The White Oil Market size will exceed USD 2 billion by 2024 according to a new research report by Global Market Insights, Inc.
Increasing white oil consumption as lubricator, moisturiser and insulator in cosmetics, pharmaceutical and textile industries will propel the industry growth. Continuing growth of cosmetics including sunscreens, emollient creams, suntans lotions, cleansers, makeup & hair care products will provide new opportunities for the industry. Advancement in production process enables complete removal of dust particles, improving its purity, odourless and tasteless properties, which enhances white oil market penetration in various end use industries.
Personal care & cosmetics white oil market is set to observe growth exceeding 2.5% up to 2024. Rising demand for pure, durable and consistent products along with growing consumer spending has enhanced the industry growth. High consumption in bath & baby oil, lotions, creams and emollients are the supporting factors of the product development.
Asia Pacific led by China, India and Taiwan accounted for more than 60% of the overall white oil market consumption. Expansion in textile, agriculture and cement industry will enhance the revenue growth in this region.
The US will witness a significant market growth at over 4.5%, with strong consumption in protective diluents, emollients, moisturizers, baby care and hair care products will propel the regional demand. Regulatory compliance accompanied by product innovations particularly in healthcare industry will surge the white oil market growth.