Report Overview

Global White Oil Market Size - Industry Trends & Outlook Report 2027

Global White Oil Market is estimated to be USD 1.55 Billion by 2027 from USD 1.23 Billion in 2020, at a CAGR of 3.40% from 2020 to 2027. Increasing demand for personal care products, combined with the expanding personal care and medical industry around the globe, has directed a rise in demand for white oils. Increasing demand from the cosmetic industry due to the substantial moisture-resistant property of white oils is likely to push the market too during the estimated period. White oils are also extensively used in the manufacturing of specialty adhesives and elastomers due to their water- and moisture-resistant properties, which is also likely to fuel the global white oil market's growth. Conversely, shifting oil prices have hindered the expansion of the white oil market significantly and are acting as a principal limit for the white oil market.

White oils are a vital part of many cosmetic formulations. They are usually used in almost all cosmetic and personal care products, from emulsions to anhydrous cosmetics, such as lip balm, creams, baby oil, skincare, haircare, lotions, and emollients.

Global White Oil Market: Market Outlook and Trends

White oil is an essential product used in the cosmetics, chemical, pharmaceutical, and food processing industries. White oils are usually known as a class of highly refined and versatile mineral oils and are generally formed from paraffinic or naphthenic base-stocks from the refineries. The primary chemical configuration of white oils includes saturated aliphatic hydrocarbons and alicyclic nonpolar, which are odorless, tasteless, chemically inert, colorless, and biologically stable. White oils have brilliant storage life, and they also do not change color over time.

Global White Oil Market 

Growth Drivers

Technological Advancement

Technological advancement constantly inventing white oil features, providing new chances for many uses in many industries. The execution of advanced technologies and surge in the acceptance of group II base oil by many manufacturers has impacted the worldwide white oil market share. Lubrication experts extensively use them as both synthetic and mineral-based lubricants in their plants. The product is also used to treat elastomers and specialty adhesives due to its dampness and water resistance properties.

Growth in the cosmetics and personal care industry

Increasing application possibility in many industries, including personal care, pharmaceutical, and textile industry is anticipated to fuel the white oil market growth. Welfares such as extraordinary skin compatibility, low irritancy, low environmental impact, and struggle with bacteria and other unwanted elements make the ingredient vital for personal care uses.

Cosmetic industry growth due to the growing focus on skincare and nutritious products for coloring products, hair styling, and sun-tan products fostering the industry share. White oil has become an essential constituent in different applications, including cosmetics and personal care. Rising demand for sunscreens, body lotion, cleansers, emollient, and makeup products with long sturdiness moisturizing benefits will boost the white oil request. Also, infant skincare products like lotions and emollients will push the white oil market outlook.

Restraint

Fluctuating prices of crude oil

Factors such as extreme costs concerning the research of personal care products, lack of high-quality crude lubricant, price instability, and uncertainty in prices may confine the white oil market growth.

Impact of COVID-19 in industry

COVID-19 has impacted the market adversely. The weaker consumer request for lifestyle and well-being products due to the obligation of lockdown and social limits will damage the demand for cosmetics and automotive part production. The COVID-19 pandemic has crippled many industries, along with Personal care Industries. The movement will likely stop due to the obligation of lockdown and social distancing. Work will stop owing to the supply chain disturbance, the expiry of contracts to control expenses, and the lack of subcontractors and materials. However, the ease in limits and the government creativities to start the economic actions in the consumer goods market creates hope for the pending recovery of the market.

Global White Oil Market: Segmentation

Based on Application, the personal care sector is varied in nature. It is rising at a steady rate, largely attributed to the high focus of several cosmetic product manufacturers across Asian countries, such as India, China, Indonesia, Japan, and South Korea. Growing demand for personal care products in these countries has helped the cosmetic formulators towards invention and new product growth. Properties of white oil, such as moisture barrier abilities, lubricity, and chemical inertness, enable its utilization in cosmetics and beauty products.

Geographically, the Global White Oil Market has been divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Global White Oil Market: Regional Insights

The Asia Pacific region is likely to see a significant request for white oil due to an increased ingesting of white oils and their byproducts. The personal care and medical industries in APAC are overgrowing. APAC has also shown an amplified request for cosmetics and personal care products, which has faster the intake of white oils in the region over time. APAC is anticipated to control the market for white oils with a healthy CAGR during the forecast period. North America is the additional largest region in terms of production and ingesting white oil globally. An increase in the use of the white oil market in North America is anticipated to be significant during the forecast period due to vital demand from the food, cosmetics, and chemical industries. The white oil market in Europe is expected to expand consistently during the forecast period. Economic and industrial growth in the Middle East & Africa, coupled with the rising demand for polymers and specialty chemicals in the area are projected to push the white oil market throughout the forecast period. The Latin American white oil market is likely to enlarge at a sluggish speed during the prediction period.

Competitive landscape

The leading players in the White Oil Market include ExxonMobil Fuels & Lubricants, Sonneborn, Chevron Corporation, BP, Royal Dutch Shell, Sinopec Corporation, Sasol, Renkert Oil, JX Nippon Oil & Energy Corporation, Suncor Energy, Nynas AB, Seojin Chemical, Lubline, Total SA, Apar Industries Limited, Panama Petrochem Limited, Savita Chemicals, Eastern Petroleum Private Limited, BASF, Hainan Handi Sunshine Petrochemical, Farabi Petrochemicals, Calumet, H&R AG, and other prominent players.

Recent Developments

·         27 May 2020, London – ExxonMobil is introducing Mobilgard™ 540 X, the latest addition to its advanced MobilGard™ cylinder oil range. The lubricant is specifically formulated for use with both 0.10% and 0.50% sulphur fuels and liquefied natural gas (LNG) and will be available from June 2020. Mobilgard 540 X is designed to meet the advanced cleanliness and protection needs of newer engine designs and meets WinGD’s requirements for all three fuel types.

·         Aug 26, 2020,Shell announced a final investment decision taken by the Libra Consortium, operated by Petrobras, to contract the Mero-3 floating production, storage and offloading (FPSO) vessel to be deployed at the Mero field within the offshore Santos Basin in Brazil.

Scope of the Report

·         By Application

ü  Pharmaceutical

ü  Personal Care

ü  Agriculture

ü  Textile

ü  Adhesive

·         By Region

ü  North America

ü  Europe

ü  Asia Pacific

ü  South America

ü  Middle East & Africa

The objective of the Study:

•To analyze and forecast the Global White Oil Market size of the market in terms of value.

•To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

•The Global White Oil Market segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, South America, and their leading countries.

•To outline, categorized, and forecast the Global White Oil Market based on By Application and by Regional.

•To examine competitive developments like By Application and By Regional within the Global White Oil Market.

•To highlight the impact analysis of the factors affecting the market dynamics such as growth drivers.

•To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Business Questions Answer by the Report

•         How will the market drivers, restraints, and opportunities affect the market dynamics?

•         What will be the market size in terms of value and volume and market statistics with a detailed classification?

•         Which segment dominates the market or region, and one will be the fastest - growing, and why?

•         A comprehensive survey of the competitive landscape and the market participant players

•         Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

•    With five additional company detail analysis

•    Additional country analysis

•    Detailed segment analysis