White Oil Market Size, Latest Updates And Forecast 2028
Added: (Thu Sep 22 2022)
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At 3.7% CAGR, the White Oil Market is estimated to accumulate US$ 2688.01 million by 2028, says The Insight Partners
The scope of our recent study, titled "White Oil Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Grade (Food, Pharmaceutical, and Technical), and Application (Personal Care and Cosmetics, Pharmaceutical and Healthcare, Food Industries, Plastic Processing, Agriculture, and Others)" includes the factors fueling the white oil market growth, revenue estimation, and market share analysis. It also entails the identification of significant market players along with their key developments.
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The white oil market is projected to reach US$ 2688.01 million by 2028 from US$ 2030.13 million in 2021. It is expected to grow at a CAGR of 3.7% from 2021 to 2028.
White oil is a highly refined mineral oil that is extremely pure, stable, colorless, odorless, non-toxic, and chemically inert. All these factors of white oil make them suitable for application that values these properties, in applications such as pharmaceuticals, cosmetics, and chemical processing. In plastic industry it is used in the manufacturing of polystyrene and in food industry it is also employed for production of packaging, which is used in the packaging fruits and vegetables, food preservatives, etc. The increasing consumer demand for packed food products due to a shift in eating habits and the transformation of lifestyles has positive impact on white oil market demand. The white oil is used in the production of adhesives for food packaging, in food packaging white oil is used to produce packaging from polymers. Technical white oil mineral is permitted as an indirect food additive in various food contact materials, including adhesives. It is also used as a defoaming agent component in paper and paperboard packaging. White oil is used in hot melt adhesives, wherein it acts as a diluent for ensuring material transparency when it is used in cosmetics or food packaging.
By grade, the market is segmented into food, pharmaceutical, and technical. By application, the market is segmented into personal care and cosmetics, pharmaceutical and healthcare, food, plastic processing, agriculture, and others. The personal care and cosmetics segment held the largest market share in 2021. The increasing adoption of white oil for the formulation of various cosmetic and personal care products due to its high hydrophobicity is one of the major factors driving the demand for white oil in the cosmetic industry. The product is also used to make lotions resistant to water due to its high hydrophobicity. Because of the product's inertness toward other chemicals in contact, color stability, and absence of odor, white oil is used as a softening agent or emollient in creams. Additionally, white oil is utilized as a base ingredient and emollient while processing various personal care products.