Japan Mineral Oil Market

Japan Mineral Oil Market Size Insights Forecasts to 2035

• Japan Mineral Oil Market Size 2024: USD 358.4 Mn
• Japan Mineral Oil Market Size 2035:  USD 617.4 Mn
• Japan Mineral Oil Market CAGR 2024: 5.07%
• Japan Mineral Oil Market Segments: Grade and End-User.

Japan's Market Size for Mineral Oil consists primarily of mineral-based lubricants; base stocks derived from crude oil that are used in vehicles and appliances, industrial fluids such as hydraulic oil, grease, etc., and other specialty fluids such as those used in automotive and machinery applications. Mineral oils are derived from the refinement of crude oil and have been produced since the inception of the petroleum industry. In Japan, mineral oil production and consumption have followed the pattern of many other countries. The primary uses of mineral oils in Japan today include lubricating engine oils, hydraulic fluid, grease, and various technical grades of the White Oil for use in cosmetics and pharmaceuticals.

The Japan Organization of Metals and Energy Security (JOGMEC), among other similar entities, works to promote the exploration, production, and development of oil and gas and mineral technologies in Japan while providing support to Japanese companies. Additionally, the Ministry of Economy, Trade and Industry (METI) regularly revises its long-term plans for resource and energy development, incorporating the concept of carbon dioxide capture and storage (CCS) to balance the growing energy demand created by fossil fuels while achieving the environmental objectives identified by METI.

Advancements in technology in Japan's mineral oil market include the continued development of advanced refining technologies, the application of high-performance base oil formulations to produce engine oils, and the digitalization of manufacturing with artificial intelligence and the internet of things to provide increased production efficiency and predictive maintenance. Companies are also working to develop new low-emission or energy-efficient mineral oils, develop new Technologies for Recycling Used Oils, and develop a refining Industry to meet the needs of Sustainability and Regulatory Compliance.

Market Dynamics of the Japan Mineral Oil Market:

The Japanese mineral oil market is driven by steady demand for mineral oils as lubricants and hydraulic fluids. Continued growth in infrastructure maintenance, the increasing number of vehicles, and the need for affordable, efficient lubrication solutions will all contribute to the continued growth of this market. In addition, stringent quality requirements will also further drive both the necessity for frequent replacements and the increased usage of mineral oil-based products.

The Japanese mineral oil market restrained by stringent environmental restrictions, increased carbon-reduction goals, and an increasing preference for synthetic and bio-based lubricants. Furthermore, diminishing internal combustion vehicle usage, high import reliance on crude oil, and price instability all constrain market expansion.

Opportunities exist in technology advances in refining and formulation that improve performance while lowering emissions. Expansion of industrial and construction operations, growth in specialized mineral oils (white oils, medical and cosmetic grades), and adoption of re-refining and recycling technology all create substantial growth opportunities for the mineral oil industry.

Market Segmentation

The Japan mineral oil market share is classified into grade and end-user.

By Grade:

The Japan mineral oil market is divided by grade into technical oil and white oil. Among these, the white oil market segment held the largest market share in 2024 and is anticipated to grow at a significant CAGR during forecast period. White oils are widely utilized in a variety of applications, including adhesives, animal vaccinations, medicines, and plastics. Also. White oils are both high purity and cost-effective, increasing their demand for use in a wide range of end-use sectors.

By End-User:

The Japan mineral oil market is divided by end-user channel into personal care, food and beverages, industrial, pharmaceutical, and other. Among these, the pharmaceutical segment dominated the market in 2024 and is anticipated to grow at a remarkable CAGR during forecast period. Pharma-grade white oil is utilized by the pharmaceutical industry to create new formulations. Also, white mineral oil pharma grade is a significant raw ingredient in the pharmaceutical, cosmetic, and food industries.

Competitive Analysis:

The report offers the appropriate analysis of the key organisations/companies involved within the Japan mineral oil market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

Top Key Companies in Japan Mineral Oil Market:

• ENEOS Corporation
• Idemitsu Kosan Co., Ltd.
• Cosmo Energy Holdings Co., Ltd.
• Japan Sun Oil Company Ltd.
• Mitasu Oil Corporation
• Yushiro Chemical Industry Co., Ltd.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at the Japan, regional, and country levels from 2020 to 2035. Decisions Advisors has segmented the Japan Mineral Oil Market based on the below-mentioned segments:

Japan Mineral Oil Market, By Grade

• Technical Oil
• White Oil

Japan Mineral Oil Market, By End-User

• Personal Care
• Food and Beverages
• Industrial
• Pharmaceutical
• Other

FAQ

Q: What is the expected market size and growth rate of the Japan mineral oil Market?
A: The market is expected to grow from USD 358.4 million in 2024 to USD 617.4 million by 2035, registering a CAGR of 5.07% during the forecast period.

Q: Which end-user segment dominates the Japan mineral oil Market?
A: The pharmaceutical segment dominated the market in 2024, driven by strong demand for pharma-grade white oil used in medicines, cosmetics, and food-related formulations.

Q: What are the key driving factors of the Japan mineral oil Market?
A: Key drivers include steady demand for lubricants and hydraulic fluids, infrastructure maintenance, vehicle usage, cost-effectiveness of mineral oils, and strict quality requirements across industries.

Q: What factors restrain the growth of the Japan mineral oil Market?
A: Market growth is restrained by stringent environmental regulations, carbon-reduction targets, rising adoption of synthetic and bio-based lubricants, declining internal combustion vehicle usage, and crude oil price volatility.

Q: Who are the major players in the Japan mineral oil Market?
A: Leading companies include ENEOS Corporation, Idemitsu Kosan Co., Ltd., Cosmo Energy Holdings Co., Ltd., Japan Sun Oil Company Ltd., Mitasu Oil Corporation, and Yushiro Chemical Industry Co., Ltd.

Q: Who are the target audiences for the Japan mineral oil market report?

A: The report targets market players, investors, end-users, government authorities, consulting and research firms, venture capitalists, and value-added resellers (VARs).