The global white oil market is estimated to be valued at USD 1.74 Bn in 2024, growing at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031. The global white oil market has witnessed significant growth in the recent years. White oil refers to refined mineral oil or petroleum that undergoes minimal processing to remove contaminants and colorful compounds. It is colorless, odorless, and tasteless with applications across various industries such as personal care and cosmetics, pharmaceuticals, food processing, and others. Growing demand from personal care and cosmetics industry along with increasing spending on skincare and hair care products has been a key factor augmenting the demand for white oils. Additionally, rising focus on R&D activities to develop new application areas has further propelled the market growth. However, volatility in crude oil prices remains a major challenge. Still, ongoing initiatives towards capacity expansion and new product launches are expected to offer lucrative opportunities for market players over the forecast period.

 Market Dynamics:

Rising consumption of personal care products has been a key factor driving the growth of global white oil market. Personal care industry has witnessed tremendous expansion in both developed as well as developing economies on the back of changing lifestyles, increasing disposable incomes, and growing awareness about beauty and appearance. White oil, due to its excellent emollient properties and skin compatibility, is widely used as a base oil in formulations of various personal care products including skin care creams, lotions, and hair conditioners. Moreover, growing demand from the pharmaceutical industry has further augmented the product demand. However, fluctuations in crude oil prices remain a key challenge. Significant volatility in crude oil feedstock prices leads to inconsistent white oil prices impacting the profitability of end-use sectors. Nevertheless, ongoing R&D activities towards new production technologies and development of value-added grades are expected to offer lucrative opportunities for market players in the coming years.

 Key Features of the Study:

• This report provides an in-depth analysis of the global white oil market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global white oil market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Bharat Petroleum Corporation Ltd. (BPCL), Calumet Specialty Products Partners, China Petrochemical & Chemical Corporation (Sinopec), Columbia Petro Chem Pvt Ltd., Exxon Mobil Corporation, H&R GROUP, HF Sinclair Corporation, Nynas AB, Oxiteno (Indorama Ventures), Renkert Oil, Shell PLC, Sasol, Savita Oil Technologies Limited, VELVEX, Gandhar Oil Refinery (India) Limited, and Raj Petro Specialities Pvt. Ltd
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global white oil market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global white oil market

Detailed Segmentation-

• By Grade:
• • Technical/Industrial Grade
  • Pharmaceuticals Grade
• By Application:
• • Plastics and Elastomers
  • Adhesives
  • Personal Care & Cosmetics
  • Agriculture
  • Textile
  • Food and Beverage
  • Pharmaceutical
  • Metalworking Applications
  • Other Applications
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Bharat Petroleum Corporation Ltd. (BPCL)
  • Calumet Specialty Products Partners
  • China Petrochemical & Chemical Corporation (Sinopec)
  • Columbia Petro Chem Pvt Ltd.
  • Exxon Mobil Corporation
  • H&R GROUP
  • HF Sinclair Corporation
  • Nynas AB
  • Oxiteno (Indorama Ventures)
  • Renkert Oil
  • Shell PLC
  • Sasol
  • Savita Oil Technologies Limited
  • VELVEX
  • Gandhar Oil Refinery (India) Limited
  • Raj Petro Specialities Pvt. Ltd