Liquid Paraffin Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1712
Liquid Paraffin Market size has grown substantially in recent years and will witness similar scenario in the forecast period. Major drivers of the market are its application in pharmaceutical, textile, cosmetic and food & beverage industry. It has limited usage occasional purge, but is unsuitable for regular use as it may drip from the anus and may cause irritation. Product is also combined with magnesium in the form of osmotic laxative and is further sold as Mil-Par.
The compound is even consumed in infrared spectroscopy. It is used in baking tins by applying it on them, which in turn removes cooked food easily. Further, it has applications in several food products including apples appear shiny for a focus demonstration. Escalating packaged food industry owing to consumers improved standard of living is anticipated to boost liquid paraffin market.
The product is used as a laxative to frontier the amount of water removed from the stool and can ease constipation as it passes through the body’s intestinal tract without getting absorbed. Based on drugs, liquid paraffin market is divided into emollients and softeners. It is used as an emollient cream to treat dry skin. On the basis of form it is segmented into ophthalmic solution, enema, oral suspension, oral gel, topical oil, topical ointment and topical lotion.
The paraffin is chiefly consumed in lubricants for numerous industrial applications. It is used in mechanical mixing and to lubricate blades in paper industry. Concentrated product has usage in textile industry due to its several applications in weaving and spinning. It acts as a lubricant in sewing machine. Prevailing fashion trend among youngsters is flourishing textile industry, that would significantly drive liquid paraffin market during the forecast timeframe.
Liquid paraffin is petroleum derived product and is also referred as highly refined mineral oil. Classification of several types of chemicals are done under mineral oil which have wide applications, including manufacturing industry. High refined mineral oils are appropriate for skin care product and oral ingestion.
Liquid paraffin is used in easing eczema irritation and diaper rash. Various cosmetic industry uses the product in formulation of cold creams, hydrated creams, detergent creams, bronzed oil and several makeup products. Compound also has applications in medical industry for treatment of intestinal obstruction and constipation. Based on end-use industry liquid paraffin market is segmented into food & beverages, cosmetic, paper & pulp and pharmaceutical industries. The product is widely consumed in pharmaceutical industry amongst all the industries.
North America is likely to experience significant growth in liquid paraffin market in next seven years. Emerging manufacturing industries are using the product as lubricants, that will fuel demand of the product. Busy lifestyle of people has switched them to packaged food over regular meals which will improve consumption of the compound in food and beverage industry. Increasing concern regarding beauty and appearance is developing gradually, in turn making significant positive impact on cosmetics industry.
Europe liquid paraffin market is likely to witness upsurge between 2017 and 2024 owing to rising industrialization in the region. Low temperature countries in the region have boosted the demand of cold creams and dry skin medical products, that will support the compound growth. Asia-Pacific is leading liquid paraffin market due to rapid urbanization and economic development in past several years. Rising spinning and weaving industries in many countries including India and China will keep the region dominant in the global market. Escalating population and disposable income in middle class population will drive the demand for beauty and skin care products, in turn propelling the product demand.
Global liquid paraffin market is moderately fragmented in nature. Some of the global competitors are Shell, Sasol, Savita, Nippon Oil, Farabi Petrochem, Sonneborn, CEPSA, Apar, Atlas Setayesh Mehr and ExxonMobil.
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