White Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Adhesives, Agriculture, Food, Pharmaceuticals, Personal Care, Textile, Polymers, Others); By Grade; By Region; Segment Forecast, 2023-2032

White Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Adhesives, Agriculture, Food, Pharmaceuticals, Personal Care, Textile, Polymers, Others); By Grade; By Region; Segment Forecast, 2023-2032

The global white oil market size is expected treach USD 3,268.25 million by 2032, according ta new study by Polaris Market Research. The report “White Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Adhesives, Agriculture, Food, Pharmaceuticals, Personal Care, Textile, Polymers, and Others); By Grade; By Region; Segment Forecast, 2022-2032” gives a detailed insight intcurrent market dynamics and provides analysis on future market growth.

The rapidly growing use of the product in the production of pharmaceutical goods that includes internal lubricants, emollients, ointments, and laxatives as a major raw material, along with the increasing booming demand for the product in the agriculture, adhesives, and textile applications across the globe are among the major factors propelling the growth of the market. In addition, the extensive rise in the number of government-supportive initiatives and increasing implementation of new product launches and product expansion of major manufacturers of the market by tapping intemerging economies of the world are further projected tfuel the market's growth opportunities.

For instance, in October 2022, Luberef established its new production facility in Yambu, which will produce transformer oil & white oil used in pharmaceutical, food, and power generation. The new production facility will enable the localization of such types of specialty products in the country and will further attract the producers & operators of oil-related products.

In recent years, white oils have become essential tmany cosmetic formulations. Additionally, a surge in consumers preferring personal care and cosmetic products tenhance their health and support their self-esteem, especially in the European region, is alsrapidly boosting the demand for the product. For instance, according tthe “Cosmetic Europe” & the “Personal Care Association,” over 500 million people in Europe use cosmetic & personal care products daily.

Moreover, the growing proliferation of low-volatility white oils tmanufacture plastics and a wide range of polymers for enhancing and regulating the melt flow rate of the end product tmodify the physical properties and give release qualities are alsanticipated tfuel the growth and demand for the market.

White Oil Market Report Highlights

Personal care segment accounted for highest market share in 2022, which is highly accelerated by growing prevalence and penetration among variety of new developing products mainly among young generation

Technical grade segment is expected tgrow at a fastest CAGR during the projected period, owing tits higher adoption as a lubricant in textile industry and growing use of white oil in several industrial applications

Asia Pacific region dominated the white oil market in 2022, which is mainly driven by extensive growth of the pharmaceutical industry and continuously increasing spending on healthcare in countries like India and China

The global key market players include JX Nippon Oil & Energy Corporation, Sinopec Corporation, Chevron Corporation, ExxonMobil Corporation, and Calumet Specialty Products Partners

Polaris Market Research has segmented the White Oil market report based on application, grade, and region:

White Oil, Form Outlook (Revenue - USD Million, 2019 - 2032)

Adhesives

Agriculture

Food

Pharmaceuticals

Personal Care

Textile

Polymers

Others

White Oil, Grade Outlook (Revenue - USD Million, 2019 - 2032)

Technical

Pharmaceutical

White Oil, Regional Outlook (Revenue - USD Million, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa