Non-toxic ingredients in cosmetics and food are fuelling demand for the white oil market. Fact.MR Report
Non-toxic ingredients in cosmetics and food are fuelling demand for the white oil market. Fact.MR Report
The white oil market across the globe is supposed to be valued at US$ 1,983.1 million in 2024. Through 2034, the market is expected to expand at a credible rate with a CAGR of 3.8%. The white oil market is expected to soar in terms of value to US$ 2,879.5 million by 2034.
White oil demand relies on those industries utilizing the substance for manufacturing purposes. The cosmetics industry is among the major industries to use white oil. White oil utilization in a wide variety of cosmetic products, ranging from lip balm to diaper rash, is driving the market forward. White oil being non-toxic is a blessing for cosmetic producers.
Another major industry utilizing white oil is food & beverage. White oil's odorless and colorless nature, coupled with its stability, makes the product appealing to food manufacturers. With food consumption only destined to rise because of population growth, the white oil market has much to gain. Nonetheless, there are some hindrances, like fluctuations in raw material prices driven by hostilities in gas-producing areas, that complicate raw material sourcing and expensive. Substitutes, like vegetable oil, also take away from the demand for white oil.
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"The application of white oil varies, and the scope of the market is not limited to a specific sector. Textiles, pharmaceuticals, automobiles, and other industries use white oil. So, there are various paths of development in the market." states a Fact.MR analyst.
Key Takeaways from the Market Study:
In order to Be Competitive in the Fragmented White Oil Landscape, Market Players Eye Expansion
The white oil market is relatively fragmented, and the giants are competing with smaller companies for a share of the pie. A few high-end firms are also interested in acquisition to smoothen the process of value chain. Some leading firms in the industry are British Petroleum, Renkert Oil, Inc., ExxonMobil Corporation, and JX Nippon Oil & Energy Corporation.
Some of the recent developments in the market:
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Segmentation of White Oil Market Research:
By Product Type:
By Grade:
By Application:
Pharmaceutical
By Region:
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White oil is a colorless, odorless mineral oil used in various industries, including cosmetics and food, due to its non-toxic properties.
CAGR stands for Compound Annual Growth Rate, which measures the mean annual growth rate of an investment over a specified time period.
Naphthenic oils are a type of mineral oil derived from crude oil, commonly used in industrial applications and as a base for lubricants.
The cosmetics industry significantly drives the demand for white oil due to its non-toxic nature, making it suitable for various cosmetic products.
White oil is used in pharmaceuticals, personal care products, textiles, and food and beverage industries due to its stability and non-toxic properties.
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