Press release
White Oil Market Pegged for Robust Expansion During 2024 - 2031 | Bharat Petroleum Corporation Ltd. (BPCL)
White Oil Market
The global white oil market is estimated to be valued at USD 1.74 Bn in 2024 and is expected to reach USD 2.41 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031.
Market Dynamics:
The white oil market is expected to propel owing to increasing demand from pharmaceutical industry where it is used as an emollient and lubricant in ointments, lotions and other medicated applications. Additionally, rapid expansion of cosmetic industry has also fueled the consumption of white oil as an essential ingredient in makeup products such as lipsticks, eye liners and foundations owing to its mildness on skin. Growing inclination of consumers towards natural and organic personal care products is anticipated to boost the market over the forecast period.
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Driver: Increasing demand of white oil for cosmetic and personal care products
White oil is widely used as an emollient in cosmetic and personal care products. It serves as a lubricant that helps to moisturize and soften the skin. With growing beauty and skincare industry globally, the demand for white oil from this sector is increasing steadily. As consumers are becoming more aware about the benefits of natural products and ingredients, the manufacturers are increasingly using white oil in their formulations due to its advantages of being colorless, odorless and non-toxic in nature. This has led to surge in consumption of white oil by cosmetic companies for manufacturing various creams, lotions, hair oils and other skincare products.
Opportunity: Expanding markets in emerging economies
Emerging economies in regions like Asia Pacific, Latin America, Middle East and Africa offer huge untapped potential for white oil market players. Rapid industrialization and economic growth in these developing countries are propelling the demand from key end use industries such as construction, rubber, plastics, cosmetics and personal care. Rising disposable incomes, growing population and increasing focus on personal grooming in emerging nations arefueling the cosmetic and skincare products market which acts as a driver for white oil consumption. Further, these emerging markets lack stringent environmental regulations which provide an added advantage to manufacturers for setting up cost-effective production facilities. Thus, tapping the evolving market scenario in developing countries can open lucrative opportunities for white oil producers globally.
Trends: Increasing use of bio-based and natural white oil
With rising awareness about use of eco-friendly products, the manufacturers are focusing on developing more sustainable alternatives to conventional crude oil based white oil. The white oil market trend shows a growing preference for plant-derived and natural white oil that are biodegradable and pose minimal health and environmental risks. They are extracted from natural fats and oils through hydro refining process and have similar properties as compared to mineral-based white oil. Their adoption is increasing in cosmetic, food and industrial applications owing to clean label and natural positioning. The advancement in green chemistry coupled with stringent regulations will further drive the replacement of petroleum-derived white oil with renewable and bio-based variants in the coming years.
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Top Companies Featured in This Report:
★ Bharat Petroleum Corporation Ltd. (BPCL)
★ Calumet Specialty Products Partners
★ China Petrochemical & Chemical Corporation (Sinopec)
★ Columbia Petro Chem Pvt Ltd.
★ Exxon Mobil Corporation
★ H&R GROUP
★ HF Sinclair Corporation
★ Nynas AB
★ Oxiteno (Indorama Ventures)
★ Renkert Oil
★ Shell PLC
★ Sasol
★ Savita Oil Technologies Limited
★ VELVEX
★ Gandhar Oil Refinery (India) Limited
★ Raj Petro Specialities Pvt. Ltd
Market Segmentation:
By Product Type:
★ By Grade: Technical/Industrial Grade and Pharmaceuticals Grade
By Applications:
★ By Application: Plastics and Elastomers, Adhesives, Personal Care & Cosmetics, Agriculture, Textile, Food and Beverage, Pharmaceutical, Metalworking Applications, and Other Applications
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global White Oil Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the White Oil market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the White Oil market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the White Oil market.
Segment Analysis: Examining the market value and sales volume of White Oil by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the White Oil market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the White Oil sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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