Top 10 Manufacturers in Mineral Oil & Mineral Spirit Market transparencymarketresearch.com
In terms of value, the global mineral oil & mineral spirit market is anticipated to expand at a CAGR of 4.5% from 2020 to 2030. Mineral oil and mineral spirit are primarily used in pharmaceutical, textile, and building & construction applications. Mineral oils such as propylene, ethylene, and benzene are widely employed in various end-use industries such as rubber, electronics, plastics, and packaging. Mineral spirit is a transparent-liquid extracted from petroleum due to its solvency characteristics. Mineral spirit is highly used as a paint thinner, as it is insoluble in water. It is also utilized as extraction, cleaning, and degreasing solvent. Different grades of solvents are available. They are segmented based on their production and modification process. Four types of mineral spirits are produced as fractional distillation fractions obtained from kerosene cut of crude oil and naphtha. The composition of these types varies within some specific limits due to difference in raw materials used during the production process.
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