- Plastic and Polymer
- Food Industry
- Personal Care and Cosmetics
White Mineral Oil Market size was valued at USD 2,343.6 million in 2022, growing at a CAGR of 3.7% from 2023 to 2029. Rising demand for cosmetic products such as lotions, hair oils, creams, ointments, petroleum jelly, laxatives, and pharmaceutical products is a major factor expected to drive market revenue growth. Use of white mineral oil as a blending base in these products is increasing use of these oils in various end-use industries. These highly refined mineral oils are stable, pure, colourless, non-toxic, chemically inert, and odourless, which makes these ideal for use in manufacturing cosmetics, pharmaceuticals, and chemical processing. Cosmetic and medicinal applications of white mineral oil include manufacturing ointments, hair care products, complexion creams, baby oils, laxatives, and for preparing curative drugs. Hair care industry has developed over the years with more organic, eco-friendly, and natural products according to the changing consumer preferences in the market. According to research a study 52% of the total consumers prefer to buy organic or natural shampoo which is expected to increase adoption of white oil as an ingredient in hair care products. Rising demand for various personal care products along with pharmaceuticals is expected to drive market revenue growth. Rising demand for grooming products and changing consumer preferences for organic and natural products are expected to drive growth of the global personal care products market, which is expected to result in significant supply of white mineral oil. Moisture resistant property of this oil encourages cosmetic manufacturers to use this oil in personal care products. Thus, white oil is used as a moisturizer for treating rough, dry, scaly itchy, and other minor skin irritation. White oil is helpful for softening polymer and rubber-based products. Also, it is used to manufacture emollients, for penicillin production process, and in eye lubricants, which are expected to boost demand for white oil in this industry. Growing car manufacturing industry and automation are accelerating demand for tiers, which is further supporting demand for white oil in tier manufacturing industry. Wide range of applications of white mineral oil in plastic, rubber, and food packaging industries is expected to drive market revenue growth.
White Mineral Oil Market Key Developments:
September 2022, Sitio Royalties Corp, and Brigham Minerals, Inc. announced the merger worth around $4.8 billion. The merger will create the largest publicly traded mineral, royalty company in the USA
Fastest Growing Market
Rising demand for white mineral oil in leading economies globally is the key growth driver of Global white mineral oil market. Also, increasing demand for pharmaceutical industry is expected to create revenue-generating opportunities for prominent players in global market in the forecasted years. In addition to this, increasing use of mineral oil as plasticizer in rubber production process is anticipated to fuel the growth of global white mineral oil market in forecasted years. Also, increasing demand from cosmetic and pharmaceutical industry is project to trigger the growth of global market. Other factors such as rapid urbanization, especially in developing economies and rising disposal income can contribute to market growth.
The white mineral oil market size is expected to be valued at USD 2,343.6 million in 2022.
The white mineral oil market is poised to grow at a significant CAGR of 3.7% from 2023 to 2029.
Mineral oil is a highly purified, lightweight ingredient used in baby lotions, cold creams, ointments and many other cosmetic and personal care products, due to its ability to help reduce water loss from skin and keep it moisturized. Mineral oil can be applied to your hair. This may help in reducing the tangles and also prevents your hair from breaking. It acts as a lubricant.