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White oil market to witness substantial gains from pharmaceutical applications, APAC to be a major revenue pocket

Publisher : Fractovia | Published Date : May 2017 | Price : $4500Request Sample

White Oil Market is gaining remarkable impetus due to its exponentially surging demand from personal care & cosmetic, pharmaceutical, food, and textile industries. White oil, often referred to as baby oil or mineral white oil is a mixture of highly refined paraffinic and naphthenic hydrocarbons which are derived from crude oil and are extremely versatile & pure. The odorless, tasteless, and colorless properties of white oil have significantly enhanced its penetration across several end-use industries. As per a report by Global Market Insight, Inc., White oil market is estimated to witness a steady annual growth rate of more than 4% over the period of 2016-2024.
 

Asia Pacific was the largest demand contributor accounting for over 60% of the overall white oil market consumption in 2015. Rapid urbanization and industrialization in the emerging economies such as India, China, and Taiwan is further pushing the growth of this industry via its several end-use applications. Moreover, favorable government regulations and flexible taxation laws in APAC, particularly in India, is likely to draw the attention of many investors in this region. Speaking of North America, U.S. white oil market is foreseen to expand at a rate of 4.5% over the period of 2016-2024, owing to the heavy demand and consumption of white oil in moisturizers, hair care products, protective diluents, emollients, and baby care products. Intensive research and product development particularly in the healthcare sector will also fuel the regional growth of white oil industry. 
 

U.S. White Oil Market Size, By Application, (USD Million), 2013-2024
U.S. White Oil Market Size, By Application, (USD Million), 2013-2024

 

Below mentioned are the five application trends of white oil industry:

  • Increasing white oil consumption as moisturizer and cleansers in emollient creams & lotions has propelled the personal care & cosmetics white oil market size. Excellent skin compatibility, low irritancy, and resistance to bacteria are the prime properties of white oil which has boosted its demand in the cosmetics industry. The personal care & cosmetics white oil market is anticipated to grow at a rate of 2.5% over the period of 2016-2024. Moreover, high consumption of white oil in baby oil products, bath oil, massage oil, sunscreens, makeup & hair care products is the major driving force behind the industry growth. Increase in consumer spending for durable, consistent, and pure quality products is another supporting factor leading to white oil industry growth.
     
  • Food industry is another segment which is positively influencing the growth of white oil market. Rising application scope of the product in animal feed, egg shell sealants, and sugar refining sectors has further fortified white oil demand in this sector. The wide use of white oil in filling & packaging equipment, lubes, and wrappers has also expanded the business scope of for the industry.
     
  • The textile sector is also one of the key targets for white oil market where this oil is used as an anti-oxidant, anti-wear, and anti-rust lubricant. The mounting demand for apparels, garments, and fabrics especially in Asia Pacific countries has spurred the usage of white oil in this industry. The textile white oil market is foreseen to register a CAGR of 2% over the period of 2016-2024.
     
  • This market is also gaining considerable traction from the plastics & polymers industry, owing to growing demand for mold release agents and extrusion aids. White oil market from the plastics & polymers application collected revenue worth USD 450 million in 2015 and is estimated to witness high product demand over the coming seven years.
     
  • With an estimation to exhibit an annual growth rate of 2.8% over 2016-2024, the pharmaceutical sector has emerged as one of the prominent application areas for white oil industry. Increasing utilization of white oil in the manufacturing of emollients, ointments, medical devices, laxatives, and several excipients has complimented the industry growth. High prevalence of diseases especially in Asia Pacific region is expected to influence pharmaceutical white oil market demand over the coming years.
     

Furthermore, white oil industry is also likely to collect significant revenue from other applications comprising bakery, agriculture, housecleaner, stainless steel, and adhesive.
 

To meet the increasing demand from these aforementioned end-use industries, MEA in particular is heavily boosting up its white oil production rate considerably. MEA white oil market is set to record an annual growth rate of 2.5% over the period of 2016-2024.
 

British Petroleum, JX Nippon Sinopec, Petro-Canada, Exxon Mobil, Renkert, Sasol, TOTAL, Sonneborn, and Royal Dutch Shell are few of the key industry participants. These players are likely to adopt product innovation and merges & acquisitions as their major business expansion strategies.
 

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