Global White Mineral Oil Market Overview
The White Mineral Oil Market Size was estimated at 1.64 (USD Billion) in 2022.The White Mineral Oil Industry is expected to grow from 1.69(USD Billion) in 2023 to 2.2 (USD Billion) by 2032. The White Mineral Oil Market CAGR (growth rate) is expected to be around 2.99% during the forecast period (2024 - 2032).
Key White Mineral Oil Market Trends Highlighted
The White Mineral Oil Market is driven by increasing demand from the personal care and pharmaceutical industries, as well as the automotive sector. The increasing awareness of the benefits of white mineral oil in cosmetics, e.g., skincare, hair care products, and other miscellaneous uses, is driving the upward trajectory of this market. White mineral oil is also utilized in diverse formulations in the pharmaceutical industry, where it acts as an excipient and lubricant.
Key market opportunities exist for the development of biodegradable and environmentally friendly white mineral oils, particularly those for use in sustainable personal care products and packaging materials. For instance, there is a growing demand for high-purity white mineral oils in the pharmaceuticals and food industries, hence presenting ample opportunities for market expansion.
Recent trends in white mineral oil include the adoption of advanced refining technologies to improve product quality and reduce impurities. Other recent developments include the increased adoption of synthetic lubricants within the automotive sector, which has escalated demand for high-performance white mineral oils that exhibit excellent thermal stability and resistance against oxidation. Additionally, increased emphasis on regulatory compliance and customer safety have impacted the production and distribution of highly certified white mineral oils made following the highest quality standards.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
White Mineral Oil Market Drivers
Increasing Demand from Pharmaceutical and Personal Care Industries
White mineral oil is widely used in the pharmaceutical and personal care industries as an ingredient in various products such as ointments, creams, and cosmetics. Its emollient properties make it an ideal base for these products, and its purity and lack of toxicity ensure its safety for use on the skin. The growing demand for these products, particularly in emerging markets, is expected to drive the growth of the white mineral oil market in the coming years.Furthermore, the increasing popularity of natural and organic personal care products is also contributing to the demand for white mineral oil, as it is a plant-based, sustainable alternative to synthetic ingredients.
Rising Adoption in Industrial Applications
White mineral oil finds application in various industrial processes, including metalworking, textiles, and rubber manufacturing. Its lubricating properties make it an effective cutting fluid in metalworking operations, and its water-repellency makes it suitable for use in textile and rubber processing. The expanding manufacturing sector in emerging economies is expected to boost the demand for white mineral oil in industrial applications in the coming years.
Growing Demand for Lubricants
White mineral oil is used as a base oil in the production of lubricants for various industrial and automotive applications. Its high viscosity index and low volatility make it an ideal choice for high-performance lubricants. The increasing demand for lubricants in industries such as automotive, manufacturing, and mining is expected to drive the growth of the white mineral oil market in the coming years.
White Mineral Oil Market Segment Insights
White Mineral Oil Market Grade Insights
The White Mineral Oil Market segmentation by Grade includes Technical White Mineral Oils, Pharmaceutical White Mineral Oils, and Food Grade White Mineral Oils. Technical White Mineral Oils held the largest White Mineral Oil Market revenue share in 2023, and this trend is expected to continue through 2032. Technical White Mineral Oils are highly refined and have a low viscosity, making them ideal for use in a variety of industrial applications, including metalworking, textile manufacturing, and rubber processing. Pharmaceutical White Mineral Oils are also expected to witness significant growth over the forecast period.These oils are used in a variety of pharmaceutical and personal care products, such as ointments, creams, and lotions. The growing demand for these products is expected to drive the growth of the Pharmaceutical White Mineral Oils segment. Food Grade White Mineral Oils are used in a variety of food applications, such as food processing, packaging, and storage. These oils are safe for human consumption and have a long shelf life, making them ideal for use in a variety of food products. The growing demand for processed foods is expected to drive the growth of the Food Grade White Mineral Oils segment.Overall, the White Mineral Oil Market is expected to witness steady growth over the forecast period. The increasing demand for white mineral oils in a variety of industrial, pharmaceutical, and food applications is expected to drive the growth of this market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
White Mineral Oil Market Application Insights
The White Mineral Oil Market is segmented based on application into Automotive and Industrial Lubricants, Personal Care and Cosmetics, Pharmaceutical and Medical, Food and Beverage, and Rubber and Plastics. Among these segments, the Automotive and Industrial Lubricants segment is expected to hold the largest market share in 2024, owing to the increasing demand for white mineral oil in the automotive industry for the production of lubricants, greases, and other fluids. The Personal Care and Cosmetics segment is also expected to witness significant growth, driven by the rising demand for white mineral oil in the production of skincare products, cosmetics, and toiletries.The Pharmaceutical and Medical segment is another major application segment, with white mineral oil being used as a base oil for ointments, creams, and other pharmaceutical formulations. The Food and Beverage segment is also expected to grow steadily, with white mineral oil being used as a processing aid and as an ingredient in food products. The Rubber and Plastics segment is expected to witness moderate growth, with white mineral oil being used as a plasticizer and as a processing aid in the production of rubber and plastic products.
White Mineral Oil Market Viscosity Insights
The viscosity segment is a crucial factor in determining the functionality and applications of white mineral oils. Light viscosity oils (10-15 cSt) exhibit low resistance to flow and are commonly used in cosmetic and personal care products, including baby oils, lotions, and hair care formulations. Medium viscosity oils (30-50 cSt) offer a balance of flow properties and are widely employed in industrial applications, such as metalworking fluids, cutting oils, and hydraulic fluids. High-viscosity oils (75-150 cSt) possess a higher resistance to flow and are suitable for specialized applications, including heavy-duty machinery lubricants and greases.The White Mineral Oil Market segmentation by viscosity provides valuable insights into the market growth, revenue generation, and industry trends. This data aids manufacturers, suppliers, and stakeholders in developing targeted strategies, optimizing product portfolios, and catering to diverse customer requirements.
White Mineral Oil Market Source Insights
The White Mineral Oil Market is segmented by Source into Petroleum-Based and Synthetic-Based. The Petroleum-Based segment held a larger market share in 2023 due to the widespread availability and cost-effectiveness of petroleum-based white mineral oils. The Synthetic-Based segment is projected to grow at a faster CAGR during the forecast period owing to the increasing demand for synthetic-based white mineral oils in pharmaceutical and cosmetic applications, where purity and consistency are critical. In 2023, the Petroleum-Based segment accounted for around 65% of the White Mineral Oil Market revenue, while the Synthetic-Based segment accounted for approximately 35%.The market growth for both segments is influenced by factors such as rising demand from end-use industries, technological advancements, and regulatory changes.
White Mineral Oil Market Regional Insights
The regional segmentation of the White Mineral Oil Market provides insights into key geographic markets and their contribution to the overall industry. North America holds a dominant position, accounting for approximately 35% of the White Mineral Oil Market revenue in 2023. The region's well-established pharmaceutical and personal care industries, along with increasing demand from end-use sectors, drive growth in this market. Europe follows closely, capturing a market share of around 30%. The region's stringent regulatory environment and focus on product quality contribute to the demand for white mineral oil in various applications.APAC is projected to witness significant growth, with a CAGR of 4.5% during the forecast period. The region's rapidly expanding economies, coupled with rising disposable income, fuel demand for white mineral oil in personal care and industrial applications. South America and MEA represent smaller but emerging markets, offering growth opportunities for industry participants.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
White Mineral Oil Market Key Players And Competitive Insights
Major players in the White Mineral Oil Market industry are adopting various strategies to maintain their position in the market and gain a competitive advantage. These strategies include, but are not limited to, product innovation, geographical expansion, strategic partnerships, and acquisitions.One of the leading White Mineral Oil Market players is Sonneborn. The company is a leading manufacturer of white mineral oils and other specialty oils. Sonneborn has a global presence, and its products are used in a variety of industries, including the pharmaceutical, cosmetic, and food industries. Another major player in the White Mineral Oil Market industry is Nynas. The company is a leading supplier of naphthenic and paraffinic oils. Nynas has a global presence, and its products are used in a variety of industries, including the automotive, construction, and paper industries.Another major player in the White Mineral Oil Market industry is Chemtrade Logistics Income Fund. The company is a leading provider of logistics and supply chain solutions for the chemical industry. Chemtrade Logistics Income Fund has a global presence, and its services are used by a variety of companies in the chemical industry.
Key Companies in the White Mineral Oil Market Include
- Petroliam Nasional Berhad
- Sanyo Chemical Industries, Ltd.
- Royal Dutch Shell plc
- Kuwait Petroleum Corporation
- T BioPharm Co. Ltd.
- Idemitsu Kosan Co., Ltd.
- Qatar Petroleum
- Chevron Phillips Chemical Company
- ExxonMobil Corporation
- Sinopec Corp
- Mitsui Chemicals, Inc.
- TotalEnergies SE
- Innospec Inc.
- PetroChina Company Limited
- Saudi Arabian Oil Company (Saudi Aramco)
White Mineral Oil Market Industry Developments
The White Mineral Oil Market is projected to grow from an estimated USD 1.69 billion in 2023 to USD 2.2 billion by 2032, at a CAGR of 2.99%. Rising demand from the pharmaceutical and food-beverage industries is driving market growth. White mineral oil is used as a lubricant, moisturizer, and emollient in various pharmaceutical products, such as ointments, creams, and lotions. It is also used as a carrier oil for active pharmaceutical ingredients. In the food beverage industry, white mineral oil is used as a food-grade lubricant for machinery and as a processing aid in the production of food products, such as chewing gum and candy. Recent news developments include the acquisition of Sonneborn by Innospec in 2022, which strengthened Innospec's position in the white mineral oil market. Additionally, the growing adoption of white mineral oil in personal care products, such as cosmetics and toiletries, is expected to create new opportunities for market growth.
White Mineral Oil Market Segmentation Insights
- White Mineral Oil Market Grade Outlook
- Technical White Mineral Oils
- Pharmaceutical White Mineral Oils
- Food Grade White Mineral Oils
- White Mineral Oil Market Application Outlook
- Automotive and Industrial Lubricants
- Personal Care and Cosmetics
- Pharmaceutical and Medical
- Food and Beverage
- Rubber and Plastics
- White Mineral Oil Market Viscosity Outlook
- Light Viscosity (10-15 cSt)
- Medium Viscosity (30-50 cSt)
- High Viscosity (75-150 cSt)
- White Mineral Oil Market Source Outlook
- Petroleum-Based
- Synthetic-Based
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.64(USD Billion) |
| Market Size 2023 |
1.69(USD Billion) |
| Market Size 2032 |
2.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
2.99% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Petroliam Nasional Berhad, Sanyo Chemical Industries, Ltd., Royal Dutch Shell plc, Kuwait Petroleum Corporation, T BioPharm Co. Ltd., Idemitsu Kosan Co., Ltd., Qatar Petroleum, Chevron Phillips Chemical Company, ExxonMobil Corporation, Sinopec Corp, Mitsui Chemicals, Inc., TotalEnergies SE, Innospec Inc., PetroChina Company Limited, Saudi Arabian Oil Company (Saudi Aramco) |
| Segments Covered |
Grade, Application, Viscosity, Source, Regional |
| Key Market Opportunities |
1 Pharmaceutical2 Cosmetics3 Healthcare4 Lubricants5 Plastics |
| Key Market Dynamics |
Growth in the pharmaceutical industry Rising demand from the cosmetics sector Increasing use in food processing Expansion of manufacturing industries Technological advancements |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Global White Mineral Oil Market size was valued at USD 1.69 billion in 2023 and is projected to reach USD 2.2 billion by 2032, exhibiting a CAGR of 2.99% during the forecast period.
North America is expected to dominate the Global White Mineral Oil Market throughout the forecast period. The region's large population base and growing pharmaceutical and personal care industries are key factors driving the market growth.
White Mineral Oil finds applications in a wide range of industries, including personal care, pharmaceuticals, food, and industrial lubricants. In personal care, it is used as a base for cosmetics, moisturizers, and baby oils. In pharmaceuticals, it is used as a carrier for active ingredients and as a lubricant in ointments and creams.
Some of the key competitors in the Global White Mineral Oil Market include: - ExxonMobil - Chevron - Shell - BP - TotalEnergies - PetroChina - Sinopec - Saudi Aramco - Neste - and Repsol.
The growth of the Global White Mineral Oil Market is primarily driven by the increasing demand from the personal care and pharmaceutical industries. Rising disposable income and growing awareness about personal hygiene are contributing to the growth of the personal care industry, leading to increased demand for White Mineral Oil as a base for cosmetics and moisturizers.
One of the major challenges faced by the Global White Mineral Oil Market is the volatility in crude oil prices. White Mineral Oil is a derivative of crude oil, and its price is directly linked to the price of crude oil. Fluctuations in crude oil prices can impact the profitability of White Mineral Oil manufacturers.
Sustainability is an emerging trend in the Global White Mineral Oil Market. Consumers are increasingly demanding products that are produced in an environmentally friendly manner. White Mineral Oil manufacturers are responding to this trend by investing in sustainable production processes and developing biodegradable White Mineral Oils.
The regulatory landscape of the Global White Mineral Oil Market varies by region. In the United States, White Mineral Oil is regulated by the Food and Drug Administration (FDA) as an indirect food additive. In the European Union, White Mineral Oil is regulated by the European Chemicals Agency (ECHA) under the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) Regulation.
The future outlook of the Global White Mineral Oil Market is positive. The market is expected to continue to grow over the forecast period, driven by the increasing demand from the personal care and pharmaceutical industries. Rising disposable income and growing awareness about personal hygiene are expected to further fuel the growth of the market.
Key opportunities for growth in the Global White Mineral Oil Market include: - Expanding into new applications, such as food and industrial lubricants - Developing new products, such as biodegradable White Mineral Oils - Expanding into new markets, such as emerging economies.
