Global White Oil Market to surpass $2bn by 2024 | Sasol, Suncor Energy, Total, Sonneborn, ExxonMobil, Chevron, BP, Shell
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Strong application outlook in food, adhesives, paper, bakery, precision machinery, cement, wood and textile industries will surge the revenue growth. Increased product usage in consumer goods including food packaging, coating on vegetables, animal food and medications will drive white oil market demand size. Technical grade white oil approved by the FDA are used in the food & beverage applications.
White oil is used in manufacturing medical devices, laxatives, ointments and various excipients in healthcare industry. Prevalence of disease and demographic rise in APAC is expected to initiate the pharmaceuticals market demand in China and India.
White Oil Market, By Application
• Plastic & Polymer
• Personal Care & Cosmetics
• Food Industry
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Plastics & polymers dominates the white oil market share, accounted for over 50% in 2015. Surging demand for PVC lubricants, extenders, plastic annealing, thermoplastic elastomers, rubber and catalyst carriers are he stimulating factors of business demand. Moreover, mold release agents and extrusion aids are extensively used in the polymer production.
Personal care & cosmetics white oil market is set to observe growth exceeding 2.5% up to 2024. Rising demand for pure, durable and consistent products along with growing consumer spending has enhanced the industry growth. High consumption in bath & baby oil, lotions, creams and emollients are the supporting factors of the product development.
Browse key industry insights spread across 160 pages with 83 market data tables & 10 figures & charts from the report, “White Oil Market” in detail along with the table of contents:
Global white oil market will witness significant gains from food industry in the forecast period. Rising food grade product scope in sugar refining, egg shell sealants and animal feed has encouraged the business demand. Increased product usage in lubes, wrappers, filling & packaging equipment are the driving factors of the product penetration.
Economic uncertainty and fluctuating petroleum prices are the major factors restraining the industry growth. Strict government guidelines on the manufacture and consumption of the product especially in developed nations are probable to act as limitation in the next years.
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