White Oil Market Emerges as a Promising Sector, Witnessing Substantial Growth Amidst Diverse Industrial Applications – Says Market Report by RationalStat
Rationalstat LLC
9 min read
Rationalstat LLC
The global white oil market is anticipated to reach US$ 2.6 billion by 2030, with an annual growth rate of more than 5.4%, driven by growing industrial demand.
Wilmington, Delaware, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Global White Oil Market is valued at US$ 1.8 billion in 2023 and is expected to grow at a significant CAGR of over 5.4% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
White oils are commonly used in the pharmaceutical and cosmetic industries for their purity and lack of color or odor. As these industries continue to grow, the demand for white oils as ingredients in formulations for creams, lotions, ointments, and various pharmaceutical products is likely to increase.
The global population is increasing, and urbanization is on the rise. This leads to an increased demand for personal care and cosmetic products, which often contain white oils as essential ingredients. In addition, white oils are used in the food processing industry as lubricants, release agents, and anti-foaming agents. The expanding food industry, especially in emerging markets, contributes to the demand for white oils.
According to a deep-dive market assessment by RationalStat, the global white oil market has been analyzed on the basis of market segments, including application, type, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global white oil market covers market sizes on the basis of market value (US$/EUR Million) and volume (Liters) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global white oil market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
GlobalWhite Oil Market: Segmental and Market Share Analysis
On the basis of application, plastic manufacturing is anticipated to take up a significant share in the white oil market. In addition, personal care is anticipated to grow at a significant rate during the forecast period.
Report Synopsis
Report Metrics
Details
Base Year
2023
Forecast Period
2023-2030
Base Year Market Size
US$ 1.8 billion
Market Size Forecast
US$ 2.6 billion
Growth Rate
5.4%
Key Market Drivers
Expanding food processing industry
Rising demand for white oil in cosmetic and related products coupled with expanding cosmetic and personal care industry
Manufacturer and white oil brands adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global white oil market include,
In August 2022, Petro-Canada partnered with Palmer Holland. The partnership agreement involves Palmer acting as Petro-Canada’s distributor in the US for its PURETOL™ and KRYSTOL™ lines of white mineral product offerings.
Some of the prominent players and suppliers operating and contributing significantly to the global white oil market growth include Adinath Chemicals, RENKERT OIL, Exxon Mobil Corporation, ENEOS Corporation, Petro‐Canada Lubricants LLC, Shell, China Petrochemical Corporation, Sasol, Chevron, TotalEnergies, and FUCHS, among others.
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
