White Oil Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The White Oil Market Report is Segmented by Application (plastics and Elastomers, Adhesives, Personal Care, Agriculture, Textile, Food and Beverage, Pharmaceutical, Metalworking Applications, and Other Applications (household Products)), Grade (technical/industrial Grade and Pharmaceuticals Grade), Base Oil (Group I, Group II, Group III, and Naphthenic), Viscosity (low, Medium, and High), and Geography (Asia-Pacific, North America, Europe, and the Rest of the World). The Report Offers Market Size and Forecasts for White Oil in Volume (tons) for all the Above Segments.

White Oil Market Size

White Oil Market Summary
Study Period 2019 - 2029
Market Volume (2024) 1.49 Million tons
Market Volume (2029) 1.58 Million tons
CAGR (2024 - 2029) 1.25 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

White Oil Market Major Players

*Disclaimer: Major Players sorted in no particular order


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White Oil Market Analysis

The White Oil Market size is estimated at 1.49 Million tons in 2024, and is expected to reach 1.58 Million tons by 2029, growing at a CAGR of 1.25% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the white oil market. Many countries took a wide variety of restrictive measures, which had, in general, a negative effect on demand to prevent the spread of the COVID-19 pandemic. Thus, industrial production in many areas. Moreover, the steel industry is one of the major victims of this pandemic. Steel production declined due to production halts and decreased demand from various end-user industries because of the COVID-19 crisis. Similarly, the food and beverage industry was negatively affected due to significant disruptions in the supply chain. Thus, these disruptions hindered the white oil market.

  • Over the medium term, the major factors driving the growth of the white oil market are the growing demand from the cosmetics and personal care industry and the growing pharmaceutical industry.
  • However, the availability of substitute products and price volatility of raw materials are acting as restraints to the market studied.
  • The potential usage of white oil in the food and beverage industry and increasing usage from the textiles and apparel industry are expected to provide opportunities for the white oil market.
  • The Asia-Pacific region is expected to dominate the white oil market owing to the rapid growth of countries like China, India, and Japan.

White Oil Market Trends

Increasing Demand from Personal Care Products Across the World

  • White oils are an essential part of many cosmetic formulations. They are commonly used in almost all cosmetic and personal care products, from emulsions to anhydrous cosmetics, such as lip balm, baby oil, skincare, haircare products, creams, lotions, and emollients.
  • White oil can be used to ease diaper rash and eczema irritation. The cosmetic industry also makes good use of liquid paraffin. The substance is used in various beauty products, including detergent creams, cold creams, hydrated creams, bronzed oils, and makeup products.
  • In the United States, the revenue in the beauty and personal care market stood at USD 93.38 billion in 2022, of which USD 43.29 billion accounted for personal care products. These products include lotions, hair dyes, lipsticks, cosmetics, creams, deodorants, bath soaps, dental care products, shampoos, toothpaste, perfumes, UV filters, detergents, sunscreens, fragrances, and household items.
  • According to Cosmetic Europe, the personal care association, Europe's 500 million consumers use cosmetic and personal care products daily to protect their health, enhance their well-being, and boost their self-esteem. They range from antiperspirants, fragrances, makeup, and shampoos to soaps, sunscreens, toothpaste, and cosmetics.
  • Moreover, according to Cosmetics Europe, the cosmetics and personal care industry in Europe was valued at EUR 88 billion (~USD 95.93 billion) in 2022.
  • Key players, such as L'Oréal, P&G, Unilever, and Shiseidō, dominate the market for personal care products. According to the report by L'Oreal, the annual growth of the global cosmetics market was 6 % in 2022.
  • According to the Cosmetica Italia, the consumption of cosmetics products in Italy grew from EUR 10,236 million (~USD 11,158.98 million) in 2015 to EUR 11,458 million (~USD 12,491.17 million) in 2022.
  • Thus, all the above factors are expected to drive the demand for white oil during the forecast period.
White Oil Market: Annual Growth of the Global Cosmetics Market, 2015 - 2022

Asia-Pacific is Expected to Dominate the Market

  • Asia-Pacific dominated the market as the largest and fastest-growing market for white oil in 2022.
  • According to Textile Value Chain, China holds about 40% of global textile markets & India claims second position.
  • China is the largest textile-producing and exporting country in the world. With its rapid growth over the last two decades, the Chinese textile industry became one of the main pillars of the country's economy. China's top export goods are clothing accessories, textile yarns, and textile articles.
  • According to the National Bureau of Statistics of China, the textile production volume in China accounted for 2.8 billion m in November 2023, compared to 2.7 billion m in April 2023.
  • In China, more women are joining the workforce, thus driving the instinct to look good. Interestingly, the cosmetics industry also witnessed a surge in demand among men. It is owing to factors such as awareness and the importance of grooming.
  • Products with natural ingredients, especially fruit- and plant-based products, are in high demand. L'Oreal group is coming up with a series of product introductions and a rollout of customized social initiatives in China. Such trends are driving the demand for white oil in the country.
  • The country's most extensive application of white oils in India is hair oil, a part of the cosmetics and personal care industry. The overall cosmetics and pharmaceutical industries account for around three-fourths of the white oil consumption in the country.
  • According to the India Brand Equity Foundation, India is also the second-largest producer of garments and textiles globally and the fifth-largest textile exporter. In addition, India's textile and apparel industry contributes 2% to India's GDP. In 2023, India exported USD 35.58 billion in textiles and apparel (T&A), including handicrafts.
  • Owing to such trends in various industries in Asia, the demand for white oils is likely to increase during the forecast period.
White Oil Market - Growth Rate by Region, 2022-2027

White Oil Industry Overview

The white oil market is partially consolidated with many healthy competitions in the market. The major companies (not in any particular order) are China Petrochemical & Chemical Corporation (Sinopec), HF Sinclair Corporation, Calumet Specialty Products Partners, Savita Oil Technologies Limited, and Exxon Mobil Corporation.

White Oil Market Leaders

  1. HF Sinclair Corporation

  2. Savita Oil Technologies Limited

  3. Exxon Mobil Corporation

  4. Calumet Specialty Products Partners

  5. China Petrochemical & Chemical Corporation (Sinopec)

*Disclaimer: Major Players sorted in no particular order

White Oil Market Concentration
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White Oil Market News

  • April 2022: Indorama Ventures Public Company Limited (IVL) announced the completion of the acquisition of Oxiteno SA. Through the acquisition, IVL broadens its development profile into lucrative markets in Latin America and the United States. It established itself as the continent's top producer of surfactants with additional opportunities to improve in Europe and Asia.

White Oil Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from Cosmetics and Personal Care Industry

      2. 4.1.2 Growing Pharmaceutical Industry

    2. 4.2 Restraints

      1. 4.2.1 Availability of Substitute Products

      2. 4.2.2 Price Volatility of Raw Materials

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree Of Competition

    5. 4.5 Distribution Channel Analysis

    6. 4.6 Factors Affecting Purchase Decisions

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Application

      1. 5.1.1 Plastics and Elastomers

      2. 5.1.2 Adhesives

      3. 5.1.3 Personal Care

      4. 5.1.4 Agriculture

      5. 5.1.5 Textile

      6. 5.1.6 Food and Beverage

      7. 5.1.7 Pharmaceutical

      8. 5.1.8 Metalworking Applications

      9. 5.1.9 Other Applications (Household Products)

    2. 5.2 Grade

      1. 5.2.1 Technical/Industrial Grade

      2. 5.2.2 Pharmaceutical Grade

    3. 5.3 Base Oil

      1. 5.3.1 Group I

      2. 5.3.2 Group II

      3. 5.3.3 Group III

      4. 5.3.4 Naphthenic

    4. 5.4 Viscosity

      1. 5.4.1 Low

      2. 5.4.2 Medium

      3. 5.4.3 High

    5. 5.5 Geography

      1. 5.5.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. Rest of Asia-Pacific

      2. 5.5.2 North America

        1. United States

        2. Canada

        3. Rest of North America

      3. 5.5.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. Rest of Europe

      4. 5.5.4 Rest of the World

        1. South America

        2. Middle East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Bharat Petroleum Corporation Limited

      2. 6.4.2 Calumet Specialty Products Partners

      3. 6.4.3 China Petrochemical Corporation (Sinopec)

      4. 6.4.4 Columbia Petro Chem Pvt. Ltd.

      5. 6.4.5 Exxon Mobil Corporation

      6. 6.4.6 H&R Group

      7. 6.4.7 HF Sinclair Corporation

      8. 6.4.8 Indorama Ventures Public Company Limited (Oxiteno)

      9. 6.4.9 NYNAS AB

      10. 6.4.10 RENKERT OIL

      11. 6.4.11 Savita Oil Technologies Limited

      12. 6.4.12 Seasol

      13. 6.4.13 Shell

    5. *List Not Exhaustive

    1. 7.1 Potential Usage in the Food and Beverage Industry

    2. 7.2 Increasing Usage from Textiles and Apparel Industry

**Subject to Availability
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White Oil Industry Segmentation

White oils are highly refined paraffinic or naphthenic base oils with minimal aromatic content. These oils are colorless, tasteless, odorless, and hydrophobic and do not change their color over time. They are also known as light mineral oils, light liquid paraffin, and light paraffin oils in different parts of the world. White oils were prepared as by-products of sulfonate production, formed when paraffinic or naphthenic base oils were treated with sulfuric acid.

The white oil market is segmented by grade, base oil, viscosity, application, and geography. By grade, the market is segmented into technical/industrial grade and pharmaceutical grade. By base oil, the market is segmented into group I, group II, group III, and naphthenic. By viscosity, the market is segmented into low, medium, and high. By application, the market is segmented into plastics and elastomers, adhesives, personal care, agriculture, textile, food and beverage, pharmaceutical, metalworking applications, and other applications (Household Products). The report also covers the market size and forecasts for the white oil market in 8 countries across major regions. For each segment, the market sizing and forecasts are done on the basis of volume (tons).

Plastics and Elastomers
Personal Care
Food and Beverage
Metalworking Applications
Other Applications (Household Products)
Technical/Industrial Grade
Pharmaceutical Grade
Base Oil
Group I
Group II
Group III
Rest of Asia-Pacific
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of the World
South America
Middle East and Africa
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White Oil Market Research FAQs

The White Oil Market size is expected to reach 1.49 million tons in 2024 and grow at a CAGR of 1.25% to reach 1.58 million tons by 2029.

In 2024, the White Oil Market size is expected to reach 1.49 million tons.

HF Sinclair Corporation, Savita Oil Technologies Limited, Exxon Mobil Corporation, Calumet Specialty Products Partners and China Petrochemical & Chemical Corporation (Sinopec) are the major companies operating in the White Oil Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in White Oil Market.

In 2023, the White Oil Market size was estimated at 1.47 million tons. The report covers the White Oil Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the White Oil Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

White Oil Industry Report

Statistics for the 2024 White Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. White Oil analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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White Oil Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)