White Oil Market Is Booming Across the Globe by Growth Segments and Forecast - 2028

The White Oil Market was valued at US$ 2030.13 million in 2021 and is projected to reach US$ 2688.01 million by 2028. It is expected to grow at a CAGR of 3.7% from 2021 to 2028.

White oil is also a refined mineral oil that is extremely pure, stable, colorless, odorless, non-toxic, and chemically inert. All these properties of white oil make it suitable for a wide range of applications, such as pharmaceuticals, cosmetics, and chemical processing. White oils are widely used in plastic, food, pharmaceutical, and medicinal applications. In the plastic industry, it is applied in polystyrene manufacturing. In the food industry, it is used for the protective packaging of fruits and vegetables, food preservatives, etc. Further, consumers' evolving lifestyles, rising purchasing power in emerging economies, such as India and China, and the development of multifunctional cosmetic products are the major factors anticipating the demand for better personal ingredients. With the increase in demand for cosmetic products white oil market will significantly, as white oil aids the easy blending of cosmetics ingredients, and it resists moisture and maintains the smoothness of the product.

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Analysis of the Top Market Players:

1. Calumet Specialty Products Partners, L.P.
2. Chevron Corporation
3. ExxonMobil Corporation
4. Petro-Canada Lubricants Inc.
5. Renkert Oil
6. Atlantic Oil
7. Apar
8. Sasol
9. Sonneborn LLC
10. H AND R Group

In this report, the market has been segmented on the basis of:

Grade (Food, Pharmaceutical, and Technical)
Application (Personal Care and Cosmetics, Pharmaceutical and Healthcare, Food Industries, Plastic Processing, Agriculture, and Others)

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In 2020, Asia Pacific held the largest revenue share of the white oil market. The regional revenue is anticipated to grow owing to the growth in the personal care industry. The cosmetics and personal care market, which includes a wide variety of products, such as makeup, skincare, haircare, personal hygiene, and fragrances, has been experiencing growth during the forecast. Thus, increasing the market demand for white oil in the region. In India, hair oil is the most prominent application of white oils, a part of the cosmetics and personal care industry. The overall cosmetics and pharmaceutical industries account for around three-fourths of the white oil consumption in the country.

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