The increasing demand from the industry of cosmetics and personal care products is a primary reason that is driving expansion in the market for white oil. In hand and body care cosmetics, white oil is most commonly used in concentrations ranging from 1% to 99%, depending on the requirements of the product. To provide just a few examples, pressed powders, mascara, eyeliner, and foundations can include up to sixty percent white oil, while eye make-up removers typically contain ninety-nine percent white mineral oil.A further important element that is driving growth in the white oil market is the expansion of the pharmaceutical industry. According to AstraZeneca, there has been a discernible upward trend in the global sales of pharmaceuticals since the year 2013 itself. The overall sales for the year 2021 amounted to USD 1,186 billion, which is an increase of about 8% in comparison to the total sales for the year 2020, which amounted to USD 1,101 billion. In addition, according to the annual report of AstraZeneca, the pharmaceutical market in Latin America and the Indian Subcontinent is expected to develop at the greatest rates until 2025, with 12.6% and 10.9% respectively.
The global White Oil Market size was valued at USD 2106.80 Mn in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.61% from 2022 to 2030.
Leading Companies in the White Oil Industry:
1. Bharat Petroleum Corporation Ltd.
Bharat Petroleum Corporation Ltd.was founded in 1952 and its headquarter Mumbai india. The company operates in 15 countries. In 2023 Oil marketing company (OMC) Bharat Petroleum Corp Ltd on Monday said it is planning to raise up to ₹1,500 crore during the current fiscal
2. Calumet Specialty Products Partners
Calumet Specialty Products Partners, founded in 1916, and it’s located in Indianapolis, Indiana, United States.The company operates in 90 Countries. Calumet is a leading producer of lubricating oils, white oils solvents, waxes and branded products used in consumer
3. China Petrochemical & Chemical Corporation (Sinopec)
China Petrochemical & Chemical Corporation (Sinopec) was launch in 1998 and it’s headquarter located in Chaoyang District, Beijing, China.it operate over 25 country and.
4 Columbia Petro Chem Pvt Ltd.
Columbia Petro Chem Pvt Ltd. was launch in 1987 and it’s headquarter located Maharashtra, India..it operate over 13 country. Varied portfolio of pharmaceutical grade white oils, liquid paraffins and transformer oils .
5 Exxon Mobil Corporation
Exxon Mobil Corporation was founded 1999, with its headquarters in Irving, Texas, United States. With businesses in over 200 countries. ..
6. H&R GROUP,
H&R GROUP,Was launch in 1997. and its headquarter Germany. it operate over 17 country.
7. HF Sinclair Corporation
HF Sinclair Corporationwas launch in 1997 and it’s headquarter located Dallas, Texas, United States.it operate over 80 country. In2023 HF Sinclair Corp. has submitted a non-binding proposal to acquire midstream MLP Holly Energy Partners LP.
8. Nynas AB,.
Nynas AB,. Was launch in 1928. And its headquarter Stockholm, Sweden. It operate over 30 country.
More Insights:
*Definition- The pharmaceutical business uses white mineral oil extensively. It is employed in the creation of emollients, ocular lubricants, and penicillin. Other medicines, including laxatives, are also made with it. It is also a necessary component in the production of polymers. It is a useful material for numerous applications due to its qualities, which include lubricity and moisture avoidance.
