The Global White Oil Market size is expected to reach $2.2 billion by 2031, rising at a market growth of 4.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,243.79 kilo tonnes, experiencing a growth of 16.9% (2020-2023).
White oils, also known as mineral oils or liquid paraffin, are widely used in skincare and cosmetics formulations due to their excellent emollient and moisturizing properties. The personal care and cosmetics segment held 31.7% revenue share in the market in 2023. In terms of volume the cosmetics & personal care segment attained a volume of 373.98 kilo tonnes in the market 2023. They serve as base oils in various products such as lotions, creams, moisturizers, and makeup removers.
Refining and purification processes are continually refined to achieve higher purity levels in white oils. Advanced filtration techniques, such as molecular distillation and hydrotreating, enable the removal of impurities, contaminants, and undesirable components, resulting in white oils with superior clarity, cleanliness, and consistency.
Additionally, they are commonly used as carriers, solvents, and diluents in liquid and semi-solid medications such as oral suspensions, syrups, and topical preparations. Thus, these factors will boost the demand for it in the upcoming years.
However, the volatility heavily influences the market in crude oil prices, as white oils are derived from crude oil through refining. Fluctuations in crude oil prices can significantly impact the cost of production for white oils, affecting profit margins and pricing strategies within the industry. Therefore, these factors will hamper the growth of the market.
By Grade Analysis
On the basis of grade, the market is bifurcated into technical and pharmaceutical. The pharmaceutical segment recorded 41.2% revenue share in the market in 2023. In terms of volume the pharmaceutical segment would attain a volume of 752.77 kilo tonnes in the market 2029.
By Application Analysis
Based on application, the market is segmented into plastic & polymer, pharmaceutical, food industry, cosmetics & personal care, textiles, and others. In 2023, the plastic and polymer segment garnered 14.4% revenue share in the market. In terms of volume the plastic and polymer segment would attain a volume of 261.72 kilo tonnes by 2030.
By Regional Analysis
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe region acquired 17.3% revenue share in the market. In terms of volume, the Europe region would attain a volume of 268.33 kilo tonnes by 2031.
List of Key Companies Profiled
- Castrol Ltd. (BP P.L.C.)
- Sinopec Group (China Petrochemical Corporation)
- Eastman Chemical Company
- Exxon Mobil Corporation
- Lanxess AG
- Shell plc
- TotalEnergies SE
- Indian Oil Corporation Ltd.
- Sasol Limited
- Reliance Petrochem Industries (Pvt) Limited
Global White Oil Market Report Segmentation
By Grade (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Cosmetics & Personal Care
- Food
- Pharmaceutical
- Plastic & Polymer
- Textile
- Others
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Global White Oil Market, by Grade
- 1.4.2Global White Oil Market, by Application
- 1.4.3Global White Oil Market, by Geography
- 1.5Methodology for the research
Chapter 2.Market at a Glance
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 4.Global White Oil Market by Grade
- 4.1Global Technical Market by Region
- 4.2Global Pharmaceutical Market by Region
Chapter 5.Global White Oil Market by Application
- 5.1Global Cosmetics & Personal Care Market by Region
- 5.2Global Food Market by Region
- 5.3Global Pharmaceutical Market by Region
- 5.4Global Plastic & Polymer Market by Region
- 5.5Global Textile Market by Region
- 5.6Global Others Market by Region
Chapter 6.Global White Oil Market by Region
- 6.1North America White Oil Market
- 6.1.1North America White Oil Market by Grade
- 6.1.1.1North America Technical Market by Country
- 6.1.1.2North America Pharmaceutical Market by Country
- 6.1.2North America White Oil Market by Application
- 6.1.2.1North America Cosmetics & Personal Care Market by Country
- 6.1.2.2North America Food Market by Country
- 6.1.2.3North America Pharmaceutical Market by Country
- 6.1.2.4North America Plastic & Polymer Market by Country
- 6.1.2.5North America Textile Market by Country
- 6.1.2.6North America Others Market by Country
- 6.1.3North America White Oil Market by Country
- 6.1.3.1US White Oil Market
- 6.1.3.1.1US White Oil Market by Grade
- 6.1.3.1.2US White Oil Market by Application
- 6.1.3.2Canada White Oil Market
- 6.1.3.2.1Canada White Oil Market by Grade
- 6.1.3.2.2Canada White Oil Market by Application
- 6.1.3.3Mexico White Oil Market
- 6.1.3.3.1Mexico White Oil Market by Grade
- 6.1.3.3.2Mexico White Oil Market by Application
- 6.1.3.4Rest of North America White Oil Market
- 6.1.3.4.1Rest of North America White Oil Market by Grade
- 6.1.3.4.2Rest of North America White Oil Market by Application
- 6.2Europe White Oil Market
- 6.2.1Europe White Oil Market by Grade
- 6.2.1.1Europe Technical Market by Country
- 6.2.1.2Europe Pharmaceutical Market by Country
- 6.2.2Europe White Oil Market by Application
- 6.2.2.1Europe Cosmetics & Personal Care Market by Country
- 6.2.2.2Europe Food Market by Country
- 6.2.2.3Europe Pharmaceutical Market by Country
- 6.2.2.4Europe Plastic & Polymer Market by Country
- 6.2.2.5Europe Textile Market by Country
- 6.2.2.6Europe Others Market by Country
- 6.2.3Europe White Oil Market by Country
- 6.2.3.1Germany White Oil Market
- 6.2.3.1.1Germany White Oil Market by Grade
- 6.2.3.1.2Germany White Oil Market by Application
- 6.2.3.2UK White Oil Market
- 6.2.3.2.1UK White Oil Market by Grade
- 6.2.3.2.2UK White Oil Market by Application
- 6.2.3.3France White Oil Market
- 6.2.3.3.1France White Oil Market by Grade
- 6.2.3.3.2France White Oil Market by Application
- 6.2.3.4Russia White Oil Market
- 6.2.3.4.1Russia White Oil Market by Grade
- 6.2.3.4.2Russia White Oil Market by Application
- 6.2.3.5Spain White Oil Market
- 6.2.3.5.1Spain White Oil Market by Grade
- 6.2.3.5.2Spain White Oil Market by Application
- 6.2.3.6Italy White Oil Market
- 6.2.3.6.1Italy White Oil Market by Grade
- 6.2.3.6.2Italy White Oil Market by Application
- 6.2.3.7Rest of Europe White Oil Market
- 6.2.3.7.1Rest of Europe White Oil Market by Grade
- 6.2.3.7.2Rest of Europe White Oil Market by Application
- 6.3Asia Pacific White Oil Market
- 6.3.1Asia Pacific White Oil Market by Grade
- 6.3.1.1Asia Pacific Technical Market by Country
- 6.3.1.2Asia Pacific Pharmaceutical Market by Country
- 6.3.2Asia Pacific White Oil Market by Application
- 6.3.2.1Asia Pacific Cosmetics & Personal Care Market by Country
- 6.3.2.2Asia Pacific Food Market by Country
- 6.3.2.3Asia Pacific Pharmaceutical Market by Country
- 6.3.2.4Asia Pacific Plastic & Polymer Market by Country
- 6.3.2.5Asia Pacific Textile Market by Country
- 6.3.2.6Asia Pacific Others Market by Country
- 6.3.3Asia Pacific White Oil Market by Country
- 6.3.3.1China White Oil Market
- 6.3.3.1.1China White Oil Market by Grade
- 6.3.3.1.2China White Oil Market by Application
- 6.3.3.2Japan White Oil Market
- 6.3.3.2.1Japan White Oil Market by Grade
- 6.3.3.2.2Japan White Oil Market by Application
- 6.3.3.3India White Oil Market
- 6.3.3.3.1India White Oil Market by Grade
- 6.3.3.3.2India White Oil Market by Application
- 6.3.3.4South Korea White Oil Market
- 6.3.3.4.1South Korea White Oil Market by Grade
- 6.3.3.4.2South Korea White Oil Market by Application
- 6.3.3.5Singapore White Oil Market
- 6.3.3.5.1Singapore White Oil Market by Grade
- 6.3.3.5.2Singapore White Oil Market by Application
- 6.3.3.6Malaysia White Oil Market
- 6.3.3.6.1Malaysia White Oil Market by Grade
- 6.3.3.6.2Malaysia White Oil Market by Application
- 6.3.3.7Rest of Asia Pacific White Oil Market
- 6.3.3.7.1Rest of Asia Pacific White Oil Market by Grade
- 6.3.3.7.2Rest of Asia Pacific White Oil Market by Application
- 6.4LAMEA White Oil Market
- 6.4.1LAMEA White Oil Market by Grade
- 6.4.1.1LAMEA Technical Market by Country
- 6.4.1.2LAMEA Pharmaceutical Market by Country
- 6.4.2LAMEA White Oil Market by Application
- 6.4.2.1LAMEA Cosmetics & Personal Care Market by Country
- 6.4.2.2LAMEA Food Market by Country
- 6.4.2.3LAMEA Pharmaceutical Market by Country
- 6.4.2.4LAMEA Plastic & Polymer Market by Country
- 6.4.2.5LAMEA Textile Market by Country
- 6.4.2.6LAMEA Others Market by Country
- 6.4.3LAMEA White Oil Market by Country
- 6.4.3.1Brazil White Oil Market
- 6.4.3.1.1Brazil White Oil Market by Grade
- 6.4.3.1.2Brazil White Oil Market by Application
- 6.4.3.2Argentina White Oil Market
- 6.4.3.2.1Argentina White Oil Market by Grade
- 6.4.3.2.2Argentina White Oil Market by Application
- 6.4.3.3UAE White Oil Market
- 6.4.3.3.1UAE White Oil Market by Grade
- 6.4.3.3.2UAE White Oil Market by Application
- 6.4.3.4Saudi Arabia White Oil Market
- 6.4.3.4.1Saudi Arabia White Oil Market by Grade
- 6.4.3.4.2Saudi Arabia White Oil Market by Application
- 6.4.3.5South Africa White Oil Market
- 6.4.3.5.1South Africa White Oil Market by Grade
- 6.4.3.5.2South Africa White Oil Market by Application
- 6.4.3.6Nigeria White Oil Market
- 6.4.3.6.1Nigeria White Oil Market by Grade
- 6.4.3.6.2Nigeria White Oil Market by Application
- 6.4.3.7Rest of LAMEA White Oil Market
- 6.4.3.7.1Rest of LAMEA White Oil Market by Grade
- 6.4.3.7.2Rest of LAMEA White Oil Market by Application
Chapter 7.Company Profiles
- 7.1Castrol Ltd. (BP P.L.C.)
- 7.1.1Company Overview
- 7.1.2Financial Analysis
- 7.1.3Segmental and Regional Analysis
- 7.1.4Research & Development Expenses
- 7.1.5SWOT Analysis
- 7.2Sinopec Group (China Petrochemical Corporation)
- 7.2.1Company Overview
- 7.2.2Financial Analysis
- 7.2.3Research & Development Expenses
- 7.2.4Recent strategies and developments:
- 7.2.4.1Partnerships, Collaborations, and Agreements:
- 7.2.5SWOT Analysis
- 7.3Eastman Chemical Company
- 7.3.1Company Overview
- 7.3.2Financial Analysis
- 7.3.3Segmental and Regional Analysis
- 7.3.4Research & Development Expense
- 7.3.5SWOT Analysis
- 7.4Exxon Mobil Corporation
- 7.4.1Company Overview
- 7.4.2Financial Analysis
- 7.4.3Segmental and Regional Analysis
- 7.4.4Research & Development Expenses
- 7.4.5SWOT Analysis
- 7.5Lanxess AG
- 7.5.1Company Overview
- 7.5.2Financial Analysis
- 7.5.3Segmental and Regional Analysis
- 7.5.4Research & Development Expenses
- 7.5.5SWOT Analysis
- 7.6Shell plc
- 7.6.1Company Overview
- 7.6.2Financial Analysis
- 7.6.3Segmental and Regional Analysis
- 7.6.4Research & Development Expenses
- 7.6.5SWOT Analysis
- 7.7TotalEnergies SE
- 7.7.1Company Overview
- 7.7.2Financial Analysis
- 7.7.3Segmental and Regional Analysis
- 7.7.4Research & Development Expenses
- 7.7.5SWOT Analysis
- 7.8Indian Oil Corporation Ltd.
- 7.8.1Company Overview
- 7.8.2Financial Analysis
- 7.8.3Segmental and Regional Analysis
- 7.8.4Research & Development Expenses
- 7.8.5SWOT Analysis
- 7.9Sasol Limited
- 7.9.1Company Overview
- 7.9.2Financial Analysis
- 7.9.3Segmental and Regional Analysis
- 7.9.4Research & Development Expenses
- 7.9.5SWOT Analysis
- 7.10.Reliance Petrochem Industries (Pvt) Limited
- 7.10.1Company Overview
- 7.10.2SWOT Analysis
Chapter 8.Winning Imperatives of White Oil Market