Press release
Mineral Oils Market to Reach US$7.1 Bn by 2030, CAGR 4.2% (2024-2031) Driven by Industrial Lubricant Demand | Market Players: ExxonMobil, Royal Dutch Shell, Chevron Corporation, Total Energies, BP, Sinopec Group
Mineral Oils Market
The global Mineral Oils market has witnessed significant growth over the past few years, driven by increasing demand across multiple industries and advancements in technology. The market is characterized by rising adoption of innovative solutions, growing consumer awareness, and supportive government regulations in major economies. As industries continue to prioritize efficiency, sustainability, and cost optimization, Mineral Oils is becoming a critical enabler of business transformation.
Download exclusive insights with our detailed sample report (Corporate Email ID gets priority access): https://www.datamintelligence.com/download-sample/mineral-oils-market?ophp
The mineral oil market is sustained by demand in cosmetics, pharmaceuticals, lubricants, and industrial applications. However, regulatory scrutiny and the shift toward bio-based alternatives are influencing growth.
Key Highlights from the Report
➤ The Mineral Oils market is projected to grow at a CAGR of 4.2% between 2024-2031.
➤ The industrial oils segment dominates consumption, while the cosmetic and personal care oils segment grows fastest with natural and refined formulations.
➤ Asia Pacific dominates and grows fastest in the mineral oils market, driven by automotive and industrial applications.
➤ Strategic collaborations and M&A activities are shaping the competitive landscape.
➤ Sustainability and digital transformation are creating new opportunities in the market.
Market Segmentation
By Class (Paraffinic Oil, Aromatic Oil, Naphthenic Oil) By Grade (Industrial Grade, Pharmaceutical Grade, Cosmetic Grade, Food Grade) By Application (Lubricants, Pharmaceuticals, Cosmetics and Personal Care, Electrical, Automotive, Agriculture, Others)
Company Insights
Key players operating in the Mineral Oils market include:
ExxonMobil, Royal Dutch Shell, Chevron Corporation, Total Energies, BP, Sinopec Group, Nynas AB, Repsol, Hindustan Petroleum Corporation Limited (HPCL) and Indian Oil Corporation Limited (IOCL).
United States: Recent Industry Developments
✅ In July 2025, ExxonMobil introduced a new range of high-purity mineral oils for pharmaceutical and cosmetic applications. The products meet USP and FDA standards. They target rising demand for safe and sustainable formulations.
✅ In June 2025, Chevron invested $200 million to modernize its mineral oil refining operations in Mississippi. The upgrade focuses on improving efficiency and lowering sulfur content. Commercial output from the facility is scheduled for early 2026.
✅ In May 2025, Calumet Specialty Products expanded its white mineral oil capacity in Indiana. The move supports supply to the food processing, personal care, and agriculture industries. It enhances the U.S. role in the global specialty oils market.
Japan: Recent Industry Developments
✅ In July 2025, JX Nippon Oil & Energy launched an ultra-refined mineral oil line for electronics cooling. The products are designed for high-performance data centers. Early trials showed improved thermal stability and lower oxidation rates.
✅ In June 2025, Idemitsu Kosan invested in upgrading its Chiba refinery to expand food-grade mineral oil production. The initiative aligns with rising demand from Japan's food packaging sector. It also strengthens export capacity across Asia.
✅ In May 2025, Showa Shell Sekiyu partnered with a local chemical manufacturer to develop biodegradable mineral oil alternatives. The R&D project targets environmentally friendly lubricants. Pilot testing is scheduled for late 2025.
Recent Developments
✅ In October 2023, a panel of international experts informed the inaugural session of IMARC 2023 that Australia has a significant chance to contribute to the growing demand for key minerals by enhancing global supply chains and increasing strategic national collaboration.
✅ On May 23, 2023, Exxon acquired lithium rights as oil companies expanded into vital mineral extraction. The US$ 100 million transaction is the latest in a series of investments by oil majors in crucial resource mining.
Looking for in-depth insights? Grab the full report: https://www.datamintelligence.com/buy-now-page?report=mineral-oils-market
Regional Insights
The global Mineral Oils market demonstrates strong performance across multiple regions:
• North America leads the market due to high adoption rates, strong R&D activities, and the presence of key market players.
• Europe benefits from stringent regulations, increasing focus on sustainability, and government-backed innovation programs.
• Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by rapid industrialization, growing consumer base, and rising investment in infrastructure.
• Latin America and Middle East & Africa are also showing promising growth, supported by economic reforms and foreign direct investments.
Market Dynamics
Driver: Strong demand across automotive, industrial, and manufacturing applications sustains market.
Restraint: Rising environmental concerns and bio-based alternatives impact growth.
Opportunity: Expanding use in specialty lubricants and additives offers niche opportunities.
Challenge: Volatile crude oil prices affect profitability and supply stability.
The Report Includes:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Go-to-market Strategy.
➡ Neutral perspective on the market performance.
➡ Customized regional/country reports as per request and country level analysis.
➡ Potential & niche segments and regions exhibiting promising growth covered.
Reasons to Buy the Report
✔ Comprehensive market insights with accurate growth projections through 2032.
✔ In-depth segmentation analysis to identify high-growth areas.
✔ Regional breakdown highlighting key opportunities across global markets.
✔ Competitive landscape profiling leading players and recent strategic moves.
✔ Actionable insights for investors, policymakers, and industry stakeholders.
Frequently Asked Questions (FAQs)
◆ How Big is the Global Mineral Oils Market?
◆ Who are the Key Players in the Mineral Oils Industry?
◆ What is the Projected Growth Rate (CAGR) of the Market from 2025 to 2032?
◆ What is the Forecast Value of the Market by 2032?
◆ Which Region is Expected to Dominate the Market During the Forecast Period?
Conclusion
The global Mineral Oils market is positioned for significant growth, driven by strong demand across industries, technological innovation, and supportive regulatory environments. While challenges such as high costs and regulatory hurdles exist, emerging opportunities in digital transformation, sustainability, and new applications are expected to create profitable pathways for market players. Companies that invest in innovation and strategic collaborations will remain at the forefront of this evolving landscape.
Unlock 360° Market Intelligence with DataM Subscription Services: https://www.datamintelligence.com/reports-subscription?harssh
Power your decisions with real-time competitor tracking, strategic forecasts, and global investment insights-all in one place.
✅ Competitive Landscape
✅ Sustainability Impact Analysis
✅ KOL / Stakeholder Insights
✅ Unmet Needs & Positioning, Pricing & Market Access Snapshots
✅ Market Volatility & Emerging Risks Analysis
✅ Quarterly Industry Report Updated
✅ Live Market & Pricing Trends
✅ Consumer Behavior & Demand Analysis
Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Mineral Oils Market to Reach US$7.1 Bn by 2030, CAGR 4.2% (2024-2031) Driven by Industrial Lubricant Demand | Market Players: ExxonMobil, Royal Dutch Shell, Chevron Corporation, Total Energies, BP, Sinopec Group here
News-ID: 4166313 • Views: …
More Releases from DataM intelligence 4 Market Research LLP
Green Polyols Market to Grow Rapidly at a CAGR of 9.50% by 2030, Driven by Susta …
The Green Polyols Market research study provides critical market data, such as growth-influencing factors, roadblocks, and opportunities and strategies for overcoming them. The study also includes industry data, such as market value, share, CAGR, size, and so on, to make market research easier for new entrants. The research also examines the economy, society, law, and the environment. The global Green Polyols Market research report utilizes both primary and secondary data…
Holter Analysis System Market to Reach US$ 2.84 Bn by 2031, Driven by Arrhythmia …
The Holter Analysis System & Software Market research study provides critical market data, such as growth-influencing factors, roadblocks, and opportunities and strategies for overcoming them. The study also includes industry data, such as market value, share, CAGR, size, and so on, to make market research easier for new entrants. The research also examines the economy, society, law, and the environment. The global Holter Analysis System & Software Market research report…
Tele ICU Market to Grow Strongly by at a CAGR 17.63% 2029, Fueled by Remote Pati …
The Tele Intensive Care Unit Market research study provides critical market data, such as growth-influencing factors, roadblocks, and opportunities and strategies for overcoming them. The study also includes industry data, such as market value, share, CAGR, size, and so on, to make market research easier for new entrants. The research also examines the economy, society, law, and the environment. The global Tele Intensive Care Unit Market research report utilizes both…
HIV-1 Treatment Market to Reach US$ 62.75 Bn by 2031, Driven by Rising Prevalenc …
The Human Immunodeficiency Virus Type-1 Treatment Market research study provides critical market data, such as growth-influencing factors, roadblocks, and opportunities and strategies for overcoming them. The study also includes industry data, such as market value, share, CAGR, size, and so on, to make market research easier for new entrants. The research also examines the economy, society, law, and the environment. The global Human Immunodeficiency Virus Type-1 Treatment Market research report…
More Releases for Oil
Hydraulic Oil Market,By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil …
In recent years, the production capacity for hydraulic oil has increased significantly across the globe. Moreover, the Group II and III base oils are primarily gaining popularity for utilization in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles. Therefore, these determinants are expected to for drive the development of the global hydraulic oil market in the anticipated period.
Global Hydraulic Oil Market was valued at USD 10.47 billion in 2021…
Cosmetic Oil Market Future Outlook 2023-2029, Industry Demand, Trends, Size, New …
This Cosmetic Oil Market research report is one of the best and wide-ranging, which provides market insights by considering numerous factors. Therefore, businesses can get important market insights cost-effectively with the help of the Cosmetic Oil Market research report. Such a persuasive report is the best to gain a competitive advantage in this quickly transforming marketplace. In addition, the report also provides market segmentation based on type and end-user. The…
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is…
Growing demand for corn oil as cooking oil is fuelling the Corn Oil Market
The research report "Corn Oil Market: by Product Type (High Oleic, Middle Oleic, Low Oleic), By Application (Biodiesel, Soap Making, Food Services, Pharmaceutical, Others) and Geography- Global/Region/Country Forecast to 2028." The global corn oil market size was valued at USD 4.2 Bn in the year 2021, growing at a CAGR rate of 7.2% during the evaluation time span 2022-2028.
Glance our 200 slides market research and competitive intelligence research report,…
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty…
Global Sustainable Palm Oil Market analysis report- with Leading players, Applic …
Sustainable Palm Oil Market
The most widely used vegetable oil there is, palm oil is found in everything from snacks to household cleaners to cosmetics. Palm oil is used in many of the products on supermarket shelves, from margarine and chocolate to ice cream, soaps, cosmetics, and fuel for cars and power plants. The report presents a comprehensive overview, market shares, and growth opportunities of Sustainable Palm Oil market by product type,…
