Market Size of White Oil Industry
| 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
*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.
