"Innovative Market Solutions to Help Businesses Make Informed Decisions"

White Oil Market Size, Share & COVID-19 Impact Analysis, By Product Grade (Pharmaceutical and Technical), By End-use Industry (Pharmaceutical, Personal Care & Cosmetics, Food & Beverages, Textile, Plastic & Polymer, and Others), and Regional Forecast, 2023-2030

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI108783



Play Audio Listen to Audio Version

The global white oil market size was valued at USD 2.88 billion in 2022 and is projected to grow from USD 2.43 billion in 2023 to USD 3.26 billion by 2030, exhibiting a CAGR of 4.3% during the forecast period. Asia Pacific dominated the white oil market with a market share of 59.37% in 2022.

White oil is a complex mixture of hydrocarbons refined intensively from mineral oils. These mineral oils primarily consist of paraffin. They are highly pure, have low toxicity, and possess chemical stability, making them an ideal choice for industries such as personal care, pharmaceuticals, and food. Given that products from these industries come into contact with human skin or are ingested, mineral oils with high purity find widespread use.


Supply Chain Disruptions Caused by COVID-19 Pandemic Restricted Market Growth

The COVID-19 pandemic had a detrimental impact on this market. The effects of the global lockdown restrictions enforced during the early phases of the pandemic were not uniform across different end-use industries that use these types of oils. Due to the restrictions, non-essential end-use industries, such as personal care & cosmetics, plastic & polymer, and textile experienced a significant decline in demand. On the other hand, essential end-use industries, such as pharmaceutical and food demonstrated a relatively less decline in demand during this period.


Rising Demand for Safe Beauty and Personal Care Products to Offer New Market Growth Opportunities

The rising demand for safe beauty and personal care products is likely to create new growth opportunities for the market. In recent times, there is a greater emphasis on using non-toxic and naturally derived ingredients in personal care and beauty products. Despite the fact that these types of oils are derived from petroleum, it is inert and non-toxic in nature. Companies can develop natural and organic formulations using this oil as a base. Mineral oil can be used as a clean and safe ingredient for the production of beauty and personal care products. As the popularity of clean consumerism increases, more shoppers are likely to gravitate toward naturally derived and cruelty & toxin-free products. This shift in consumer preference is expected to create new opportunities for the white oil market growth.

Request a Free sample to learn more about this report.


Rising Demand from Pharmaceutical Industry to Fuel Market Growth

White oil plays a crucial role in the pharmaceutical industry as it is used as an ingredient in various formulations and medications. Typically employed as inert pharmaceutical substances, these oils are added to medicinal products to act as carriers or enhance the stability and texture of the formulation. They find use in oral medications, ointments, creams, lotions, and other medical formulations. This oil provides lubrication, aids in drug solubility, and improves the overall effectiveness of pharmaceutical products. Considered safe, stable, and non-irritating, pharmaceutical manufacturers are likely to continue its use in existing as well as new formulations. With the global population increasing and aging, the demand for this oil - an essential component in various medications and personal care products - is expected to rise in tandem. Hence, these factors are poised to drive market growth during the forecast period.


Fluctuating Raw Material Prices to Hinder Market Growth

White oil, a refined form of mineral oil derived from petroleum, is susceptible to fluctuations in crude oil prices. The direct impact of fluctuating oil prices affects the production cost of this oil. During periods of high oil prices, the production and refining of oil products become expensive, potentially diminishing profitability for manufacturers. Fluctuating oil prices can also significantly influence consumer behavior and the demand for these oil products. Consumers may seek alternative products or reduce their consumption of petroleum-based products, including this oil. This shift in demand can exert a negative influence on market growth.


By Product Grade Analysis

Pharmaceutical Segment Dominates Owing to Its Demand from Various Applications

Based on grade, the market is categorized into pharmaceutical and technical.

The pharmaceutical segment dominated the market in 2022 and is expected to maintain its dominance until 2030. Pharmaceutical-grade white oil is tailored specifically for pharmaceutical and personal care products, meeting strict purity standards mandated by regulatory authorities. In contrast, technical-grade oil finds primary use in industrial applications and has less stringent quality requirements. However, the minimal price difference between both grades does not act as a cost inhibitor. Consequently, most end-users have shifted toward using pharmaceutical-grade oil, regardless of the application.

By End-use Industry Analysis

To know how our report can help streamline your business, Speak to Analyst

Personal Care & Cosmetics Gained Traction Owing to White Oil Use in Several Consumer Products

Based on end-use industry, the market is segmented into pharmaceutical, personal care & cosmetics, food & beverages, textile, plastic & polymer, and others.

The personal care & cosmetics segment held the largest white oil market share in 2022 and is anticipated to maintain its dominance throughout the forecast period. With global consumers increasingly mindful of their personal grooming and appearance, the demand for cosmetics, skincare, and personal care products has been steadily rising. White oil serves as a key ingredient in many of these products due to its unique qualities, such as being colorless, odorless, and skin-safe, making it a preferred choice for formulations ranging from lotions and creams to lipsticks and baby oils.

The pharmaceutical segment accounted for the second-largest share of the market. In the pharmaceutical sector, consistency, quality, and adherence to strict regulatory guidelines are paramount. White oil, owing to its purity and inertness, plays a crucial role in pharmaceutical formulations. It acts as a lubricant, an excipient in tablet coatings, and a base for various ointments. This ensures the effectiveness and safety of medicines for consumption.


Asia Pacific White Oil Market Size, 2022 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample

In Asia Pacific, the personal care and cosmetics industries are experiencing substantial growth, propelled by factors such as the rising middle-class population and increasing urbanization. Both local brands and international players are capitalizing on this trend, integrating these oils into a wide range of skincare and cosmetic products. Simultaneously, the pharmaceutical industry in the region is rapidly expanding due to a growing population and heightened healthcare awareness.

Given the region's robust industrialization, the manufacturing sector requires effective lubricants to maintain its machinery and equipment. This oil serves as a lubricant in various industrial processes, including metalworking, textile manufacturing, and plastic production. China leads in the region, and its rapid economic growth, population expansion, and evolving consumer preferences are expected to drive product demand across various industries. These industries encompass key sectors such as pharmaceuticals, personal care & cosmetics, food processing, industrial manufacturing, and agriculture.

To know how our report can help streamline your business, Speak to Analyst

The demand for these types of oils in North America is primarily propelled by the robust growth of the cosmetics & personal care industry. Consumers in this region prioritize skincare and grooming products, resulting in a consistent demand for these oils in cosmetic products. Additionally, the pharmaceutical sector in the region significantly contributes to the increasing product demand, emphasizing the production of high-quality, FDA-compliant medications and healthcare products. The high purity and inert properties of white oil position it as a preferred ingredient in these products, fulfilling the demand for clean label and safe formulations.

Europe places a strong emphasis on food safety and quality standards. The exceptional purity and inertness of white oil make it an ideal choice for various food-related applications. Widely used as a food-grade lubricant in machinery involved in food processing, it ensures smooth production lines while meeting stringent safety regulations. As the food industry in the region continues to innovate and adapt to changing consumer needs, the versatile and compliant nature of white oil as an ingredient and lubricant is expected to maintain its importance, thereby driving market growth.

The market in Latin America is anticipated to experience steady growth due to the region’s expanding industrial and manufacturing sectors. These oils serve as high-quality lubricants and coolants in various machines within these sectors. The strong focus on industrialization and infrastructure development in Mexico and Brazil is likely to propel the demand for these types of oils during the forecast period.


Business Expansion in Electronic Industry to Emerge As Key Strategy Employed by Market Players

The market is majorly occupied by key players such as Exxon Mobil Corporation, Calumet Refining, LLC, Repsol, Sasol, Shell plc, and TotalEnergies. These companies operate globally, engaging in competition focused on price, product quality, and service. Established players leverage economies of scale, established distribution networks, and longstanding relationships with key customers. Despite limited product differentiation in the market, companies can enhance their competitive edge by focusing on specialized products for niche applications.



An Infographic Representation of White Oil Market

To get information on various segments, share your queries with us

The research report provides a detailed analysis of the market and focuses on crucial aspects, such as leading companies, applications, and products. It also offers insights into the key white oil market trends and highlights vital industry developments. In addition, the report encompasses various factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year 


Forecast Period


Historical Period


Growth Rate

CAGR of 4.3% from 2023-2030


Value (USD Billion), Volume (Kiloton)


By Grade

  • Pharmaceutical

  • Technical

By End-use Industry

  • Pharmaceutical

  • Personal Care & Cosmetics

  • Food & Beverages

  • Textile

  • Plastic & Polymer

  • Others

By Geography

  • North America (By Grade, End-use Industry, Country)

    • U.S. (By End-use Industry)

    • Canada (By End-use Industry)

  • Europe (By Grade, End-use Industry, Country)

    • Germany (By End-use Industry)

    • U.K. (By End-use Industry)

    • France (By End-use Industry)

    • Italy (By End-use Industry)

    • Spain (By End-use Industry)

    • Rest of Europe (By End-use Industry)

  • Asia Pacific (By Grade, End-use Industry, Country)

    • China (By End-use Industry)

    • India (By End-use Industry)

    • Japan (By End-use Industry)

    • South Korea (By End-use Industry)

    • Rest of Asia Pacific (By End-use Industry)

  • Latin America (By Grade, End-use Industry, Country)

    • Brazil (By End-use Industry)

    • Mexico (By End-use Industry)

    • Rest of Latin America (By End-use Industry)

  • Middle East & Africa (By Grade, End-use Industry, Country)

    • South Africa (By End-use Industry)

    • Saudi Arabia (By End-use Industry)

    • Rest of Middle East & Africa (By End-use Industry)

Frequently Asked Questions

Fortune Business Insights says that the global market size was valued at USD 2.88 billion in 2022 and is projected to reach USD 3.26 billion by 2030.

Registering a significant CAGR of 4.3%, the market will exhibit considerable growth during the forecast period of 2023-2030.

The personal care & cosmetics segment is the leading end-use industry in the market.

Rising product demand from the pharmaceutical industry is expected to fuel market growth.

Asia Pacific held the highest share of the market in 2022.

Exxon Mobil Corporation, Calumet Refining, LLC, Repsol, Sasol, Shell plc, and TotalEnergies are the leading players in the market.

Rising demand for safe beauty and personal care products are likely to drive the product’s adoption.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2030
  • 2022
  • 2019-2021
  • 250

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients


Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.