Press release
White Oil Market Growth Will Be Extreme in the Next Years 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 witness significant growth over the forecast period owing to increasing demand from the personal care and pharmaceutical industries. White oil is widely used in the manufacturing of skin creams, lotions, and baby oil due to its moisturizing properties and ability to lubricate the skin. Additionally, white oil provides a glossy effect to various hair care products such as pomades and hair creams. Furthermore, white oil has applications as an excipient and lubricant in pharmaceuticals capsules and tablets manufacturing. The growing pharmaceutical industry globally is thus anticipated to boost the demand for white oil. Growing health awareness among consumers and increasing spending on personal care is also expected to propel the white oil market during the forecast period.
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1 Driver: Growing demand from personal care and cosmetics industry
The personal care and cosmetics industry has seen rising demand for white oil in their products such as lotions, creams, lip balms, hair care products and more. White oil acts as an emollient and moisturizer in these applications. The expanding middle class population in developing countries is increasingly spending more on personal grooming and cosmetics. This has fueled the demand for white oil from this industry segment. Further, with growing health and skincare concerns, people are opting for natural and chemical-free personal care products where white oil can be used as a basic ingredient.
2 Driver: Increasing usage in pharmaceutical formulations
White oil is widely applied as an excipient in pharmaceutical products due to its excellent lubrication and softening properties. It is frequently employed as a solvent and ointment base in various topical drug delivery formulations such as creams, gels and ointments. With rising healthcare spending and increasing affordability of medicines, the pharmaceutical industry has witnessed strong growth. The need to develop effective topical drugs for various skin diseases is further propelling the need for white oil in this sector. Its purity, stability and inertness make it well-suited for manufacturing medications meant for external use.
3 Restrain: Availability of substitute oils
The white oil market faces competition from other mineral and vegetable oils that can substitute it in certain non-critical applications. Substitute oils offering similar properties as white oil include liquid paraffin, vegetable oils, castor oil and silicone oils. The ease of availability and lower prices of some substitute oils may prompt formulators to use them instead of white oil. This could restrict the white oil market's growth potential. However, white oil still has better oxidation stability and is favoured where high purity is required like in cosmetics and pharmaceuticals.
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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 Inquiries Addressed in this Report include:
📈 What was the size of the White Oil Market in 2024, and what is the projected value by 2031?
📈 What is the present global market landscape for the White Oil Market?
📈 What strategies offer optimal opportunities for growth maximization in the business?
📈 What recent trends are shaping the White Oil Market?
📈 How does the market share of White Oil Market revenue, sales, and size vary across specific geographical regions?
📈 Who are the prominent industry players in the White Oil Market?
📈 Which segment of the White Oil Market is experiencing heightened demand?
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.
💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/5318
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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