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The global white oil market size reached approximately USD 1.50 billion in 2023. The market is projected to grow at a CAGR of 3% between 2024 and 2032.
White oils are highly refined oils made up of paraffinic or naphthenic base stocks. They are colourless, odourless mineral, or synthetic oils that are utilised in a spread of applications, are chemically and biologically stable, and don't allow pathogenic bacterial growth, which makes them a typical staple in numerous industry verticals.
The white oil market growth is driven by its growing applications in the pharmaceutical sector where white oils are used as bases for ointments, laxatives, and various topical formulations due to their purity and inertness. White oils are also readily used in the food sector as lubricants for machinery in food processing and as release agents for baking and food packaging materials. Their colourless, odourless, and tasteless properties, along with their compliance with food safety standards, make them ideal for these applications. Moreover, economic growth in emerging markets leads to increased demand for consumer goods, pharmaceuticals, food products, and industrial applications, all of which require white oils.
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Innovation in applications; e-commerce and online sales growth; technological advancements in production; and rising health and safety standards are the major trends impacting the white oil market expansion
Date | Company | Event |
Oct 2022 | Luberef | Luberef, the base oil subsidiary of Saudi Arabian Oil Co., is inaugurating a new speciality production plant in Yanbu, dedicated to producing transformer oil and white oil. |
Jan 2024 | Chevron Lummus Global LLC (CLG) | Chevron Lummus Global LLC (CLG) announced the launch of the largest white oil hydroprocessing unit globally for Hongrun Petrochemical (Weifang) Co., Ltd., located in Weifang, Shandong Province, China. |
Feb 2024 | Pakistan State Oil (PSO) | Pakistan State Oil (PSO), a state-run gas company, and a military engineering group entered into a memorandum of understanding to construct a white oil pipeline designed to carry petroleum products from Karachi to Peshawar. |
Trends | Impact |
Innovation in applications | Continuous innovation in the applications of white oil, such as in polymers, textiles, and agriculture, opens new avenues for white oil market development. |
E-commerce and online sales growth | The rise of e-commerce platforms has significantly impacted the distribution and sales of white oils, with personal care and cosmetics sector indulging in bulk buying via this channel. |
Focus on packaging innovations | As sustainability concerns grow, there is a trend toward developing more environmentally friendly packaging solutions for white oils. |
Technological advancements in production | Advances in refining and production technology have led to the availability of higher-purity white oils at a more competitive cost. |
Rising health and safety standards | This trend affects the market by pushing producers to ensure their products meet stringent regulatory requirements, particularly for applications in food, pharmaceuticals, and personal care products. |
The advancements in refining and production technology have enabled the creation of higher-purity white oils at more competitive costs. Modern refining techniques have become more efficient and effective, enabling manufacturers to produce white oils with higher purity levels. Techniques such as hydrocracking, hydrotreating, and solvent extraction remove more impurities and contaminants from the petroleum base stocks. The result is a product that is colourless, odourless, tasteless, and free of unwanted chemicals, making it safer and more acceptable for a wide range of applications, including in sensitive areas like food processing, pharmaceuticals, and cosmetics.
Chevron Lummus Global LLC (CLG), a renowned player in the oil and gas sector, made a significant announcement in January 2024 regarding the initiation of operations for the world's largest white oil hydroprocessing unit. This state-of-the-art facility has been established for Hongrun Petrochemical (Weifang) Co., Ltd., which is based in Weifang, Shandong Province, China. The facility's designation as the largest of its kind in the world underscores the significant scale and technological advancement that CLG and Hongrun Petrochemical are bringing to the white oil market.
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“White Oil Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Grade | Industrial Grade, Pharmaceutical Grade |
Product Type | Light Paraffinic, Heavy Paraffinic, Naphthenic |
Application | Personal Care and Cosmetic, Pharmaceutical, Adhesive, Textile, Polymers, Agriculture, Food and Beverage, Others |
Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
The light paraffinic segment maintains its dominance in the market due to its rising applications in multiple end-use sectors
Light paraffinic white oils typically hold the highest share in the white oil market. They are preferred for applications requiring oils with less tackiness and where easy application or absorption is necessary. They are widely used in the pharmaceutical, personal care, and food industries for products such as lotions, creams, and ointments, and as release agents in food packaging and processing. Their high purity and ability to meet stringent regulatory standards make them a preferred choice in sensitive applications, contributing to their dominant market share.
Meanwhile, heavy paraffinic white oils are commonly used in applications such as lubricants for machinery, protective coatings for fruits and vegetables, and in various industrial and automotive applications, thereby supporting the white oil market development. Their demand is driven by the need for high-performance lubricants and protective barriers in a range of industrial processes.
The personal care and cosmetic sector accounts for a major white oil market share due to its growing usage in hair care, skincare, and cosmetic products
The personal care and cosmetic sector occupies a significant market share as white oils are used as a base oil for products, like hair oils, hair creams, makeup products, facial creams, and body lotions. Rising demand for personal care products, coupled with the expanding personal care sector around the globe, has led to a rise in demand for white oils. Rising demand from the cosmetic sector due to the strong moisture-resistant properties of white oils is also expected to propel the market during the forecast period.
In the pharmaceutical sector, this oil is utilised in the manufacturing of ointments, emollients, and eye lubricants, and within the penicillin production process. White oil acts as an excipient in various medicinal formulations, where it is used to dilute the active ingredients, making them safer and more effective for patient use. Its inertness ensures that it does not interfere with the medicinal properties of the active ingredients.
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The market players are developing production facilities and establishing partnerships to gain a competitive edge in the market
Company | Founding Year | Headquarters | Operations |
Exxon Mobil Corporation | 1999 | Texas, United States | Exploration, production, refining, and marketing of oil and natural gas |
Royal Dutch Shell Plc | 1907 | Hague, Netherlands | Exploration, production, refining, and distribution of oil and natural gas |
Bharat Petroleum Corporation Limited | 1952 | Maharashtra, India | Exploration and production of oil, gas, and hydrocarbons |
Sonneborn LLC | 1903 | New Jersey, United States | Manufacture of high-purity speciality hydrocarbons and vegetable-based emollients |
Other major players in the white oil market include Sasol LTD, Petro-Canada Lubricants Inc., Panama Petrochem Ltd., and Apar Industries Ltd., among others; these companies are also involved in the exploration and production of oil.
The Asia Pacific region is the fastest-growing market for white oil. China is one of the largest consumers of white oil within the Asia Pacific region as the country is a key market for cosmetics and skincare products, globally. In India, the most important application of white oils lies within hairdressing, which may be a part of the cosmetics and private care sector. The general cosmetics and pharmaceutical sector accounts for around three-fourths of the white oil consumption within the country.
Although Japanese demographics are shrinking, a surge in consumer confidence and the demand from incoming tourists are driving the expansion of the cosmetics market and consequently the white oil. Moreover, due to the increasing demand for textiles, plastics polymers, cosmetics, pharmaceuticals, and adhesives, the white oil market is expected to grow during the forecast period.
The Middle East and Africa (MEA) is expected to witness sizeable growth in the forecast period. Many countries in the MEA region are experiencing industrial growth and diversification, and white oil is crucial in numerous industrial applications, including as a lubricant in manufacturing processes, in plastics and textiles, and in the production of personal care products. The ongoing industrial expansion increases the demand for white oil as a raw material and process agent.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Grade |
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Breakup by Product Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global White Oil Market Analysis
8.1 Key Industry Highlights
8.2 Global White Oil Historical Market (2018-2023)
8.3 Global White Oil Market Forecast (2024-2032)
8.4 Global White Oil Market by Grade
8.4.1 Industrial Grade
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Pharmaceutical Grade
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global White Oil Market by Product Type
8.5.1 Light Paraffinic
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Heavy Paraffinic
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Naphthenic
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global White Oil Market by Application
8.6.1 Personal Care and Cosmetic
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Pharmaceutical
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Adhesive
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Textile
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Polymers
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Agriculture
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Food and Beverage
8.6.7.1 Historical Trend (2018-2023)
8.6.7.2 Forecast Trend (2024-2032)
8.6.8 Others
8.7 Global White Oil Market by Region
8.7.1 North America
8.7.2 Europe
8.7.3 Asia Pacific
8.7.4 Latin America
8.7.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Price Analysis
12.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
12.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Exxon Mobil Corporation
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Royal Dutch Shell Plc
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Bharat Petroleum Corporation Limited
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Sonneborn LLC
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Sasol LTD
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Petro-Canada Lubricants Inc.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Panama Petrochem Ltd.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Apar Industries Ltd.
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Others
14 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global White Oil Market: Key Industry Highlights, 2018 and 2032
2. Global White Oil Historical Market: Breakup by Grade (USD Million), 2018-2023
3. Global White Oil Market Forecast: Breakup by Grade (USD Million), 2024-2032
4. Global White Oil Historical Market: Breakup by Product Type (USD Million), 2018-2023
5. Global White Oil Market Forecast: Breakup by Product Type (USD Million), 2024-2032
6. Global White Oil Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global White Oil Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global White Oil Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global White Oil Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America White Oil Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America White Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe White Oil Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe White Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific White Oil Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific White Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America White Oil Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America White Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa White Oil Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa White Oil Market Forecast: Breakup by Country (USD Million), 2024-2032
20. North America Historical Price Trends and Forecast 2018-2032
21. Europe Historical Price Trends and Forecast 2018-2032
22. Asia Pacific Historical Price Trends and Forecast 2018-2032
23. Latin America Historical Price Trends and Forecast 2018-2032
24. Middle East and Africa Historical Price Trends and Forecast 2018-2032
25. Global White Oil Market Structure
In 2023, the global white oil market attained a value of nearly USD 1.50 billion.
The market is projected to grow at a CAGR of 3% between 2024 and 2032.
The major drivers of the market include the rising demand from the cosmetic industry, manufacturing of specialty adhesives and elastomers, increasing application in food and dietary products, and the increasing demand for textiles and plastics polymers.
Rising demand for personal care products and the expanding pharmaceutical industry are the key industry trends propelling the market's growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Based on grade, the market can be divided into industrial grade and pharmaceutical grade.
On the basis of product type, white oil can be segmented into light paraffinic, heavy paraffinic and, naphthenic.
The white oil market can be broadly categorised based on its applications into personal care and cosmetic, pharmaceutical, adhesive, textile, polymers, agriculture, food and beverage, among others.
The major players in the market are Exxon Mobil Corporation, Royal Dutch Shell Plc, Bharat Petroleum Corporation Limited, Sonneborn LLC, Sasol LTD, Petro-Canada Lubricants Inc., Panama Petrochem Ltd., and Apar Industries Ltd., among others.
The global white oil market attained a value of nearly USD 1.50 billion in 2023, driven by the rising demand for personal care products. Aided by the expanding pharmaceutical industry and the increasing application in food and dietary products, the market is expected to witness further growth in the forecast period of 2024-2032, growing at a CAGR of 3%.
EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on grade, the market can be divided into industrial grade and pharmaceutical grade. On the basis of product type, white oil can be segmented into light paraffinic, heavy paraffinic, and naphthenic. The white oil market can be broadly categorised based on its applications into personal care and cosmetic, pharmaceutical, adhesive, textile, polymers, agriculture, and food and beverage, among others. The major regional markets for the white oil are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The major players in the industry are Exxon Mobil Corporation, Royal Dutch Shell Plc, Bharat Petroleum Corporation Limited, Sonneborn LLC, Sasol LTD, Petro-Canada Lubricants Inc., Panama Petrochem Ltd., and Apar Industries Ltd., among others.
EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.
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