The
global White
Oil Market size is expected to reach USD 3.0 billion by 2030,
as per a new report by Grand View Research, Inc. It is expected to expand at a
CAGR of 4.2% from 2022 to 2030. The product demand is attributed to the
increase in the consumption of the product by various end-use industries such
as personal care and pharmaceutical.
The
personal care application segment extensively utilizes the product as a base
ingredient, lubricant, softening agent, and a key processing additive for
various personal care products mainly including cosmetics, make-up products,
lipsticks, skin care lotions, and hair care products. Multiple uses of white
oil, coupled with the growth of the personal care industry in developing
countries, are driving the product demand.
White
oil can be easily blended with other base oils and chemicals for use in
adhesive formulations. It enables the adhesive to maintain transparency for a
longer duration. Due to the performance-enhancing properties of white oil, the
consumption for the same is expected to rapidly rise in the adhesive
application segment in the next couple of years.
The
product has a wide application scope in the personal care sector. It is
primarily used as a base ingredient for manufacturing a large array of personal
care products ranging from hair care to skincare product categories. The
personal care segment is expected to drive the white oil industry demand in the
next few years owing to the increasing use of cosmetics and skincare products,
especially in developing countries such as China, India, and Brazil. However,
adhesives, agriculture, and polymers are estimated to offer significant growth
opportunities for the market over the forecast period.
List of Key Players in White Oil Market
- British
Petroleum
- Renkert Oil,
Inc.
- ExxonMobil
Corporation
- JX Nippon
Oil & Energy Corporation
- Nynas AB
- Petro-Canada
- Royal-Dutch
Shell N.V.
- Sinopec
Corporation
Related Press
Release@ White
Oil Market Report
White Oil Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2022 |
USD 2.1 billion |
|
Revenue forecast in 2030 |
USD 3.0 billion |
|
Growth rate |
CAGR of 4.2% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Historical data |
2017 - 2020 |
|
Forecast period |
2022 - 2030 |
White Oil Market Report Highlights
- The personal
care application segment accounted for the largest revenue share of more
than 25.0% in 2021. The growth is attributed to the increase in the demand
for the personal care products such as skin care lotions, make-up
products, and hair care products, which utilizes the product as their base
ingredient for manufacturing
- The
pharmaceutical application segment accounted for the second-largest
revenue share in 2021 owing to the growth of the sector post-COVID and an
increase in health awareness among people. This, in turn, drives the
demand for the product as it is utilized in the manufacturing of various
medicines
- The
adhesives application segment is anticipated to expand at the highest
revenue-based CAGR of 4.6% over the forecast period. The growth is
attributed to the increase in the requirements for white oil for the
processing of adhesives
- The product
is used for various purposes in the agriculture sector including dust
control of grain elevators, tobacco processing, crop protection, animal
fodder protection, and other horticultural applications
- Rapid
consumption of the product in the application sectors such as textile,
agriculture, and adhesives is anticipated to offer significant growth
opportunities over the forecast period
Request For A Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/3326/rfc
White Oil Market Segmentation
Grand
View Research has segmented the global white oil market based on application
and region:
White Oil Application Outlook (Volume, Kilotons; Revenue,
USD Million, 2018 - 2030)
- Adhesives
- Agriculture
- Food
- Pharmaceuticals
- Personal
Care
- Textile
- Polymers
- Others
White Oil Regional Outlook (Volume, Kilotons; Revenue,
USD Million, 2018 - 2030)
- North
America
- U.S.
- Europe
- Germany
- Russia
- Asia Pacific
- China
- India
- South Korea
- Latin
America
- Brazil
- Middle East
& Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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