White Oil Market

White Oil Market to grow at 2.5% CAGR till 2024:
Global Market Insights Inc.
White Oil Market to exceed USD 6 billion by 2024; according to a new research
report by Global Market Insights, Inc. Increasing product innovations in the personal
care industry along with the enhancement of cosmetics quality across the globe have
resulted in an increasing demand for white oil-based products. Benefits such as skin
compatibility, low irritant, and resistance to bacteria and other unwanted elements
are projected to boost the white oil market growth. Increasing demand for durable,
pure, and sustainable lotions, oils, emollients, and creams has improved the industry
development.
High application potential in plastic & polymer industry, particularly in synthetic
aromatic polymer applications including polystyrene (PS) will propel the white oil
market growth. The product is also significantly used in manufacturing PVC, LDPE,
and TPE. The high product usage as gear lubricants and hydraulic fluids in industrial
applications including machinery, compressors, and tanks will boost industry share.
White Oil Market
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White oils are used in several laxatives, ointments, and excipients under the
pharmaceutical industry. Increasing consumption for the treatment of bee mites is
expected to provide a positive outlook for product demand. Increased use of highgrade
white oil in aromatherapy and the production of biomedicines, gelatin
capsules, ointment and lotions are projected to provide new opportunities for the
market growth in the specified time frame.
Fluctuating crude oil prices due to political and economic uncertainties may impact
the product price trends. Geopolitical events often result in supply disruption, output
loss, and incompetency in market functioning might restrain the white oil market
growth.
Personal care & cosmetic applications registered more than USD 1.5 billion revenue
in 2017. White oil provides superior smoothness, resistance to moisture and
exceptional lubricity when used as a base material in skin creams, lotions, baby oil &
massage. Increasing consumption of these personal care products will drive the
product demand.
Food industry will capture more than 6% revenue white oil market share by 2024.
The product has strong application scope in processing, release agents, packaging
and food grade lubes. Moreover, approval from regulatory organizations such as
FDA for use in applications that require indirect and direct contact with food will
augment business growth over the forecast timeline.
North America White Oil Market, By Application, 2017 & 2024 (USD Million)
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Browse key industry insights spread across 208 pages with 182 market data tables &
16 figures & charts from the report, “White Oil Market Size By Application
(Plastics & Polymers, Pharmaceuticals, Personal Care & Cosmetics, Food
Industry, Textile), Regional Outlook (U.S., Canada, Germany, UK, France,
Russia, China, India, Taiwan, South Korea, Brazil, Saudi Arabia, UAE, South
Africa), Growth Potential, Price Trend, Competitive Market Share & Forecast,
2018 – 2024” in detail along with the table of contents:
https://bit.ly/2owZFWo
Plastic and polymer application reported over USD 750 million revenue share in
2017. High purity, low volatility and the paraffinic base of the product make it ideal for
plastic applications. The rising demand for mould release agents and extrusion aids
in plastic manufacturing will supplement product adoption rate.
North America white oil market will witness growth over 2.5% CAGR from 2018 to
2024. The presence of key manufacturing companies such as Exxon Mobil,
Sonneborn, and Chevron Corporation will drive regional growth. These players have
implemented capacity expansion strategy to meet high demand from end-use
industries such as cosmetics & personal care, plastic & polymers and
pharmaceuticals, thereby fostering product penetration.
Asia Pacific market registered more than USD 2.5 billion in terms of revenue in
2017. High product adoption rate in agricultural, textile, plastic and food processing
industries will foster business growth. Furthermore, the transformation of the region
into a manufacturing hub owing to favorable FDI policies will create lucrative
opportunities for industry participants.
The global white oil market is moderately fragmented in nature due to the presence
of several multinational companies and regional manufacturers. Key industry players
include Sinopec Corporation, Exxon Mobile, Chevron, Sonneborn, JX Nippon, Royal
Dutch Shell., British Petroleum and Sasol. Numerous companies are involved in
partnerships, collaborations, mergers & acquisition, product innovation and portfolio
expansion to enhance their industry footprint. For instance, in 2018, FUCHS
PETROLUB acquired Chevron’s white oils and food machinery specialty lubricant
business to enhance their product offerings to food lubricant customers.
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Industry Coverage
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
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reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
reports are designed via a proprietary research methodology and are available for
key industries such as chemicals, advanced materials, technology, renewable
energy and biotechnology.
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