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White Oil Market Trends, Future Scope, Demands and Projected Industry Growths from 2019 to 2024

Author : Ronak Bora | Published Date : 2019-11-28 

White oil market size is poised for robust growth as attributes such as chemically inert, non-toxic, odorless and colorless have instilled confidence among stakeholders. Prominently, white oil is highly sought-after in pharmaceuticals, chemical processing and cosmetics industry. White oil-based products offer notable features such as low irritancy, skin compatibility, bacteria resistant and low environmental impact. Experts credit burgeoning urbanization and improving economic conditions for the proliferating white oil market share.

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Food industry is set to register over 6% CAGR in white oil market share during the forecast period 2018-2024. Inevitably, white oil is highly sought-after in release agents, processing, food-grade lubes and packaging. Notably, approval from FDA has instilled confidence among stakeholders in white oil market. Besides, rising popularity of adhesives in food packaging has complemented soaring consumption of processed and packaged foods. These factors are expected to undergird white oil market share by 2024.

Technological development in the manufacturing process aimed at providing environmentally friendly and cost-effective solutions has impelled white oil market share. Besides, advent of biodegradable and non-toxic emollient products in line with the international manufacturing standards has underpinned white oil market forecast. Further, demand for white oil in the manufacturing of elastomers and specialty adhesives owing to moisture- and water-resistant properties presents a sanguine white oil market outlook.

APAC White Oil Market registered over more than US$ 2.5 bn revenue in 2018 as high product adoption rate in textile, agriculture, plastic and food processing industry undergirds white oil market size. Moreover, APAC has become a happy hunting ground for stakeholders in the wake of affable FDI policies. Additionally, traction for thermoplastic elastomers in an array of applications is expected to further the growth of white oil market share.

On the other hand, North America white oil market is replete with the presence of leading players, including Chevron Corporation, Exxon Mobil and Sonneborn. These companies have gracefully implemented capacity expansion strategy’ to keep up with the ever-increasing demand from end-users. Nonetheless, North America white oil market is slated to expand at a moderate CAGR of over 2.5% through 2024. It is believed that product innovation and favorable regulatory compliance in healthcare industry will boost North America white oil market trend.

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Soaring demand for cosmetic products with improved quality has upped the adoption rate of white oil-based products. Inevitably, demand for durable, pure and consistent products has proliferated dramatically in the recent past. Notable uptick in the consumption of bath and baby oil, lotions, creams and emollients has created favorable white oil market outlook. White oil market size is expected to surpass US$ 6 bn by 2024, according to a new research report by Global Market Insights, Inc.

Major Point From Table Of Content:

Chapter 4 White Oil Market, By Application

4.1    Global white oil market share by application, 2017 & 2024

4.2    Plastic & polymer

4.3    Pharmaceuticals

4.4    Personal care & cosmetics

4.5    Food industry

4.6    Textiles

4.7    Others

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/white-oil-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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