White oil refers to highly-refined mineral and synthetic oils that remain colorless and do not oxidize or become rancid easily. They are commonly used as lubricants, solvents for skin care applications, release agents, plasticizers and softeners. White oil finds applications in personal care and cosmetic products, pharmaceuticals, agriculture, food handling, rubber processing, textiles, polishes and fabric protection among others.

The global white oil market is estimated to be valued at US$ 2.08 Bn in 2024 and is expected to exhibit a CAGR of 4.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Wide range of applications in various end use industries is expected to drive growth of the global white oil market over the forecast period. White oils are commonly used as emollients and lubricants in personal care products such as lotions, creams, lipsticks and hair care products due to their non-greasy and non-staining properties. They are also employed as release agents and softeners for plastics, rubbers and other polymers. Growth of end use industries such as personal care, cosmetics, plastics, food processing and others is expected to augment the demand for white oils. Furthermore, easy availability and favourable properties of white oils such as chemical inertness and resistance to oxidation makes them suitable lubricants and release agents, thereby spurring market growth.

SWOT Analysis
Strength: White oil has wide applications across many industries such as personal care, pharmaceuticals, food & beverages and others. It protects the skin by controlling moisture and preventing water loss. It is easily absorbed into the skin without leaving an oily or greasy residue. White oil is regarded as a multi-purpose emollient and skin protectant.
Weakness: White oil is not suitable for use on wounded or broken skin as it can clog pores and prevent healing. Some white oils may also cause allergic reactions in people with very sensitive skin. Lower grade white oils have poor stability when exposed to light and air oxidation.
Opportunity: Growth of skin care and hair care industries along with rising awareness about personal grooming among consumers globally is fueling demand for white oil. New product launches incorporating white oil for baby care and therapies are expanding opportunities.
Threats: Stringent quality standards and regulations related to cosmetic ingredients could increase production costs. Availability of alternative emollients and lubricants may threaten white oil market share over the long term.

Key Takeaways
The global white oil market size is expected to witness high growth over the forecast period of 2024 to 2031. The market size for white oil in 2024 is estimated at US$ 2.08 million and is forecast to grow at a CAGR of 4.2% through 2031.

Regional analysis:
The Asia Pacific region currently dominates the global white oil market and is expected to maintain its leading position throughout the forecast period. Factors fueling white oil demand in Asia Pacific include rapid GDP growth, rising incomes, growing population and expansion of personal care industries across countries like India and China. North America and Europe are other major consumers of white oil owing to well-established cosmetics industries and high per capita spending on skin and hair care products.

Key players:
Key players operating in the white oil market are Procter & Gamble (P&G) Chemicals, CREMER, Wilmar, VVF Ltd., KLK OLEO, Inoue Perfumery MFG, Wuhan Yuancheng Gongchuang, Changsha Jianglong Chemicals, and Godrej Industries. Procter & Gamble Chemicals and Wilmar account for substantial market share due to their global leadership in white oil production and supply chain infrastructure. The white oil market is rather consolidated with top five players accounting for over 65% of the total market value.