The global white oil market size is projected to reach USD 2.71 billion by
2025 expanding at a CAGR of 4.2%, according to a new report by Grand View
Research, Inc. Growing applications of white oils in the pharmaceutical
industry, due to their superior blending characteristics are anticipated to
drive the market over the forecast period. Pharmaceutical is the second-largest
application segment. Increasing prevalence of diseases coupled with the
advancement in technology pertaining to the healthcare industry has been
driving the growth of this segment. Various governmental strategies have played
a key role in driving domestic pharmaceutical industry, which is likely to fuel
the demand for white oils.
For instance, the Government of Mexico
eliminated stringent regulation against the establishment of new manufacturing
units. Thus, different large-scale manufacturers, such as Astellas Pharma Inc.,
Daiichi-Ranbaxy, and Takeda Pharmaceutical Co. Ltd., have started their
production facilities in the country. The packaged food industry is Europe’s
biggest manufacturing sector, in terms of value added. Improved living
standards coupled with hectic lifestyle will drive the demand for packaged
foods, which is expected to fuel the growth of the white oil market. Moreover,
rapidly expanding online food market will drive the market further.
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https://www.grandviewresearch.com/industry-analysis/white-oil-market
Further key findings from the study suggest:
· In terms of volume, the personal care
segment led the market in 2018 due to higher demand from end users across the
globe
· Adhesives and agriculture applications are
anticipated to have substantial growth prospects. White oils offer high
transparency, good thermal stability, and ease of lubrication, which is
boosting their demand in adhesives segment
· Strict regulations governed by key
authorities, such as NIOSH and the U.K. HSE, especially in U.S. and Western
European countries, are considered as a key restraint for the global white oil
market growth
· Manufacturers produce different commercial
grades (technical, medicinal, and food grades) of white oil that vary based on
properties, such as constituency, purity, and viscosity
· Key companies in the market include
Sonneborn, Inc.; Sinopec Corporation; Nynas AB; Royal Dutch Shell N.V.; JX
Nippon Oil & Energy Corporation; and Petro-Canada
Grand View Research has segmented the
global white oil market on the basis of application and region:
White Oil Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
Adhesives
·
Agriculture
·
Food
·
Pharmaceutical
·
Personal Care
·
Textile
·
Polymers
·
Others
White Oil Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
