Besed on application White Oil Market growth in food, adhesives, paper, bakery, precision machinery, cement, wood and textile industries. Increased product usage in consumer goods including food packaging, coating on vegetables, animal food and medications will drive white oil market demand size. Technical grade white oil approved by the FDA are used in the food & beverage applications.
Potential applications as lubricator and moisturizer in personal care & cosmetics, textile and pharmaceutical industries will drive the white oil market. Excellent skin compatibility, low irritancy and bacterial resistivity with minimum environmental impacts are the key properties driving the product demand.
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Growth in product usage in food & meat packs, baby lubricants, cleansers and protective coating for fruits & vegetates will drive product scope in innovative applications. Furthermore, increased product usage as a basic ingredient in numerous consumer applications including home care solutions and thermoplastic elastomers.
Technological advancement in production process to ensure complete elimination of dust particles, and enhance purity, tasteless and odourless properties will propel the white oil market growth. Increasing product usage as gear lubricants, glossing agents, hydraulic fluid, rust prevention and de-foaming in several machineries will support the product demand.
Development in cosmetics industry including hair care & makeup products, cleansers, lotions, suntans, emollient creams and sunscreens will propel white oil market growth. Economic instability and fluctuating petroleum prices are the restraining factors of the industry growth.
Global white oil market is led by plastics & polymers with revenue valued over USD 450 million in 2015. High availability with broad range of stability, density and viscosity grades are the key factors driving the industry growth. Surge in demand for moulding agents, extrusion aids, extenders and elastomers in plastic production will fuel the product development.
Personal care & cosmetics white oil market will observe CAGR more than 2.5% up to 2024. Increasing application scope as a base ingredient in suntan lotions, skin creams and massage lubricant due to superior softness, smoothness, resistance to moistness and good lubricity will encourage industry demand.
Pharmaceutical white oil market is expected to witness growth over 2.8% up to 2024. Increase in demand for laxatives, emollients, ointments and several medical devices will support the industry demand.
Textile market is anticipated to grow over 2% by 2024. Rising demand for fabrics and apparels owing to the product application as an anti-oxidant, anti-rust and anti-wear lubricant in sewing machines, mainly in Asia Pacific will propel the white oil demand.
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Asia-Pacific dominated the white oil market with over 60% of the overall industry share in 2015. Growing agriculture, food processing and textile industry coupled with favourable government regulations will support the revenue growth in the region. Rapid industrialization along with rising manufacturing facilities are the major factor influencing the product demand.
North America white oil market is anticipated to observe growth at around 2.7% up to 2024. Increasing customer expenditure on cosmetic and personal care products along with expansion in the cosmetic industry will drive the product growth.
Global white oil market is highly fragmented owing to the presence of several regional as well as multinational players. Major industry players include Sinopec, ExxonMobil, Petro-Canada, JX Nippon, Sonneborn, Royal Dutch Shell and Nynas AB.
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