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Food Grade Paraffin Oil Market Key Drivers ,Key Restraints ,Competitive Landscape and Segmentation-Forecast Till 2030

06-11-2021 10:40 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR Research

Food Grade Paraffin Oil Market Key Drivers ,Key Restraints

Food Grade Paraffin Oil: Market Outlook

Paraffin oil is also known as mineral oil, produced during the distillation process of petroleum. Paraffin oil is colorless, odorless, and taste-less oil. Paraffin oil has a wide range of applications in industries like food, medical, and cosmetics. Food-grade paraffin oil is used in the food and beverage industry due to its lubricant, laxative, and moisturizing properties.

Developing regions such as Latin America and the Asia Pacific are identifying various opportunities for the food-grade paraffin oil market owing to the reason that countries like Singapore, Malaysia, Brazil, India, and China are maturing as a market with increase end-use of paraffin oil for medicinal and food products.

North America is the dominating market for food-grade paraffin oil as the number of applications of food-grade paraffin oil has increased in the region for the food industry. As WHO and FDA have approved the application of paraffin oil in the food industry, the market is expected to grow further in the forecast period.

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Key Market Dynamics

Due to its hydrating and binding properties, paraffin oils are finding its application in various food and medicinal products such as tablets and capsules. And with approval from health organization and food authority application as well as its demand is expected to rise in the global market.

Increasing disposable income in developing economies like India the consumer base will be more encouraged to buy processed food products, personal care and cosmetic products such as body lotion, lip balm and more will help food-grade paraffin oil to grow in the emerging countries.

Food-grade paraffin oil is affected by the volatility of the price of crude oil in the market and also sometimes gets affected due to the toxicity of unprocessed grade of paraffin oil. These two factors are the prime restraining factors of the food-grade paraffin oil market.

Food Grade Paraffin Oil: Market Segmentation

Based on Application, Food Grade Paraffin Oil Market can be segmented as:

Medical Nutrition
Sports Nutrition
Dietary Supplements
Fortified Dairy & Beverages
Bakery Products
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Based on Function, Food Grade Paraffin Oil Market can be segmented as:

De-foaming Agent
Lubricant
Based on Nature, Food Grade Paraffin Oil Market can be segmented as:

Light Paraffin Oil
Heavy Paraffin Oil
Food Grade Paraffin Oil: Key Players

Some of the key players in the global food-grade paraffin oil market are BASF Corporation, The Dow Chemical Company, Solutia Inc – Eastman Chemical Company, Huntsman Corporation, Radco Industries, Applied Thermo Control, Flowserve Corporation, Clariant Speciality Chemicals, Flowserve Corporation, Eastern Petroleum Private Limited RAHA Paraffin Group, and Petro Canada.

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About TMR Research:

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Contact:

TMR Research,
3739 Balboa St # 1097,
San Francisco, CA 94121
United States

Tel: +1-415-520-1050

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