White Oil Market Data, Share, Size, Demand and Global Outlook 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “White Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global white oil market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the white oil market?

The global white oil market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.48% during 2023-2028.

What is white oil used for?

White oil, also called liquid paraffin, represents the highly refined mineral oil that is usually obtained as a by-product in the production of sulfonates. It is formed when naphthenic or paraffinic base oils are treated with sulfuric acid. The process removes the nitrogen and sulfur impurities, natural oxidation inhibitors, unsaturated, toxic, aromatic, and color-forming compounds, etc. It can also be produced from a wide array of feedstocks, depending on processes, such as the two-stage hydrotreating method. In line with this, white oil is colorless, pure, non-toxic, odorless, stable, and chemically inert in nature. Consequently, it finds extensive applications in numerous industries, such as food and beverage (F&B), pharmaceuticals, personal care, etc.

White Oil Market Trends and Growth Drivers:

The growing utilization of liquid paraffin as a carrier for curative drug formulations and in the production of ointments and laxatives is primarily driving the white oil market. Additionally, it is also adopted as fruit and vegetable coatings, food-grade lubricants and greasers, and within food packing materials, which is further bolstering the market growth. Besides this, the escalating demand for white oil, as it plays an essential role in producing elastomers and plastics, polystyrene internal lubricants, PVC external lubricants, plastic annealing, catalyst carriers, etc., is acting as another significant growth-inducing factor.

Moreover, the rising usage of white oil to manufacture topical skincare products, including body lotions, moisturizers, cold creams, petroleum jelly, hair care items, baby oil, etc., is also positively influencing the global market. Apart from this, extensive investments in R&D activities to introduce cost-efficient product variants are anticipated to fuel the white oil market over the forecasted period.

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White Oil Market 2023-2028 Competitive Analysis and Segmentation:

White Oil Key Companies:

• Bharat Petroleum Corporation Limited

• Calumet Specialty Products Partners L.P.

• China Petroleum & Chemical Corporation

• ExxonMobil Corporation

• H&R GmbH & Co. KGaA

• Nynas AB

• Petro Canada Lubricants Inc. (Hollyfrontier Corporation)

• Renkert Oil Inc.

• Royal Dutch Shell Plc

• Sasol Limited

• Savita Oil Technologies Limited

• Total SE

Key Market Segmentation:

Breakup by Application:

• Adhesive

• Agriculture

• Food

• Pharmaceutical

• Personal Care

• Textile

• Polymers

• Others

Breakup by Geographical Analysis:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

Read TOC: https://www.imarcgroup.com/white-oil-market/toc

Key Highlights of the Report:

• Market Performance (2017-2022)

• Market Outlook (2023-2028)

• Market Trends

• Market Drivers and Success Factors

• Impact of COVID-19

• Value Chain Analysis

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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