in 2022. On the basis of region, the mineral oil market also can be divided into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific is estimated to account for the largest share of the global mineral oil market.

Market Segmentation
By type: paraffinic oil, aromatic oil, naphthenic oil
By grade: technical oil, white oil
By end user: personal care, food and beverages, industrial, pharmaceutical, others
By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The global mineral oil market report offers detailed information on several market vendors, including Shell plc, BP plc, Sinopec, Sonneborn, LLC, ExxonMobil Corporation, Petro-Canada, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.
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Scope of the Report
• To analyze and forecast the market size of the global mineral oil market.
• To classify and forecast the global mineral oil market based on type, grade, end user, region.
• To identify drivers and challenges for the global mineral oil market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global mineral oil market.
• To identify and analyze the profile of leading players operating in the global mineral oil market.

Why Choose This Report
• Gain a reliable outlook of the global mineral oil market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.