Global White Oil Market Share Is Expected To Grow At A CAGR Of 4.5% By 2030

03-Mar-2023 | Facts and Factors

According to Facts and Factors, the global white oil market size was worth around USD 2.1 billion in 2022 and is predicted to grow to around USD 3.0 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.5% between 2023 and 2030.

An extremely stable, refined, and pure mineral oil, white oil is also referred to as white mineral oil. It serves as a mixed foundation for medicines and cosmetics. It is a mineral lubricant. Refineries typically produce this highly refined and adaptable class of mineral oils from paraffinic or naphthenic substrates. It is frequently used as an insecticide to control different insect pastes in gardens because of its non-toxic and chemically inert nature.

Browse the full “White Oil Market Size, Share, Growth Analysis Report By Product (Light Paraffinic, Heavy Paraffinic, and Naphthenic), By Grade (65/75 (ISO VG 10/15), 50/60 (ISO VG 7), 200/215 (ISO VG 32/46), 80/90 (ISO VG 15), and 340/365 (ISO VG 68)), By Application (Paints & Coatings, Tires & Rubbers, Personal Care, Pharmaceuticals, Textiles, Adhesives, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030" report at https://www.fnfresearch.com/white-oil-market

The expanding use of white oil across numerous sectors is the main factor driving the white oil market globally. White oil is used in the medical and pharmaceutical industries to make ointments, laxatives, and as a container for formulations of therapeutic drugs. The product is used in the culinary business as food-grade lubricants and greasers, as well as in egg, fruit, and vegetable coatings. The production of plastics and elastomers, internal and exterior lubricants for polystyrene and PVC, catalyst carriers, and plastic annealing all depend on white oil.

White oil also provides molecular inertness, lubricity, and moisture resistance. These characteristics allow it to be used in the production of topical skincare products like body lotions, petroleum jelly, moisturizers, cold creams, infant oils, and moisturizers. In addition, manufacturers are making significant investments in research and development (R&D) projects to launch products that are affordable. However, the volatility in the raw material price is expected to impede the growth of the market during the forecast period.

Segmental Analysis:

The global white oil market is segmented based on product, grade, application, and region.

Based on the product, the global market is bifurcated into light paraffinic, heavy paraffinic, and naphthenic. The naphthenic segment is anticipated to capture the highest market share over the forecast period. With a high concentration of hydrocarbons and naphthenic substances like naphthenes, hydrogenated benzenes, or cycloparaffins, naphtha is a highly refined petroleum fraction.

Most naphthenic oils are light-colored, non-staining substances with good compatibility with synthetic elastomers. They also have low viscosity, thermal stability, and solvating strength. Applications for white mineral oil in the naphthenic sector include adhesives, fluids, metalworking fluids, transformer oils, and printing inks, which are predicted to spur segment revenue growth.

Based on the grade, the global white oil industry is segmented into 65/75 (ISO VG 10/15), 50/60 (ISO VG 7), 200/215 (ISO VG 32/46), 80/90 (ISO VG 15) and 340/365 (ISO VG 68).

Based on the application, the white oil industry is bifurcated into paints & coatings, tires & rubbers, personal care, pharmaceuticals, textiles, adhesives, and others. Over the course of the forecast period, the paints and coatings segment is anticipated to increase its revenue steadily. Excess foam in the paint and coatings business extends production times and complicates packaging.

Additionally, too much foam results in flaws in the coating's end appearance. A defoaming agent like EMULTROL DFM OLM-20 can be used to reduce this issue and enable optimal control during the painting manufacturing process. A key ingredient in the creation of defoaming products is white mineral oil. In comparison to conventional mineral oils, the oil reduces odor generation and prevents the paint from yellowing, which is anticipated to lead to an increase in demand for white oil in high-end paints.

Regional Analysis:

The largest and fastest-growing market for the white oil industry is the Asia Pacific region. China is one of the largest consumers of white oil in the Asia-Pacific region. China is quickly becoming the largest market for cosmetics and hygiene products worldwide. The hairdressing industry, a branch of the cosmetics and personal care industry, makes the most important use of white oils in India.

The medicinal and general cosmetics industries account for three-fourths of the country's consumption of white oil. The third-largest cosmetics market in the globe right now is Japan. Despite Japan's aging population, the cosmetics industry is expanding because of a rise in consumer confidence and the resulting increase in demand from foreign visitors.

Report Scope

Competitive Analysis:

The global white oil market is dominated by players like Chevron Corporation, Calumet Specialty Products Partners, L.P, Royal Dutch Shell plc, Exxon Mobil Corporation, SEOJINCORP.CO.LTD., FUCHS, H&R GROUP, savita.com, Panama Petrochem Ltd., Apar Industries, C.J. Robinson Co Inc, Morris Lubricants, Petroliam Nasional Berhad, Raj Petro Specialities Pvt. Ltd., Kerax Limited, Petro-Canada Lubricants Inc., LubLine, Sonneborn LLC., Sasol LimitedJX, Nippon & Energy Exploration Corporation, among others.

Recent Development:

• In October 2022, the global brand platform for Brenntag Group business Raj Petro Specialities Pvt Ltd, "Everyday Forward," has been unveiled. It focuses on the value produced throughout the company's 80-year history and how it has affected millions of lives in more than 100 nations globally. Raj Petro has established reliable brands that offer top-notch goods and services and are adding value for significant high-growth industries. Raj Petro has also created a successful sustainable business.
• In October 2022, the Saudi Arabian Oil Company's base oil company, Luberef, opened a new plant in Yanbu for producing transformer oil and white oil, which are used in the food, pharmaceutical, and energy industries. The facility will make it possible for the Kingdom to localize these specialized goods. Producers and operators of base oil-related businesses will be drawn to the venture.

The global white oil market is segmented as follows:

By Product

• Light Paraffinic
• Heavy Paraffinic
• Naphthenic

By Grade

• 65/75 (ISO VG 10/15)
• 50/60 (ISO VG 7)
• 200/215 (ISO VG 32/46)
• 80/90 (ISO VG 15)
• 340/365 (ISO VG 68)

By Application

• Paints & Coatings
• Tires & Rubbers
• Personal Care
• Pharmaceuticals
• Textiles
• Adhesives
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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