IMARC Group has recently released a new research study titled “White Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the white oil market?
The global white oil market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, exhibiting a growth rate (CAGR) of 3.48% during 2023-2028.
What is white oil used for?
White oil refers to the highly refined mineral oil that is obtained as a by-product in the production of sulfonates. It is typically formed upon treating paraffinic or naphthenic base oils with sulfuric acid. The process removes the natural oxidation inhibitors, nitrogen and sulfur impurities, and unsaturated, toxic, aromatic, and color-forming compounds. White oil is colorless, odorless, stable, pure, non-toxic, and chemically inert in nature. It can also be produced from numerous feedstocks, depending on processes, including the two-stage hydrotreating method.
White Oil Market Trends and Growth Drivers:
The increasing application of the product in several industrial verticals is among the key factors driving the white oil market. Moreover, the rising usage of this highly refined mineral oil in the medical and pharmaceutical sector to produce ointments and laxatives and as a carrier for curative drug formulations is also stimulating the market growth.
Besides this, the growing utilization of the product in the food industry as it is applied in egg, fruit, and vegetable coatings, food-grade lubricants and greasers, and within food packing materials is acting as another significant growth-inducing factor. Furthermore, the widespread adoption of white oil in producing plastics and elastomers, polystyrene internal lubricants, PVC external lubricants, plastic annealing, and catalyst carriers is further propelling the global market.
Apart from this, the escalating demand for this highly refined mineral oil in the cosmetics sector to manufacture topical skincare items, such as body lotions, petroleum jelly, moisturizers, cold creams, etc., as it offers lubricity, the ability to prevent moisture and chemical inertness is positively influencing the market growth.
Additionally, manufacturers are extensively investing in research and development (R&D) activities to introduce cost-efficient products, which is anticipated to fuel the white oil market over the forecasted period.
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White Oil Market 2023-2028 Competitive Analysis and Segmentation:
White Oil Key Companies:
- Bharat Petroleum Corporation Limited
- Calumet Specialty Products Partners L.P.
- China Petroleum & Chemical Corporation
- ExxonMobil Corporation
- H&R GmbH & Co. KGaA
- Nynas AB
- Petro Canada Lubricants Inc. (Hollyfrontier Corporation)
- Renkert Oil Inc.
- Royal Dutch Shell Plc
- Sasol Limited
- Savita Oil Technologies Limited
- Total SE
Key Market Segmentation:
The report has segmented the global white oil market on the basis of application and region.
Breakup by Application:
- Adhesive
- Agriculture
- Food
- Pharmaceutical
- Personal Care
- Textile
- Polymers
- Others
Breakup by Geographical Analysis:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Speak to Analyst: https://www.imarcgroup.com/request?type=report&id=3915&flag=C
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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