White Oil Industry, Forecast to 2025 by Application, Grade, Viscosity and Geography
DUBLIN, Feb. 17, 2020 /PRNewswire/ -- The "White Oil Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
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The market globally for White Oil is expected to grow at a CAGR of approximately 1.5% during the forecast period of 2019-2024. Major factors driving the market studied is the increasing use of cosmetics.
Cosmetics is one of the major applications for white oils. White oils are used as a base oil in a variety of products, such as hair oils, hair creams, makeup products, facial creams, and body lotions. Their application in cosmetics accounted for a healthy share of the global market in 2018.
The increasing pharmaceutical industry is also providing growth to the white oil market. In the pharmaceutical industry, it is used in the manufacturing of ointments, emollients, eye lubricants, and in the penicillin production process.
However, stringent government regulations on the use of white oil in the food and pharmaceutical industries is acting as restraint to the market studied.
The Global White Oil market is partially consolidated with many healthy competitions in the market. The major companies are Bharat Petroleum Corporation Ltd. (BPCL), British Petroleum, Calumet Specialty Products Partners, Columbia Petro Chem Pvt. Ltd, ExxonMobil Corporation, H&R Group, HollyFrontier Corporation (Sonneborn), JX Nippon Oil & Energy Corporation among others.
Increasing Demand from Personal Care across the Globe
-- White oils are an important part of many cosmetic formulations and are
commonly used in almost all types of cosmetic and personal care
products, from emulsions to anhydrous cosmetics, such as lip balm, baby
oil, skin care, hair care, creams, lotions, and emollients.
-- This oil is used in hand and body care cosmetics at levels ranging from
1% to 99%, depending on the quality of the product needed. For example,
pressed powders, mascara, eyeliner, and foundations have up to 60% white
oil, and eye makeup remover contains 99% white mineral oil.
Cosmetic-grade white oil is used in this application, which is refined
to meet specifications appropriately.
-- In Europe, the white oil used in the cosmetic lip care products should
be in line with the purity specifications on polycyclic aromatic
hydrocarbons, as reflected in the safety requirements given in EU
cosmetic regulation 1223/2009. In 2009 and 2013, the European Food
Safety Authority had established an ADI (Acceptable Daily Intake) of 12
mg/kg bw/day for high viscosity and medium viscosity white mineral oils.
-- Exxon Mobil Corporation and Sonneborn LLC (HollyFrontier Corporation)
are the major manufacturers offering white oil products for personal
care and cosmetics applications.
-- The personal care segment accounted for the second-largest share, in
terms of application, in 2018. Globally, the cosmetics market has been
growing continuously with a significant Y-o-Y growth rate. In 2018, the
market for cosmetic products had observed a growth rate of 5.50% over
2017, according to L'Oreal. This, in turn, is expected to drive the
market for white oil in the manufacturing of cosmetic products.
Asia Pacific to Dominate the Market
-- Asia Pacific region is both the largest and fastest growing market for
White Oil.
-- Asia-Pacific region accounted for around 61% of the white oil
consumption. China is the largest consumer of white oil in the
Asia-Pacific region.
-- China is becoming the largest market for cosmetics and skincare
products, globally. The beauty sector in the country has witnessed a
growth of around 5% over the past ten years, and it is set to grow at
around the same rate throughout the upcoming years too.
-- In India, the largest application of white oils in the country is the
hair oil, which is a part of the cosmetics and personal care industry.
The overall cosmetics and pharmaceutical industries account for around
three-fourths of the white oil consumption in the country.
-- Japan is the world's third-largest cosmetics market. Although Japanese
demographics are shrinking, an upturn in consumer confidence and the
demand from incoming tourists have been driving the growth of the
cosmetics market.
-- Japan has more than 2,500 cosmetics manufacturers, of which Shiseido and
Kao rank 7th and 9th, respectively, among global cosmetics companies.
-- Moreover, with the growing demand for Japan-made cosmetics from Asian
consumers, manufacturers are investing in cosmetics production in the
country. Recently, one of the largest cosmetics producers in the
country, Shiseido, has announced an investment of JPY 40 billion to 50
billion to open a new factory in the southern main island of Kyushu
around 2021. The company is also planning to build two other plants in
Tochigi Prefecture, by 2019 and Osaka Prefecture, by 2020 to double its
production capacity in the country.
-- Owing to the increasing demand for textiles, plastics/polymers,
cosmetics, pharmaceuticals, and adhesives, the demand for white oils is
likely to increase during the forecast period.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Cosmetics and Personal Care Industry
4.1.2 Increasing Pharmaceutical Industry
4.2 Restraints
4.2.1 Stringent Government Regulations on the Use of White Oil in the Food and Pharmaceutical Industries
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Application
5.1.1 Plastics and Elastomers
5.1.2 Adhesives
5.1.3 Personal care
5.1.4 Agriculture
5.1.5 Textile
5.1.6 Food and Beverage
5.1.7 Pharmaceutical
5.1.8 Metalworking Applications
5.1.9 Other Applications
5.2 Grade
5.2.1 Technical/Industrial Grade
5.2.2 Pharmaceuticals Grade
5.3 By Viscosity
5.3.1 Low
5.3.2 Medium
5.3.3 High
5.4 Geography
5.4.1 Asia-Pacific
5.4.2 North America
5.4.3 Europe
5.4.4 Rest of World
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Bharat Petroleum Corporation Ltd. (BPCL)
6.4.2 Calumet Specialty Products Partners
6.4.3 Columbia Petro Chem Pvt. Ltd.
6.4.4 ExxonMobil Corporation
6.4.5 H&R Group
6.4.6 HollyFrontier Corporation (Sonneborn)
6.4.7 Nynas AB
6.4.8 Oxiteno
6.4.9 Renkert Oil
6.4.10 Royal Dutch Shell PLC
6.4.11 Sasol
6.4.12 Savita Oil
6.4.13 Sinopec Petrochemical & Chemical Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Potential Usage in the Food and Beverage Industry
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