The global Liquid Paraffin market stood at approximately 1600 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 3.23% during the forecast period until 2034. Liquid Paraffin, also known as mineral oil, is a colorless and odorless petroleum-derived substance with a chemical formula primarily composed of saturated aliphatic hydrocarbons (CnH2n+2). These hydrocaAAzrbons, mainly linear alkanes, consist of straight-chain structures with single bonds between carbon atoms, rendering them highly saturated. As a byproduct of crude oil refining, Liquid Paraffin emerges during the distillation process in a refinery, where crude oil is separated into different fractions based on boiling points. The fraction containing Liquid Paraffin undergoes further processing through vacuum distillation, conducted at lower pressures to minimize boiling points and prevent thermal degradation. In the hydrofinishing stage, a hydrotreating process involves treating the Liquid Paraffin fraction with hydrogen under high temperature and pressure. On the basis of grade, global Liquid Paraffin market is divided into- Industrial Grade, Food Grade, Cosmetic Grade, and Pharmaceutical Grade.
Liquid Paraffin finds common usage in the pharmaceutical industry, particularly in formulating oral medications and laxatives, where it serves as a lubricant, facilitating the passage of stool in cases of constipation. Additionally, it is a key ingredient in various cosmetic and personal care items like skin creams, lotions, and baby oils. The cosmetic and personal care industry utilizes Liquid Paraffin for its emollient properties, which help soften and smooth the skin, making it a common ingredient in lotions, creams, and lip balms. Additionally, its moisturizing properties enable it to retain moisture in the skin, keeping it hydrated and supple. Liquid Paraffin also serves as a solvent for fragrances and other ingredients, acting as a carrier for various components in cosmetic formulations. This versatility makes it a valuable ingredient in a wide range of skincare and cosmetic products, contributing to their efficacy. Liquid Paraffin is utilized in food processing for various purposes including acting as a lubricant, ensuring seamless machinery operation, functioning as a release agent to prevent food adherence to processing equipment, and serving as an anti-foaming agent to regulate and diminish foam formation in specific food items.
The market for Liquid Paraffin is driven by various influential factors across different industries. In the cosmetics and personal care sector, Liquid Paraffin, also known as mineral oil, is extensively utilized in products like lotions, creams, and moisturizers due to its hydrating and emollient properties. With the global surge in demand for skincare and beauty items, the use of Liquid Paraffin in this industry is projected to rise steadily. Within the pharmaceutical sector, Liquid Paraffin finds widespread application, serving as a laxative in over-the-counter medications and as a coating for pills and capsules owing to its inert nature and lubricating abilities. With the healthcare sector on the rise, the demand for Liquid Paraffin in pharmaceutical formulations is simultaneously expected to increase. Liquid Paraffin also plays a vital role in various industrial applications, including as lubricants, coatings, and solvents in manufacturing processes. Its low reactivity, stability, and lubricating properties make it indispensable in industrial settings, ensuring sustained growth in this sector. While its use in food applications is relatively limited compared to other sectors, it remains a contributing factor to the overall demand for Liquid Paraffin. The global Liquid Paraffin market is likely to reach approximately 2400 thousand tonnes in 2034.
As of 2024, the Asia-Pacific region has emerged as the largest consumer of Liquid Paraffin globally, holding a significant market share. This dominance is propelled by several factors, including rapid industrial growth in developing economies, leading to increased demand for Liquid Paraffin in applications such as lubricants, anti-foaming agents, and dust suppressants. Additionally, the region's substantial and growing population contributes to heightened consumption, particularly in industries like pharmaceuticals and cosmetics, which extensively utilize Liquid Paraffin. The expanding pharmaceutical and cosmetic sectors in the region further bolster this trend, indicating a sustained demand for Liquid Paraffin.
Based on the end-user industry, the global Liquid Paraffin market is divided into Pharmaceuticals, Cosmetics & Personal Care, Food, and Others. Among these, pharmaceuticals sector is the dominating segment and held about 34% of the global Liquid Paraffin market in 2023 and is anticipated to prevail the similar trend in the upcoming years.
Major players in the Global Liquid Paraffin market are Sasol joins the ranks alongside CNPC Group, Nynas, Dongming Petrochemical, Calumet, JX Nippon Oil & Energy, ExxonMobil Chemical, Petro-Canada, Farabi Petrochemicals, H&R AG, Formosa Plastics, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Liquid Paraffin which covers production, demand and supply of Liquid Paraffin market in the globe.
• To analyse and forecast the market size of Liquid Paraffin
• To classify and forecast Global Liquid Paraffin market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Liquid Paraffin market in the globe.
To extract data for Global Liquid Paraffin market, primary research surveys were conducted with Liquid Paraffin manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Liquid Paraffin market over the coming years.
ChemAnalyst calculated Liquid Paraffin demand across the globe by analyzing the volume of Liquid Paraffin consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Liquid Paraffin manufacturers and other stakeholders
• Organizations, forums and alliances related to Liquid Paraffin distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Liquid Paraffin manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Liquid Paraffin market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
1600 thousand tonnes
Market size Volume in 2034
2400 thousand tonnes
Growth Rate
CAGR of 3.23% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Grade, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Pharmaceuticals, Cosmetics & Personal Care, Food, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Liquid Paraffin market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Liquid Paraffin.
3. Capacity By Location
To better understand the regional supply of Liquid Paraffin by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Liquid Paraffin by the leading players and forecast how it will grow in the coming years.
6. Demand by Grade
Learn about the various Grades of Liquid Paraffin- Industrial Grade, Food Grade, Cosmetic Grade, and Pharmaceutical Grade, and their demands. It will allow you to choose which Grade to concentrate on when designing your strategy.
7. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Pharmaceuticals, Cosmetics & Personal Care, Food, and Others) are creating a market and the forecast for the growth of the Liquid Paraffin market.
8. Demand by Region
Analyzing the change in demand of Liquid Paraffin in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
9. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Liquid Paraffin. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
10. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Liquid Paraffin.
11. Company Share
Figure out what proportion of the market share of Liquid Paraffin is currently held by leading players across the globe.
12. Manufacturing Process
Discover insights into the intricate manufacturing process of Liquid Paraffin.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Liquid Paraffin in terms of volume in 2023?
Ans:
The global market size of Liquid Paraffin has reached approximately 1600 thousand tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Liquid Paraffin?
Ans:
Pharmaceuticals industry is the leading end-user industry of Liquid Paraffin globally.
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Ans:
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