Introduction
The global White Mineral Oil (Petroleum) Market is forecast to grow at a CAGR of 4.4% from 2023 to 2030. The market is driven by the growing demand for white mineral oil from the personal care and cosmetics industry. White mineral oil is a colorless, odorless, non-toxic liquid that is derived from petroleum. It is widely used in the cosmetics and personal care industry due to its emollient properties. It is also used as a lubricant, release agent, and moisture barrier in various industries. The report provides an in-depth analysis of the global white mineral oil market. It presents historical data from 2018 to 2020 and forecast data from 2023 to 2030. The report covers all major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Market Overview
The major factor driving the growth of the market is the increase in demand from the paints & coatings industry.
Paints and coatings are one of the major applications of white mineral oil. The rise in construction activities across the globe is anticipated to fuel the demand for paints and coatings, which, in turn, is expected to drive the growth of the white mineral oil market. Moreover, white mineral oil is used as an ingredient in food products such as margarine, shortenings, chocolate coating, and chewing gum base. The growing food & beverage industry is likely to boost the demand for white mineral oil over the forecast period.
North America and Europe are projected to be the leading regional markets for white mineral oil during the forecast period. The growth in these regions can be attributed to the rise in construction activities and the growing food & beverage industry. Asia Pacific is also expected to witness significant growth owing to rapid industrialization and urbanization in countries such as China and India.
Covid-19 Impact on White Mineral Oil (Petroleum) Market:The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply of raw materials, which directly affected the manufacturing process. Further, the halt on many end-use industries directly affected the chemical demand all around the world.
Report IncludesAn overview of the global White Mineral Oil (Petroleum) Market, and related technologies and developments. Analyses of global market trends, with historical data from 2018, 2019, and 2020 estimates and projections of CAGRs through 2030. It also includes breakdowns of the overall White Mineral Oil (Petroleum) market along with various segments, and by geographic region. Analysis of the stakeholder value chain in the White Mineral Oil (Petroleum) market and comprehensive profiles of leading companies in the industry
Report ScopeThe report forecasts the size of the White Mineral Oil (Petroleum) market for components from 2023 through 2030
The Executive Summary provides a snapshot of key findings of the report. The introduction chapter includes research scope, market segmentation, research methodology, and definitions and assumptions. It involves extreme rigorous scientific methods, tools and techniques to estimate the market size. Exhaustive secondary research is being carried out to collect information related to the market, the parent market, and the peer market. Primary research is undertaken to validate the assumptions, findings, and sizing with the industry experts professionals across the value chain of the market. Both top-down and bottom-up approaches are employed to estimate the complete market size.
The chapter on market dynamics includes market drivers, restraints, and opportunities which helps familiarise with market potential and upcoming opportunities. The chapter on key insights includes emerging trends from major countries, the latest technological advancement, regulatory landscape, SWOT analysis, and Porter five forces analysis. This chapter provides detailed insights into the market which derives the market trends, changing phase of investments, the scope of profit potential, and helps to take appropriate business decisions. The chapter on competitive analysis includes the profiling of leading companies in the global market to map the leading companies and their focus of interest in the market.
After deriving the market size from the market size estimation process, the total market has been split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments, data triangulation and market breakdown procedures is being used. The data triangulation is carried out by studying various factors and trends from demand and supply perspectives.
Market Dynamics
White mineral oil is a highly refined petroleum product that is used as a lubricant and moisturizer in cosmetics and pharmaceuticals, among other applications. It is colorless, odorless, and has a neutral taste. It contains no additives or impurities.
The major factors driving the growth of the global white mineral oil market are the growing demand for cosmetics and pharmaceuticals, and the increasing use of white mineral oil as a food additive. The rising disposable incomes of people in developing countries are also contributing to the growth of the global white mineral oil market.
However, the volatile nature of crude oil prices is restraining the growth of the global white mineral oil market to some extent. The availability of substitutes for white mineral oil is another factor that could hamper the market growth in the future.
Segmentation AnalysisThe Global White Mineral Oil (Petroleum) Market is segmented By Grade (Industrial Grade, Food Grade), By Application (Cosmetics, Lubricants, Pharmaceuticals), and By Geography
The global white mineral oil market is segmented by type into light white mineral oil, heavy white mineral oil, and medium white mineral oil. Light white mineral oil is the most widely used type of white mineral oil and accounted for the largest share of the global market. Heavy white mineral oil is used in a variety of industrial applications such as lubricants, greases, hydraulic fluids, and metalworking fluids. Medium white mineral oil is used in cosmetics and personal care products, food processing, and pharmaceuticals.
Global White Mineral Oil (Petroleum) market Competitive Analysis:Key players in the Global White Mineral Oil (Petroleum) market are
ExxonMobil
Sonneborn
Paraffin Oils
Savita
Unicorn Petroleum
Suncor Energy
Calumet Specialty Products Partners
Shell
TOTAL
Chevron
FUCHS
Lubline
SK
Zhonghai Nanlian
Asian Oil Company and among other players.
*All our reports are customizable as per customer requirementsThis study forecasts revenue and volume growth at global, regional, and country levels from 2018 to 2030. The Global White Mineral Oil (Petroleum) market is distributed on the basis of the below-mentioned segments:
Global White Mineral Oil (Petroleum) Market, By Type:
- Kinematic Viscosity (Below 10)
- Kinematic Viscosity (10-20)
- Kinematic Viscosity (20-50)
- Kinematic Viscosity (50Above )
- Others
Global White Mineral Oil (Petroleum) Market, By Application:
- Polystyrene Market
- Phytosanitary Industry
- Pharmaceutical and Cosmetics
- Animal Vaccines
- Other
Global White Mineral Oil (Petroleum) Market, By Region:
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
List of Figures
Figure 1: Global White Mineral Oil (Petroleum) Market Revenue Breakdown (USD Billion, %) by Region, 2023 & 2030
Figure 2: Global White Mineral Oil (Petroleum) Market Value Share (%), By Segment 1, 2023 & 2030
Figure 3: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 4: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 5: Global White Mineral Oil (Petroleum) Market Value Share (%), By Segment 2, 2023 & 2030
Figure 6: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 7: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 8: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 9: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 10: Global White Mineral Oil (Petroleum) Market Value Share (%), By Segment 3, 2023 & 2030
Figure 11: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 12: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 13: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 14: Global White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 15: Global White Mineral Oil (Petroleum) Market Value (USD Billion), by Region, 2023 & 2030
Figure 16: North America White Mineral Oil (Petroleum) Market Value Share (%), By Segment 1, 2023 & 2030
Figure 17: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 18: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 19: North America White Mineral Oil (Petroleum) Market Value Share (%), By Segment 2, 2023 & 2030
Figure 20: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 21: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 22: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 23: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 24: North America White Mineral Oil (Petroleum) Market Value Share (%), By Segment 3, 2023 & 2030
Figure 25: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 26: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 27: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 28: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 29: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by U.S., 2018-2030
Figure 30: North America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Canada, 2018-2030
Figure 31: Latin America White Mineral Oil (Petroleum) Market Value Share (%), By Segment 1, 2023 & 2030
Figure 32: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 33: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 34: Latin America White Mineral Oil (Petroleum) Market Value Share (%), By Segment 2, 2023 & 2030
Figure 35: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 36: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 37: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 38: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 39: Latin America White Mineral Oil (Petroleum) Market Value Share (%), By Segment 3, 2023 & 2030
Figure 40: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 41: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 42: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 43: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 44: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Brazil, 2018-2030
Figure 45: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Mexico, 2018-2030
Figure 46: Latin America White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Rest of Latin America, 2018-2030
Figure 47: Europe White Mineral Oil (Petroleum) Market Value Share (%), By Segment 1, 2023 & 2030
Figure 48: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 49: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 50: Europe White Mineral Oil (Petroleum) Market Value Share (%), By Segment 2, 2023 & 2030
Figure 51: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 52: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 53: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 54: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 55: Europe White Mineral Oil (Petroleum) Market Value Share (%), By Segment 3, 2023 & 2030
Figure 56: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 57: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 58: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 59: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 60: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by U.K., 2018-2030
Figure 61: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Germany, 2018-2030
Figure 62: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by France, 2018-2030
Figure 63: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Italy, 2018-2030
Figure 64: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Spain, 2018-2030
Figure 65: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Russia, 2018-2030
Figure 66: Europe White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Rest of Europe, 2018-2030
Figure 67: Asia Pacific White Mineral Oil (Petroleum) Market Value Share (%), By Segment 1, 2023 & 2030
Figure 68: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 69: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 70: Asia Pacific White Mineral Oil (Petroleum) Market Value Share (%), By Segment 2, 2023 & 2030
Figure 71: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 72: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 73: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 74: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 75: Asia Pacific White Mineral Oil (Petroleum) Market Value Share (%), By Segment 3, 2023 & 2030
Figure 76: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 77: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 78: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 79: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 80: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by China, 2018-2030
Figure 81: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by India, 2018-2030
Figure 82: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Japan, 2018-2030
Figure 83: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Australia, 2018-2030
Figure 84: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Southeast Asia, 2018-2030
Figure 85: Asia Pacific White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Rest of Asia Pacific, 2018-2030
Figure 86: Middle East & Africa White Mineral Oil (Petroleum) Market Value Share (%), By Segment 1, 2023 & 2030
Figure 87: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 88: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 89: Middle East & Africa White Mineral Oil (Petroleum) Market Value Share (%), By Segment 2, 2023 & 2030
Figure 90: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 91: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 92: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 93: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 94: Middle East & Africa White Mineral Oil (Petroleum) Market Value Share (%), By Segment 3, 2023 & 2030
Figure 95: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 1, 2018-2030
Figure 96: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 2, 2018-2030
Figure 97: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Sub-Segment 3, 2018-2030
Figure 98: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Others, 2018-2030
Figure 99: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by GCC, 2018-2030
Figure 100: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by South Africa, 2018-2030
Figure 101: Middle East & Africa White Mineral Oil (Petroleum) Market Forecast (USD Billion), by Rest of Middle East & Africa, 2018-2030
List of Tables
Table 1: Global White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
Table 2: Global White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
Table 3: Global White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
Table 4: Global White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Region, 2018-2030
Table 5: North America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
Table 6: North America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
Table 7: North America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
Table 8: North America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Country, 2018-2030
Table 9: Europe White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
Table 10: Europe White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
Table 11: Europe White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
Table 12: Europe White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Country, 2018-2030
Table 13: Latin America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
Table 14: Latin America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
Table 15: Latin America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
Table 16: Latin America White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Country, 2018-2030
Table 17: Asia Pacific White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
Table 18: Asia Pacific White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
Table 19: Asia Pacific White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
Table 20: Asia Pacific White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Country, 2018-2030
Table 21: Middle East & Africa White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 1, 2018-2030
Table 22: Middle East & Africa White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 2, 2018-2030
Table 23: Middle East & Africa White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Segment 3, 2018-2030
Table 24: Middle East & Africa White Mineral Oil (Petroleum) Market Revenue (USD Billion) Forecast, by Country, 2018-2030
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
