Jay Mangade's blog : Global Mineral Oil Market : Industry Analysis and forecast 2020 – 2027
Global Mineral Oil Market size was valued US$ xxMn. in 2019 and the total revenue is expected to grow about CAGR3.2% from 2020 to 2027, reaching nearly US$ xx Mn.
Global Mineral Oil Market
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Global Mineral Oil Market: Overview
Mineral oil is obtained from crude oil, its refined petroleum product having the odorless and colorless physical characteristic. Mineral oil is usually referred to as white oil in some regions. The oil is utilizing in the production of petroleum-based products such as Cosmetics & Personal Care, Food & Beverages, Electrical & Industrial, and BioMedicine. The mineral oil is also used in various mechanical and industrial processes. Mineral oils are used mainly as lubricant base oils to produce further refined oil products, including engine oils, automotive and transmission fluids, industrial gear oils, hydraulic fluids.
The report covers the analysis of the current Mineral oil market size and share in terms of revenues. The report also presents a 7-year outlook based on compound annual growth rates (CAGR) for each type of mineral oil covered in scope and the industry as a whole. Further, a detailed analysis of the products is provided in the report.
The report covers the changing market condition and adoption by how Mineral oil manufacturers through key industry insights. The companies covered in the report are ranked and identified according to their market share and performance. Moreover, company benchmarking (company to company comparison) and Product benchmarking (product-to-product comparison) are including in the study to present key competitive factors that are important for companies to outperform in challenging market conditions.
The demand for food products are growing due to the changing lifestyle, and the increase in disposable income in the majority of the population is fueling the mineral oil market. WHO and FDA approved the use of food-grade mineral oil in the processing of food is expected to boost the market in the future. Volatility in prices of crude oil and toxicity of unrefined mineral oil has the major restraints for the mineral oil market.
By Application, Mechanical and Cosmetic & Personal care segment has a significant mineral oil market share and expected to show continuous growth in the forecasted period. The favorable government regulations in developing regions like the Asia Pacific and the Middle East also propelling the market. Mineral oils such as propylene, ethylene, and benzene are using in the production of plastics, rubber, packaging, and electronics. The growth of these industries directly affecting the demand for Mineral oils. The pharmaceutical segment has a major demand for mineral oil and used it in the preparation of tablets, capsules, laxatives, and ointments. The Pharmaceutical segment is expected to grow at a CAGR of xx% over the forecast period.
Global Mineral Oil Market: Regional Overview
By region, North America held the dominant market share of xx% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of xx%. The high demand for cosmetic products and processed food are driving the market growth in North America. Besides, factors such as increasing production of crude oil and government favorable policies are fueling the market growth during the forecast period. The U.S. is the leading consumer of mineral oil in the country.
Asia Pacific mineral oil market is showing a healthy growth rate xx% in the forecasted period. The rising demand for self-care products like baby oil and lotions are creating new growth opportunities in the region. Development in the infrastructure sector and rapid urbanization in developing countries such as China, India, and South Korea are driving the mineral oil market growth in the region.
The report covers an in-depth analysis of key development, marketing strategies, supply-side and demand-side indicators, and company profiles of market leaders, potential players, and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, collaborations, expansion, new product launches, and patents to increase their regional presence and business operations.
The objective of the report is to present a comprehensive analysis of the Global Mineral Oil Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Mineral Oil Market dynamics, structure by analyzing the market segments and project Global Mineral Oil Market Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Mineral Oil Market the report investor’s guide.
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Scope of the Global Mineral Oil Market: Inquire before buying
Global Mineral Oil Market, By Application
• Cosmetics & Personal Care
• Food & Beverages
• Electrical & Industrial
• Bio Medicine
• Mechanical
• Other Applications
Global Mineral Oil Market, By Product
• Paraffinic Oil
• Naphthenic Oil
• Aromatic Oil
Global Mineral Oil Market, by Region
• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Key players operating in Global Mineral Oil Market
• ExxonMobil
• Savita
• Unicorn Petroleum
• Suncor Energy
• Calumet Specialty Products Partners
• Shell
• Chevron
• FUCHS
• Lubline
• SK
• Zhonghai Nanlian
• Asian Oil Company
• Chevron Corporation
• China Petroleum & Chemical Corporation
• Eastern Petroleum Pvt Ltd
• Panama Petrochem Ltd.
• Renkert Oil, Inc.
• Royal Dutch Shell plc,
• Sasol Limited
• Sonneborn LLC
• Total S.A.
• British Petroleum
• ChemCeed
• Seojin Chemical
• Petro-Canada
• SINOPEC
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