Paraffin Oil Market Size Valued at $3.3 Billion by 2031

Portland, Ore., Oct. 17, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, the global paraffin oil market was valued at USD 2.2 billion in 2021 and is expected to reach USD 3.3 billion by 2031, registering a CAGR of 4.4% from 2022 to 2031. The report provides a detailed analysis of the largest investment pockets, most profitable strategies, drivers and opportunities, market size and valuations, competitive landscape and emerging market trends. Market research is a useful source of information for leaders, new entrants, investors and shareholders in strategizing for the future and strengthening their market position.

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Report Coverage and Details:

Scenario Covid-19-

• The outbreak of the pandemic has disrupted the supply chain of the cosmetics and personal care industry. The import and export of paraffin oil was also hampered to a considerable extent.
• However, at the same time, increasing demand from the pharmaceutical industry for laxatives has had a positive impact on the market.

The global paraffin oil market is analyzed by grade, application, and region. The report contains a comprehensive analysis of the segments and their sub-segments with the help of tabular and graphical presentation. Investors and market participants can benefit from the breakdown and devise strategies based on the top revenue generating and fastest growing segments identified in the report.

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

On the basis of 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 indicate the fastest CAGR of 4.7% throughout the forecast period.

On the basis of region, the global paraffin oil market in Asia Pacific generated nearly three-fifths of the total market revenue in 2021 and is expected to retain the lion’s share until 2031. The same region will also demonstrate fastest CAGR of 4.7% over the entire 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 SPA, 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 adopted several strategies including partnership, expansion, collaboration, joint ventures and others to highlight their might in the industry. The report is helpful in formulating the business presentation, product portfolio, operating segments and developments by the leading players.

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About us

Allied Market Research (AMR) is the market research and business consulting arm 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 single-minded focus on providing business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relationship with various companies and this helps us to extract market data which helps us to generate accurate data tables from surveys and confirms extreme accuracy in our market forecasts. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high data quality and help clients in every possible way to achieve success. All the data presented in the reports published by us are derived through primary interviews with senior executives from leading companies in the respective domain. Our secondary data delivery methodology involves in-depth online and offline research and discussions with experienced industry professionals and analysts.