White Mineral Oil Market

White Mineral Oil Market Synopsis

White Mineral Oil Market Size Was Valued at USD 1.70 Billion in 2023, and is Projected to Reach USD 2.52 Billion by 2032, Growing at a CAGR of 4.50 % From 2024-2032.

White mineral oil is a highly refined, colorless, doorless and transparent liquid, which is obtained from petroleum. Their usage is reported in different sectors such as the pharmaceutical sector, services and cosmetic sector, food and industrial sectors. It is used in many products due to its toxic-free characteristic and stability in most environment where it is applied. 

 The global market of white mineral oil has been gradually growing because of the continuously raising demand for this product from different branches of industries including personal care products and pharmaceutical and food industries. The market’s growth is established by the facts that the oil finds its application as a lubricant, solvent, and a carrier fluid and at the same time due to its inert nature is safe for use in the consumer products.

The raising awareness toward natural and safe material used in various products has added to the white mineral oil market especially in PC& C industries. However, the market growth is expected in its application for food industry as the food-grade lubricant and in pharmaceuticals for formulation. However, the market suffers some unbidded drawbacks such as the changeable price of raw materials and the condition of growing environmental constrain.

White Mineral Oil Market Outlook, 2023 and 2032: Future Outlook

White Mineral Oil Market Trend Analysis

Rising Beauty, The Growing Demand for White Mineral Oil in Cosmetics

White mineral oil is widely used in cosmetics and personal care products because of its non-irritating, non-toxic and hypoallergenic action. With the consumer welfare being the priority, there is a steady trend towards looking for safer and superior quality raw materials for products that are used on the skin daily, which boosting the white mineral oil in lotion and cream as well as the other body related products.

Furthermore, the paradigm shift towards bio based and sustainable solutions is also playing in the white mineral oil market. A growing trend being seen through many manufacturers is an increasing drive towards sustainability, with an inclination towards green refining methods which are beneficial to the growth of this market.

Beauty and Health Boost, White Mineral Oil's Growing Role in Personal Care & Pharma

One of the main growth stimulators for the white mineral oil market is the steadily growing need for personal care products, especially in the developing countries. Its characteristics like emollient, penetration enhancing and incorporating active substances make it to be widely used in most lotions, creams, and other cosmetic preparations. Higher disposable incomes in developing countries make them consume the products which has in turn increased the market demand for white mineral oil.

Another important reason is the massive implementation of polymers in the pharmaceutical field as dosage forms. The pharmaceutical expansion and improvement in global health care consciousness partially predicts demand of white mineral oil. The added safety and the compatibility with delicate uses like topical preparations and capsules add-on the demand for the substance.

Regulatory Roadblocks, The Impact of Environmental Concerns on White Mineral Oil

The white mineral oil market has its limitations mainly due to restrictions in certain areas. Market growth can be limited by the regulation of the sales and usage of petroleum-derived products as a result of growing environmental concerns. More environmentally sensitive requirements concerning petrochemical products production and disposal are resulting in higher costs to manufacturers.

also, price volatility of raw materials is another factor that limits the company’s growth. In view of this, since white mineral oil is a product of petroleum, its market price can be largely influenced by the world market price of oil. Such changes are not always good for the market because they lower the predictability of the price end-users have to pay, sometimes even increasing it.

Greener Pastures, The Sustainable Future of White Mineral Oil

The use of white mineral oil in environmentally friendly products is a great opportunity for players in the market. With the growing interest for sustainable consumer products, corporations are paying attention to the development of quality white mineral oils that are ecologically friendly. Such a change could lead to product diversification with streams all directed towards the green products market.

Besides, ever growing food and beverages sector can be viewed as the opportunity for using white mineral oil. Known as the food-grade lubricant it finds use in food & packaging industries, and due to the rising global interest in processed food this segment offers variety of opportunities for the key actors in the market.

White Mineral Oil Market Segment Analysis

White Mineral Oil Market Segmented on the basis of By Grade, By Application and By End-Use Industry.

By Grade

o   Pharmaceutical Grade

o   Food Grade

o   Technical Grade

By Application

o   Cosmetics & Personal Care

o   Pharmaceuticals

o   Food & Beverages

o   Industrial Lubricants

o   Agricultural Chemicals

o   Others

By End-Use Industry

o   Healthcare

o   Automotive

o   Food & Beverage

o   Industrial

o   Cosmetics & Personal Care

By Region

o   North America (U.S., Canada, Mexico)

o   Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)

o   Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)

o   Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)

o   Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)

o   South America (Brazil, Argentina, Rest of SA)

By Grade, Pharmaceutical Grade segment is expected to dominate the market during the forecast period

Thus, the white mineral oil market is divided into pharmaceutical white mineral oil market, food white mineral oil market, and technical white mineral oil market. White mineral oil used in the formulation of various products includes ointments and emulsions and the white mineral oil used in the industry is of pharmaceutical standard. The food grade is applied to food processing and packaging industries because the material has to be safe for use with foods. Technical grade white mineral oil is the type of mineral oil that is used in industries for purposes like lubricating, acting as solvent and for process normally its pureness is not a major factor compared to medical and food industries.

By Application, Cosmetics & Personal Care segment expected to held the largest share 

Ubiquitously, the white mineral oil market, based on the application, is divided into cosmetics & personal care, pharmaceuticals, food & beverages, industrial lubricants, agriculture chemical as well as others. It is used commonly in cosmetics in skin-care products because it acts as a humectant. It is also applied in pharmaceuticals for products like an admixture agent for formations like laxatives and ointments. While in the food & beverage industry, it is used as a food grade grease. It also has major application in industrial-grade operation fluids or lubricating and in agriculture as a pesticide.

White Mineral Oil Market Regional Insights

Asia Pacific is Expected to Dominate the Market Over the Forecast period 

The Asia Pacific region is attributed to the largest share in white mineral oil market attributed to the increased industrialization coupled with the relatively young population with higher disposable income important market for personal care products and pharmaceuticals. Due to its relatively large population base and increased demand for the versatility uses of white mineral oil that it has, the region is an important market for this product.

The future uses of white mineral oil in the Asia-Pacific region are anticipated to be high especially from China and India as the pharma, personal care and industrial segments are increasing. The robust growth of the market is underpinned by a rising level of manufacturing capacities and infrastructural facilities across these countries in this region.

White Mineral Oil Market Share, by Geography, 2023 (%)

Active Key Players in the White Mineral Oil Market

o   British Petroleum (BP) (UK)

o   Chemtura (USA)

o   Chevron Corporation (USA)

o   ENI S.p.A. (Italy)

o   ExxonMobil (USA)

o   Marubeni Corporation (Japan)

o   Nynas AB (Sweden)

o   REPSOL (Spain)

o   Royal Dutch Shell (Netherlands)

o   Sasol (South Africa)

o   Other key Players

Global White Mineral Oil Market Scope