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The key highlights of the report include:
Market Overview (2016-2020)
• Historical Market Size (2020): USD 1.37 billion
• Forecast CAGR (2021-2026): 3%
White oil refers to a mineral lubricant used as a blending base in a variety of pharmaceutical and cosmetic products. The rising demand for the product applications including personal care cream, lotions, and laxatives has improved product utilisation in the market. These products are generally recognised as a highly refined grade specially manufactured from base lubricants comprising of saturated paraffinic and cycloparaffin hydrocarbons. The refinement process, which ensures the complete removal of the aromatics, nitrogen, and sulphur compound. The ingredients have industrial usage in the polystyrene manufacturing, food packaging and processing of machinery and equipment. Technological advancements are continuously improvising the characteristics of white oil, providing new opportunities for the various applications in various industries. The ingredient act as a mould release, wetting agents and resin catalyst carriers for varied applications supporting market growth.
White Oil: Industry Definition and Segments
White oils are basically highly refined oils made up of paraffinic or naphthenic base stocks. They are colourless, odourless mineral or synthetic oils that are utilised in a spread of applications. White oils are chemically and biologically stable. It does not allow pathogenic bacterial growth which makes it a typical staple in numerous industry verticals.
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White oil market, on the basis of grade, can be divided into:
• Industrial Grade
• Pharmaceutical Grade
On the basis of product type, the market can be segmented into:
• Light Paraffinic
• Heavy Paraffinic
White oil finds wide applications in the following sectors:
• Personal Care and Cosmetic
• Food and Beverage
The regional markets for white oil can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Increasing application scope within the numerous industries including care, pharmaceutical and textile industry is predicted to fuel the white oil market growth. Benefits like exceptional skin compatibility, low irritancy, low environmental impact, and resistance to bacteria and other unwanted elements makes the ingredient essential for private care applications. Cosmetic industry growth due to the increasing specialise in skin care and nourishing products for hair styling, colouring products, and suntan products fostering the industry share. White oil has become an important ingredient in varied applications including cosmetics and private care. Surging demand for sunscreens, lotion, cleansers, emollient, and makeup products with long durability moisturising benefits will boost the white oil demand. Also, infant skin care products including lotions and emollients will propel the white oil market outlook.
The implementation of innovative technologies and increase within the adoption of group II base oil by various manufacturers has positively impacted the worldwide white oil market share. the merchandise also has application within the processing of elastomers and specialty adhesives due to their moisture and water resistance properties. Extensive usage within the processing of the polystyrene, thermoplastic elastomers, and polyolefins, owing to its excellent chemically stable advantages will benefit the market growth. This mineral lubricant controls the melt flow behaviour of several finished products with the assistance of its natural release properties.
Key Market Players:
The major players in the market are Exxon Mobil Corporation, Royal Dutch Shell plc., Bharat Petroleum Corporation Limited, Sonneborn LLC, Sasol LTD, Petro-Canada Lubricants, Panama Petrochem Ltd., and Apar Industries Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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