Paraffin Oil Market Size Worth $3.3 Billion by 2031 | CAGR: 4.4%: AMR

Rising demand from the cosmetics & personal care industry drives the growth of the global paraffin oil market. Based on application, the pharmaceuticals segment held the major share in 2021. By region, on the other hand, the market across Asia-Pacific would cite the fastest CAGR by 2031.


Portland, OR, Oct. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global paraffin oil market was estimated at $2.2 billion in 2021 and is expected to hit $3.3 billion by 2031, registering a CAGR of 4.4% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report Coverage & Details:

Report CoverageDetails
Forecast Period2022­–2031
Base Year2021
Market Size in 2021$2.2 Billion
Market Size in 2031$3.3 Billion
No. of Pages in Report280
Segments CoveredGrade, Application, and Region.
Drivers Rising demand from the cosmetics & personal care industry
OpportunitiesGrowth in the packaging industry
RestraintsDevelopment of bio-based products

Covid-19 Scenario-

  • The outbreak of the pandemic disrupted the supply chain of the cosmetics & personal care industry. The import & export of paraffin oil was also hampered to a significant extent.
  • Nevertheless, at the same time, surge in demand from the pharmaceuticals industry for laxative treatments had a positive impact on the market.

The global paraffin oil market is analyzed across grade, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

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Based on grade, the pharmaceutical segment garnered nearly half of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also project the fastest CAGR of 4.7% throughout the forecast period.

Based on application, the pharmaceuticals segment held more than half of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 4.7% throughout the forecast period.

Based on region, the global paraffin oil market across Asia-Pacific generated nearly three-fifths of the total market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also showcase the fastest CAGR of 4.7% throughout the forecast period. The other provinces analyzed through the report include North America, Europe, and LAMEA.

The key market players analyzed in the global paraffin oil market report include BAKER HUGHES, BP plc, Cepsa, evonik industries ag, Eni S.P.A, Exxon Mobil Corporation, Mitsui Chemicals, BASF SE, gulf oil international group, Honeywell International Inc., HollyFrontier Refining and Marketing LLC, Linde plc, China National Petroleum Corporation, Sasol Limited, and Royal Dutch Shell Plc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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