If you are interested in creating your own lip balm or lip butter recipe, I found these guidelines from Element Bath and Body Supply that could help you. I found the information quite helpful and hopefully will be brave enough to make up my own lip balm recipes.
You will need the following ingredients. Tip: Make sure to keep a journal of what you made so if the recipe turns out then you can recreate it at a later date.
25% Soft Butter (Example: Shea butter)
15% Brittle Butter (Example: Cocoa butter, Mango butter)
40% Fixed Oil (Example: castor, grapeseed, sunflower)
Because lip balms are oil-based (contain no water), no preservative is necessary. Add Vitamin E as an antioxidant (to prevent rancidity).
BASIC LIP BALM This is a recipe to get you started. Remember that you can be creative & alternate oils & butters to formulate your favorite recipe. 1 oz Beeswax 1.1 oz Shea Butter, refined 1.1 oz Cocoa Butter, deodorized 3.3 oz Castor or Grapeseed Oil
MELT: Add all ingredients in one microwave-safe container or double boiler. An inexpensive 4-Cup plastic measuring cup that has an angled tip for easy pouring is perfect for such a task. Do no overheat. If using a microwave, stir every 30 seconds.
When above ingredients are melted, add the following optional ingredients: .1 oz Vitamin E If you prefer a sweetened lip balm, add .5 tsp stevia powder (stevia powder can cause graininess, so you may opt for no sweetener or some other source of sweetener.) Flavor Oil or Essential Oil: Depending on the oil, use up to .1 oz flavor or essential oil.
POUR into Lip Balm Tubes . As the batch cools, it will coagulate & become difficult to pour. Simply place in the microwave for 10-15 seconds & then continue filling tubes. Fills approx 30 .15 oz lip balms.
Variations: 2ml Peppermint EO is nice & simple w/this recipe. Change the deodorized cocoa butter to natural cocoa butter & you've got a Chocolate-Peppermint Lip Balm!