New York, NY, April 24, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “White Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Adhesives, Agriculture, Food, Pharmaceuticals, Personal Care, Textile, Polymers, Others); By Grade; By Region; Segment Forecast, 2023-2032” in its research database.
“According to the latest research analysis, the global white oil market size/share is anticipated to be valued at approximately USD 2,131.92 million in 2022 and is projected to hit a revenue of around USD 3,268.25 Million By 2032, at a CAGR of around 4.39% between 2023 and 2032.”
What is White Oil? How Big Is White Oil Market Size & Share?
- Overview
White oil is an extremely strained oil that is tasteless, colorless, and odorless. It is particularly strained to get the overhead degree of clarity for their usage in those administrations needing unmediated food contact. The rapidly rising demand for the white oil market can be attributed to its increasing usage in the fabrication of pharmaceutical and cosmetic concoctions such as complexion creams, ointments, laxatives, hair products, baby oils, and as bearers in the solution of several therapeutic drugs.
The demand for the product is expected to be propelled by the growing demand for the product in the pharmaceutical and personal care industries. Worldwide growing product demand from therapeutic corrective applications is anticipated to be a prominent driver in the market. White oils are mineral oils that have been clarified to be unadulterated, steady, odorless, colorless, and non-toxic.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Players in the Global Market Are:
- British Petroleum
- Renkert Oil
- JX Nippon Oil
- Nynas AB
- Sinopec Corporation
- ExxonMobil Corporation
- Petro-Canada
- Calumet Specialty
- Atlantic Oil
- Sonneborn
- H and R Group
- Chevron Corporation
- Adinath Chemicals
- Eastman Chemical
- Royal Dutch Shell
- Savita Oil
- Castrol Limited
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Prominent Growth Driving Factors
- Low taste and odor: The product is extremely strained and colorless mineral oil fabricated from the paraffinic feedstock. White oil market size is expanding as it has a diversity of execution features, including adequate hydrophobicity, rock-bottom taste and odor, and biostability rendering it appropriate for the broad gamut of supplication.
- Liquid transformation technology: The product is fabricated from the straining of paraffinic and naphthenic crude oil feedstock and can be prepared from natural gas by gas to liquid transformation technology. Royal Dutch Shell N.V. makes white oil from natural gas past the usage of the Fischer-Tropsch process that transforms natural gas into extremely clarified white oil with rock-bottom fragrant hydrocarbon content.
- Growing demand for the product in agriculture: Speedily ascending demand for the product in agriculture, textile applications, and the adhesive market is anticipated to be another notable factor reinforcing the market growth during the forecast period. White oil market sales are soaring due to an affirmative point of view toward the development of personal care, food, pharmaceutical, and polymer refining zones.
- Adequate antibacterial caliber: The usage of the product is not limited to internal lubricants, emollients, laxatives, and ointments as inclusion and as rudimentary material. When merged with alternative synthetic goods, white oil has the adequate antibacterial caliber and is chemically steady.
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Top Report Findings
- Adequate hydrophobicity, rock-bottom taste and odor, and biostability drive the market's growth.
- The market is essentially divided into application, grade, and region.
- The leading region of the market in Asia Pacific
Top Trends Influencing the Market
Development in pharmaceutical and personal care: The development of the product for a variety of end-use industries involving pharmaceutical and personal care and its elevated existence amidst medicinal and cosmetic applications together with growing consumer consciousness in context to several advantages such as good hydrophobicity, bio-stability, low odor, and taste are the foremost factors impacting the global market growth.
Lessening greenhouse gas emissions: In January 2023, ExxonMobil declared that their partner, "Imperial Oil," will fund over USD 560 million to structure Canada's world's biggest diesel production potential. In this project, the impending firm potential is expected to make around 20,000 barrels of renewable diesel daily, predominantly from narrowly stockpiled validated feedstock-assisted lessening greenhouse emissions.
Alterations in consumer lifestyles: Additionally, alterations in consumer lifestyles and substantial escalation in consumer per capita income, particularly in upcoming economies such as China and India, together with accelerating advancement of several versatile personal care components, are doubtless to achieve notable adherence and drive the market growth ahead.
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Segmental analysis
- The personal care segment accounted for the highest market share
Based on application, the personal care segment accounted for the highest market share. White oil market demand is on the rise as there is a speedy escalation in requirement and demand for several personal care commodities globally due to growing consciousness concerning health and wellbeing. White oil is broadly utilized as a prominent foundation element and emollient while filtering personal care products.
- The technical grade segment is anticipated to witness the fastest growth
Based on grade, the technical grade segment is expected to witness the fastest growth during the forecast period. White oil market trends include extensive usage in several industrial-grade solicitations due to its features, such as colorless and odorless paraffinic minerals. It is being excessively engaged in lubricants in the textile industry and paper making, as a process oil in the food sector, and several other supplications, which will generate notable growth alternatives for the segment market in the coming years.
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White Oil Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 3,268.25 Million |
| Market size value in 2023 | USD 2,220.18 Million |
| Expected CAGR Growth | 4.39% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | British Petroleum, Renkert Oil Inc., JX Nippon Oil & Energy Corporation, Nynas AB, Sinopec Corporation, ExxonMobil Corporation, Petro-Canada, Calumet Specialty Products Partners, Atlantic Oil, Sonneborn LLC, H and R Group, Chevron Corporation, Adinath Chemicals, Eastman Chemical Company, Royal Dutch Shell Plc, Savita Oil Technologies Ltd., and Castrol Limited. |
| Segments Covered | By Application, By Grade, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
Asia Pacific: The region held the largest white oil market share due to its speedy growth in the pharmaceutical industry, growing consumer buying potential, and increasing consciousness amidst consumers in the context of the advantages of white oil in their skin and body. Additionally, the magnanimous appearance of prominent industry contenders and manufacturing prerequisites in the region.
Middle East and Africa: Growing government reinforcement and escalating healthcare expenses, particularly in countries such as Saudi Arabia, Israel, and South Africa. Increasing demand for fast food and several bakery products because of alterations in end-user way of life and uncomplicated obtainability of products linked with white oil is generating massive product demand and supplementing the development during the forecast period.
Browse the Detail Report “White Oil Market Share, Size, Trends, Industry Analysis Report, By Application (Adhesives, Agriculture, Food, Pharmaceuticals, Personal Care, Textile, Polymers, Others); By Grade; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/white-oil-market
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Recent Developments
- In October 2022, British Petroleum acquired Archaea Energy, accelerating the company’s bioenergy transition growth engine. The agreed acquisition will be for a cash consideration of USD 3.3 billion and around a net debt of USD 800 million. With this acquisition, the company will support the customer's decarbonization goals and reduce carbon intensity.
- In March 2022, the Board of Supreme Petrochem announced the approval for its Phase II expansion of the Expandable Polystyrene plant located in Maharashtra. Board has further approved the “Extruded Polystyrene Board” with a total capacity of 1,00,000 M3 & increasing the capacity of Masterbatch & Compounds by 50,000 MTA.
FAQs
- Who are the key companies in the market?
- What is the CAGR estimated to be calculated for the market?
- What key segments are covered?
- What are the key driving factors in the market?
- What will be the market value estimated by the end of 2032?
- How big is the market?
- What is the current market growth?
Polaris Market Research has segmented the White Oil market report based on application, grade, and region:
By Application Outlook
- Adhesives
- Agriculture
- Food
- Pharmaceuticals
- Personal Care
- Textile
- Polymers
- Others
By Grade Outlook
- Technical
- Pharmaceutical
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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