New York City, NY -- (SBWIRE) -- 04/11/2017 -- White Oil Market: Introduction

White oils are extremely refined mineral oils that are pure and versatile in nature. They are derived either from naphthenic base-stocks or paraffinic base-stocks. White oils comprise alicyclic nonpolar and saturated aliphatic hydrocarbons, and are chemically and biologically stable, tasteless, odourless, inert, and colourless. They do not change colour over time. Attributing to these physic-chemical properties, white oils are used in a variety of applications, such as pharmaceutical, food, personal care, etc. White oils resist moisture, and are used to provide lubrication, smoothness, and softness in many formulation processes. White oils are available in many grades, such as USP grade and food grade. Based on their grade, they are used in baby oils, creams & lotions, egg shell sealants, liquid soaps, animal vaccines, etc. White oils are used in applications where products come in direct contact with human skin.

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White Oil Market: Dynamics

The growing pharmaceutical and personal care industry, coupled with the rising demand for personal care products in the global market has led to an increase in the demand for white oils. This demand is further expected to rise from pharmaceutical and personal care products, owing to the kosher and halal certification received by while oil. It is expected that that a change in customer taste in the personal care industry will affect growth of the white oil market during the forecast period. Moreover, the demand for white oil is increasing, owing to the strong moisture resistance it offers, which will further boost the market during the forecast period. Increasing use of white oil in manufacturing of elastomers and adhesives will help drive the global market during the forecast period. Furthermore, an increase in demand for white oil in the food processing industry, coupled with the halal and the kosher certification, has resulted in a rise in its demand. Apart from this, fluctuation in oil prices has significantly hampered growth of the while oil market. Additionally, use of white oil in new applications, such as in the phytosanitary industry, animal vaccines, etc. will boost growth of the white oil market.

White Oil Market: Segmentation

On the basis of grade, the global white oil market is segmented into:

- Pharmaceutical Grade
- Technical Grade
- Other

On the basis of application, the global white oil market is segmented into:

- Agriculture
- Adhesives
- Food
- Textile
- Personal Care
- Polymers
- Pharmaceutical
- Others

White Oil Market: Regional Outlook

The global white oil market is mainly dominated by the Asia-pacific (APAC) region, with a significant increase in the consumption of white oils. Growth of pharmaceutical and personal care industries in APAC is prompt, and the region has a growing demand for personal care products and cosmetics, which in turn have increased the region's consumption of white oils. APAC is estimated to dominate the market and is projected to register a healthy CAGR over the forecast period. North America is second in line, in terms of white oil consumption and production. It is anticipated that growth of the white oil market in North America will be significant over the forecast period. Europe is expected to register steady growth during the same time frame. The Middle East & Africa region is expected see substantial growth during the forecast period, owing to increasing economic growth, along with a vast polymer production base and increasing consumer priority toward various luxury personal care products. In Latin America, growth of the white oil market is expected to be at a slow pace over the forecast period.

White Oil Market: Market Participants

Some of the examples of key market participants in the global white oil market, identified across the value chain are British Petroleum, Exxon Mobil Corporation, Renkert Oil Inc., Seojin Chemical Co. Ltd., Sonneborn Inc., Nynas AB, Royal Dutch Shell N.V., Petro-Canada, JX Nippon Oil & Energy Corporation, Sasol and others. Manufacturers are putting efforts to strengthen their market presence by launching value added products, technology licensing and acquiring, and developing a reliable distribution network.

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