White Oil market COVID-19 Impact, Trends & Business Statistics By 2030Posted by Mrudula Karmarkar on December 6th, 2022 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. The demand for the product is anticipated to be driven by the increased demand for the product in the personal care and pharmaceutical industries. Globally, rising product demand from medicinal and cosmetics applications is expected to be a major driver in the market. White oils are mineral oils that have been purified to be pure, stable, colorless, odorless, and non-toxic. The product is a highly refined and colorless mineral oil made from the paraffinic crude feedstock. It has a variety of performance characteristics, including good hydrophobicity, low odor and taste, and bio-stability, making it suitable for a wide range of applications. The product also has a low aromatic and Sulphur content, making it ideal for blending with other oils to improve end-product finishing. The main product grades of the product accessible on the global market are technical, food, and medical. The product is manufactured from the refining of paraffinic and naphthenic crude oil feedstock and can be processed from natural gas by gas to liquid conversion technology. Royal Dutch Shell N.V. manufactures white oil from natural gas through the use of the Fischer-Tropsch process that converts natural gas to highly purified white oils with low aromatic hydrocarbon content. Volatile raw material prices, coupled with geophysical and political conflicts among key oil trading regions, are expected to affect the overall supply-demand scenario in the future. This, in turn, is anticipated to adversely influence the production and consumption of the product in the global market during the next few years. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/white-oil-market/request/rs1 A positive outlook toward the growth of the personal care, pharmaceutical, food, and polymer processing sectors has resulted in boosting the demand for the product in various developing and developed regions. Furthermore, rapidly mounting demand for the product in the agriculture, adhesives, and textile application markets are projected to be another significant factor supporting the growth of the market during the forecast period. Although the tight supply of raw materials, coupled with a drop in their prices, might hinder the market growth, a technological breakthrough is likely to contribute to the firm growth of the industry over the next couple of years. White Oil Market Report Highlights
The market for white oil is highly competitive with the big international brands focusing on the development of a long-term relationship with the end-users. With the further growth in the personal care and pharmaceuticals sectors, the competition is anticipated to increase in the coming years. Companies such as Exxon Mobil Corporation, British Petroleum, and Sinopec Corporation have a high degree of integration across the value chain as they are also engaged in the production of the product. These companies have established themselves as key manufacturers and they focus on research and development for novel uses of the product. Some prominent players in the global white oil market include:
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