White Oil Market, By Application (Agriculture, Personal Care, Food, Adhesives, Pharmaceutical, Polymer, Textile, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

Report Code: PMI515523 | Publish Date: September 2023 | No. of Pages: 170

White Oil Market Overview

White Oil, also known as paraffin oil and mineral oil, is a specialty refined product used in various applications, such as cosmetics and the food industry. White Oil is produced by refining and differs from food-grade vegetable oils, thus not going rancid. White Oil is used in a wide variety of applications, such as agriculture, personal care, food, adhesives, pharmaceuticals, polymers, textiles, and others, which has driven market growth.

White Oil Market Size:

Attributes

Details

White Oil Market Value (2022)

US$ 2.1Bn

White Oil Market Projected Value (2032)

US$ 3.2Bn

White Oil Market CAGR (2022 – 2032)

4.5%

White Oil Market Dynamics

White Oil Market Drivers and Restrains:

Wide Variety of Applications in Pharmaceutical and Cosmetics Industries to fuel market growth

Growing applications of White Oil in various end-user industries, such as pharmaceutical and cosmetic industries, have become a leading factor in market growth. The use of White Oil as an auxiliary material in the production of sun protection creams, lotion formulations, bath oils, makeup products, and others has given rise to market growth. White Oil use in producing animal vaccines, gelatin capsules, ointments, and laxatives has boosted demand in the pharmaceutical industry, which in turn has fueled market growth.

Growing Demand from Food Industries to fuel market growth

The rapidly growing population has given rise to the food industry, which has become another major factor in market growth. The use of White Oil as a food-grade lubricant in various food processes for the production of food and drink-based lubricating oils has powered market growth. Further, the use of lubricating oil in food production plants has minimized the potential risks to human beings and thus does not contain any hazardous material, which is likely to propel White Oil market growth.

For instance, Philips 66 White Oil is a premium food-grade mineral oil developed for the food processing industry and other applications. It also meets industrial standards of stability and purity of product and is thus certified as meeting Canadian Food Inspection Agency requirements for use in food plants.

                                                             Restrains:

However, some allergic reactions caused by White Oil such as swelling of face, chest pain, hives, vomiting, diarrhea, breathing trouble and others have hampered the market growth.

White Oil Market Segmentation

White Oil Market Segmentation:

  • White Oil Market is segmented based on Application and Region.

Application Insight

  • On the basis of Application, White Oil Market is segmented into Agriculture, Personal Care, Food, Adhesives, Pharmaceutical, Polymer, Textile, and Others. Personal Care application segment is expected to dominate the target market growth. Growing demand for personal care products including skin care, cosmetics, hair oil, shampoos, moisturizers, body lotion, creams and others has boost the segment growth.

White Oil Market Regional Insights:

On region the White Oil Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

  • Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period due to emerging pharmaceutical industries and demand for White Oil product. Rapid growth in urbanization, growing economic status, rising demand for personal care products, rising investment in research & development activities to launch new product is anticipated to increase the demand for White Oil in the region.
  • Middle East and Africa market is estimated to witness a fastest revenue share over the forecast period due to growing pharmaceutical industries. Further, rising healthcare expenditure, increased government support especially in Saudi Arabia has boost the market growth in the region.

White Oil Market Report Scope:

Attribute

Details

Base year for estimation

2022

Forecast period

2022 – 2032

Market representation

Revenue in USD Billion & CAGR from 2022 to 2032

Market Segmentation

By Application - Agriculture, Personal Care, Food, Adhesives, Pharmaceutical, Polymer, Textile, and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032.

White Oil Market Key Players

White Oil Market Key Players:

The key players operating the White Oil Market includes, Renkert Oil Inc., British Petroleum, Nynas AB, BASF SE, ExxonMobil Corporation, Petro-Canada, JX Nippon Oil & Energy Corporation, Sinopec Corporation, Royal-Dutch Shell N.V., Sasol, and Others.

White Oil Market Key Issues Addressed

The New Launched Product News,

  • In October 2022, the base oil firm of Saudi Arabian Oil Co., Luberef launched new specialty base oil production facility ‘Lube Hub’ in Yanbu which will manufacture White Oil and transformer oil in food, pharmaceutical and power generation sector.

White Oil Market Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings—Global Outlook for medical carts Strategies
    • Key Questions this Study will Answer
    • Market Snippet, By Application
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Agriculture
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Personal Care
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Food
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Adhesives
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Pharmaceutical
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Polymer
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Textile
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • Renkert Oil Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • British Petroleum
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Nynas AB
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • BASF SE
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ExxonMobil Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Petro-Canada
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • JX Nippon Oil & Energy Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sinopec Corporation
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Royal-Dutch Shell N.V.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sasol
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

The White Oil Market is segmented into Application and Region.

White Oil Market is driven by factors like wide variety of applications in pharmaceutical and cosmetics industries and growing demand from food industries.

By region, the White Oil Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market is estimated to witness a significantly high revenue share over the forecast period.

The key players operating the White Oil Market includes, Renkert Oil Inc., British Petroleum, Nynas AB, BASF SE, ExxonMobil Corporation, Petro-Canada, JX Nippon Oil & Energy Corporation, Sinopec Corporation, Royal-Dutch Shell N.V., Sasol, and Others.

White Oil Market accounted for US$ 2.1 billion in 2022 and is estimated to be US$ 3.2 billion by 2032 and is anticipated to register a CAGR of 4.5%.