The global White Oil Market size is expected to reach USD 3.0 billion by 2030, as per a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.2% from 2022 to 2030. The product demand is attributed to the increase in the consumption of the product by various end-use industries such as personal care and pharmaceutical.
The personal care application segment extensively utilizes the product as a base ingredient, lubricant, softening agent, and a key processing additive for various personal care products mainly including cosmetics, make-up products, lipsticks, skin care lotions, and hair care products. Multiple uses of white oil, coupled with the growth of the personal care industry in developing countries, are driving the product demand.
White oil can be easily blended with other base oils and chemicals for use in adhesive formulations. It enables the adhesive to maintain transparency for a longer duration. Due to the performance-enhancing properties of white oil, the consumption for the same is expected to rapidly rise in the adhesive application segment in the next couple of years.
The product has a wide application scope in the personal care sector. It is primarily used as a base ingredient for manufacturing a large array of personal care products ranging from hair care to skincare product categories. The personal care segment is expected to drive the white oil industry demand in the next few years owing to the increasing use of cosmetics and skincare products, especially in developing countries such as China, India, and Brazil. However, adhesives, agriculture, and polymers are estimated to offer significant growth opportunities for the market over the forecast period.
List of Key Players in White Oil Market
- British Petroleum
- Renkert Oil, Inc.
- ExxonMobil Corporation
- JX Nippon Oil & Energy Corporation
- Nynas AB
- Petro-Canada
- Royal-Dutch Shell N.V.
- Sinopec Corporation
Related Press Release@ White Oil Market Report
White Oil Market Report Scope
Report Attribute
Details
Market size value in 2022
USD 2.1 billion
Revenue forecast in 2030
USD 3.0 billion
Growth rate
CAGR of 4.2% from 2022 to 2030
Base year for estimation
2021
Historical data
2017 - 2020
Forecast period
2022 - 2030
White Oil Market Report Highlights
- The personal care application segment accounted for the largest revenue share of more than 25.0% in 2021. The growth is attributed to the increase in the demand for the personal care products such as skin care lotions, make-up products, and hair care products, which utilizes the product as their base ingredient for manufacturing
- The pharmaceutical application segment accounted for the second-largest revenue share in 2021 owing to the growth of the sector post-COVID and an increase in health awareness among people. This, in turn, drives the demand for the product as it is utilized in the manufacturing of various medicines
- The adhesives application segment is anticipated to expand at the highest revenue-based CAGR of 4.6% over the forecast period. The growth is attributed to the increase in the requirements for white oil for the processing of adhesives
- The product is used for various purposes in the agriculture sector including dust control of grain elevators, tobacco processing, crop protection, animal fodder protection, and other horticultural applications
- Rapid consumption of the product in the application sectors such as textile, agriculture, and adhesives is anticipated to offer significant growth opportunities over the forecast period
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White Oil Market Segmentation
Grand View Research has segmented the global white oil market based on application and region:
White Oil Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Adhesives
- Agriculture
- Food
- Pharmaceuticals
- Personal Care
- Textile
- Polymers
- Others
White Oil Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Europe
- Germany
- Russia
- Asia Pacific
- China
- India
- South Korea
- Latin America
- Brazil
- Middle East & Africa
COVID-19 Impact Analysis on White Oil Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
The report encompasses data regarding market share and recent developments by key players.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the white oil market include China Petroleum & Chemical Corp (Sinopec Corporation), Calumet Specialty Products Partners, L.P., Chevron Corp., Exxon Mobil Corporation, Total S.A., Royal Dutch Shell plc, Fuchs Perlolub SE, Nynas AB, H GmbH & Co. KGaA, Savita Oil Technologies Ltd., Panama Petrochem Ltd.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global White Oil Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/white-oil-market/download-sampleMarket DynamicsThe growth of this market is mainly attributed to rising adoption in food and beverages.
Increasing usage of white oil in personal care products such as creams, lotions, lip balm, baby oil, and different hair and skin care products.
