Global White Oil Market By Application , By Product Type , By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

White Oil Market Overview:

The global white oil market was worth USD 2,100 million in 2021. It is projected to grow at a compound annual rate of 4.5% between 2023 and 2032.

The increased demand in the personal and pharmaceutical sectors is expected to drive the demand for products. The market is expected to grow due to the rising product demand in the medicinal and cosmetics industry. White oils are pure, stable, colorless, and odorless mineral oils that have been filtered to make them non-toxic.

Global White Oil Market Scope:

Application Analysis

With a market share of more than 25.6%, the personal care segment dominated in 2021. This can be attributed to an increase in personal care product demand due to increased health awareness. White oil is used as both a base ingredient as well as an emollient in the production of personal care products. It is widely used in the manufacture of many personal care products, including cosmetics, skin creams and moisturizers, baby items, body oils, hair oils, shampoos, and fragrances.

It is a softening agent, emollient, or chemical contact inhibitor that exhibits inertness to other chemicals. The product’s excellent hydrophobicity makes it ideal for making water-resistant creams. Royal Dutch Shell N.V. produces and distributes Ondina X (a medicinal-grade, white oil) for personal care industries due to its exceptional binding properties.

Over the forecast period, adhesives will experience the highest revenue-based CAGR at 4.6%. This is due to an increase in the demand for white oil as a diluent for hot melt and pressure-sensitive adhesives. White oil is compatible with the skin and induces transparency. It also maintains the color stability required to achieve the desired adhesive production yield.

White oil’s performance characteristics are expected to increase white oil consumption in agriculture. White oil has no odor or taste and can be applied directly to grains to prevent dust from forming. White oil can also be blended with crop protection chemicals, or other oils to make an insecticide or protective liquid spray for plants.

Product Type Analysis

The light paraffinic segment, by product type, is expected to dominate the global white oil market. It is projected to have a relatively higher growth rate than the other segments and a CAGR in excess of 3.9% over the forecast period.
Due to favorable regulatory conditions, the naphthenic segment will also be expected to have a dominant market share in terms of demand. Volume-wise, the naphthenic and heavy paraffinic segments are still ahead.

Key Market Segments:

By Application:

• Adhesives
• Agriculture
• Food
• Pharmaceutical
• Personal Care
• Textile
• Polymers
• Other Applications

Product Type:

• Light Paraffinic
• Heavy Paraffinic
• Naphthenic

Market Dynamics:

This product is an extremely refined, neutral mineral oil that has been made from paraffinic crude. It is versatile in performance, with high hydrophobicity and low aroma and taste. This makes it ideal for many applications. It also has low Sulphur and aromatic content which makes it idyllic for mixing with further oils to enhance the final product. The product is available in three key product grades: technical, medical, and food.

This product is made from the refinement of naphthenic and paraffinic crude oil feedstocks. It can also be converted from fossil gas using gas to a fluid procedure. Royal Dutch Shell N.V. produces white oil out of natural gases using the Fischer-Tropsch method. This transforms fossil gas into highly refined white oils with low amounts of aromatic hydrocarbons.

The future supply-demand balance will be affected by volatile raw materials prices and geophysical and political conflict among key oil trading areas. In turn, this is expected to negatively impact production and consumption in the global market over the next few years.

The positive outlook for growth in the personal care, pharmaceutical, and food processing sectors has led to a rise in demand in both developed and developing regions. The market is expected to grow due to the increasing demand in agriculture, adhesives, and textile applications. A technological breakthrough will likely contribute to the industry’s steady growth over the next few years, even though there is a limited supply of raw materials and a decline in their prices.

This product is used to produce pharmaceutical products, including emollients and internal lubricants. White oil is chemically stable and has excellent antibacterial properties when combined with other synthetic products. Because of its exceptional mixing capabilities, white oil is used in many medicinal applications. The product’s excellent mixing properties mean that the demand is expected to increase in the future as the pharmaceutical industry expands.

Regional Analysis

With a market share of over 51.1%, the Asia Pacific region was the dominant region in 2021. This is due to increased demand from the regional pharmaceutical industry. The growth of the pharmaceutical industry is mainly due to increased purchasing power, rising affordability, and increasing awareness among consumers. The industry spends a lot on R&D and is constantly developing new products. These products are priced to appeal to different levels of consumers.

Over the forecast period, Africa and the Middle East are expected to experience a substantial revenue-based CAGR of 4.12% This is due to the expansion of the regional pharmaceutical industry. Market growth is expected to be positive due to the growth of the Middle East’s pharmaceutical industry, particularly in Saudi Arabia. This is due to rising health spending and government support.

The industry will see an increase in the use of the product as a grease-free lubricant in many industries, including food, bakery, and textile. The upcoming years will see a rise in demand for fast-food and bakery items in North America. This is due to changing lifestyles and increased demand for products for handling dough and food-handling machinery lubrication. North American market growth is expected to be driven by the expansion of the pharmaceutical industry. Market growth will be aided by the U.S.’s growing pharmaceutical industry as a result.

Key Regions and Countries Covered іn thе Rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

White oil is highly competitive, with big international brands placing great emphasis on building long-term relationships with end-users. The competition will increase with the continued growth of the pharmaceuticals and personal care sectors.

British Petroleum Corporation, Sinopec Corporation, and Exxon Mobil Corporation all have high levels of integration throughout the value chain, as they also participate in the production process. These companies are well-known for being key producers and focus on the development of new uses for the product. The following are some of the most prominent players in global white oil markets:

Market Key Players:

• Apar Industries Limited
• British Petroleum
• Bharat Petroleum Corporation Limited
• China Petroleum & Chemical Corporation
• Calumet Specialty Products Partners
• Chevron Corporation
• Columbia Petro Chem Pvt. Ltd.
• Seo-jin Chemical Co. Ltd.
• H&R GmbH & Co KGaA
• Hollyfrontier Corporation
• Renkert Oil, Inc.
• ExxonMobil Corporation
• JX Nippon Oil & Energy Corporation
• Morris Lubricants
• Nynas AB
• Petro-Canada Lubricants Inc. (Hollyfrontier Corporation)
• Panama Petrochem Ltd.
• Royal Dutch Shell Plc
• Savita Oil Technologies Limited and Total SE
• Sinopec Corporation
• Sasol Limited
• Sonneborn Inc.
• Other Key Players

For the White Oil Market research study, the following years have been considered to estimate the market size: