Chemical

According to a market report by Lucintel, the future of the mineral-based lubricating oil market looks promising with opportunities in the cosmetic and personal care, food and beverage, electrical and industrial, agriculture, textile, polymer, biomedicine, and mechanical markets. The global mineral-based lubricating oil market is expected to reach an estimated $4.5 billion by 2028 with a CAGR of 4% from 2023 to 2028. The major drivers for this market are  increasing usage in the pharmaceutical and personal care industries along with favorable government policies in the emerging economies.



In this market, technical oil and white oil are the two major segments of mineral-based lubricating oil market by grade. Lucintel forecasts that white oil will remain the larger segment over the forecast period due to its increasing application in food, feed stock, pharmaceutical, and cosmetics industries.



Within this market, cosmetic and personal care is expected to remain the largest segment due to increasing usage in manufacturing of lip balm, creams, baby oils, and hair care products.



APAC will remain the largest region due to its growing population, increasing demand from food processing industry, and growing self-awareness regarding personal care products in the region.

ChemCeed, RENKERT OIL, SEOJIN CHEMICAL, Sonneborn, Shell Plc, Suncor Energy, Exxon Mobil Corporation, SINOPEC, Sasol, and BP p.l.c are the major suppliers in the global mineral-based lubricating oil market.  



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global mineral-based lubricating oil market by class, grade, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Mineral-Based Lubricating Oil Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The 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 a forecast for the global mineral-based lubricating oil market by class, grade, application, and region, as follows:

 

This 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 email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the mineral-based lubricating oil market by class (paraffinic oils, naphthenic oils, and aromatic oils), grade (technical oil and white oil), application (cosmetic and personal care, food and beverage, electrical and industrial, agriculture, textile, polymers, biomedicine, mechanical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?