DUBLIN–(BUSINESS WIRE)–The “White Oil Market – A Global and Regional Analysis: Focus on Application, Functionality, Grade, Products, and Country Level Analysis – Analysis and Forecast, 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
The global white oil market, initially valued at $3.89 billion in 2024, is poised for substantial growth, projected to surge to $8.59 billion by 2034, marking a remarkable compound annual growth rate (CAGR) of 8.24% over the period from 2024 to 2034.
The white oil market encompasses a diverse range of highly refined, mineral-based oils used across various industries, including pharmaceuticals, cosmetics, food processing, and industrial applications. Driven by the increasing demand for purity and safety in product formulations, white oil serves as an essential ingredient in producing lotions, ointments, lubricants, and plasticizers. Innovations in refining processes have led to the development of white oils that meet stringent regulatory standards, including pharmaceutical-grade and food-grade variants.
Key market players, such as ExxonMobil, Sonneborn and Sasol, dominate the market, providing high-quality products that cater to the growing demand for safe, non-toxic ingredients. Additionally, rising awareness of sustainability and eco-friendly production practices has been shaping consumer preferences, pushing companies to adopt more sustainable manufacturing processes. The white oil market continues to evolve, driven by technological advancements and shifting consumer needs.
Industrial Impact
The white oil market has a significant industrial impact, driving substantial growth across several industries, such as pharmaceuticals, cosmetics, plastics, and food processing. Major players such as ExxonMobil, Sonneborn and Sasol invest heavily in production facilities, distribution networks, and research and development, stimulating economic activity and supporting a wide range of suppliers and service providers. The demand for highly refined mineral oils boosts technological advancements in refining processes and product formulation.
Additionally, the focus on product purity and safety fosters stringent quality control measures, impacting industries such as pharmaceuticals and cosmetics, where white oil is a crucial ingredient. The market’s emphasis on eco-friendly and sustainable practices drives investments in cleaner production methods, reducing the environmental footprint of white oil manufacturing. Overall, the white oil market plays a dynamic role in supporting industrial innovation and contributing to economic growth across multiple sectors.
Mineral White Oil Segment to Dominate the White Oil Market (by Product Type)
The white oil market, based on product type, is led by mineral white oil. It was valued at $2.67 billion in 2023 and is expected to be $6.08 billion in 2034. The mineral white oil segment has been growing due to its widespread applications across various industries, including pharmaceuticals, cosmetics, and food processing, coupled with increasing consumer demand for high-purity, non-toxic ingredients. The trend toward sustainability and regulatory compliance further drives this growth as manufacturers seek reliable, safe products for their formulations.
Recent Developments in the White Oil Market
- In February 2024, Chevron Lummus Global (CLG) launched a state-of-the-art white oil hydroprocessing unit at Hongrun Petrochemical (Weifang) Co., Ltd. in Shandong Province, China. This facility integrates CLG’s advanced ISODEWAXING and ISOFINISHING technologies, enabling the production of ultra-pure white oil tailored to specific industrial needs. The complex includes two specialized units, i.e., one with a capacity of 500,000 metric tons per year (MTPA) for API Group III industrial-grade white oil and another producing 200,000 tons per year (TPA) of food-grade white oil. This development meets the rising global demand for high-quality white oils while enhancing operational efficiency and minimizing environmental impact.
Key Market Players and Competition Synopsis
The white oil market consists of several key market players that have solidified their presence due to their broad product portfolios and market penetration. Leading companies such as ExxonMobil Corporation, Sonneborn and Sasol dominate the market by offering high-quality white oils across pharmaceuticals, cosmetics, and food processing industries. Additionally, emerging players such as Savita Oil Technologies and Apar Industries Ltd. have been making significant strides, especially in niche markets such as technical-grade white oil.
Intense market competition drives these companies to innovate constantly, focusing on enhancing purity, quality, and sustainability. The demand for customized and sustainable white oil solutions further intensifies the competitive landscape, leading to frequent product development and strategic acquisitions. Consumer preference for high-purity white oils in sectors such as personal care and pharmaceuticals plays a critical role in shaping the strategies of key market players and propelling market growth.
Some prominent names established in this market are:
- Bharat Petroleum Corporation
- BP
- Chevron
- Gandhar Oil Refinery
- Exxon Mobil
- FUCHS
- Idemitsu Kosan Co.
- Indian Oil Corporation
- H&R GROUP
- Renkert Oil
- Sasol Limited
- Savita Oil Technologies Limited
- Shell International
- TotalEnergies
- Calumet, Inc.
- HF Sinclair Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2034 |
| Estimated Market Value (USD) in 2024 | $3.89 Billion |
| Forecasted Market Value (USD) by 2034 | $8.59 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
Key Topics Covered:
1 Market: Industry Outlook
1.1 Trends: Current and Future Impact Assessment
1.1.1 Advancements in Refining Technologies
1.1.2 Nanotechnology and its Impact on White Oil Applications
1.1.3 Bio-Based Alternatives to White Oil
1.2 Supply Chain Overview
1.3 Research and Development Review
1.4 Regulatory Landscape (by Region)
1.4.1 North America Regulatory Landscape
1.4.1.1 FDA Compliance for Pharmaceutical and Food-Grade White Oil
1.4.1.2 EPA Guidelines for Industrial Use
1.4.2 Europe Regulatory Landscape
1.4.2.1 REACH Compliance for Cosmetic and Personal Care Use
1.4.2.2 EU Regulations for Food-Grade White Oil
1.4.3 Asia-Pacific Regulatory Landscape
1.4.3.1 Regulations Governing White Oil Use in Cosmetics and Pharmaceuticals in China, India, and Japan
1.4.3.2 ASEAN Regulations for Food Industry Applications
1.4.4 Rest-of-the-World Regulatory Landscape
1.4.4.1 Halal Certification for White Oil in Food and Personal Care
1.4.4.2 Industrial Safety Standards for White Oil in Lubricants
1.5 Sustainability and Environmental Impact of White Oil
1.5.1 Sustainable Sourcing of Raw Materials
1.5.2 Environmental Regulations Impacting the Production of White Oil
1.5.3 Eco-Friendly Alternatives and Innovations
1.6 Stakeholder Analysis
1.7 Impact Analysis for Key Global Events
1.8 Market Dynamics Overview
1.8.1 Market Drivers
1.8.1.1 Growth in the Automotive Sector
1.8.1.2 Expanding Pharmaceutical and Personal Care Industry
1.8.1.3 Rising Plastic Production
1.8.2 Market Challenges
1.8.2.1 Fluctuating Raw Material Prices
1.8.2.2 Stringent Regulatory Compliance
1.8.3 Market Opportunities
1.8.3.1 Expansion in Specialty and Sustainable Grades
2 Application
2.1 Application Segmentation
2.2 Application Summary
2.3 White Oil Market (by Application)
2.4 White Oil Market (by Functionality Type)
3 Products
3.1 Product Segmentation
3.2 Product Summary
3.3 White Oil Market (by Product Type)
3.4 White Oil Market (by Grade Type)
4 Regions
5 Markets – Competitive Benchmarking & Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/8tkp0h
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
