Dallas/Texas, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The global white mineral oil market share has benefited from the increasing use of cutting-edge technologies and group II base oil by numerous manufacturers. The demand for white mineral oil from the personal care industry is rising as consumer expenditure on personal care items rises in developing nations. Demand for white oil is positively impacted by rising consumer demand for packaged food products as a result of changing eating patterns and lifestyles. In order to create adhesives for food packaging, white oil is needed. This oil is also used to create polymer packaging for food packing.
By 2029, the global white mineral oil market is expected to have grown from its current value of US$ 4.13 billion to US$ 4.99 billion, at a CAGR of 4.9%.
White mineral oils are very refined mineral oils made of a blend of paraffinic and naphthenic hydrocarbons, which are mostly found in petroleum. They do not change color over time, are hydrophobic, and have no taste or odor. This white mineral oil's inert properties make it simple to incorporate it into a variety of formulations as a lubricant, smoother, softener, and moisture-resisting agent. This makes it a valuable ingredient in medications and personal care products.
Top manufacturers in the industry:
- Sinopec Corporation
- Chevron Corporation
- China Petroleum & Chemical Corporation
- British Petroleum
- Eastern Petroleum Pvt Ltd
- Exxon Mobil Corporation.
- Panama Petrochem Ltd.
- Renkert Oil, Inc.
- Royal Dutch Shell plc,
- Nynas AB
- Sasol Limited
- Sonneborn LLC
- Total S.A.
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In addition to these uses, white mineral oil is also utilized as a carrier solvent in industrial applications and in the manufacture of pesticides, textile auxiliaries, dye intermediates, agrochemicals, polymers, specialized lubricants, and specialty chemicals, as well as incense. These numerous uses for white mineral oil are driving up demand in the food, industrial, and pharmaceutical sectors, and it is predicted that this need will continue to increase over the forecast period.
The segment analysis of the white minerals oil market
Segmentation by type
- Food
- Pharmaceutical
- Technical
Segmentation by applications
- Plastic & polymer
- Pharmaceuticals
- Food industry
- Personal care & cosmetics
- Textiles
- Others
- Adhesives
- Personal care
- Textile
- Agriculture
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One of the main benefits expected to drive industry demand is resistance to viruses and harmful aromatics, along with improved chemical and biological stability. Diluents in adhesives, sealants, and caulks are another promising development that will support the global white mineral oil market share overall. For a variety of applications that assist market expansion, the component serves as a mold release, wetting agent, and carrier for resin catalysts. The market value for white oil may be constrained by aspects including exorbitant preparation expenses for personal care goods, a lack of high-quality crude lubricant, price volatility, and pricing uncertainty.
Regions covered in the market
North America
United States, and Canada
Europe
Germany, France, UK,and Rest of Europe
Asia-Pacific
China, Japan, India, Southeast Asia, and Rest of Asia-Pacific
South America
Brazil, Maxico, Rest of South America
Middle East & Africa
By 2029, the food-grade segment is expected to reach more than USD 158 million during the prediction period. For dough dividers and dust suppression in the food processing industry, food-grade white mineral oil is frequently utilized. Because they have been certified for food contact, the food-grade materials are safe to use as a lubricant in facilities that prepare food and beverages. Additionally, the rate of product acceptance may be influenced by the need for machine maintenance of safety requirements. Additionally, extensive use in food-grade lubricants, release agents, and wrapping paper materials will promote global white mineral oil market growth.
Due to the existence of top businesses like ExxonMobil Fuels & Lubricants, Sonneborn, and Chevron Corporation, the white mineral oil market in North America is the one that generates the most revenue. The need for goods used in hair care, baby care, moisturizers, emollients, and protection will also drive the size of the local industry. New opportunities for industry growth will be opened up by rising spending on personal care and cosmetic items.
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Competitive landscape
In February 2019, Sonneborn US Holdings, Inc. and Sonneborn Co. peratief U.A. was purchased by HollyFrontier Corporation. The company's specialty products were strengthened by this acquisition. Through Sonneborn's distribution network, HollyFrontier Corporation was also able to grow in North America and Europe.
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