White Oil Market Research
The term white oil industry typically refers to the production, refining, and distribution of various refined petroleum products that are colorless & odorless.
NEW CASTLE, DELAWARE, UNITED STATES, September 27, 2023 /EINPresswire.com/ — The term white oil industry typically refers to the production, refining, and distribution of various refined petroleum products that are colorless, odorless, and highly purified. These products are also known as “white oils” or “mineral oils” and are used in a wide range of applications, primarily for their lubricating, cosmetic, pharmaceutical, and food-grade properties.
According to the report published by Allied Market Research, the global white oil industry was estimated at $2.2 billion in 2021 and is expected to hit $3.1 billion by 2031, registering a CAGR of 3.7% from 2022 to 2031.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/17846
𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐑𝐞𝐟𝐢𝐧𝐢𝐧𝐠: White oils are typically derived from crude oil through a refining process. This process involves removing impurities and undesirable components such as sulfur, aromatics, and heavy metals. The result is a highly refined and purified product with consistent properties.
Surge in demand from the plastic & polymer manufacturing sector wherein white mineral oils are widely used for producing polystyrene, polyolefins, thermoplastic elastomers, and other polymers drives the growth of the global white oil market. On the other hand, high costs associated with the formulation of white oil in personal care products, unavailability of quality white oil, volatility in prices of white oil, and others restrain the growth to some extent.
𝐔𝐬𝐞𝐬:
– Lubricants: White oils are often used as lubricants in various industries, including automotive, manufacturing, and food processing, where a non-toxic, stable, and odorless lubricant is required.
– Cosmetics and Pharmaceuticals: White oils are used in the formulation of cosmetics, personal care products, and pharmaceuticals. They are valued for their purity, hypoallergenic properties, and ability to act as a base for creams, lotions, and ointments.
– Food Industry: In the food industry, white oils are used as a food-grade lubricant, release agent, and as an ingredient in some food products, such as food-grade mineral oil used for cutting boards and utensils.
– Plastics and Polymers: Some white oils are used in the production of plastics and polymers as a processing aid or plasticizer.
– Regulations: Due to their applications in sensitive industries like pharmaceuticals and food, white oils are subject to strict regulations and standards to ensure purity and safety. Different grades of white oils are available, each designed for specific applications.
The pharmaceutical segment generated nearly three-fifths of the global white oil market revenue in 2021 and would lead the trail through 2031. The same segment would also display the fastest CAGR of 3.9% during the forecast period. The increasing severity of diseases has surged the R&D activities in the pharmaceutical sector where the pharmaceuticals grade white oil is widely used to produce various medicinal formulations. This factor drives the segment growth.
𝐏𝐚𝐜𝐤𝐚𝐠𝐢𝐧𝐠 𝐚𝐧𝐝 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧: White oils are typically packaged and distributed in bulk containers, drums, or smaller containers depending on the needs of the end-users. Distributors play a crucial role in supplying these products to various industries.
𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: The white oil industry is a global market, with demand coming from various sectors. The market size and demand can fluctuate based on economic conditions, industrial activity, and consumer preferences.
The pharmaceuticals segment held around one-third of the global white oil market revenue in 2021 and would maintain its dominance during the forecast period. The same segment would also display the fastest CAGR of 4.1% from 2022 to 2031. This is because both the developed & developing economies have augmented their expenditure on the development of the pharmaceutical sector, which in turn may augment the demand for white oil for producing a wide range of pharmaceutical formulations.
𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐚𝐧𝐝 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭: Research and development efforts in the white oil industry focus on improving the quality and performance of these oils, as well as finding new applications and ensuring compliance with evolving regulations.
Asia-Pacific held the major share in 2021, generating more than half of the global white oil market. The same region would also cite the fastest CAGR of 4.1% during the forecast period. This is due to rise in awareness regarding self-beauty and self-grooming activities where white oil is widely used to produce various cosmetic formulations such as baby oils, creams & shampoos, suntan oils, and others.
𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬: While white oils are generally regarded as safe and non-toxic, there are environmental concerns related to their disposal. Proper disposal and recycling methods are important to mitigate any negative environmental impacts.
𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲-
– Asian Oil Company
– TOTAL ENERGIES
– Castrol Limited
– China Petroleum & Chemical Corporation (Sinopec)
– Exxon Mobil Corporation
– Adinath Chemicals
– Lanxess
– Nandan Petrochem Ltd.
– Lodha Petro
– RENKERT OIL
– Chevron USA Inc.
– Lodha Petro
– Royal Dutch Shell Plc
– Savita
– Sonneborn LLC
– Eastman Chemical Company
𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬’ 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/white-oil-market/purchase-options
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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