The new report by Expert Market Research titled, ‘Global Petroleum Jelly Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global petroleum jelly market, assessing the market based on its segments like grades, end-users, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
Forecast CAGR (2022-2027): 0%
Petroleum jelly helps in the treatment of dry, rough, scaly, and itchy skin, and is majorly used in the cosmetics and pharmaceutical industry. In this regard, the thriving cosmetics and pharmaceutical industry, owing to the rising disposable income, flourishing retail sector, and growing awareness pertaining to personal hygiene, is anticipated to be a major driving factor in the market. Meanwhile, the significant growth attained by the telecommunications industry is likely to provide impetus to the market in the forecast period. This can be attributed to the rising application of petroleum jelly in cable filling compounds which eliminated the moisture in cables. The Asia Pacific region accounts for a significant share in the market owing to the rising cases of skin infections, coupled with the rising skincare awareness.
Industry Definition and Major Segments
Petroleum jelly refers to a soft, tasteless, odourless, semi-solid, and clear substance obtained from petroleum or oil. It has skin-friendly properties and is used to make ointments, creams, and dressings. Petroleum jelly has the ability to facilitate movement between two surfaces against each other. The substance is mainly utilised in industrial, pharmaceutical, and cosmetic applications.
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On the basis of grade, the market has been segmented into:
Pharmaceutical Grade
Cosmetic Grade
Industrial Grade
Based on end-user, the market has been classified into:
Telecommunications
Pharmaceuticals
Leather
Shipping
Cosmetics and Personal Care
Others
The regional markets for petroleum jelly include:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The growing R&D activities in the pharmaceutical industry aimed towards developing effective and high-quality skin ointments and skin creams are likely to be the key trends in the market. In addition to this, the growing demand for petroleum jelly creams for the treatment of eczema and psoriasis is anticipated to aid the market. The growing expansion of the e-commerce industry is likely to be a major invigorating factor as it is bolstering the sales of the product significantly. The attractive discount offers and door-step delivery facility offered by e-commerce giants will further propel the demand for petroleum jelly in the forecast period.
Key Market Players
The major players in the market are Unilever PLC, Sonneborn LLC, Raj Petro Specialities Pvt. Ltd., Brenntag SE, Eastern Petroleum Pvt. Ltd., and Shimi Taghiran,Co, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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