White Oil Market Size

White Oil Market Size

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.

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 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.
 

The adoption of innovative technologies and increase in the adoption of group II base oil by various manufacturers have positively impacted the global white oil market share. Lubrication professionals widely use them as both synthetic and mineral-based lubricants in their plants. White oils are also utilized in the manufacturing of specialty adhesives and elastomers due to their water- and moisture-resistant properties, which will fuel the market expansion.