United States Mineral Oils Market is expected to reach US$ 7.1 billion by 2030 | Top key players - ExxonMobil, Royal Dutch Shell, Chevron Corporation.

Market Size and Forecast:

The Global Mineral Oils Market Size reached US$ 5.1 billion in 2022 and is expected to reach US$ 7.1 billion by 2030, growing with a CAGR of 4.2% during the forecast period 2024-2031.

The Mineral Oils Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Mineral Oils Market comprises refined petroleum-based oils derived from crude oil through distillation and purification processes. These oils are widely used as lubricants, coolants, insulators, and in personal care, pharmaceuticals, and industrial applications. Market growth is driven by rising demand in automotive, cosmetics, and manufacturing sectors, supported by advancements in refining technologies.

Industry Recent Developments:

United States:

✅ The U.S. mineral-based transformer oil market is growing due to grid modernization, industrial upgrades, and rising energy consumption. Key players focus on compliance with standards and advanced formulations for reliable insulation oil performance. (Sep 2025)

✅ Domestic producers and major companies such as Exxon Mobil, Chevron, and Castrol emphasize high-performance, specialty mineral oils that extend transformer life and reduce maintenance. (Sep 2025)

✅ The U.S. mineral oil market is projected to grow at a CAGR of 4.4% from 2025 to 2030, with white oil as the leading grade segment by revenue. (Oct 2025)

Japan:

✅ Japan's mineral oil-based insulating oil market is evolving with modernization in power infrastructure and regulatory focus on environmental safety. Power transformers dominate demand, driven by grid expansion and asset replacement. (Sep 2025)

✅ Emerging trends include use of low-viscosity, high-dielectric strength oils, and increasing adoption of biodegradable or low-toxicity mineral oils due to stringent environmental standards. (Sep 2025)

✅ Japan's mineral oil market is expected to grow at a CAGR of approximately 4.8% over the next five years, supported by investments in smart grid initiatives and urban electrification projects. (Sep 2025)

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Major Key Players:

ExxonMobil
Royal Dutch Shell
Chevron Corporation
TotalEnergies
BP
Sinopec Group
Nynas AB
Repsol
Hindustan Petroleum Corporation Limited (HPCL)
Indian Oil Corporation Limited (IOCL).

Key Growth Drivers:

Increasing demand in the personal care and cosmetics industry due to mineral oil's moisturizing properties, cost-effectiveness, and versatility in formulations like lotions, creams, and serums.

Rising adoption in the pharmaceutical sector where mineral oil is used as a lubricant, binder, emollient, and coating agent in drugs and topical treatments, benefiting from its inert nature and compatibility with various active ingredients.

Expanding use in industrial applications including automotive, machinery lubrication, agriculture, and petrochemical sectors driven by growing industrialization and urbanization worldwide.

Segments Covered in the Mineral Oils Market:

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.

Regional Analysis:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Mineral Oils market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Mineral Oils Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The Global Mineral Oils market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Mineral Oils Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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