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2022
Food Grade Mineral Oil Market

Food Grade Mineral Oil Market by Base oil (Mineral oil, Synthetic oil), Grade (Food and Beverages, Feed, Dietary Supplements, Pharmaceuticals, Cosmetics and Personal Care, and Others), and Application (Release Agent, Processing Equipment Lubrication, and Other): Global Opportunity Analysis and Industry Forecast, 2021–2028

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Jul 2022 | 167 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Food grade mineral oil, also known as "white oil" or "liquid paraffin," is a refined product derived from non-vegetable mineral sources such as petroleum or a blend of middle spectrum alkanes. These oils go through a complicated process over time that results in molecules joining together to form bigger chemical chains. When compared to other derivatives derived by distilling petroleum, food grade mineral oils have a lower value in the industrial world.

These oils are colorless, odorless, tasteless, and hydrophobic, and their color does not change over time. When paraffinic or naphthenic base oils were treated with sulfuric acid, food-grade mineral oils were created as by-products of sulfonate synthesis. All unsaturated and aromatic chemicals, nitrogen and sulphur impurities, hazardous chemicals, and color-forming substances are removed during this process.

Natural oxidation inhibitors are also removed.

COVID-19 Impact analysis

  • The COVID-19 epidemic has had a detrimental influence on the food grade mineral oil business. Many countries have enacted a range of restrictive measures to limit the spread of the COVID-19 pandemic, which have had a detrimental impact on demand and, as a result, on industrial productivity in many fields.
  • Due to a huge change in the supply chain, the industry is struggling. To meet demand in the past, food processing industries had excess capacity in warehouses or on production lines.
  • Manufacturing enterprises may find it challenging to maintain inventory in 2020 due to supply disruptions. This has had an impact on food and beverage operations across the country. However, it is projected that the situation would improve in 2021, resuming the market's growth trajectory.

Top Impacting Factors

  • The food grade mineral oil market is predicted to benefit from the growing demand for food product modifications as a result of rising disposable income and changing lifestyles among the majority of the world's population.
  • The food grade mineral oil market in developing nations is projected to be driven by WHO (World Health Organization) and FDA (Food and Drug Administration) permission for food grade mineral oil to be used in food preparation.
  • The growing demand for baby oils and lotions in developing economies such as China, India, Canada, and Denmark, as a result of increased personal care awareness, is likely to boost the food grade mineral oil market in these provinces.

Market Trends

End-user industries' increasing demand for the product will help the food-grade mineral oil industry

The global market for food grade mineral oil is being pushed by increased demand from end user industries in expanding Latin American and Asian economies such as Malaysia, Singapore, India, Brazil, and China. These countries have set up a number of opportunities for the food-grade mineral oil business to grow. Over the projection period, the maturing use of high-end mineral oil in the manufacture of biomedicine is likely to drive the market.

The expansion of medical services in nations such as Singapore, India, and Hong Kong is projected to accelerate this trend.

North America is currently the most important market for food-grade mineral oil. This can be attributable to the food industry's increasing demand for food-grade mineral oil. The market is also seeing an upward trend as a result of the WHO and FDA's approval of the product for use in the food industry, which has increased demand for the product and expanded the market.

Market growth aided by diversified approach and high demand for food grade mineral oil

The diverse approach and strong demand for food grade mineral oil in the worldwide market drives the market. During the forecast term, this is projected to gain traction. The market is also buoyed by increased demand for food product revisions as a result of increased disposable income and a changing lifestyle among a vast worldwide population.

Furthermore, approval by the World Health Organization (WHO) and the Food and Drug Administration (FDA) for the use of food grade mineral oil in food preparation is expected to drive market growth in developing countries.

Concurrently, the growing demand for baby oils and lotions in developing economies such as China, India, Canada, and Denmark, as a result of increased personal care knowledge, is predicted to boost the food grade mineral oil market in these provinces. The toxicity of unprocessed food grade mineral oil and the unpredictability of crude oil prices have remained the principal restrictions for the food grade mineral oil industry.

Key Benefits of the Report

  • This study presents the analytical depiction of the Food Grade Mineral Oil Market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Food Grade Mineral Oil Market share.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the Food Grade Mineral Oil Market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed Food Grade Mineral Oil Market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the Report

  • Who are the leading market players active in the Food Grade Mineral Oil Market?
  • What current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
  • What is Food Grade Mineral Oil Market prediction in the future?
  • Which will be the niches at which players profiling with recent advancements should set a presence?
  • What are the driving factors and opportunities in the market?
  • What are the current trends and predicted trends?
  • What are the challenges faced in the Food Grade Mineral Oil Market?

Key Market Segments

Segments Sub-segments
By Base oil
  • Mineral oil
  • Synthetic oil
By Grade
  • Food and Beverages
  • Feed
  • Dietary Supplements
  • Pharmaceuticals
  • Cosmetics and Personal Care
  • Others
By Application
  • Release Agent
  • Processing Equipment Lubrication
  • Other
By Region
  • North America
    • U.S
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa


Key Market Players

  • Radco Industries
  • Flowserve Corporation
  • Petro Canada
  • Solutia Inc.
  • Eastman Chemical
  • Dow Chemical
  • Applied Thermal Control
  • Radco Industries,
  • Basf
  • Huntsman Corporation
  • Huntsman
  • Flowserve
  • Clariant
 
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