White Mineral Oil Market by Product (Pharmaceutical Grade and Technical Grade), by End Use Industry (Healthcare, Beauty and Personal Care, Food and Beverages, Agriculture, Plastic, Textiles and Packaging) - Global Analysis & Forecast 2019-2030
Report ID : 158 | Published Date : May 2020 | Pages : 180 | Region : Global | Report Code : CM-16
White Mineral Oil Market Overview and Introduction
White oil or white mineral oil refers to a highly refined mineral oil that consists of saturated and alicyclic nonpolar hydrocarbons. These are colorless, tasteless, hydrophobic, and odorless and do not change color over a period of time. Due to their non-toxic and chemically inert properties, these mineral oils offer wider applications across different industries such as healthcare, food & beverage, beauty & personal care, textiles, and chemical industries.
One of the major factors driving the demand for white mineral oils is its growing use in the beauty & personal care industry as it offers an ideal blending base for different products. Due to its inert nature, white oils are easy to work with as they help to lubricate, soften, extend, and resist moisture in different formulations. These white oils are widely used in different beauty and cosmetic products such as makeup remover, sunscreen, hair conditioner, ointment, baby cream, and oil, among others. Increasing consumer focus on grooming and skincare is expected to propel the demand for white oils in the coming years.
However, volatility in the prices of white oil stands to be one of the major factors that can hamper market growth. For instance, in 2018, Calumet Penreco LLC increased the price of its products owing to rising raw material and operational costs. The company increased the price of its light viscosity white oils by US$0.25/gallon and heavy viscosity white oils by US$0.20/gallon.
The global white mineral oil market is segmented on the basis of product, end-use industry, and region.
White Mineral Oil Market By Product
Based on product, the white mineral market is segmented into pharmaceutical grade white oil and technical grade white oil. The pharmaceutical white grade white oil is expected to grow at a faster rate during the forecast period owing to its extensive use in healthcare, beauty & personal care, and food & beverage industries. In the pharmaceutical industry, white oil is used as a lubricant for laxative applications. Additionally, it is used as a base for ointments and creams as a carrier for solid & semi-solid ingredients and also functions as a separator in capsules and tablets. In addition to its use in human applications, white oil also finds applications in the animal/pet care industry; it is used for different therapeutic treatments.
White Mineral Oil Market By End Use Industry
Based on end-use industry, white mineral oils find applications in beauty & personal care, food & beverage, agriculture, textiles, plastics, and various other industries.
White Mineral Oil Market By Region
The global white oil market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). APAC will continue to dominate the white oil market in the coming years owing to a high growth demand from countries such as China and India. The increasing demand from the personal care, textiles, and food & beverage industries stands to be among the major factors driving the demand for white oil in this region. Additionally, growing manufacturing hubs and higher economic growth compared to other regions are further supplementing market growth in this region. North America stands to be another major market for white mineral oil with the US accounting for over 75% of the market share in this region. The US stands to be the largest market for beauty & personal care and the pharmaceutical industries globally and the demand for white mineral oil is attributed to extensive use in cosmetics & medical products. Additionally, the presence of leading companies such as Calumet Specialty Products Partners, L.P, Exxon Mobil Corporation is expected to further propel the demand in this region.
White Mineral Oil Market Prominent Players
The major players operating in the white mineral oil market include The HollyFrontier Corporation, Renkert Oil Inc, H&R Group, Shanghai Lulu Industrial Co., Ltd, Phillips 66 Company, Exxon Mobil Corporation, Royal Dutch Shell PLC, Petroyag Lubricants, Eastern Petroleum, Calumet Specialty Products Partners, among others.