Industrial Oils Market

Industrial Oil Market Expected to Reach $85.9 Billion by 2031 — Allied Market Research

WILMINGTON, DELAWARE, UNITED STATES, March 1, 2024 /EINPresswire.com/ -- Industrial oils are produced using hydrotreated or hydrocracked base oils, which offer a separate quality benefit over other comparable goods produced through the use of standard base oils. The presence of developing countries in Asia-Pacific such as China and India, which are the hub for industrial oil production owing to the rapid expansion of chemical, biodiesel, and cosmetic industries boost the demand for industrial oil which is used as raw materials in various production facilities. The basic sources of industrial oil are soybean, corn, sunflower, cottonseed, rapeseed, palm, groundnut, linseed, and grape seed. The industrial oil market size was valued at $62.4 billion in 2021, and the industrial oil industry is estimated to reach $85.9 billion by 2031, growing at a CAGR of 3.3% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/17822

Industrial oil are used in machines that manufacture or process food-related commodities, pharmaceutical products, cosmetics, corrosion protection products, and power transmission Increased use of industrial oil in the food and beverage industry is one of the major drivers for the industrial oil market. The rise in middle-class income, particularly in developing countries such as China and India, has resulted in increased demand for food and beverages. The presence of a huge population in the above-mentioned developing countries has a positive impact on the demand for industrial oil. Furthermore, the expansion of industries such as dairy products, animal feed, beverages, meat processing, sugar, bakery products, and processed fruits and vegetables across the globe has had a positive impact on the demand for food-grade industrial oil.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

The Industrial Oil industry's key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.

𝐒𝐨𝐦𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐎𝐢𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞,

Malplast Industries Limited
Archer Daniels Midland
Wilmar International
AAK Kamani
Cargill Incorporated, LLC PK "XimProm"
Matole Ltd
Fujian Qian Trading Co. Ltd.
Royal Dutch Shell Plc
Castrol Limited
Gemtek Products
Buhler Group
Chevron USA Inc.
Kratan Corporation
China Petroleum & Chemical Corporation (Sinopec)
Exxon Mobil Corporation
Bunge Limited
Soya Mills SA

𝐆𝐞𝐭 𝐚 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/request-for-customization/17822

With the growing global population, there has been an increase in the demand for efficient power sources. Industrial oil is used in machines related to power transmission and the increase in investment of the government & private players in the development of renewable energy has led to the demand for power transmission-related products, which have a positive impact on the industrial oil market. Furthermore, the increase in awareness among individuals regarding the environment and decline in the fossil fuel resources led to the innovation & development of alternatives such as biodiesel have led to an increase in the demand for the industrial oil market. The presence of these advantages is expected to drive the industrial oil market growth during the forecast period.

The industrial oil market forecast is segmented based on source, type, end-user, and region. Based on the source, the market is segmented into soybean, corn, sunflower, cottonseed, palm, and others. Based on type, the market is classified into grade 1 (light), grade 2 (medium), and grade 3 (heavy). Based on end-use, it is classified into biofuel, paints and coatings, cosmetics and personal care, pharmaceuticals, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/17822

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲:

- As per industrial oil market analysis, Asia-Pacific holds a dominant position in 2021 and will continue to maintain the lead during the forecast period.
- By source, the soybean segment accounted for the largest industrial oil market share in 2021.
- By type, the grade I segment accounted for the largest share in 2021.
- By end use, the biofuel segment is projected to grow at a CAGR of 2.9% by 2031.

𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐚𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝟏. 𝐎𝐢𝐥𝐟𝐢𝐞𝐥𝐝 𝐀𝐮𝐱𝐢𝐥𝐢𝐚𝐫𝐲 𝐑𝐞𝐧𝐭𝐚𝐥 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/06/16/2464112/0/en/Oilfield-Auxiliary-Rental-Equipment-Market-Is-Expected-to-Reach-42-9-Billion-by-2030-AMR.html

𝟐. 𝐎𝐢𝐥 𝐒𝐡𝐚𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/06/13/2461097/0/en/Oil-Shale-Market-Is-Expected-to-Reach-5-9-Billion-by-2030-Allied-Market-Research.html

𝟑. 𝐎𝐢𝐥 𝐒𝐭𝐨𝐫𝐚𝐠𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/news-release/2022/03/15/2403073/0/en/Oil-Storage-Market-Is-Expected-to-Reach-18-4-Billion-by-2030-Says-AMR.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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