Chicago, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The global white oil market is projected to reach USD 2.08 billion by 2027, at a CAGR of 4.7% from USD 1.58 billion in 2022, according to a new report by MarketsandMarkets™. There is significant development potential in emerging economies. White oil is in high demand in countries like India, China, and South Korea, which is more likely to fuel the global white oil market in these areas. Its bio-stability and high hydrophobicity enable it to be used in a wide range of applications, including pharmaceuticals, cosmetics, and chemical processing.
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Browse in-depth TOC on “White Oil Market”
254 – Tables
65 – Figures
List of Key Players in White Oil Market:
- Royal Dutch Shell (Netherlands),
- ExxonMobil Corporation (US),
- Petro-Canada (Canada),
- Sasol (South Africa) and
- Renkert Oil, Inc. (US) have undertaken various strategies in the white oil market.
White Oil Market Dynamics:
- Driver: Developing pharmaceutical industry
- Restraints: Allergic reactions to white oil
- Opportunities: Rising demand from plastic industry
- Challenges: Volatile raw material prices
“Based on application, adhesives are projected to grow at highest CAGR during the forecast period”
Adhesives application is projected to grow at highest CAGR during the forecast period. The increase in demand for the product as diluents for the manufacturing of hot melt and pressure-sensitive adhesives is blamed for the surge. White oil induces transparency, maintains colour stability, and is well suited to human skin, all of which are necessary for achieving the appropriate manufacturing yield of adhesives.
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“Asia Pacific is expected to be the fastest growing market for white oil during the forecast period, in terms of value and volume.”
During the forecast period, Asia Pacific is projected to grow at highest CAGR, in terms of value. During the forecast period, China and India are anticipated to be the leading investment destinations in the market. This is due to the presence of a growing customer base in sectors including the pharmaceutical, personal care, and cosmetic industries. Major industrial players are also present in the region, particularly in China.
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