White Oil Market Size By Grade (Food, Pharmaceutical, Technical), By Application (Plastics & Polymers, Pharmaceuticals, Personal Care & Cosmetics, Food Industry, Textile), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

Industry Overview

White Oil Market size surpassed USD 2 billion in 2022 and is poised to depict over 2% CAGR through 2023-2032. This is the result of an increase in construction spending and the accelerating use of plastics in industrial applications.
 

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Due to their versatility, white oils are utilized in a range of applications, including the plastic industry as a process oil. Various new infrastructure development funds are also being introduced by governments in prominent regions. For example, the U.S. Infrastructure and Investment Jobs Act, announced in November 2021, will provide USD 500 billion in new spending over the next decade and create over 100,000 construction jobs by 2023. Such factors will proliferate the need for plastics to design construction components such as screws and consequently augment industrial white oil market demand.
 

White oils also play a key role in thermoplastic elastomer manufacturing. This industrial lubricant is adopted as an extender in processing elastomeric material without vulcanization to facilitate fabrication. With the steady recovery in auto sales, especially in emerging nations, the consumption of elastomers for vehicle tire applications will rise. This, in consequence, will amplify white oil production for the expanding elastomer industry. The volatility in crude oil prices may, however, assert a negative impact on industry development to some extent.
 

Rising zoonotic disease burden to propel pharma-grade white oil consumption

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White oil market value from the pharmaceutical grade segment will exceed USD 750 million by 2032, as a result of the mounting drug intake and the high burden of animal diseases. As per the CDC, more than 6 in 10 known infectious diseases can be spread from animals. Since the product is widely adopted in animal vaccine manufacturing, the increasing risks of zoonotic diseases will amplify the usage of pharma-grade white mineral oil. This substance is also gaining traction in the production of other pharmaceutical products such as gelatin capsules, ointments, and laxatives, further contributing to its consumption.
 

Preference for durable personal care & cosmetic products fuels white oil production

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White oil market share from the personal care & cosmetics application segment is poised to depict over 3% CAGR through 2032. White oils are emerging as a key component in emollients and moisturizers for cosmetic and personal care applications including suntan lotions, baby oil, skin creams, and makeup removers. The incorporation of such products in consumers’ daily personal care routines will therefore fuel the requirement for cosmetic ingredients such as white oil. Likewise, the robust demand for durable, pure, and consistent products, alongside increasing consumer expenditure will further expedite the usage of white oil in personal care & cosmetics applications.
 

Non-communicable disease prevalence to boost white oil usage in the APAC region

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Asia Pacific white oil market is poised to surpass USD 1.5 billion by 2032, on account of the rising prevalence of non-communicable diseases including cancer. According to the WHO, NCDs cause an estimated 9 million deaths per year, half of which are premature, in Southeast Asia. The increasing burden of such ailments is anticipated to promote the use of ingredients such as white oils in drug manufacturing applications. Additionally, the introduction of favorable policies and initiatives to support pharma sector development will further augment white oil production in the region.
 

Collaborative expansion strategies among market players to define the competitive landscape

BASF SE, British Petroleum, ExxonMobil Fuels & Lubricants, Royal Dutch Shell, Sinopec Corporation, ENEOS Corporation, Suncor Energy, Nynas AB, Seojin Chemical, Total SA, Apar Industries Ltd., Lubline, Savita Chemicals, Eastern Petroleum Pvt. Ltd., Sasol, Renkert Oil, Sonneborn LLC, and H& R AG are some of the key players operating in the white oil market. These companies are focusing on collaborations and product range expansions, among other strategies, to boost their customer base and strengthen their market presence.
 

Impact of COVID-19 outbreak on white oil industry outlook

Drug manufacturing has witnessed a significant spike since the onset of the COVID-19 pandemic. To mitigate the disruptions in the medicine supply chain, several regulatory bodies have also entered partnership deals in prominent regions, including the EU. The EMA (European Medicines Agency), for instance, partnered with several entities from the European medicines regulatory network to establish measures that would mitigate potential disruptions to medicine supply across the EU during the crisis.
 

Factors such as these will, in turn, promote the utilization of high-quality medical-grade white oil across the pharma sector. Moreover, businesses are continuing to enter supply chain agreements with distributors and deals to ensure seamless product distribution, thereby providing lucrative opportunities for global market expansion over the forecast period.
 

The Global White Oil market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in kilo tons and revenue in USD Million from 2018 to 2032 for the following segments:

By Grade

• Food
• Pharmaceutical
• Technical

By Application

• Plastics & Polymer
• Pharmaceuticals
• Personal Care & Cosmetics
• Food Industry
• Textiles
• Others

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Malaysia
  • Taiwan
  • Philippines
  • Singapore
  • Taiwan
  • Vietnam
• Latin America
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa