Petroleum Jelly Market Size Worth USD 2.23 Billion 2032 | Emergen Research

The global petroleum jelly market size was USD 1.43 Billion in 2022 and is expected to register a revenue CAGR of 4.7% during the forecast period. The global petroleum jelly market is witnessing significant growth attributed to rising demand from various industries such as personal care, telecommunications, pharmaceuticals, cosmetics, shipping, leather, and more. A recent market research report highlights key drivers and challenges shaping the industry's landscape.

Petroleum jelly, renowned for its therapeutic attributes as a topical ointment, is witnessing increasing adoption across high-tech sectors. With an exceptionally elevated melting point, often reaching 160°F, petroleum jelly finds extensive application in crafting wick material that burns efficiently. This versatile substance is integral to diverse sectors due to its moisturizing and healing properties.

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Market Drivers:
Growing Adoption in Telecommunication Industry: The telecommunication industry's demand for cable filling compounds is on the rise, driving the revenue growth of the petroleum jelly market. Petroleum jelly's exceptional properties make it indispensable in producing cable components, particularly for telecommunications infrastructure.

High Demand from The Personal Care Industry: Petroleum jelly experiences high demand from the personal care industry, especially for skincare products. Its effectiveness in shielding and rejuvenating the skin, particularly against harsh sunlight, has contributed to its widespread use in various skincare formulations.

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Market Restraints:
However, the market faces challenges such as volatile raw material prices and increasing competition from natural products. The demand for organic alternatives, coupled with the high manufacturing costs associated with petroleum jelly, poses significant barriers to its revenue growth.

Market Segment Insights:

Petroleum Jelly Product Insights: The market is segmented into yellow petroleum and white petroleum, with the latter dominating due to its rising demand in industries such as cosmetics and personal care.

Petroleum Jelly Grade Insights: The cosmetic grade segment holds the largest market share, driven by its usage in personal and healthcare products. Its properties make it attractive for manufacturers seeking moisturizing and protective properties.

Petroleum Jelly Application Insights: The pharmaceuticals segment leads the market due to petroleum jelly's growing adoption in ointments, skin moisturizers, and skin protectants. Its purity and lubricative properties make it the preferred material for medicinal products.

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Major Companies and Competitive Landscape
The global petroleum jelly market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective petroleum jelly.

Some of the major companies included in the global petroleum jelly market report are:

• Lomon Billions Group
• Sonneborn LLC
• H&R Group
• Nippon Seiro Co. Ltd.
• Sasol Wax
• Unilever PLC
• Exxon Mobil Corporation
• Calumet Specialty Products Partners LP
• LUKOIL
• Raj Petro Specialties Pvt. Ltd
• Eastern United Petroleum Services
• Persia Paraffin
• Nexton Lubricants
• Vasa Global Cosmetics.

Strategic Development

• On 18September 2023, Unilever brand Vaseline introduced Vaseline Radiant in black and brown, including fluid imbalance and brown spots. and uneven skin tone. A skin care product used by generations, Vaseline believes that everyone has the right to healthy, radiant skin, but few brands specifically address their beauty needs and benefits. The line treats all skin types equally.

• On 12 July 2022, Univar B.V., a subsidiary of Univar Solutions Inc, a global distributor of chemicals and ingredients and provider of value-added services, announced the expansion of its distribution agreement with Calumet Specialties ("Calumet") for naphthenic and paraffinic base oils, packaged and wholesaled in bulk throughout Europe. Through this agreement, Univar Solutions customers across Europe can now access more Calumet products with a wide range of viscosity characteristics and reputation in the fields of lubricants, greases, working fluids, and others.

For the purpose of this report, Emergen Research has segmented the global petroleum jelly market on the basis of product, grade, application, and region:

• Product Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o White Petroleum
o Yellow Petroleum

• Grade Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Phamraceutical grade
o Cosmetic Grade
o Industrial Grade

• Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Pharmaceutical
o Cosmetic and Personal Care
o Shipping
o Leather
o Telecommunications
o Others

• Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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