White Oil Market By Grade (Technical, Pharmaceutical), By Application (Plastic and Polymer, Pharmaceuticals, Food Industry, Personal Care and Cosmetics, Textiles, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global white oil market was valued at $2.2 billion in 2021, and is projected to reach $3.1 billion by 2031, growing at a CAGR of 3.7% from 2022 to 2031. White oil is colorless, odorless, and tasteless mineral oil that is used in medicine, pharmaceutical, and cosmetic preparations. It comprises of mineral oil distillate that is hydrogenated and separated into parafiins, naphthenes, and aromatics by adsorption on a solid adsorbent.
The increasing awareness of fashion consciousness has led the textile sector to witness a significant increase in demand where white oil is used as a lubricant. This may act as one of the key drivers responsible for the growth of the white oil market for technical grade. In addition, rapidly changing lifestyles have surged the demand for packed food items where technical grade white oil is widely preferred to soften the food packaging materials. Furthermore, the rise in awareness for personal care activities has increased the demand for various personal care products based on pharmaceutical grade white oil formulations. This factor may surge the utilization of pharmaceutical grade white oil in the growing personal care sector; thus, boosting the market growth.
However, the formulation of white oil requires various sophisticated chemical and physical steps that make it a relatively expensive product. This factor may hamper the growth of the white oil market during the forecast period. On the contrary, the emergence of deadly contagious diseases such as cancer, HIV/AIDS, tuberculosis, and others has led manufacturers to produce highly efficient medicines where white oil is widely used in producing various medicinal formulations. This is anticipated to increase the sales of white oil; thus, creating lucrative opportunities for the market.
The white oil market is segmented on the basis of grade, application, and region. On the basis of grade, it is fragmented into technical and pharmaceuticals grade. By application, it is classified into plastic & polymer, pharmaceuticals, food industry, personal care & cosmetics, textiles, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global white oil market profiles leading players that include The white oil market is segmented on the basis of grade, application, and region. On the basis of grade, it is fragmented into technical and pharmaceuticals grade. By application, it is classified into plastic & polymer, pharmaceuticals, food industry, personal care & cosmetics, textiles, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. The global white oil market report provides an in-depth competitive analysis as well as profiles of these major players.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the white oil market analysis from 2021 to 2031 to identify the prevailing white oil market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the white oil market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global white oil market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Grade
Technical
Pharmaceutical
By Application
Plastic and Polymer
Pharmaceuticals
Food Industry
Personal Care and Cosmetics
Textiles
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest Of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest Of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
Adinath Chemicals
Asian Oil Company
Castrol Limited
Chevron USA Inc.
China Petroleum & Chemical Corporation (Sinopec)
Eastman Chemical Company
Exxon Mobil Corporation
Lanxess
Lodha Petro
Nandan Petrochem Ltd.
RENKERT OIL
Royal Dutch Shell Plc
Savita Oil Technologies Limited
Sonneborn LLC
TOTAL ENERGIES
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