Food Grade Mineral Oil Market Overview
Often accredited as ‘white oil’ and ‘liquid paraffin’, food grade mineral oil is a refined product from a non-vegetable mineral sources such as petroleum or it is a mixture of middle spectrum alkanes. Over the time , these oils goes through a complex process that leads to molecules binding together to form larger molecular chains. Industrially, food grade mineral oils have an inferior value when compared to other derivative which are obtained by distilling petroleum. The food grade mineral oil market is classified into three collections namely, Paraffinic oils which are composed of n-alkanes, Naphthenic oils mainly composed of cyclo-alkanes and Aromatic oils composed of aromatic hydrocarbons. Food grade mineral oil is colourless and odourless and is often used as a lubricant, laxative and moisturizer. It also finds itself in numerous petroleum based products related to food, biomedicine, pharmaceuticals and cosmetics. The food grade mineral oil market with its diversified approach and demand in the global market is expected to gain development during the period of 2018 to 2028.
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Food Grade Mineral Oil Market Dynamics
The thriving demand for revision of food products owing to the increasing disposable income and changing lifestyle of the majority of the global population is expected to encourage the food grade mineral oil market. With approval from WHO(World Health Organization) and FDA(Food and Drug Administration) for food grade mineral oil to be used in food preparation is expected to drive the food grade mineral oil market in the developing countries. Conjointly, the increasing demand for baby oils and lotions in materializing economies such as China, India, Canada and Denmark, owing to the heightened awareness for personal care is expected to surge the food grade mineral oil market in these provinces. However, volatility of crude oil prices and toxicity of unprocessed food grade mineral oil have remain the primary restraints for the food grade mineral oil market.
Food Grade Mineral Oil Market Segmentation
The food grade mineral oil market can be segmented on the basis of application as:
- Food & Beverages
- Medical Nutrition
- Sports Nutrition
- Fortified Dairy & Beverages
- Bakery Products
- Dietary Supplements
- Biomedicine
- Textile
- Cosmetics
- Pharmaceutical OTC Drugs
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Food Grade Mineral Oil Market Regional Overview
Increasing end user industries in emerging economies in Latin America and Asia Pacific such as Singapore, Malaysia, Brazil, India and China have organized several opportunities for the food grade mineral oil market. With the maturing use of high end mineral oil for production in biomedicine is anticipating newer opportunities for the food grade mineral oil market during the period of 2018 to 2028. This will further be increased with the ascending medical services in states such as India, Singapore and Hong Kong.
At the present scenario, North America has appeared as the largest regional market of food grade mineral oil due to the always increasing demand of food grade mineral oil for the food industry. WHO’s and FDA approval for adopting to use food grade mineral oil in the food industry is expected to further increase the demand of food grade mineral oil.
Food Grade Mineral Oil Market Key Players
Some of the major players in the food grade mineral oil market are:
- BASF Corporation, Germany.
- The Dow Chemical Company, United States.
- Solutia Inc – Eastman Chemical Company.
- Huntsman Corporation, United States.
- Radco Industries, United States.
- Applied Thermo Control, UK.
- Flowserve Corporation, United States.
- Clariant Speciality Chemicals, Switzerland.