IMARC Group, a leading market research company, has recently released a report titled “White Oil Market Report by Application (Adhesive, Agriculture, Food, Pharmaceutical, Personal Care, Textile, Polymers, and Others), and Region 2025-2033.” The study provides a detailed analysis of the industry, including the global white oil market size, share, trends, growth and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
White Oil Market Overview:
The global white oil market size reached USD 2.18 Billion in 2024 and is projected to reach USD 2.83 Billion by 2033, growing at a CAGR of 2.82% during the forecast period of 2025-2033. This steady growth is driven by its extensive use in sectors such as plastics, cosmetics, and pharmaceuticals, alongside increasing demand for personal care products. Innovations focusing on product safety and quality further fuel the market expansion.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Years: 2025-2033
White Oil Market Key Takeaways
- Current Market Size: USD 2.18 Billion in 2024
- CAGR: 2.82% (2025-2033)
- Forecast Period: 2025-2033
- The market is primarily propelled by rising demand in personal care, cosmetics, and pharmaceutical industries due to its safety and purity.
- Increasing industrial applications in adhesives and polymers also support growth.
- Asia Pacific leads the market, driven by rapid industrialization and growth in cosmetics and healthcare sectors, especially in India and China.
- Market players are investing in innovation to enhance product safety and eco-friendly, bio-based variants.
- Regulatory demands favor the use of high-quality, ultra-purified white oils, particularly in cosmetics and pharmaceuticals.
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Market Growth Factors:
Major factors should grow the global white oil market with growing demand from major end-use industries for personal care and cosmetics plus pharmaceuticals. These factors include increased consumption of white oil in industrial applications like adhesives, polymers, and coating additives given superior purity and safety. In addition, awareness grows about health and regulatory changes mandate the use of high-quality and safer ingredients. This is expected to drive demand for white oils across the globe.
In the market, bio-based grades of white oils are experiencing large growth because of a focus on sustainability. Renewable feedstocks and new refining technologies are innovative approaches that lead to lower toxicity and high-purity white oils. These oils are better suited for use within cosmetics and pharmaceutical products. Because demand for organic and clean label products increased, regulatory compliance drives formulation to improve.
Industry growth is being hampered by regulatory requirements, volatility in crude oil prices, and the introduction of bio-based and renewable feedstocks and sustainable production technologies with lower carbon footprints. However, each of these factors is also creating opportunities for market growth. In emerging economies, the rapidly growing personal care and pharmaceutical markets will also support the burgeoning white oil market and create meaningful growth opportunities.
Market Segmentation
Breakup By Application:
- Adhesive: Utilized as an ingredient enhancing adhesive formulations.
- Agriculture: Applied within agricultural products and processes.
- Food: Used in food-related applications requiring safe and pure oils.
- Pharmaceutical: Serves as a base for therapeutic creams and topical formulations.
- Personal Care: The largest segment, crucial for products like hair care, lotions, and creams due to its stability, purity, and non-toxicity.
- Textile: Used in textile processing and formulations.
- Polymers: Employed as a release agent, lubricant, and plasticizer in polymers like PVC, elastomers, and polyolefins, enhancing product functionality and compliance with safety standards.
- Others
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific holds the largest share in the white oil market, driven by increasing industrialization and the robust growth of cosmetics and healthcare infrastructure, particularly in India and China. The region’s expanding middle class and higher expenditure on medical and personal care products significantly boost white oil demand. Additionally, Asia Pacific’s growing demand for polymers further reinforces its leading position globally.
Recent Developments & News
In February 2024, CLG LLC launched the world’s largest white oil hydroprocessing plant for Hongrun Petrochemical Co., Ltd., in China, including a food-grade unit with a 200,000 metric ton per annum capacity and an industrial-grade unit with a 500,000 metric ton capacity. In July 2024, Gandhar Oil’s foreign subsidiary Texol Lubritech FZC signed a $45 million annual contract with Abu Dhabi National Oil Company (ADNOC) to manufacture, package, label, and supply products for ADNOC Distribution through 2026.
Key Players
- Bharat Petroleum Corporation Limited
- Calumet Specialty Products Partners L.P.
- China Petroleum & Chemical Corporation
- ExxonMobil Corporation
- H&R GmbH & Co. KGaA
- Nynas AB
- Petro-Canada Lubricants Inc. (Hollyfrontier Corporation)
- Renkert Oil Inc.
- Royal Dutch Shell Plc
- Sasol Limited
- Savita Oil Technologies Limited
- Total SE
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