PUBLISHER: Grand View Research | PRODUCT CODE: 1092487
PUBLISHER: Grand View Research | PRODUCT CODE: 1092487
The global white oil market size is expected to reach USD 3.0 billion by 2030, as per a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.2% from 2022 to 2030. The product demand is attributed to the increase in the consumption of the product by various end-use industries such as personal care and pharmaceutical.
The personal care application segment extensively utilizes the product as a base ingredient, lubricant, softening agent, and a key processing additive for various personal care products mainly including cosmetics, make-up products, lipsticks, skin care lotions, and hair care products. Multiple uses of white oil, coupled with the growth of the personal care industry in developing countries, are driving the product demand.
White oil can be easily blended with other base oils and chemicals for use in adhesive formulations. It enables the adhesive to maintain transparency for a longer duration. Due to the performance-enhancing properties of white oil, the consumption for the same is expected to rapidly rise in the adhesive application segment in the next couple of years.
The product has a wide application scope in the personal care sector. It is primarily used as a base ingredient for manufacturing a large array of personal care products ranging from hair care to skincare product categories. The personal care segment is expected to drive the white oil industry demand in the next few years owing to the increasing use of cosmetics and skincare products, especially in developing countries such as China, India, and Brazil. However, adhesives, agriculture, and polymers are estimated to offer significant growth opportunities for the market over the forecast period.