Global White Oil Market is anticipated to reach USD 2.60 billion during the forecast period. White Oil is a colorless petroleum distillate, especially liquid paraffin, used therapeutically and in the plastic and food industries. The factors that propel the growth of the White Oil Market include vertical growth mainly in the developing countries. Global White Oil industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. The market may be explored by product type, application, grade type, and geography. The industry may be explored by product type as Naphthenic, light paraffinic, and Heavy paraffinic.
The key applications that could be explored in the white oil industry include Personal care and cosmetics, Polymers, Pharmaceutical, Textiles, Food and beverages, Adhesives, and Others. The “Pharmaceutical” segment led the White Oil Market in 2017 and is anticipated to maintain its dominance by 2024 owing to improved application as a lubricant in pharmaceutical industry instruments, base materials for ointments and oil and others. The White Oil industry could be explored based on grade type as Pharmaceutical, and Industrial.
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Asia-Pacific accounted for the major share of the White Oil Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include higher growth rate than the other regions, and development in agriculture, textile, cement industry.
Some of the key players that fuel the growth of the white oil industry comprise British Petroleum, Sasol, Sonneborn, Inc., Sinopec Corporation, Seojin Chemical Co., Ltd., Exxon Mobil Corporation, Nynas AB, Renkert Oil, Inc., Petro-Canada, JX Nippon Oil & Energy Corporation, and Royal Dutch Shell N.V. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
• Personal Care
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 – 2024)
• North America
• Asia Pacific
• South Korea
• Latin America
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/chemicals
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