New York, United States , March 06, 2023 (GLOBE NEWSWIRE) -- The Global White Oil Market Size is to grow from USD 200.50 billion in 2021 to USD 311.04 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5% during the forecast period. The growing need for White Oil in the pharmaceutical and personal care sectors is projected to be the main driver of market demand. Rising White Oil demand from cosmetics and medical applications is anticipated to be a key market driver globally.
Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report.
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COVID-19 Impact & Analysis.
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
Browse 29 market data Tables and 58 Figures spread through 225 Pages and in-depth TOC on “Global White Oil Market Size, Share, and COVID-19 Impact Analysis, By Application (Adhesives, Agriculture, Food, Pharmaceutical, Personal Care, Textile, Polymers and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” View a detailed Table of Content here.
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The Personal Care segment to hold a higher CAGR during the forecast period.
Based on the application, the white oil market size is categorized into Adhesives, Agriculture, Food, Pharmaceutical, Personal Care, Textile, Polymers and Others. The Personal Care segment to hold a higher CAGR during the forecast period. Throughout the forecast period, the Personal Care segment is anticipated to maintain its leading position while expanding at the fastest CAGR Because this is explained by the rise in demand for personal care goods brought on by people's increased awareness of their health. While creating various personal care products, white oil is used as a basic component and as an emollient. It is widely used in the production of a variety of personal care goods, including cosmetics, skincare products, moisturisers, baby items, body lotions, hair oils, shampoos, scents, and creams that are water-resistant. Because of the product's inertness toward other compounds in contact, colour stability, and lack of odour, creams employ it as a softening agent or emollient. Due to its great hydrophobicity, the substance is also used to make lotions that are resistant to water. Due to its superior binding properties, Ondina X, a white oil of the pharmaceutical grade, is produced and distributed by Royal Dutch Shell N.V. for use in the personal care business.
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North America to hold a higher CAGR during the forecast period.
The Global White Oil Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. Asia Pacific is estimated to account for the highest market share in 2022. The demand for White Oil is being driven by the rising acceptance by the market. The market for White Oil was dominated by the Asia Pacific region because there is a developing market for White Oil products in end-use sectors and the expansion is linked to the region's expanding pharmaceutical industry's need for the product. The pharmaceutical sector has been primarily propelled by increased customer knowledge, affordability, and purchasing power. Industry participants continually invest in R&D, release new goods, and set their prices to appeal to customers with various degrees of purchasing power.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global White Oil Market Share: Adinath Chemicals, Bharat Petroleum Corporation Limited, BP PLC, C.J. Robinson Company, Inc., Calumet Specialty Products Partners, L.P., Chevron Corporation, China Petrochemical Corporation, Eastern Petroleum Pvt. Ltd., Exxon Mobil Corporation, H&R GmbH & Co. KGaA, HollyFrontier Corporation, Nandan Petrochem Ltd., and Nynas AB.
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