White Oil Industry Overview
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 Market Segmentation
Grand View Research has segmented the global white oil market based on application and region:
Based on the Application Insights, the market is segmented into Adhesives, Agriculture, Food, Pharmaceuticals, Personal Care, Textile, Polymers, Others.
- The personal care application segment dominated the market with a revenue share of over 25.0% in 2021. This is attributed to the increase in demand for personal care products owing to the increase in health awareness among people. White oil is utilized as a base ingredient and as an emollient during the processing of various personal care products.
- It is extensively consumed for the manufacturing of a wide range of personal care products such as cosmetics, skincare creams, moisturizers, baby products, body lotions, hair oils, shampoos, fragrances, and water-resistant creams.
- The product exhibits inertness towards other chemicals in contact, color stability, and no odor owing to which it is used as a softening agent or as an emollient in creams. Furthermore, the product is utilized for the manufacturing of water-resistant creams owing to its excellent hydrophobicity.
- The adhesives application segment is anticipated to register the highest revenue-based CAGR of 4.6% over the forecast period. The growth is attributed to the rise in the requirements of the product as diluents for the processing of hot melt and pressure-sensitive adhesives.
- White oil has good compatibility with human skin, induces transparency, and maintains the color stability that is required for obtaining the desired production yield of adhesives.
- The consumption of white oil in the agriculture application segment is expected to increase significantly due to its performance characteristics. White oil is odorless, tasteless, and prevents dust when applied directly on grains to suppress dust formation.
White Oil Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market for white oil is highly competitive with the big international brands focusing on the development of a long-term relationship with the end-users. With the further growth in the personal care and pharmaceuticals sectors, the competition is anticipated to increase in the coming years.
Some prominent players in the global white oil market include
- British Petroleum
- Renkert Oil, Inc.
- ExxonMobil Corporation
- JX Nippon Oil & Energy Corporation
- Nynas AB
- Petro-Canada
- Royal-Dutch Shell N.V.
- Sinopec Corporation
Order a free sample PDF of the White Oil Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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