White Oil Market Trend 2030 : High Demand in Cosmetics Industry Drives Revenue Growth - Reports and Data

According to a new report by Reports and Data, the global White Oil market is forecast to reach USD 2.95 Billion by 2030. The growing popularity in the Personal Care products around the globe has spurred the growth of White Oil. The increase in the application of the organic compound in various end-use industries has encouraged its growth, mainly the boost from the cosmetic and Pharmaceuticals industry. This finds its vast use in tires, Rubbers, Perfumes, Textiles, adhesives, and other sectors, including Agriculture.

White Oil Market has also found various application in Pharmaceutical and Food as processing Oil. The demand for these products is expected to grow in the coming years owing to its use in cosmetics as well as Pharma production. Thus, an increase in Personal care and luxurious way of life activities all across the globe, and expansion of medicine production will foster the market demand. 

Key participants include Petro-Canada, ExxonMobil Corporation, Sinopec Petroleum & Chemical Corporation, Sonneborn LLC, BP LLC (British Petroleum), Royal Dutch Shell Plc, and Renkert Oil, among others.

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Further key findings from the report suggest

White Oil market products is used in the pharmaceutical industry and has been found useful in the Tires, rubber, and textile manufacturing. Adults with concern to have personal hygiene are the more prominent consumer of personal care, cosmetics, and perfumes. It is also used in food Industries across a wide range of products ranging from Beverages to Ready-to-eat materials. The pharmaceutical sector is expected to grow with a higher CAGR during the forecast period.
Currently, White Oil is produced from Crude oil distillation. As petroleum prices rise rather quickly, Phenol, as a petroleum derivative, increased its rate as well. However, the current drastic fall in the amount of petroleum during the COVID-19 crisis can propel the demand for the production of White Oil by Phenol. 
White Oil is mainly used in Tires & Rubber as well as polymer Industry. Growing numbers of automobiles all over the world is augmenting the rise of White Oil Market. It is estimated that it will grow at a CAGR of 4.4% over the forecasted year.
The widespread Pharmaceuticals uses in the European and Asian regions is driving the demand in the region. The awareness for personal hygiene and grooming, cleaning activities in the continent is creating a massive demand for Personal Care products. India, China, Germany, Italy, the UK, and France were the primary consumers of the market product.

The COVID-19 impact Analysis: The growing COVID-19 pandemic has led to the weakening demand for coatings in electronics, automotive, construction, and white goods. The market has the capacity to bounce back, but it completely depends on the duration of the lockdown, and also the impact of the virus on the economy. Even though the overall demand of the market is falling, the demand for White Oil Market is expected to rise in the coming years.

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Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 - 2030)

Light Paraffinic
Heavy Paraffinic
Naphthenic

Grade Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 - 2030)

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)

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 - 2030)

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

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Significant Features that are under Offering and Key Highlights of the Reports:

- Detailed overview of the White Oil Market

- Changes in industry market dynamics

- Detailed market segmentation by type, application, etc.

- Historical, current and projected market size in terms of quantity and value

- Recent industry trends and developments

- Competition situation of White Oil Market

- Key companies and product strategies

- Potential niche segment/region showing promising growth.

Finally, the White Oil Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.

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