The white oil market in North America is expected to grow from US$ 427.47 million in 2022 to US$ 516.09 million by 2028. It is estimated to grow at a CAGR of 3.2% from 2022 to 2028.
The North America white oil market is witnessing high growth due to the presence of leading companies, including ExxonMobil Fuels & Lubricants, Sonneborn, and Chevron Corporation. The increasing demand for protective diluents, moisturizers, emollients, hair care, and baby care products is projected to propel the North America market in the years to come. The rise in spending on personal care and cosmetic products will create new avenues for market growth in the region. White oil can be used to ease diaper rash and eczema irritation. According to the National Eczema Association, 31.6 million people in the US (10.1%) have eczema. Eczema is a chronic skin problem in which the skin becomes dry, discolored, itchy, and inflamed. White oil can be administered to the affected area to reduce eczema symptoms. These factors are boosting the North America white oil market in North American countries.
North America White oil market Revenue and Forecast to 2028
Expansion of Pharmaceuticals Industry
In the pharmaceuticals industry, white oil is used as a spray and ointment carrier, a capsule adjuvant, and a release agent. The pharmaceutical market is one of the fastest-growing markets in the region. According to the Pharm approach, the US has the world’s largest pharmaceutical industry in terms of drug development, production, and revenue generation. According to Investopedia, the US leads the position in medical research and development in the global pharmaceutical industry. The pharmaceutical market has also grown without any interruption in recent years. The pharmaceutical companies are primarily involved in producing generics, therapeutic medicines, active pharmaceutical ingredients, and traditional medicines. Therefore, the robust growth of the pharmaceuticals industry in various countries creates the need for white oil in pharmaceutical formulations.Market Overview
US, Canada, and Mexico are the key contributors to the white oil market in the North America. North America is one of the prominent markets for white oil due to its increasing application in various end-use industries across the region. The increasing emphasis on health and wellbeing and the willingness of customers in the region to pay more for high-end products will help increase the rate at which consumers adopt pharmaceuticals, food, personal care, and cosmetics products. Due to favorable regulatory compliance and ongoing product advancements, notably in the healthcare sector, the region will experience significant growth. Additionally, the region's rising polymer and adhesive usage will open up lucrative opportunities for the North America white oil market in the forecast period.The North America white oil market is witnessing high growth due to the presence of leading companies, including ExxonMobil Fuels & Lubricants, Sonneborn, and Chevron Corporation. The increasing demand for protective diluents, moisturizers, emollients, hair care, and baby care products is projected to propel the North America market in the years to come. The rise in spending on personal care and cosmetic products will create new avenues for market growth in the region. White oil can be used to ease diaper rash and eczema irritation. According to the National Eczema Association, 31.6 million people in the US (10.1%) have eczema. Eczema is a chronic skin problem in which the skin becomes dry, discolored, itchy, and inflamed. White oil can be administered to the affected area to reduce eczema symptoms. These factors are boosting the North America white oil market in North American countries.
North America White oil market Revenue and Forecast to 2028
North America White oil market Segmentation
The North America white oil market is segmented into grade, application, and country. - Based on grade, the market is segmented into food, pharmaceutical, and technical. The pharmaceutical segment registered the largest market share in 2022. Based on application, the market is segmented into personal care and cosmetics, pharmaceutical and healthcare, food industries, plastic processing, agriculture, and others. The personal care and cosmetics segment held a largest market share in 2022. Based on country, the market is segmented into U.S, Canada, and Mexico. U.S dominated the market share in 2022. Calumet Specialty Product Partners, Chevron Corporation; EXXON Mobil Corporation; Petro-Canada Lubricants Inc; RENKERT OIL; APAR; Sasol; Sonneborn LLC; and H AND R GROUP are the leading companies operating in the white oil market in the North America.Table of Contents
1. Introduction
3. Research Methodology
4. North America White Oil Market Landscape
5. North America White Oil Market - Key Market Dynamics
6. White Oil - North America Market Analysis
7. North America White Oil Market Analysis - By Grade
8. North America White Oil Market Analysis - By Application
9. North America White Oil Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Companies Mentioned
- Calumet Specialty Product Partners.
- Chevron Corporation.
- EXXON Mobil Corporation.
- Petro-Canada Lubricants Inc.
- RENKERT OIL.
- APAR.
- Sasol.
- Sonneborn LLC.
- H&R GROUP.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 117 |
| Published | October 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 427.47 Million |
| Forecasted Market Value ( USD | $ 516.09 Million |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | North America |
| No. of Companies Mentioned | 9 |
