White Oil Market Size & Share, by Grade (Food, Pharmaceutical, Technical), Application (Plastics & Polymers, Pharmaceuticals, Personal Care & Cosmetics, Food Industry, Textile), Region Regional Forecast, Industry Players, Growth Statistics Report 2024-2033

Market Outlook:

White Oil Market size exceeded USD 2.1 Billion in 2023 and is anticipated to cross USD 3.45 Billion by 2033, registering a CAGR of more than 2.2% during the forecast period. Environmental concerns, changes in industrial demand, and technological improvements can all have an impact on the white oil market. Since white oils are made from crude oil, changes in crude oil prices can also have an impact on market dynamics.

White oil production and use are governed by a number of laws and standards to guarantee its safety and purity, particularly in sectors like food and pharmaceuticals. White oils are used in the food sector as a releasing agent in baking applications and as a lubricant for food processing machinery. They are thought to be secure for accidental food contact. Due to its skin-friendly qualities, white oils are used in cosmetics and personal care items including lotions, creams, and baby oil.

• Base Year Value (2023): USD 2.1 Billion
• CAGR (2024-2033): 2.2%
• Forecast Year Value (2033): USD 3.45 Billion
• Historical Data Period: 2019-2022
• Largest Region: North America
• Forecast Period: 2024-2033

Market Dynamics:

Growth Drivers and Opportunities:

Growth of personal care and cosmetics segment to propel the market growth

Globally, the personal care and cosmetics sector has experienced consistent expansion as a result of factors like rising disposable incomes, rising interest in skincare, and shifting beauty trends. The demand for premium cosmetic components like white oil has increased as a result of this rise. White oils made from natural or plant sources have also been produced by several businesses in response to the growing demand for organic and natural cosmetics, which is helping this market grow. More and more customers are looking for skincare and cosmetics with few additives and substances that are regarded as friendly and safe for the skin. White oil fits in with these tastes. White oils are vital for the shelf life of cosmetic products since they are chemically stable and do not easily oxidise or get rancid.

Expansion of elastomers and plastics to drive the market

White oils don't easily evaporate at standard temperatures because of their low volatility. To guarantee the long-term stability and performance of the materials, this property is crucial in both plastic and elastomer applications. White oils are used in the plastics sector to create food packaging products including cling film and food-grade containers. They are ideal for direct contact with food due to their inertness and inherent safety. White oils are used to make pharmaceutical packaging materials, such as blister packs, where they assist preserve the quality of the drug and stop oxygen and moisture from getting inside. The need for white oils is anticipated to increase as the plastics and elastomers sector continues to create new products and uses.

Report Scope

Report Coverage	Details
Segments Covered	Grade, Application
Regions Covered	• North America (United States, Canada, Mexico)   • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe)   Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC)   • Latin America (Argentina, Brazil, Rest of South America)   • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Eastman Chemical Company, Asian Oil Company, China Petroleum & Chemical Corporation (Sinopec), Adinath Chemicals, Lanxess, Chevron USA Inc., Exxon Mobil Corporation, Savita Oil Technologies Limited, Nandan Petrochem Ltd., Sonneborn LLC, RENKERT OIL, Royal Dutch Shell Plc, Castrol Limited, Lodha Petro, TOTAL ENERGIES

 

Industry Restraints & Challenges

Fluctuations in the crude oil prices

The main fundamental component used to produce white oil is crude oil. The cost of producing white oils is directly impacted by rising crude oil prices. White oil producers may incur increased production expenses if the price of raw materials rises dramatically. Since crude oil prices are notoriously unpredictable, it can be difficult for producers of white oil to predict their production costs precisely. Profit margins and the stability of the market as a whole might be affected by abrupt and unforeseen price swings.  The supply chain for producers of white oil can be affected by abrupt fluctuations in crude oil prices. In reaction to changes in the market, suppliers may alter their pricing or raw material availability, which can make it difficult to maintain constant output.

Regional Forecast:

North American Market

North America is anticipated to dominate the White Oil market from 2024 to 2033. One of the world's biggest markets for white oils is North America. The demand for high-purity and secure ingredients across a range of industries, including pharmaceuticals, cosmetics, and food processing, has led to the market's consistent rise over the years. White oils are widely used in North American personal care and cosmetics products. Lotions, creams, ointments, and makeup products all contain these oils, which are utilised in a variety of skincare and cosmetic goods. The white oil market in North America is competitive, with a number of well-known suppliers and manufacturers meeting the various demands of industries. To satisfy certain industrial requirements, these businesses might create white oils in a variety of grades and viscosities.

Asia Pacific Market

Asia Pacific White Oil market will exceed USD 1.73 billion through 2033. One of the biggest and fastest-growing markets for white oils worldwide is the Asia-Pacific area. Recent years have seen significant market growth, which has been fueled by factors such quick industrialization, population expansion, and growing consumer awareness of product safety and quality. White oils are widely used in the Asia-Pacific personal care and cosmetics industries. Lotions, creams, ointments, and makeup products all contain these oils, which are utilised in a variety of skincare and cosmetic goods. White oils are essential to the Asia-Pacific region's food processing industry. In a variety of food applications, including food packing and processing machinery, they serve as lubricants, release agents, and protective coatings.

Segmentation Analysis:

Insights by Grade

The pharmaceutical segment is anticipated to reach USD 862.5 million, by 2033. In the pharmaceutical segment, white oils are frequently used as lubricants, particularly when making tablets and capsules. In order to provide smooth and reliable tablet manufacture, they aid in preventing granules or powder from adhering to the surfaces of tablet punches and dies during the compression process. The development of novel drugs and therapies, an ageing population, rising healthcare spending, and other reasons all contribute to the pharmaceutical industry's continued growth on a global scale. The need for medicinal excipients such white oils is driven by this rise. The demand for over-the-counter (OTC) pharmaceutical goods, dietary supplements, and topical medications—all of which may contain white oils—has increased as a result of rising consumer awareness of health and wellbeing.

Insights by Application

The personal and cosmetic products segment is projected to grow by 3.3% between 2024 to 2033. White oils can be used in skincare and cosmetic products because they have no flavour, odour, or colour. They are great for formulations that are applied to the skin since they are non-comedogenic, which means they do not clog pores. Globally, the market for personal care and cosmetics is thriving and expanding. Consumer demand for a wide variety of personal care and cosmetic items is being driven by rising disposable incomes, shifting beauty trends, and an emphasis on wellness and self-care. Natural and organic personal care and cosmetics are becoming more popular. To meet this need, some white oil producers have introduced natural or plant-derived white oils.

Competitive Landscape:

Major players in the market

• Eastman Chemical Company
• Asian Oil Company
• China Petroleum & Chemical Corporation (Sinopec)
• Adinath Chemicals
• Lanxess
• Chevron USA Inc.
• Exxon Mobil Corporation
• Savita Oil Technologies Limited
• Nandan Petrochem Ltd.
• Sonneborn LLC
• RENKERT OIL
• Royal Dutch Shell Plc
• Castrol Limited
• Lodha Petro
• TOTAL ENERGIES