PUBLISHER: The Business Research Company | PRODUCT CODE: 1770129
PUBLISHER: The Business Research Company | PRODUCT CODE: 1770129
White oil, also referred to as mineral white oil or liquid paraffin, is a highly refined, colorless, and odorless mineral oil derived from petroleum. It is free of aromatic compounds and exhibits strong chemical stability. Its primary use is as a base or carrier fluid in applications that demand high levels of purity.
The main types of white oil include mineral-based white oil and synthetic white oil. Mineral-based white oil is a clear, odorless, and highly refined oil obtained from petroleum, widely utilized in the cosmetic, pharmaceutical, and food industries due to its safety and purity. It is offered in light and heavy grades, performing various functions such as lubrication, moisturization, emollient, solvent, protective coating, plasticizer, and release agent. Available in low, medium, and high viscosity variants, white oil finds applications across a wide range of sectors, including pharmaceuticals, cosmetics and personal care, food processing, polymers, textiles, adhesives, and lubricants.
The white oil market research report is one of a series of new reports from The Business Research Company that provides white oil market statistics, including the white oil industry's global market size, regional shares, competitors with the white oil market share, detailed white oil market segments, market trends and opportunities, and any further data you may need to thrive in the white oil market. This white oil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The white oil market size has grown strongly in recent years. It will grow from $2.38 billion in 2024 to $2.52 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. Growth during the historic period can be attributed to the rising demand from the pharmaceutical sector, increased usage in cosmetics and personal care products, a growing emphasis on sustainable and eco-friendly solutions, expanded adoption in food processing and packaging, and a surge in various industrial applications.
The white oil market size is expected to see strong growth in the next few years. It will grow to $3.13 billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. Growth in the forecast period can be attributed to the increasing demand for high-performance lubricants, a rising need for moisturizing and emollient components, stricter regulatory standards and heightened safety concerns, growing consumer preference for safe beauty and personal care products, and expanding demand for high-purity oils in medical applications. Key trends anticipated during this period include advancements in refining technologies, the adoption of sustainable manufacturing practices, technological innovations in synthetic white oils, progress in automation and digitalization, and the development of bio-based white oil alternatives.
The increasing demand for safe beauty and personal care products is expected to drive the growth of the white oil market in the coming years. These products are formulated without harmful chemicals or toxic ingredients, aiming to minimize health risks and allergic reactions. The growing consumer awareness of the potential dangers linked to certain ingredients is fueling the preference for safer alternatives. White oil plays a key role in such formulations due to its high purity and chemical stability, making it ideal for sensitive skin applications. It enhances product effectiveness by functioning as a gentle emollient and moisturizer, offering both safety and performance. For example, in September 2024, the Bureau of Labor Statistics, a U.S.-based government agency, reported that consumer spending on personal care products and services rose to $950 in 2023, marking a 9.7% increase from $866 in 2022. Thus, the rising demand for safe beauty and personal care products is contributing significantly to the expansion of the white oil market.
Leading companies in the white oil market are investing in cutting-edge technologies such as advanced hydroprocessing to improve product purity and operational efficiency. Hydroprocessing involves chemical refining processes that utilize hydrogen to eliminate impurities like sulfur, nitrogen, and metals from petroleum fractions while enhancing the quality of finished products. For instance, in February 2024, Chevron Lummus Global LLC, a U.S.-based chemical technology firm launched a new white oil processing unit in China. This facility employs state-of-the-art hydroprocessing techniques, including Isodewaxing and Isofinishing, to produce both industrial-grade and food-grade white oils with enhanced purity and performance.
In April 2022, Indorama Ventures PCL, a Thailand-based petrochemical company, acquired Oxiteno S.A. for an undisclosed amount. The acquisition supports Indorama Ventures' strategy to reinforce its global position in the high-value surfactant market and accelerate sustainable growth across the Americas. Oxiteno S.A., a Brazil-based chemical producer, manufactures white mineral oils under the EMCAplus brand, further strengthening Indorama's product portfolio and market reach.
Major players in the white oil market are ExxonMobil Corporation, Shell plc, TotalEnergies SE, Chevron Corporation, ENEOS Corporation, Idemitsu Kosan Co. Ltd., BASF SE, Bharat Petroleum Corporation Limited, HF Sinclair Corporation, Sasol Limited, Sinopec Corporation, Calumet Specialty Products Partners, FUCHS PETROLUB SE, H And R Group, Apar Industries Ltd., Castrol Limited, Savita Oil Technologies Limited, Nynas AB, Seojin Chemical Co. Ltd., Gandhar Oil Refinery (India) Limited, Renkert Oil Inc, Columbia Petro Chem Pvt. Ltd, and Seasol Maritime India Private Limited.
North America was the largest region in the white oil market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in white oil report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the white oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The white oil market consists of sales of polystyrene processing oils, adhesive-grade white oils, lubricant base oils, and coating and ink oils. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
White Oil Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on white oil market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for white oil ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The white oil market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.