How big is the mineral oil market | Growth & Share 2031

Q: What is the overall size of the mineral oil market?

The mineral oil market is projected to reach USD 5.4 Billion by 2031.

Q: What is the CAGR of the mineral oil market?

The mineral oil market is expected to grow at a CAGR of 4.60% during the forecast period.

Q: Where is mineral oil most commonly used?

Mineral oil is used extensively as a lubricant, emollient, and processing aid in industrial machinery, food processing, cosmetics, and pharmaceuticals.

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6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

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Code: MTA7319

Publication Date: Aug 2025

How big is the mineral oil market?

According to 6Wresearch internal database and industry insights, the Global Mineral Oil Market was valued at USD 3.9 Billion in 2024 and is expected to reach USD 5.4 Billion by 2031, growing at a compound annual growth rate of 4.60% during the forecast period (2025-2031).

The rising demand in the food, cosmetics, pharmaceutical, and industrial sectors is driving the market expansion. Mineral oil adaptability and regulatory approvals for use in food-grade and personal care applications are supporting its worldwide market presence.

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Growth Factors for Mineral Oil Market

The demand for mineral oil as a base ingredient in personal care and cosmetic products.
Expanding pharmaceutical applications, especially in laxatives and topical formulations.
Increasing use of food-grade mineral oil in packaging, machinery lubrication, and food preservation.
Industrial demand for white oil in plastic, textile, and rubber manufacturing processes.
Regulatory approvals for pharmaceutical and food-grade mineral oil in major economies.
Growth in the beauty and e-commerce industries is increasing sales of packaged skincare products.

Mineral Oil Market Trends

The Mineral Oil Market is witnessing a shift toward highly refined, pharmaceutical-grade white oils, driven by health and safety concerns. In skincare and cosmetic applications, non-toxic, odorless, and colorless oils are also clearly preferred.Technical white oils are being utilized more and more in industrial sectors for lubricating and thermally stable applications. Demands for multifunctional formulations, improved refining techniques, and sustainable sourcing are rising among manufacturers and end users.

Emerging Developments in the Mineral Oil Market

Emerging developments in the Mineral Oil Market include bio-based alternatives being explored alongside ultra-refined mineral oils for sensitive applications. Mineral oils are being incorporated into intricate medical and cosmetic formulations through the development of new microemulsion technologies.Market players are also taking notice of light mineral oils that are more versatile and comply with international regulations. In order to maintain quality control throughout the refining, packaging, and distribution processes, manufacturers are also investing in vertical integration.

List of Leading Companies in the Mineral Oil Market

Below is a comprehensive list of the leading market players driving growth in this sector:Â

1. Sonneborn LLC

Company Name	Sonneborn LLC
Established Year	1903
Headquarters	New Jersey, United States
Official Website	*Click Here*

This company specializes in high-purity white mineral oils used in personal care, pharmaceuticals, and food processing, with a worldwide footprint across regulated industries.