White oil market , a highly refined mineral oil, is primarily used in applications requiring high purity levels, such as in pharmaceuticals, cosmetics, and food processing. The global demand for white oil is growing due to its use in a wide range of industries, driven by increasing consumer preferences for high-quality personal care products, pharmaceuticals, and food-grade lubricants. Its odorless, colorless, and non-reactive properties make it an ideal choice in sectors where safety and hygiene are paramount. As environmental regulations push industries towards sustainable solutions, bio-based and eco-friendly white oils are emerging as a market trend. Additionally, expanding industrial activities in regions such as Asia-Pacific are driving demand, especially in emerging economies with growing manufacturing and consumer goods sectors.
According to the research report, the global white oil market was valued at USD 2220.18 million in 2023 and is expected to reach USD 3,268.25 million by 2032, to grow at a CAGR of 4.39% during the forecast period
White Oil Market Trends
- Growing Applications in Pharmaceuticals and Cosmetics: Demand for white oil is increasing due to its usage in personal care products and medicinal formulations.
- Expanding Food-Grade Lubricant Demand: Adoption of food-safe lubricants in food processing industries drives market growth.
- Industrial Growth in Developing Economies: Rising industrial activities in Asia-Pacific and the Middle East contribute significantly to market expansion.
- Focus on Sustainability: Manufacturers are exploring eco-friendly and bio-based white oil production methods.
Key Companies in White Oil Market:
- 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.
- Castrol Limited
Growth Factors:
• Market dynamics:All the key factors and major developments anticipated to boost the growth of the market are covered in the study.
• Technological evolution:The report offers a thorough understanding of the emerging technologies that can influence the White Oil market demand.
• Innovation pathways: The study covers where innovations can take the market in the mid to long term.
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The Geographical Analysis Covers Following Key Regions:
• North America (United States, Canada, and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and the rest of South America)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
White Oil Market Segmentation:
White oil market segmentation includes grade, application, and region. Grades include pharmaceutical, cosmetic, and industrial, each tailored for specific uses. Applications span personal care, food processing, pharmaceuticals, and industrial lubricants. Regionally, the market covers North America, Europe, Asia-Pacific, and other regions, with significant growth in Asia-Pacific due to rising industrialization.
White Oil Market, Grade Outlook (Revenue – USD Million, 2019-2032)
- Technical
- Pharmaceutical
White Oil Market, Application Outlook (Revenue – USD Million, 2019-2032)
- Adhesives
- Agriculture
- Food
- Pharmaceuticals
- Personal Care
- Textile
- Polymers
- Others
Recent Developments
In October 2022, British Petroleum (BP) acquired Archaea Energy to accelerate its bioenergy transition and enhance its growth in renewable energy. The acquisition, valued at USD 3.3 billion with an additional net debt of approximately USD 800 million, will support BP’s efforts to help customers achieve their decarbonization goals and reduce carbon intensity. This move strengthens BP’s position in the bioenergy sector as part of its broader strategy to transition to a low-carbon future.
In March 2022, Supreme Petrochem’s Board approved the Phase II expansion of its Expandable Polystyrene (EPS) plant in Maharashtra. The expansion includes the development of an “Extruded Polystyrene Board” with a total capacity of 100,000 M3, alongside a 50,000 MTA increase in the capacity for Masterbatch and Compounds. This strategic expansion will enhance the company’s product offerings and support its growth in the EPS market.
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