WHITE OIL MARKET ANALYSIS

White Oil Market Size and Trends

The global white oil market is estimated to be valued at USD 1.74 Bn in 2024 and is expected to reach USD 2.41 Bn by 2031, growing at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031.

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Factors such as increasing application in personal care products such as makeup remover, skin creams, and moisturizers is expected to drive the market growth. Further, rapid urbanization coupled with rising disposable income of consumers is also anticipated to augment the demand for white oil. New product launches catering to skin and hair care needs of the evolving demographic are projected to present lucrative opportunities for the players in the white oil industry. However, stringent regulations regarding mineral oil in personal care may hamper the market growth during the analysis period.

 Rising Industrial Applications

The white oil market has been witnessing significant growth over the past few years due to its extensive industrial applications. White oil or mineral oil is used across various industries such as paints and coatings, pharma and cosmetics, food, and polymers among others. In the paints and coatings industry, white oil acts as a plasticizer and extender to improve gloss, flexibility, and durability of the finished paint product. It is also used as a rust preventive oil in the metalworking industry. Pharmaceutical and cosmetic companies utilize white oil as an emollient and lubricant in ointments, lotions, makeup products, and others. The widespread use of white oil has been rising due to its superior properties such as high thermal and oxidative stability, transparency, and colorlessness. Manufacturers are also favoring white oil as it provides a cost-effective solution for various industrial applications compared to alternatives. With rapid industrialization and growing consumption across diverse industries globally, the demand for white oil is expected to proliferate in the coming years.

The usage of personal care products globally has seen significant rise in recent years which has propelled the demand for white oil as a key ingredient. White oil, which is a by-product of petroleum refining, is used as a base in numerous cosmetic and topical formulations due to its non-allergenic, non-toxic and moisturizing properties.  Rising health awareness coupled with increasing disposable incomes have led to higher spending on skin, hair, dental and other hygiene products across regions. According to estimates by the World Health Organization, people are spending more on personal hygiene items that promise skin nourishment and care. This surge in preventive healthcare approach has boosted the white oil market. Skin care segments such as moisturizers, sunscreens and anti-aging creams constitute the major application areas. Furthermore, growing obsession with appearance and physical beauty worldwide has fueled the cosmetics business.  Changing lifestyles, especially in developing nations, along with growing media influence have also heightened self-grooming and aesthetics. The millennial population is increasingly experimenting with innovative personal care styles and trends. This evolving consumer demographic will keep propelling novel product launches utilizing white oil as the vehicle. Looking ahead, sustained expansion of e-commerce and direct-to-consumer brands is likely to open newer opportunities. However, concerns around petrochemical synthesis might impact commercialization prospects to a degree.  Overall, as the global populace becomes more affluent and image-conscious in the future, their spending on grooming and skincare essentials is expected to remain robust. This will ensure continued healthy demand for white oil from the personal care industry.