White Oil Market Analysis: Growth, Size, Share & Future Trends (2024-2029)

The market report offers a detailed analysis segmented by Grade (Food, Pharmaceutical, Technical); by Application (Plastics & Rubber, Pharmaceuticals, Personal Care & Cosmetics, Food Industries, Textiles, Others); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The white oil market is estimated to be at USD 2,271.86 Mn in 2025 and is anticipated to reach USD 2,753.11 Mn in 2030. 

• The white oil market is registering a CAGR of 3.92% during the forecast period 2025-2030. 

• White oil, also known as mineral oil, is a highly refined petroleum product commonly used across various industries, including pharmaceuticals, cosmetics, plastics, and food processing. It is valued for its chemical stability, colorless, and odorless features. 

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Ecosystem 

• The global white oil industry participants are constantly developing strategies to preserve a competitive advantage. 

• These companies offer various industrial, food-grade, and pharmaceutical-grade products, acquisitions, research & development, partnerships, and technological launches. 

• Several important entities in the white oil market include Exxon Mobil Corp.; Bharat Petroleum Corp., Ltd.; Sasol Ltd.; Petro‐Canada; Royal Dutch Shell Plc; and others. 

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Findings 

Attributes	Values
Historical Period	2019-2023
Base Year	2024
Forecast Period	2025-2030
Market Size (2025)	USD 2,271.86 Mn
Market Size (2030)	USD 2,753.11 Mn
Growth Rate	3.92% CAGR from 2025 to 2030
Key Segments	Grade (Food, Pharmaceutical, Technical); Application (Plastics & Rubber, Pharmaceuticals, Personal Care & Cosmetics, Food Industries, Textiles, Others); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Exxon Mobil Corp.; Bharat Petroleum Corp., Ltd.; Sasol Ltd.; Petro‐Canada; Royal Dutch Shell Plc
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; China; India; Japan; The UK; Germany; France; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends  

• Innovation in Pharmaceutical-Grade White Oils: The innovation trend in pharmaceutical-grade white oils is evident as manufacturers enhance refining processes to achieve superior quality and meet stringent regulatory standards. This focus on innovation expands the application range of white oils and enhances their suitability for formulations that demand reliable and effective performance. 

• Shift Toward Environmentally Friendly Products: The white oil industry is witnessing a shift towards more environmentally friendly, bio-based alternatives. Companies are developing bio-based white oils to meet stringent environmental regulations and cater to the growing eco-conscious consumer base. In 2022, TotalEnergies introduced a new range of bio-based white oils to align with sustainability goals. 

• Focus on High-Performance White Oils: The cosmetics and personal care sectors are emphasizing high-performance, hypoallergenic white oils to address consumer preferences for safer and more effective formulations. This trend highlights the focus on ingredient transparency and compatibility with sensitive skin, prompting brands to refine their offerings. Consequently, the market is seeing advancements in the purity and performance of these oils. 

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Catalysts 

• Rising Demand for Personal Care Products: The expansion of the cosmetics and personal care industry is significantly boosting white oil consumption, as these oils are essential ingredients in lotions, creams, and baby products. This increasing utilization highlights the importance of white oils in enhancing product texture and performance. As consumer preferences evolve, the demand for high-quality white oils in various formulations continues to rise. 

• Increasing Application in the Healthcare Industry: White oil is a key ingredient in various pharmaceutical formulations, such as ointments and oral drugs. The increasing demand for healthcare products, particularly in emerging economies, is driving the use of pharmaceutical-grade white oils. For example, Savita Oil Technologies is seeing rising demand for its white oils, driven by the expanding healthcare market in India and Southeast Asia. 

• Growing Use in Plastics and Rubber Industries: The expanding global plastics and rubber markets are driving the increased use of white oil as a processing aid. As plastic consumption and production rise, white oil has become essential in enhancing the processing and performance of various plastic products. This growing demand underscores white oil’s critical role in the manufacturing processes within these industries. 

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Restraints 

• Volatility in Crude Oil Prices: The volatility of crude oil prices, the primary raw material for white oil production, presents a significant challenge for manufacturers. This price instability results in fluctuating white oil production costs, adversely affecting producers’ profitability. As a result, manufacturers face difficulties maintaining consistent pricing and managing operational budgets. 

• Health and Safety Concerns in Low-Quality Products: Quality control issues in producing lower-grade white oils lead to contamination risks, particularly in the cosmetics and food sectors. Contamination in food-grade white oils led to recalls, prompting more stringent quality checks and raising concerns about the safety of white oils in sensitive applications. 

• Environmental Concerns and Regulations: Stricter environmental regulations regarding the use of petroleum-derived products are a growing concern for white oil producers. In 2023, the European Union introduced new guidelines limiting the use of mineral oils in food packaging, pushing the industry to explore alternatives that could hinder white oil demand in certain applications. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global White Oil Market (2019 – 2023)         2.2.    Global White Oil Market (2024 – 2030)  3.       Market Segmentation         3.1.    Global White Oil Market by Grade                3.1.1.    Food                3.1.2.    Pharmaceutical                3.1.3.    Technical         3.2.    Global White Oil Market by Application                3.2.1.    Plastics & Rubber                3.2.2.    Pharmaceuticals                3.2.3.    Personal Care & Cosmetics                3.2.4.    Food Industries                3.2.5.    Textiles                3.2.6.    Others  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    France                4.4.4.    Rest of Europe         4.5.    The Middle East                4.5.1.    UAE                4.5.2.    Saudi Arabia                4.5.3.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global White Oil Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Exxon Mobil Corp.         9.2.    Bharat Petroleum Corp., Ltd.         9.3.    Sasol Ltd.         9.4.    Petro‐Canada         9.5.    Royal Dutch Shell Plc         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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White Oil Market – FAQs 

1.  What is the current size of the white oil market? 

Ans. In 2025, the white oil market size is USD 2,271.86 Mn. 

2.  Who are the major vendors in the white oil market?  

Ans. The major vendors in the white oil market are Exxon Mobil Corp.; Bharat Petroleum Corp., Ltd.; Sasol Ltd.; Petro‐Canada; Royal Dutch Shell Plc. 

3.  Which segments are covered under the white oil market segments analysis?  

Ans. The white oil market report offers in-depth insights into Grade, Application, and Geography.