Press release
Global Petroleum Jelly Market Set for Steady Growth, Driven by Increasing Demand Across Industries
Petroleum Jelly Market
Petroleum jelly, a semi-solid blend of hydrocarbons, is widely known for its therapeutic properties when used as a topical ointment. With its high melting point and versatile nature, petroleum jelly has found extensive applications across a range of industries, including cosmetics, pharmaceuticals, telecommunications, shipping, and leather. As these industries continue to expand, the demand for petroleum jelly is anticipated to rise steadily.
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Key Drivers of Market Growth
One of the main drivers of market growth is the increasing use of petroleum jelly in the telecommunications industry, particularly as a cable-filling compound. With the global demand for cable assembly expected to rise significantly, the use of petroleum jelly in telecommunications infrastructure will remain essential. By 2030, the demand for cable assemblies is projected to reach USD 324.15 billion, with petroleum jelly playing a crucial role in the production of cable components.
The personal care industry also represents a significant market for petroleum jelly. Known for its moisturizing and healing properties, petroleum jelly is a popular ingredient in skincare products. In February 2020, an Iranian company successfully developed a petroleum jelly infused with nano zinc oxide, which helps absorb ultraviolet radiation and protects the skin from sun damage. As consumer awareness of skincare continues to rise, demand for petroleum jelly in personal care products is expected to grow.
Challenges and Restraints
However, the market faces certain challenges, including fluctuating raw material prices and increasing competition from natural and organic alternatives. As petroleum jelly is derived from petroleum, its production costs are directly impacted by volatile oil prices. Moreover, there is growing consumer preference for organic products, such as those made from coconut oil, which presents stiff competition for petroleum-based products. These factors may limit the market's growth potential, prompting manufacturers to explore cost-effective solutions to remain competitive.
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Segment Insights
The petroleum jelly market is segmented based on product type, grade, and application.
Product Type
The market is divided into yellow petroleum and white petroleum jelly. In 2022, white petroleum jelly accounted for the largest revenue share due to its widespread use in cosmetics and personal care products. Its properties, including high flash points and resistance to water, make it an ideal ingredient for skincare products. Its ability to lock in moisture and protect against environmental factors like bacteria and fungi has made white petroleum a favorite in the beauty industry.
Grade
Petroleum jelly is available in three main grades: pharmaceutical, industrial, and cosmetic. The cosmetic-grade petroleum jelly dominated the market in 2022, largely due to its application in personal care products. This grade is highly valued for its ability to act as a protective barrier, locking in moisture for extended periods and preventing skin dehydration. In industries that prioritize purity, cosmetic-grade petroleum jelly offers the highest levels of cleanliness, which is essential for products that come into direct contact with the skin.
Application
Petroleum jelly is used in a wide range of applications, including pharmaceuticals, cosmetics, personal care, shipping, leather, and telecommunications. In 2022, the pharmaceuticals segment accounted for the largest market share due to the increasing use of petroleum jelly in ointments, skin moisturizers, and protectants. Its ability to protect wounds and prevent skin irritations has made it a preferred ingredient in healthcare products, contributing to its growth in the medical sector.
Petroleum Jelly Top 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.
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Petroleum Jelly Latest Industry Updates
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)
White Petroleum
Yellow Petroleum
Grade Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Phamraceutical grade
Cosmetic Grade
Industrial Grade
Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
Pharmaceutical
Cosmetic and Personal Care
Shipping
Leather
Telecommunications
Others
Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Petroleum Jelly Market Size@ https://www.emergenresearch.com/industry-report/petroleum-jelly-market/market-size
Petroleum Jelly Market Share@ https://www.emergenresearch.com/industry-report/petroleum-jelly-market/market-share
Petroleum Jelly Market Trends@ https://www.emergenresearch.com/industry-report/petroleum-jelly-market/market-trends
Petroleum Jelly Regional Market Demand@ https://www.emergenresearch.com/industry-report/petroleum-jelly-market/regional-market-demand
Petroleum Jelly Market Analysis@ https://www.emergenresearch.com/industry-report/petroleum-jelly-market/market-analysis
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