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The White Oil Market to proliferate based on innovation from 2017-2025
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Global White Oil Market: Forecast
An in-depth study of the white oil market across the globe points to a revenue growth of US$ 1964.3 Mn by the end of 2025, reflecting a CAGR of 3.5% during the period of forecast, 2017 to 2025.
Global White Oil Market: Trends Observed Across Geographies
Certain trends are witnessed across geographies that are likely to impact revenue growth of the global white oil market. In Asia Pacific, there is more inclination towards the use of heavy paraffinic oil in industries for various applications. There is an increase in innovative platforms to enhance production of white oil in order to meet growing demands in the Middle East and Africa region, which has a significant impact on the global white oil market.
The adoption of new technologies and increase in the adoption of group II base oil has a positive impact on the white oil market in North America. In Latin America, the demand for heavy paraffinic white oil is rising due to rising manufacturing of polymers, textile products and hot melt adhesives. This region can be considered as a low volume high growth region due to rising number of end-use industries in Latin America. In Europe, the focus on high quality products coupled with the rising number of new entrants, manufacturers and suppliers has led to an increase in the demand for high efficacy white oil.
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Global White Oil Market: Segmental Forecast
The global white oil market is segmented on the basis of product type (light paraffinic, heavy paraffinic, and naphthenic); on the basis of grade (pharmaceutical, chemical); on the basis of application (pharmaceutical, personal care and cosmetics, polymers, textiles, adhesives, food and beverages, and others) and on the basis of region (North America, Latin America, Europe, Asia Pacific and Middle East and Africa).
The light paraffinic segment by product type is expected to witness dominance with respect to market share and is estimated to represent 2/5th of the overall global white oil market by the end of 2025; poised to register a CAGR of 3.9% during the forecast period
The pharmaceutical segment by grade is anticipated to grow at a CAGR of 3.7% during the period of forecast to slate a revenue of US$ 1206.8 Mn by the end of 2025 thereby establishing dominance
By application, the personal care and cosmetics segment is poised to grow at a higher rate to register a CAGR of 4.3% over the forecast period and dominates the global market with respect to revenue share
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Global White Oil Market: Regional Exploration
Persistence Market Research has scrutinized the market for white oil across the important geographies of North America, Europe, Latin America, Asia Pacific and Middle East and Africa. Asia Pacific and North America are anticipated to remain the major regions in the global white oil market with respect to demand. Europe and Middle East and Africa are expected to hold a considerable share during the period of forecast. Asia Pacific is anticipated to record US$ 1120.6 Mn in market value and is poised to register a comparatively higher growth rate of 3.9% throughout the forecast period.
Global White Oil Market: Competitive Landscape
The research report on the global white oil market profiles tier players involved in the white oil market such as China Petroleum & Chemical Corp (Sinopec Corporation), Calumet Specialty Products Partners, L.P., Chevron Corp, Exxon Mobil Corporation, Total S.A., Royal Dutch Shell plc., Fuchs Perlolub SE, Nynas AB, H&R GmbH & Co. KGaA, Savita Oil Technologies Ltd., Panama Petrochem Ltd., Apar Industries Limited, C J Robinson Company Inc., Morris Lubricants, Petroliam Nasional Berhad (PETRONAS), Raj Petro Specialties P. LTD., Lubline, Sonneborn, Petro-Canada Lubricants (Subsidiary of Suncor Energy) and Kerax Limited.
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