Press release
White Oil Market Key Player by 2024 are British Petroleum, Exxon Mobil, JX Nippon Sinopec, Petro-Canada, Royal Dutch Shell, Sasol, TOTAL, Sonneborn and Renkert.
Growth in product usage in food & meat packs, baby lubricants, cleansers and protective coating for fruits & vegetates will drive product scope in innovative applications. Furthermore, increased product usage as a basic ingredient in numerous consumer applications including home care solutions and thermoplastic elastomers.
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Technological advancement in production process to ensure complete elimination of dust particles, and enhance purity, tasteless and odourless properties will propel the white oil market growth. Increasing product usage as gear lubricants, glossing agents, hydraulic fluid, rust prevention and de-foaming in several machineries will support the product demand.
Development in cosmetics industry including hair care & makeup products, cleansers, lotions, suntans, emollient creams and sunscreens will propel white oil market growth. Economic instability and fluctuating petroleum prices are the restraining factors of the industry growth.
Global white oil market is led by plastics & polymers with revenue valued over USD 450 million in 2015. High availability with broad range of stability, density and viscosity grades are the key factors driving the industry growth. Surge in demand for moulding agents, extrusion aids, extenders and elastomers in plastic production will fuel the product development.
Personal care & cosmetics white oil market will observe CAGR more than 2.5% up to 2024. Increasing application scope as a base ingredient in suntan lotions, skin creams and massage lubricant due to superior softness, smoothness, resistance to moistness and good lubricity will encourage industry demand.
Pharmaceutical white oil market is expected to witness growth over 2.8% up to 2024. Increase in demand for laxatives, emollients, ointments and several medical devices will support the industry demand.
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Food industry will be valued over USD 68 million by 2024. Rising demand for food packaging, coatings on fruits, vegetable & eggs and sugar refining will encourage product development. Expansion in the food industry coupled with increase in usage of release agents, wrapping papers and food grade lubes will trigger the demand.
Textile market is anticipated to grow over 2% by 2024. Rising demand for fabrics and apparels owing to the product application as an anti-oxidant, anti-rust and anti-wear lubricant in sewing machines, mainly in Asia Pacific will propel the white oil demand.
Asia-Pacific dominated the white oil market with over 60% of the overall industry share in 2015. Growing agriculture, food processing and textile industry coupled with favourable government regulations will support the revenue growth in the region. Rapid industrialization along with rising manufacturing facilities are the major factor influencing the product demand.
North America white oil market is anticipated to observe growth at around 2.7% up to 2024. Increasing customer expenditure on cosmetic and personal care products along with expansion in the cosmetic industry will drive the product growth.
Global white oil market is highly fragmented owing to the presence of several regional as well as multinational players. Major industry players include Sinopec, ExxonMobil, Petro-Canada, JX Nippon, Sonneborn, Royal Dutch Shell and Nynas AB.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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