Global White Oil Market Size worth USD 2,100 Million, Technological advancements in adhesives to boost market growth – At a CAGR of 4.05%
The global white-oil market was worth USD 2,100 million by 2021. It is expected to grow at a compound annual pace of 4.5% in 2023-2032.
White Oil Market growth is due to rising demand for personal care products and expanding applications in the textile and pharmaceutical industries. The Global White Oil Market report offers a comprehensive analysis of the market. This report provides a detailed analysis of the market’s key segments, trends, and drivers.
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White Oil Market: Drivers
The personal care industry is rapidly growing
Market revenue growth is expected to be driven by rising demand for personal care products and pharmaceuticals. The global personal care market is expected to grow due to rising demand for grooming products, and changing consumer preferences toward natural and organic products. This will result in significant supply and demand for white mineral oil. This oil’s moisture resistance property encourages cosmetic companies to use it in personal care products. White oil can treat minor irritations such as dry, itchy skin, scaly, or rough patches. It helps soften rubber-based and polymer-based products. It also manufactures emollients for penicillin production and eye oil lubricants. This will increase the demand for white oils in this sector. The automation and car manufacturing industries support the growing demand for tiers. Market revenue growth is expected to be driven by a wide range of applications for white mineral oil in the plastic, rubber, and food packaging industries.
White Oil Market: Restraints
The Russia-Ukraine crisis causes a supply shock in crude oil
The global supply of crude oil was cut off during the Russia-Ukraine crisis, which affected the production and use of different oil sources. Some countries, such as the UK or the US, restricted oil imports from Russia. Several other countries panicked and began buying crude oil, which led to a rise in global prices. This has caused a disruption in global supply, which will likely limit the adoption of a white oil on the global market. Market revenue growth is also limited by the availability of many alternatives to white oil. Direct use of white oil can cause stinging, burning, and irritation. Untreated and mildly processed mineral oils can sometimes be carcinogenic, limiting the market’s revenue growth.
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White Oil Market Key Trend:
The Pharmaceutical Industry will experience significant growth
The pharmaceutical industry consumes white oil as the second largest consumer. White oil makes laxative jelly, pomades and creams, capsule oils, pelletizing aids, ointment bases, and vaccines.
This application uses pharmaceutical-grade white oil because it is the purest. White oil has a viscosity that ranges from medium to light for pharmaceutical applications.
According to the Government of India (GoI), the Indian pharma market is expected to grow to USD 130 billion by 2030. India has supplied pharmaceutical products to over 200 countries, and this may continue in the future.
India is the largest supplier of generic drugs. It supplies 40% of the US generic drug market and 30% of the UK. A chain of approximately 10,500 companies makes up the domestic drug manufacturing industry.
The factors above will drive the growth of white oil in the pharmaceutical application sector during the forecast period.
Recent development:
In January 2019, HollyFrontier Corporation announced that its subsidiaries had completed their acquisition of Sonneborn US Holdings Inc. & Sonneborn Cooperative UA (Sonneborn) for USD 655 million. This will increase its market position in the global White Oil Market.
ExxonMobil Corporation launched a new line of synthetic engine oils in Sep 2021. This is Mobil Super TM All-in-One Protection SUV Pro.
Scope of the Report
| Attribute | Details |
| Market Size in 2021 | USD 2,100 Million |
| Growth Rate | CAGR of 4.5% |
| Historical Years | 2016-2020 |
| Base Year | 2021 |
| Quantitative Units | USD In Mn |
| No. of Pages in Report | 200+ Pages |
| No. of Tables & Figures | 150+ |
| Format | PDF/Excel |
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Key Market Players:
- British Petroleum
- Renkert Oil, Inc.
- ExxonMobil Corporation
- JX Nippon Oil & Energy Corporation
- Nynas AB
- Petro-Canada
- Royal-Dutch Shell N.V.
- Sinopec Corporation
- Other Key Players
By Application:
- Adhesives
- Agriculture
- Food
- Pharmaceutical
- Personal Care
- Textile
- Polymers
- Other Applications
Product Type:
- Light Paraffinic
- Heavy Paraffinic
- Naphthenic
Industry, By Region
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
Key questions:
- What are the major players in the white oil market?
- What are the main factors that drive the white oil market?
- What is India’s White Oil Market growth rate?
- Which segments are included in the White Oil Market Report?
- What was the White Oil Market’s market size in 2022?
- What is the market study period?
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