Mineral Oil Market Size, Share, and Outlook, 2025 Report- By Grade (Technical Oil, White Oil ), By Application (Baby Oil, Cosmetics, Skin Care Products, Hair Care Products, Consumer Goods, Others), 2018-2032
Description
Mineral Oil Market Outlook
Mineral Oil Market Size is forecast to reach $6.4 Billion in 2032 from $4.6 Billion in 2025, at an optimistic growth rate of 4.7% from 2025 to 2032. The robust Mineral Oil Market growth presents potential growth opportunities for companies across the industry value chain.
The comprehensive market research report presents 12-year historic and forecast data on Mineral Oil Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Grade (Technical Oil, White Oil ), By Application (Baby Oil, Cosmetics, Skin Care Products, Hair Care Products, Consumer Goods, Others). Over 70 tables and charts showcase findings from our latest survey report on Mineral Oil Markets.
Mineral Oil Market Insights, 2025: Mineral Oil – Key Drivers and Opportunities
Mineral oil, a byproduct of crude oil refining, is widely used in industrial applications such as lubrication, electrical insulation, and as a raw material in the manufacturing of various chemicals and products. The growing demand for mineral oil is primarily driven by its essential role in the automotive and manufacturing sectors, where it is used as a lubricant and cooling agent. The automotive industry’s continued reliance on mineral oil for engine oils, hydraulic fluids, and transmission fluids is a significant factor contributing to the growth of the market. Furthermore, the rise in industrial activities, particularly in emerging economies, and the increasing adoption of mineral oil in sectors such as electronics and pharmaceuticals, are also driving demand.
Opportunities in the mineral oil market are centered around the growing need for high-quality lubricants and the shift towards more sustainable and environmentally friendly alternatives. As industries increasingly demand oils that meet higher performance standards, manufacturers are focusing on developing advanced formulations that offer superior lubrication, longer-lasting protection, and lower environmental impact. The continued demand for mineral oil-based lubricants, particularly in industrial machinery and transportation systems, offers strong growth potential. Additionally, as the use of mineral oil in the production of chemicals and specialty products expands, opportunities for product innovation in high-performance oils and environmentally safe formulations are expected to grow, driven by regulatory requirements and consumer preference for sustainable products.
Five Trends that will define global Mineral Oil Market in 2025 and Beyond
A closer look at the multi-million global market for Mineral Oil Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Mineral Oil Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.
What are the biggest opportunities for growth in the Mineral Oil Industry?
The Mineral Oil Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.
Mineral Oil Market Segment Insights
The Mineral Oil Industry presents strong offers across categories. The analytical report offers forecasts of Mineral Oil Industry performance across segments and countries. Key segments in the industry include- By Grade (Technical Oil, White Oil ), By Application (Baby Oil, Cosmetics, Skin Care Products, Hair Care Products, Consumer Goods, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.
Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Mineral Oil Market size outlook is provided for 22 countries across these regions.
Mineral Oil Industry Value Chain
The chapter identifies potential companies and their operations across the global Mineral Oil Industry ecosystem. It assists decision-makers in evaluating global Mineral Oil Market fundamentals, market dynamics, and disruptive trends across the value chain segments.
Scenario Analysis and Forecasts
Strategic decision-making in the Mineral Oil Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.
Asia Pacific Mineral Oil Market Analysis- A Promising Growth Arena for Business Expansion
As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.
The State of Europe Mineral Oil Industry 2025- Focus on Accelerating Competitiveness
As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Mineral Oil Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Mineral Oil Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.
The US Mineral Oil Market Insights- Executives are most excited about opportunities for the US Mineral Oil Industry.
Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Mineral Oil Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Mineral Oil Market.
Latin American Mineral Oil Market outlook rebounds in line with economic growth.
Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.
Middle East and Africa Mineral Oil Markets- New Opportunities for Companies Harnessing Diversity
Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Mineral Oil Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Mineral Oil Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.
Competitive Landscape- How Mineral Oil Companies outcompete in 2025 and Beyond?
The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Applied Thermal Control, BASF SE, Clariant AG, Dow Chemical Company, Flowserve Corp, Huntsman Corp, Petro Canada, Radco Industries, Renkert Oil Inc, Solutia Inc.
Mineral Oil Market Scope and Segmentation
By Grade
Technical Oil
White Oil
By Application
Baby Oil
Cosmetics
Skin Care Products
Hair Care Products
Consumer Goods
Others
Countries Included-
North America- US, Canada, Mexico
Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe
Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC
South and Central America- Brazil, Argentina, Chile, Rest of SCA
Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa
Companies Included in the Mineral Oil Market Research-
Applied Thermal Control
BASF SE
Clariant AG
Dow Chemical Company
Flowserve Corp
Huntsman Corp
Petro Canada
Radco Industries
Renkert Oil Inc
Solutia Inc
Reasons to Buy the report
Mineral Oil Market Size is forecast to reach $6.4 Billion in 2032 from $4.6 Billion in 2025, at an optimistic growth rate of 4.7% from 2025 to 2032. The robust Mineral Oil Market growth presents potential growth opportunities for companies across the industry value chain.
The comprehensive market research report presents 12-year historic and forecast data on Mineral Oil Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Grade (Technical Oil, White Oil ), By Application (Baby Oil, Cosmetics, Skin Care Products, Hair Care Products, Consumer Goods, Others). Over 70 tables and charts showcase findings from our latest survey report on Mineral Oil Markets.
Mineral Oil Market Insights, 2025: Mineral Oil – Key Drivers and Opportunities
Mineral oil, a byproduct of crude oil refining, is widely used in industrial applications such as lubrication, electrical insulation, and as a raw material in the manufacturing of various chemicals and products. The growing demand for mineral oil is primarily driven by its essential role in the automotive and manufacturing sectors, where it is used as a lubricant and cooling agent. The automotive industry’s continued reliance on mineral oil for engine oils, hydraulic fluids, and transmission fluids is a significant factor contributing to the growth of the market. Furthermore, the rise in industrial activities, particularly in emerging economies, and the increasing adoption of mineral oil in sectors such as electronics and pharmaceuticals, are also driving demand.
Opportunities in the mineral oil market are centered around the growing need for high-quality lubricants and the shift towards more sustainable and environmentally friendly alternatives. As industries increasingly demand oils that meet higher performance standards, manufacturers are focusing on developing advanced formulations that offer superior lubrication, longer-lasting protection, and lower environmental impact. The continued demand for mineral oil-based lubricants, particularly in industrial machinery and transportation systems, offers strong growth potential. Additionally, as the use of mineral oil in the production of chemicals and specialty products expands, opportunities for product innovation in high-performance oils and environmentally safe formulations are expected to grow, driven by regulatory requirements and consumer preference for sustainable products.
Five Trends that will define global Mineral Oil Market in 2025 and Beyond
A closer look at the multi-million global market for Mineral Oil Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Mineral Oil Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.
What are the biggest opportunities for growth in the Mineral Oil Industry?
The Mineral Oil Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.
Mineral Oil Market Segment Insights
The Mineral Oil Industry presents strong offers across categories. The analytical report offers forecasts of Mineral Oil Industry performance across segments and countries. Key segments in the industry include- By Grade (Technical Oil, White Oil ), By Application (Baby Oil, Cosmetics, Skin Care Products, Hair Care Products, Consumer Goods, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.
Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Mineral Oil Market size outlook is provided for 22 countries across these regions.
Mineral Oil Industry Value Chain
The chapter identifies potential companies and their operations across the global Mineral Oil Industry ecosystem. It assists decision-makers in evaluating global Mineral Oil Market fundamentals, market dynamics, and disruptive trends across the value chain segments.
Scenario Analysis and Forecasts
Strategic decision-making in the Mineral Oil Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.
Asia Pacific Mineral Oil Market Analysis- A Promising Growth Arena for Business Expansion
As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.
The State of Europe Mineral Oil Industry 2025- Focus on Accelerating Competitiveness
As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Mineral Oil Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Mineral Oil Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.
The US Mineral Oil Market Insights- Executives are most excited about opportunities for the US Mineral Oil Industry.
Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Mineral Oil Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Mineral Oil Market.
Latin American Mineral Oil Market outlook rebounds in line with economic growth.
Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.
Middle East and Africa Mineral Oil Markets- New Opportunities for Companies Harnessing Diversity
Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Mineral Oil Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Mineral Oil Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.
Competitive Landscape- How Mineral Oil Companies outcompete in 2025 and Beyond?
The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Applied Thermal Control, BASF SE, Clariant AG, Dow Chemical Company, Flowserve Corp, Huntsman Corp, Petro Canada, Radco Industries, Renkert Oil Inc, Solutia Inc.
Mineral Oil Market Scope and Segmentation
By Grade
Technical Oil
White Oil
By Application
Baby Oil
Cosmetics
Skin Care Products
Hair Care Products
Consumer Goods
Others
Countries Included-
North America- US, Canada, Mexico
Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe
Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC
South and Central America- Brazil, Argentina, Chile, Rest of SCA
Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa
Companies Included in the Mineral Oil Market Research-
Applied Thermal Control
BASF SE
Clariant AG
Dow Chemical Company
Flowserve Corp
Huntsman Corp
Petro Canada
Radco Industries
Renkert Oil Inc
Solutia Inc
Reasons to Buy the report
- Make informed decisions through long and short-term forecasts across 22 countries and segments.
- Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
- Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
- Get an integrated understanding of the entire market ecosystem and companies.
- Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
- Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
- Get free Excel spreadsheet and PPT versions along with the report PDF.
Table of Contents
196 Pages
- 1. Table of Contents
- List of Figures and Tables
- 2. Executive Summary
- 2.1 Key Highlights
- 2.1.1 Mineral Oil Market Size Outlook, 2018-2024 and 2025-2032
- 2.1.2 Largest Mineral Oil Market Types and Applications
- 2.1.3 Fastest Growing Segments
- 2.1.4 Potential Markets
- 2.1.5 Market Concentration
- 2.2 Market Scope and Segmentation
- 2.2.1 Market Scope- Segments
- 2.2.2 Market Scope- Countries
- 2.2.3 Macroeconomic and Demographic Outlook
- 2.2.4 Abbreviations
- 2.2.5 Units and Currency Conversions
- 3. Research Methodology
- 3.1 Primary Research Surveys
- 3.2 Secondary Data Sources
- 3.3 Data Triangulation
- 3.4 Forecast Methodology
- 3.5 Assumptions and Limitations
- 4. Introduction to Global Mineral Oil Market in 2025
- 4.1 Industry Panorama
- 4.2 Leading Companies Profiled in the Study
- 4.3 Asia Pacific Markets offer Robust Market Prospects for New Entrants
- 4.4 Market Dynamics
- 4.4.1 Market Dynamics- Trends and Drivers
- 4.4.2 Market Dynamics- Opportunities and Challenges
- 4.5 Regional Analysis
- 4.6 Porter’s Five Force Analysis
- 4.6.1 Intensity of Competitive Rivalry
- 4.6.2 Threat of New Entrants
- 4.6.3 Threat of Substitutes
- 4.6.4 Bargaining Power of Buyers
- 4.6.5 Bargaining Power of Suppliers
- 4.7 Mineral Oil Industry Value Chain Analysis
- 4.7.1 Stage of Value Chain
- 4.7.2 Key Activities of Companies
- 4.7.3 Companies Included in Each Stage
- 4.7.4 Key Insights
- 5. Mineral Oil Market Outlook to 2032
- 5.1 Market Size Forecast by Type, 2021-2024 and 2025-2032
- 5.2 Market Size Forecast by Application, 2021-2024 and 2024-2032
- 5.3 Market Size Forecast by Geography, 2021-2024 and 2024-2032 By Grade
- Technical Oil
- White Oil By Application
- Baby Oil
- Cosmetics
- Skin Care Products
- Hair Care Products
- Consumer Goods
- Others
- 6. Global Mineral Oil Market Outlook across Growth Scenarios
- 6.1 Low Growth Scenario
- 6.2 Base/Reference Case
- 6.3 High Growth Scenario
- 6. North America Mineral Oil Market Size Outlook
- 6.1 Key Market Statistics, 2024
- 6.2 North America Mineral Oil Market Trends and Growth Opportunities
- 6.2.1 North America Mineral Oil Market Outlook by Type
- 6.2.2 North America Mineral Oil Market Outlook by Application
- 6.3 North America Mineral Oil Market Outlook by Country
- 6.3.1 The US Mineral Oil Market Outlook, 2021- 2032
- 6.3.2 Canada Mineral Oil Market Outlook, 2021- 2032
- 6.3.3 Mexico Mineral Oil Market Outlook, 2021- 2032
- 7. Europe Mineral Oil Market Size Outlook
- 7.1 Key Market Statistics, 2024
- 7.2 Europe Mineral Oil Market Trends and Growth Opportunities
- 7.2.1 Europe Mineral Oil Market Outlook by Type
- 7.2.2 Europe Mineral Oil Market Outlook by Application
- 7.3 Europe Mineral Oil Market Outlook by Country
- 7.3.2 Germany Mineral Oil Market Outlook, 2021- 2032
- 7.3.3 France Mineral Oil Market Outlook, 2021- 2032
- 7.3.4 The UK Mineral Oil Market Outlook, 2021- 2032
- 7.3.5 Spain Mineral Oil Market Outlook, 2021- 2032
- 7.3.6 Italy Mineral Oil Market Outlook, 2021- 2032
- 7.3.7 Russia Mineral Oil Market Outlook, 2021- 2032
- 7.3.8 Rest of Europe Mineral Oil Market Outlook, 2021- 2032
- 8. Asia Pacific Mineral Oil Market Size Outlook
- 8.1 Key Market Statistics, 2024
- 8.2 Asia Pacific Mineral Oil Market Trends and Growth Opportunities
- 8.2.1 Asia Pacific Mineral Oil Market Outlook by Type
- 8.2.2 Asia Pacific Mineral Oil Market Outlook by Application
- 8.3 Asia Pacific Mineral Oil Market Outlook by Country
- 8.3.1 China Mineral Oil Market Outlook, 2021- 2032
- 8.3.2 India Mineral Oil Market Outlook, 2021- 2032
- 8.3.3 Japan Mineral Oil Market Outlook, 2021- 2032
- 8.3.4 South Korea Mineral Oil Market Outlook, 2021- 2032
- 8.3.5 Australia Mineral Oil Market Outlook, 2021- 2032
- 8.3.6 South East Asia Mineral Oil Market Outlook, 2021- 2032
- 8.3.7 Rest of Asia Pacific Mineral Oil Market Outlook, 2021- 2032
- 9. South America Mineral Oil Market Size Outlook
- 9.1 Key Market Statistics, 2024
- 9.2 South America Mineral Oil Market Trends and Growth Opportunities
- 9.2.1 South America Mineral Oil Market Outlook by Type
- 9.2.2 South America Mineral Oil Market Outlook by Application
- 9.3 South America Mineral Oil Market Outlook by Country
- 9.3.1 Brazil Mineral Oil Market Outlook, 2021- 2032
- 9.3.2 Argentina Mineral Oil Market Outlook, 2021- 2032
- 9.3.3 Rest of South and Central America Mineral Oil Market Outlook, 2021- 2032
- 10. Middle East and Africa Mineral Oil Market Size Outlook
- 10.1 Key Market Statistics, 2024
- 10.2 Middle East and Africa Mineral Oil Market Trends and Growth Opportunities
- 10.2.1 Middle East and Africa Mineral Oil Market Outlook by Type
- 10.2.2 Middle East and Africa Mineral Oil Market Outlook by Application
- 10.3 Middle East and Africa Mineral Oil Market Outlook by Country
- 10.3.1 Saudi Arabia Mineral Oil Market Outlook, 2021- 2032
- 10.3.2 The UAE Mineral Oil Market Outlook, 2021- 2032
- 10.3.3 Rest of Middle East Mineral Oil Market Outlook, 2021- 2032
- 10.3.4 South Africa Mineral Oil Market Outlook, 2021- 2032
- 10.3.5 Egypt Mineral Oil Market Outlook, 2021- 2032
- 10.3.6 Rest of Africa Mineral Oil Market Outlook, 2021- 2032
- 11. Company Profiles
- 11.1 Leading 10 Companies
- Applied Thermal Control
- BASF SE
- Clariant AG
- Dow Chemical Company
- Flowserve Corp
- Huntsman Corp
- Petro Canada
- Radco Industries
- Renkert Oil Inc
- Solutia Inc
- 11.2 Overview
- 11.3 Products and Services
- 11.4 SWOT Profile
- 12. Appendix
- 12.1 Subscription Options
- 12.2 Customization Options
- 12.3 Publisher Details
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