Global White Oil Market to Reach $2.8 Billion by 2030
The global market for White Oil estimated at US$2.1 Billion in the year 2023, is expected to reach US$2.8 Billion by 2030, growing at a CAGR of 4.4% over the analysis period 2023-2030. Personal Care Application, one of the segments analyzed in the report, is expected to record a 4.4% CAGR and reach US$720.4 Million by the end of the analysis period. Growth in the Pharmaceutical Application segment is estimated at 4.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $562.1 Million, While China is Forecast to Grow at 6.9% CAGR
The White Oil market in the U.S. is estimated at US$562.1 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$589.8 Million by the year 2030 trailing a CAGR of 6.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$375 Million by the year 2030.
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