Global White Oil Market by Application (Agriculture, Pharmaceutical, Textile, Adhesive, Personal Care) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global white oil market was worth USD 1.3 billion. It is projected to grow at a compound annual rate (CAGR), of 3.1% between 2020 and 2027. The market is expected to grow due to rising demand from cosmetics and medical applications. White oils are usually refined mineral oils that are stable, colorless and odorless. They are non-toxic.

These properties make it highly useful in the chemical, cosmetic, and pharmaceutical industries. It is used in cosmetics as a key ingredient.

The diversity of the personal care industry is impressive and growing rapidly. This is mainly due to the presence of many cosmetic product manufacturers in Asia, including South Korea, Indonesia, India and China. Cosmetic formulators have been able to innovate and develop new products due to the increasing demand for personal care products within these countries. White oil's properties, including its lubricity and moisture barrier capabilities, as well as chemical inertness, make it a great choice for cosmetics and beauty products.

Because it is compatible with a wide range of oils, it can also be blended with coconut oil or other formulations to make shampoo products. The demand for hair care products and skin care products will rise. The product is used in many lotions, creams, laxatives, skin care products, and as a carrier drug formulation.

Technologically, there are two stages of hydrotreating and an acid treatment to Vacuum Gas Oil (VGO). Both these processes result in a thermally stable and pure base oil. Any impurities that might have a negative effect such as sulfur, aromatics or other impurities are removed. Industry leaders are more focused on process innovation to reduce production costs and increase market share.

Application Insights

Personal care products dominated the market in terms of volume with a 28.7% share in 2019. This can be attributed to the widespread use of personal care products in the formulation and application of baby oils, hair and skin products such as creams, lotions, and makeup products. To meet this growing demand, personal care product manufacturers are working hard to launch new products.

White oil can create a barrier to protect the skin from external factors, which helps in protecting against skin damage. It is widely used in the formulations of anti-aging products. This is especially true in many East and North Asian countries.

White oil is also in high demand by polymer manufacturers because it is essential as a melt flow controller and for providing release characteristics. This helps to improve the physical conditions of polymers. Many companies are working to improve their product lines for white oils in various adhesives & elastomers. These oils are used extensively for making diaper glues, toys, and other household products.

These factors will result in a significant product demand for adhesives and other elastomer products. The product plays an important role in the food industry's food product packaging and coating applications.

Regional Insights

In 2019, the Asia Pacific market was the largest and contributed more than 51% to the global revenue share. This can be attributed to the high demand for personal and pharmaceutical care products. The region's high demand for adhesives and the demand for polymers from household product makers will likely increase product demand. Due to their availability of low-cost labor and ease of regulation, countries like India, Thailand, South Korea, Indonesia, and Japan are quickly becoming important hubs for cosmetics manufacturing. This is also helping to support market growth in APAC.

Due to the rapid development of the household goods sector in North America, this product is highly sought after by the adhesive and polymers. In the U.S. and Canada, rising household product spending has resulted in an increase in polymers consumption. The high dependence of the region's population on ecommerce to purchase essentials has resulted in a higher consumption of packaging products. This led to an increase in adhesive consumption, which in turn led to a rise of product demand. A significant proportion of the European market is dominated by cosmetic and personal care products. France, Italy and Spain are the main hubs of several cosmetics-producing brands such as Loreal and Augustinus Bader.

Market Share Insights & Key Companies

With the presence of internationally recognized brands such as ExxonMobil Corporation or Petro-Canada, the market is extremely competitive. These companies have adopted structural process reforms and new product launches as a result of growing competition.

Market fragmentation will likely occur as a result of the increasing number of participants in the ecosystem. However, most multinationals have integrated their operations across the value-chain, which is a barrier to entry by new regional-level players. The market is dominated by the following players:

• ExxonMobil Corp.

• Total SA

• Honeywell, Inc.

• Eni Energy

• Repsol SA

• Sonneborn, LLC

Up Market Research published a new report titled “White Oil Market research report which is segmented by Application (Agriculture, Pharmaceutical, Textile, Adhesive, Personal Care), By Players/Companies Repsol SA, Eni Energy, Honeywell Inc, Sonneborn LLC, ExxonMobil Corp, Total SA”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global White Oil Market Report Segments:

The market is segmented by Application (Agriculture, Pharmaceutical, Textile, Adhesive, Personal Care).

White Oil Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the White Oil Market

Overview of the regional outlook of the White Oil Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The White Oil Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of White Oil Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Agriculture

                2. Pharmaceutical

                3. Textile

                4. Adhesive

                5. Personal Care

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the White Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the White Oil Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.