The new report by Expert Market Research titled, ‘Global White Oil Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global white oil market, assessing the market based on its segments like grade, product type, applications, 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 (2016-2026)
- Historical Market Size (2020):
- Forecast CAGR (2021-2026):
Forecast Market Size (2026):
Regionally, Asia-Pacific is leading the growth for white oil. Sub-regionally, under Asia-Pacific, China comprises of biggest share of consumers for the same due to its growth as a lucrative marketplace for cosmetics and skincare products. In India, as much as three fourth of white oil consumption goes into cosmetics and pharmaceutical industries and its massive application lies in hairdressing, which is a part of cosmetic industry. Japan is the third largest cosmetic industry and only increasing with augmenting demand from visiting tourists and others in the region for its cosmetic products, which is creating a space for heavy production of Japan-made cosmetics within the country itself. This will further drive the market for white oil in the region. Its property of being water-resistant is useful in additional places like textiles, plastic polymers, cosmetics, pharmaceuticals, and adhesives. Summing up, growing demand from different industries will strengthen the desirability of white oil across.
Industry Definition and Major Segments
White oils are highly refined oils manufactured from traditional paraffinic or naphthenic base stocks. They are synthetic oils which are pure, colourless, odourless and tasteless and utilized in providing lubrication needs of different industries like food, pharmaceutical and cosmetic. White oils are chemically and biologically stable, and it prevents pathogenic bacterial growth. They can additionally be used in production of perfumes, cosmetics, and pesticides.
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On the basis of grade, white oil is divided into:
- Industrial Grade
- Pharmaceutical Grade
Depending upon product type, it can be distinguished as:
- Light Paraffinic
- Heavy Paraffinic
- Naphthenic
The application of white oil involves:
- Personal Care and Cosmetic
- Pharmaceutical
- Adhesive
- Textile
- Polymers
- Agriculture
- Food and Beverage
- Others
The EMR report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
White oils have strong moisture-resistant property which makes it highly desirable in the cosmetic industry and is therefore used as a base oil in a variety of products from hail oils, hair creams, makeup products, facial creams to body lotions. The beauty and personal care products are very sought after in recent times and people are massively investing time and money in their personal care. This increasing demand for beauty products will consequently reinforce the market for white oils. Usage of white oils in the pharmaceutical industry in making ointments, emollients, eye lubricants and pencillin is also working as a catalyst for boosting its demand. The water-resistant property of white oils gives way to a range of applications. In different chemical processes and formulations, it is used to provide smoothness, lubrication, and softness. This property also paves its way in manufacturing of adhesives and elastomers. Being certified for its application in food products by halal and kosher certification, white oil demand will see a boom across different regions.
Key Market Players
The major players in the market are Exxon Mobil Corporation, Royal Dutch Shell plc., Bharat Petroleum Corporation Limited, Sonneborn LLC, Sasol LTD, Petro-Canada Lubricants, Panama Petrochem Ltd., Apar Industries Ltd., 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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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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