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The market for food grade mineral oil is being driven by the rising demand for baby oils and lotions in the emerging countries like China, India, Denmark, and Canada, due to the escalated awareness for personal care. The market is also witnessing rising demand from the Asia Pacific region. This can be attributed to the rising disposable incomes, changing lifestyles, and rapid urbanisation. The region also offers great opportunity for the growth of companies in the food grade mineral oil industry.
The food grade mineral oil industry is being driven by the rising competition among the industry key players like Phillips 66 Company (NYSE: PSX) and Sonneborn LLC. The latter offers a range of products to the food industry, with health and safety measures, and applications that require high-level purity and excellent performance. The food grade mineral oil provided by the company, apart from having same technical functions as a lubricant, also complies with all food/health and safety regulations, internationally approved, and are physiologically inert, odourless, and tasteless. Sonneborn offers a low cost, low-volatility, and oxidation-stable viscosity enrichment for food grade lubricant inventions. The ongoing developments in the industry are expected to aid the market growth over the forecast period.
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Apar Industries Ltd., Sonneborn LLC, Phillips 66 Company, Eastern Petroleum Private Limited, and Petro-Canada Lubricants, among others, are the key players in the global food grade mineral oil market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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