21st June 2019 – The Global White Oil Market is likely to grow at a significant CAGR in the forecast period. White oil is normally referred to as a mineral white oil or baby oil and is manufactured from highly refined paraffinic and napthenic hydrocarbons resulting from crude oil. The product is extremely versatile and pure. The manufacturing process either involves solvent refining, dewaxing and hydrotreating.
The white oil market is highly driven by rise in demand for petrochemicals and refined oil products. Demand for white oil for miscellaneous purposes is likely to generate more revenue in the market. It also has an industrial significance for chemical process and formulations. It is widely used in the manufacture of elastomers and adhesives owing to moisture-resistant and waste properties. However, fluctuation in oil price and political instability in certain countries are likely to hamper the market growth in the forecast period.
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- Textile Auxiliaries
- Solvent Naphtha
- Resins & Cohesives
- CNPC Group
- JX Nippon Oil & Energy
- Sinopec Group
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Geographical segmentation for white oil market includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are expected to dominate the market in the forecast period owing to rise in use of medicine, cosmetics, thermoplastics and textiles. North American and European market has witnessed an upper hand due to change in lifestyle and widespread awareness pertaining to use of white oil. Middle Eastern and African markets are likely to gain a significant CAGR in the forecast period due to production of specialty chemicals and polymers in the region.
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