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White Oil Market Will Expand with A Significant CAGR of 2% In Pharmaceutical Industry Till 2024

Author : Ronak Bora | Published Date : 2019-08-07 

White Oil Market size is projected to grow exponentially in the coming years. Pharmaceutical industry emerged as the fastest growing segment with over 2% CAGR up to 2024. The demand is primarily driven by its rising applications as a lubricant in the medical instruments and as a base constituent for ointments and other solutions. Growth in the overall healthcare industry as a result of product diversification and continuous developments will provide stimulus to the global white oil market over the projected timeframe.

Personal care & cosmetics industry dominates the market accounting for over 29% of the white oil market in 2017. Increasing demand for pure, durable, and consistent products coupled with the growing consumer expenditure has enhanced industry size. High consumption of lotions, bath & baby oil, emollients, and creams is a supporting factor augmenting industry expansion. Moreover, the growing demand for product in water-resistant creams due to its exceptional moisture barrier property will boost industry expansion.

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Speaking of the application spectrum, as per a research report collated by Global Market Insights, Inc., the plastic and polymer segment accounted for more than USD 750 million of the white oil market share in 2017. The paraffinic base, low volatility, and high purity are some of the characteristics of white oil which make it ideal to manufacture PVC, LDPE, TPE products. In addition to this, the increasing demand for extrusion aids and mold release agents in plastic manufacturing has augmented the pace of product adoption in the recent times.

Technological advancement in the manufacturing process to offer cost-effective and environment friendly solutions have positively impacted the global white oil market share. Further, the development of non-toxic and biodegradable emollient products in large amounts adhering to the international manufacturing standards supports the industry growth. Increasing product demand in the manufacturing of specialty adhesives and elastomers due to their water- and moisture-resistant properties will provide positive business outlook over the projected timeframe.

Reliable estimates claim that the food industry segment is set to apportion more than 6 percent of the total revenue share of the white oil market by the end of 2024. Usage of white oil in the food industry is further likely to gain traction, given the product has robust application scope in packaging and food grade lubes, release agents, and processing-related activities. Additionally, prominent regulatory organizations such as U.S. FDA have been approving the utilization of white oil in applications that require direct and indirect contact with food, essentially boosting the growth potential of white oil industry.

In terms of geographical penetration, the Asia Pacific region is one of the most lucrative growth avenues for the white oil industry players. Owing to favorable FDI policies and ease of doing business, the APAC nations are transforming themselves into large manufacturing hubs – a factor that has helped market participants to expand their reach in this region. Moreover, the high adoption rate of white oil in food processing, plastic, textile, and agricultural sectors has fostered business growth. For the record, the APAC white oil market recorded a revenue collection of USD 2.5 billion in 2017, cite authentic estimates.

The global white oil market is moderately fragmented in nature owing to the presence of several multinational companies and regional manufacturers. Key players are Sinopec Corporation, Exxon Mobile, Chevron, Sonneborn, JX Nippon, Royal Dutch Shell., British Petroleum and Sasol. Numerous companies are involved in partnerships, collaborations, mergers & acquisition, product innovation and portfolio expansion to enhance their industry footprint over the forecast period. For instance, in 2018, FUCHS PETROLUB acquired Chevron's white oils and food machinery specialty lubricant business to enhance their product offerings to food lubricant customers.

 

Glimpse of Table of Content (ToC)

Chapter 3 White Oil Market Insights

3.1    White Oil Market segmentation

3.2    White Oil Market landscape, 2013- 2024

3.3    White Oil Market ecosystem analysis

3.3.1   Distribution channel analysis

3.3.2   Vendor matrix

3.4    Raw material trends

3.4.1   Paraffinic hydrocarbons

3.4.2   Naphthenic hydrocarbons

3.5    White oil industry overview, 2017

3.5.1   White oil production capacity of key players

3.5.2   White oil product, by specification

3.5.3   White oil potential customer overview, 2017

3.6    Global petroleum product market outlook

3.6.1   Major petroleum product consumption

3.6.2   Petroleum product prices

3.6.3   Petroleum product output

3.6.4   Trade statistics (Mineral Oil)

3.6.4.1  Net exports

3.6.4.2  Net imports

3.6.4.3  Petroleum needs & budget

3.7    Global personal care market share analysis & forecast, 2013 – 2024

3.8    Technology & innovation landscape

3.8.1   Current white oil production procedures overview

3.8.1.1  Two Stage Catalytic Hydrogenation

3.8.1.2  Solvent Refining Process

3.9    Regulatory landscape

3.9.1   Environmental indicators of white oil production

3.9.1.1  General indicators of sustainability

3.9.1.2  Entrepreneurial indicators of sustainability

3.9.1.3  Sustainability indicators for oil & gas industry

3.9.2   U.S.

3.9.2.1  172.878 - CFR - Code of Federal Regulations Title 21

3.9.2.2  Sec. 178.3620 Mineral oil. - CFR - Code of Federal Regulations Title 21

3.9.3   Canada

3.9.3.1  Canada Oil and Gas Operations Act (R.S.C., 1985, c. O-7)

3.9.4   Europe

3.9.4.1  High viscosity white mineral oils; CAS Number 8042-47-5; Liquid paraffin; Paraffinum Liquidum

3.9.5   Japan

3.9.5.1  Chemical Substances Control Law (CSCL)

3.9.5.2  Industrial Safety and Health Law (ISHL)

3.9.5.3  Law for PRTR and Promotion of Chemical Management (PRTR Law)

3.9.5.4  Poisonous and Deleterious Substances Control Law (PDSCL)

3.9.6   China

3.9.6.1  GB 4853-2008 Food grade white oil. GB/T12494- 1990 White oil for food-machinery

3.10      Pricing trends, by region

3.10.1     North America

3.10.2     Europe

3.10.3     APAC

3.10.4     LATAM

3.10.5     MEA

3.10.6     Cost structure analysis, 2017

3.11      Industry impact forces

3.11.1    Growth drivers

3.11.1.1  Growth in cosmetics and personal care industry

3.11.1.2  Expansion of plastics & elastomers market

3.11.1.3  Rising demand for white oil as adhesives in food packaging

3.11.2     Industry pitfalls & challenges

3.11.2.1  Fluctuating prices of crude oil

3.12      Growth potential analysis, 2017

3.13      Competitive landscape, 2017

3.13.1     Major players

3.13.2     Market share analysis, 2017

3.13.3     Strategy dashboard

3.14      Porter’s analysis

3.15      PESTEL analysis

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

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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Phone: 1-302-846-7766

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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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