White Oil Market Size By Application (Plastic & Polymer, Pharmaceuticals, Personal Care & Cosmetics, Food Industry, Textile), Industry Analysis Report, Regional Outlook (U.S, Canada, Germany, UK, France, Russia, China, India, Taiwan, South Korea, Brazil, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: April 2017 | 160 Pages | Report ID: GMI1192 Report Format: PDF
White Oil Market size was over USD 1.1 billion in 2015, and will witness CAGR over 4% from 2016 to 2024.
U.S. White Oil Market Size, By Application, (USD Million), 2013-2024
Potential outlook in pharmaceutical, personal care & cosmetic applications including purity, longevity and consistency will drive the white oil market growth. This growth is attributed to excellent skin compatibility, resistance to bacteria, low irritancy with minimum environmental impact properties. Improved economic conditions along with rapid urbanization and industrialization in the emerging nations will support the industry growth.
Upsurge in white oil usage in food & meat packs, baby oils, lotions, cleansers, hair shampoos & conditioners and protective coating on fruits & vegetables will support the product scope in innovative applications. Moreover, it is broadly used as elementary ingredient in various end-use applications including medicines, personal care formulations and thermoplastic elastomers. Colorless, odorless and tasteless properties have enhanced the white oil penetration in food, pharmaceutical and cosmetic applications.
White oil, also known as baby or mineral white oil witnessed increased consumption in the recent years as they provide solution to the challenges faced by cosmetics and healthcare industry. Chemical and biological stability, resistance to toxic aromatics and germs are the encouraging factors of the industry growth. The product is also widely used as hydraulic fluid, gear lubricants, de-foaming, glossing agents and rust prevention in tanks, vats and machinery.
High white oil production to meet the rising demand from end-use industries particularly in MEA will propel the revenue growth. Increasing product penetration in adhesives, textile, paper, food, precision machinery, bakery, cement and wood industries will create more opportunities for industry growth. Rise in demand for plastic annealing, extenders, PVC lubricants, catalyst carriers, thermoplastic rubber, polystyrene thermoplastic polyolefin and elastomers will drive the demand. Increasing usage in compressor cylinders, filling & packaging machines, medical apparatus and instruments have enhanced the product development.
Stringent government regulations on product consumption and production mainly in developed countries may impact the price trend in the forecast period. FDA regulations on white oil subjected to food contact include 21 CFR 172.878 on direct food contact, 21 CFR 172.878 on indirect food contact and 21 CFR 573.680 for medication and animal feed. Only technical grade products approved by FDA are used in the applications with food contact. Fluctuating crude oil prices and economic instability are the factors restraining industry growth.
White Oil Market, By Application
The 2015 white oil market from plastic & polymers was worth over USD 450 million. Rising demand for extrusion aids and mould release agents in plastic manufacture will drive the business demand. High product availability in wide range of viscosity, density and stability grades are the positively influencing factors of industry growth.
Personal care & cosmetics white oil market will witness CAGR over 2.5% up to 2024. High application scope as base material in skin creams, suntan lotions, baby and massage oil. Superior smoothness, softness, good lubricity, and resistance to moistness are the major properties encouraging the business demand.
Pharmaceuticals white oil market will observe growth over 2.8% up to 2024. High consumer awareness pertaining to health & safety along with increasing prevalence of diseases particularly in Asia Pacific will drive the industry growth. Increasing demand for medical devices, emollients, laxatives, ointments and several excipients will enhance the industry growth in this segment.
White oil market share from food industry will register over USD 68 million in 2024. Growing demand for food packaging materials, sugar refining and coating on eggs, fruits & vegetables have enhanced the product development. Moreover, extensive usage in release agents, food grade lubes and wrapping papers will trigger the demand.
Textile white oil market is anticipated to grow around 2% up to 2024. Growing demand for fabrics and apparel & garments particularly in Asia-Pacific region will drive the market. Increasing usage as an anti-wear, anti-oxidant and anti-rust lubricant in sewing machines will further fuel the industry growth.
White oil market size will witness significant gains from other applications including agriculture, bakery, adhesive, housecleaner and stainless steel. Dust control and protection of harvests & horticultural applications through product spraying will propel the industry growth. Elementary product ingredients are mixed with nutrients and other chemicals in agrochemical applications.
White Oil Market, By Region
Asia Pacific white oil market share is the major contributor accounting for more than 60% of overall product consumption. Rapid industrialization and urbanisation coupled with potential applications in food processing, agriculture and textile are the driving factors of the industry trends. Favourable regulations and government initiatives, for instance Pharma Vision 2020 in India for development in drug and pharmaceutical sector will support the revenue growth in this region.
MEA driven by South Africa and Saudi Arabia will witness CAGR around 2.6% up to 2024. Changing lifestyles and increasing consumption of value added personal care, cosmetic and polymer products will propel the industry demand. Rising global demand for white oil along with large petroleum reserves and polymer production base will enhance the regional demand.
North America white oil market will witness growth over 2.7% up to 2024. Increasing spending on personal care applications coupled with rapid cosmetic industry expansion will create new avenues for industry growth. Technological advancements and product innovations by the leading players will drive the regional demand.
Europe will witness notable gains in the forecast period, owing to increasing application scope for high grade products in healthcare, food and packaging industry. Stringent regulations for cleaner and pure refined white oil will support the product development.
Competitive Market Share
Global white oil market share is highly fragmented with large presence of regional manufacturers mainly in the U.S., China and India. Exxon Mobil, Sinopec, British Petroleum, Sonneborn, Renkert, JX Nippon and Petro-Canada are the key industry players. Mergers, product portfolio expansion and product innovations are the major strategies adopted by the companies.
Other notable players include Sasol, Nynas AB, Seojin Chemical Co., Royal Dutch Shell N.V., TOTAL, Zhonghai Nnalin and Lubline. High barriers for new entrants exist due to the well-established companies and stable branding & positioning. Strong competition among the suppliers, blenders, importers and manufacturers is observed at various points in global value chain.
White Oil Industry Background
White oil is also referred as highly refined product that is manufactured using naphthenic and paraffinic hydrocarbons. It is the liquid by-product of the petroleum refined for gasoline and other petroleum products. It is broadly used in cosmetics, mechanical, industrial, biomedicine and food preparation applications.
Crude oil usage largely varies by product with wide range of composition including paraffin, carbon and hydrogen. Light petroleum, producing higher yield of gasoline observed greater demand in recent years. Fluctuating petroleum prices due to financial instability will influence the industry growth. Huge petroleum concentration in MEA and high shipping costs are also major factors impacting price trends.
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