According to the latest report by IMARC Group, titled “White Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global white oil market size reached US$ 2.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.4 Billion by 2027, exhibiting a growth rate (CAGR) of 3.26% during 2022-2027.
Market Outlook:
White oil represents a highly refined mineral oil derived from the production of sulfonates as a by-product. It is typically formed upon treating paraffinic or naphthenic base oils with sulfuric acid. This removes the natural oxidation inhibitors, toxic, unsaturated, aromatic, and color-forming compounds, nitrogen and sulfur impurities, etc. White oil is colorless, odorless, pure, non-toxic, stable, and chemically inert in nature. Owing to this, this oil finds extensive applications across several industries, including agriculture, food, pharmaceutical, personal care, textile, etc.
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Market Trends and Growth Drivers:
The growing applications of white oil across diverse industrial verticals are primarily driving the global market. For instance, white oil is being increasingly used to produce laxatives and ointments and as a carrier for curative drug formulations in the medical and pharmaceutical industries. Apart from this, it is also gaining traction in the food industry for producing egg, fruit, and vegetable coatings, food packing materials, food-grade lubricants and greasers, etc.
Additionally, due to white oil’s excellent lubricity, ability to prevent moisture, chemical inertness, etc., it is used as an essential ingredient in the cosmetics industry for manufacturing topical skincare products, such as body lotions, creams, etc. Besides this, the escalating product utilization in the manufacturing of plastics and elastomers, PVC external lubricants, polystyrene internal lubricants, etc., will further continue to positively impact the white oil market growth in the coming years.
White Oil Market 2022-2027 Competitive Analysis and Segmentation:
List of Key Companies Covered in this Market Report:
- Bharat Petroleum Corporation Limited
- Calumet Specialty Products Partners L.P.
- China Petroleum & Chemical Corporation
- ExxonMobil Corporation
- H&R GmbH & Co. KGaA
- Nynas AB
- Petro?Canada Lubricants Inc. (Hollyfrontier Corporation)
- Renkert Oil Inc.
- Royal Dutch Shell Plc
- Sasol Limited
- Savita Oil Technologies Limited
- Total SE
Key Market Segmentation:
The report has segmented the global white oil market on the basis of application and region.
Based on Application:
- Adhesive
- Agriculture
- Food
- Pharmaceutical
- Personal Care
- Textile
- Polymers
- Others
Geographical Analysis:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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