White Oil Market
White Oil Market by Application (Adhesives, Pharmaceuticals, Personal Care, Food, Agriculture, Textile, Polymer) and Region (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Global Forecast to 2030
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The white oil market is expected to reach USD 2.77 billion by 2030, from USD 2.19 billion in 2025, with a CAGR of 4.8%. This growth is fueled by the pharmaceuticals, personal care, and cosmetics industries, which drive increasing demand for white oil products. An increase in healthcare spending, along with higher production of ointments, laxatives, vaccine adjuvants, and topical formulations, contributes to greater use of pharmaceutical-grade white oils. The rising demand for high-purity cosmetic-grade products stems from the expansion of skincare, baby care, and men’s grooming markets in emerging countries. The industrial sector utilizes white oil products for plastics and elastomers, adhesives, and food-grade processing, leading to volume growth.
KEY TAKEAWAYS
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BY REGIONAsia Pacific is expected to grow at a CAGR of 5.0% during the forecast period.
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BY GRADEThe pharmaceutical segment accounted for 41.4% of the market in 2024.
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BY APPLICATIONThe polymers segment accounted for 20.3% of the market in 2024.
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Competitive Landscape - Key PlayersChina Petroleum & Chemical Corporation (Sinopec), Sonneborn, LLC., and Calumet, Inc. were identified as some of the star players in the white oil market, given their strong market share and product footprint.
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Competitive Landscape - StartupsRoyal Global Energy, Nandan Petrochem Ltd., and Masterol Foods Pty. Ltd., among others, have distinguished themselves among start-ups and SMEs by securing strong footholds in specialized niche areas, underscoring their potential as emerging market leaders.
The white oil market is experiencing steady growth due to rising demand from various sectors, including pharmaceuticals, personal care, food processing, polymer manufacturing, and industrial users. Hospitals, cosmetics brands, and regulatory bodies such as the US Food and Drug Administration and the European Medicines Agency are driving the need for high-purity, non-toxic white oils. Additionally, the market's expansion is supported by developments in packaging, plastic production, agriculture, and the industrial growth of emerging markets.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
The white oil market is shifting from a volume-driven industrial revenue model to one centered on specialized, high-value products that meet specific customer needs. Once dependent on industrial-grade oils for low-margin applications, the market now focuses on pharmaceutical-grade, cosmetic, food-contact, and advanced polymer oils. This change is motivated by the demands of pharmaceutical formulators, personal care producers, and food processors. The new value chain emphasizes product safety, regulatory compliance, and improved purity, stability, and sensory qualities, moving the focus from cost and volume toward premiumization and innovation.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
Level
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High demand for white oil in various applications
Level
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Availability of substitutes
Level
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Extensive use of specialty-grade white oil in separator manufacturing
Level
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Volatility in raw material prices
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Strict regulations and quality standards
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: High demand for white oil in various applications
The demand for white oil is growing across various industries. The pharmaceuticals industry uses high-purity white oil for laxatives, ointments, and lubricants, driven by increased healthcare spending and an aging population. In personal care and cosmetics, its odorless and colorless nature makes it a preferred ingredient for baby oil and skin care. Food-grade white oil is essential as a release agent and lubricant in food processing, aligning with stricter safety standards. The polymer industry utilizes it as a plasticizer, while agriculture employs it in pesticides and crop protection.
Restraint: Availability of substitutes
Substitute products restrict the white oil market by providing alternatives such as vegetable oils, synthetic esters, and silicone oils, which offer better performance, sustainability, and cost-effectiveness. Consumers increasingly prefer natural oils like jojoba and coconut for personal care, reducing reliance on mineral-derived white oils. Additionally, synthetic lubricants and bio-based fluids compete with traditional white oils by offering similar thermal stability and biodegradability.
Opportunity: Extensive use of specialty-grade white oil in separator manufacturing
The rise of electric vehicles, consumer electronics, and renewable energy storage increases the need for high-performance battery components, where white oil's chemical stability and purity enhance separator performance. This trend highlights a strong adoption in advanced battery systems, driving demand for lithium-ion separators and opening new applications for white oil beyond its traditional uses in pharmaceuticals, personal care, and food processing.
Challenge: Volatility in raw material prices
The white oil market is challenged by unstable raw material prices, primarily influenced by crude oil price fluctuations. Production costs rise unexpectedly due to geopolitical events or supply disruptions, affecting budgets and profit margins, especially for small and medium-sized manufacturers. Price variability leads to decreased demand from cost-sensitive sectors and prompts buyers to seek alternative lubricants.
WHITE OIL MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
|---|---|---|
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Pharmaceutical-grade white oil is used as the primary base ingredient in baby oils and skincare products due to its high purity and skin compatibility. | Non-toxic and hypoallergenic | Excellent moisturizing properties | Stable, odorless, and colorless formulation |
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White oil is incorporated into creams, lotions, lip balms, and hair care products to enhance texture and moisture retention. | Smooth emollient feel | Improved product stability | Safe for sensitive skin applications |
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Medicinal white oil is used in laxatives, ointments, and capsule lubrication in drug manufacturing. | Meets pharmacopeia standards | Chemically inert and safe for ingestion | High purity ensures regulatory compliance |
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Food-grade white oil is used as a release agent in baking, confectionery coatings, and as a lubricant for food-processing machinery. | Complies with food safety regulations | Prevents sticking and improves product finish | Non-reactive and tasteless |
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Technical white oil is used as a plasticizer and processing aid in polystyrene, thermoplastics, and elastomers. | Enhances flexibility and clarity | Improves processing efficiency | Consistent product performance |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The white oil ecosystem functions through an integrated value chain that includes raw material suppliers, white oil producers, and end users. Upstream, companies like Ergon, Inc., SK Innovation, Rosneft, and PBF Energy provide highly refined base oils from crude oil, serving as the foundation for white oil production. In the midstream segment, major manufacturers such as Exxon Mobil, ENEOS, Shell, and Sinopec use advanced refining techniques like hydrotreating and hydrocracking to produce pharmaceutical, food, and technical-grade white oils that meet strict regulatory standards. Downstream, end users like Toray Industries, Teijin, and Safer Brand incorporate white oil into products ranging from polymers and advanced materials to agricultural formulations, along with extensive use in pharmaceuticals, personal care, and food processing.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
White Oil Market, By Grade
The pharmaceutical-grade segment is rapidly growing due to rising demand from the healthcare and personal care industries. Its high-level refining ensures safety and purity, making it ideal for baby care and dermatological products. Increasing healthcare spending and stricter regulatory compliance require manufacturers to use high-purity white oils over standard mineral oils. This trend highlights the importance of pharmaceutical-grade white oil in meeting industry standards and consumer demand for safe, high-quality products.
White Oil Market, By Application
The pharmaceuticals industry is expanding quickly due to increasing reliance on high-purity white oil in healthcare. It is used in topical ointments, laxatives, and as a lubricant in tablet manufacturing because of its non-toxic and hypoallergenic qualities. This growth is fueled by higher healthcare spending, better access to services, and consumer demand for safe medical and personal care products. Pharmaceutical companies prefer highly refined white oils to comply with strict regulations and quality standards, making this segment the fastest-growing in the white oil market.
REGION
Asia Pacific is estimated to account for the largest market during the forecast period
Asia Pacific is the largest market for white oil, fueled by ongoing industrialization, rising manufacturing capacity, and increasing demand across major economies such as China, Japan, South Korea, and India. Growing polymer production and plastic processing, supported by petrochemical investments, are significantly boosting demand for white oil as a processing aid and extender. Similarly, the region’s booming pharmaceuticals industry, backed by healthcare reforms, biotech advances, and localization efforts, is increasing the consumption of pharmaceutical-grade white oils. The fast-growing personal care and cosmetics industry, led by premium skincare trends and increased wellness awareness, is driving demand for cosmetic-grade white oils. A rise in processed food manufacturing, along with strict food safety standards, is supporting extensive use of food-grade white oils.
WHITE OIL MARKET: COMPANY EVALUATION MATRIX
In the white oil market, China Petroleum & Chemical Corporation (Sinopec) (Star) leads with a strong market share and extensive product footprint, driven by its white oil solutions, which are adopted by various end users. Atlantic Performance Oils (Emerging Leader) demonstrates substantial product innovations compared to its competitors. While Sinopec dominates through scale and a diversified portfolio, Atlantic Performance Oil’s base shows significant potential to move toward the leaders’ quadrant as demand for white oil continues to rise.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- China Petroleum & Chemical Corporation (Sinopec) (China)
- Sonneborn LLC (US)
- Calumet, Inc. (US)
- Savita Oil Technologies Limited (India)
- Gandhar Oil Refinery (India) Limited (India)
- Atlantic Performance Oils (Australia)
- Columbia Petro Chem Pvt. Ltd. (India)
- Peak Lubricants (Australia)
- Adinath Chemicals (India)
- ADDINOL (Germany)
- Panama Petrochem Ltd. (India)
- APAR Petroleum Specialities FZE (UAE)
- AxxonOil Srl (Italy)
- Amaris Chemical Solutions (Kenya)
- RENKERT OIL (US)
- Exxon Mobil Corporation (US)
- Shell (UK)
- Petro-Canada Lubricants Inc. (US)
- Sasol Limited (South Africa)
- Seojin Chemical Co., Ltd. (South Korea)
- ENEOS (Japan)
- TotalEnergies (France)
- H&R GROUP (Germany)
- PETRONAS Lubricants International (Malaysia)
- Enilive S.p.A. (Italy)
- OLEOTECNICA S.p.A. (Italy)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size in 2024 (Value) | USD 2.08 BN |
| Market Forecast in 2030 (Value) | USD 2.77 BN |
| Growth Rate | 4.8% |
| Years Considered | 2021–2030 |
| Base Year | 2024 |
| Forecast Period | 2025–2030 |
| Units Considered | Value (USD MN/BN) and Volume (Kiloton) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, South America |
WHAT IS IN IT FOR YOU: WHITE OIL MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
|---|---|---|
| Pharmaceutical & Healthcare Companies | Supply of pharmaceutical-grade white oils meeting USP, BP, and EP standards with ultra-low aromatic content, high purity, and consistent viscosity. Customized formulations for ointments, laxatives, capsule lubrication, and topical applications. | Regulatory compliance and product safety assurance. Enhanced formulation stability and patient safety. High purity suitable for sensitive medical and therapeutic uses. |
| Personal Care & Cosmetics Manufacturers | Provision of highly refined, odorless, colorless white oils tailored for baby oils, skin creams, lotions, hair oils, and lip care products. Controlled viscosity and superior emollient properties for premium formulations. | Improved skin compatibility and moisturizing performance. Enhanced product texture and shelf stability. Safe for sensitive and baby care applications. |
| Food Processing & Packaging Companies | Food-grade white oils compliant with FDA and international food safety standards for use as release agents, coating agents, and food machinery lubricants. Low volatility and non-reactive properties ensured. | Compliance with food safety regulations. Improved processing efficiency and product finish. Reduced contamination risks and extended equipment life. |
| Polymer, Plastic & Elastomer Manufacturers | Technical-grade white oils with controlled aromatic content and tailored viscosity for use as plasticizers, process oils, and extender oils in thermoplastics, elastomers, and rubber processing. | Enhanced flexibility and clarity in finished products. Improved processing efficiency and consistency. Cost-effective large-scale manufacturing support. |
| Energy Storage & Battery Separator Manufacturers | High-purity white oils designed for lithium-ion battery separator manufacturing processes, ensuring chemical stability and controlled porosity. | Improved separator performance and safety. Enhanced battery efficiency and durability. Support for high-growth EV and energy storage markets. |
RECENT DEVELOPMENTS
- July 2025 : Shell acquired a 100% equity stake in Raj Petro Specialities Pvt Ltd from Brenntag SE, strengthening its presence in India, where it has already invested over USD 5 billion across the energy value chain. Raj Petro produces transformer oils, white oils, petroleum jellies, waxes, and lubricants. Brenntag had acquired Raj Petro in 2017–18.
- June 2025 : Exxon Mobil Corporation and Brenntag SE have extended their long-standing distribution agreement for white oils, expanding the partnership beyond Germany, Austria, Switzerland, CEE, and the Baltics, now to include Iberia, the Netherlands, and Israel.
- December 2024 : APAR Industries Limited, the parent company of APAR Petroleum Specialities FZE, is evaluating the establishment of a transformer oil and white oil manufacturing plant at the Lubricant Value Park within LubeHub, Saudi Arabia, as part of its strategy to expand its footprint and support the localization of specialty products in the Kingdom. This initiative follows the signing of a Memorandum of Understanding (MoU) with Saudi Aramco Base Oil Company (Luberef).
- August 2022 : Petro-Canada Lubricants Inc. signed a distribution agreement with Palmer Holland for its PURETOL and KRYSTOL white mineral oil product lines. Under the agreement, Palmer Holland will supply PURETOL white oils, offering a broad range of viscosity grades and certifications for diverse customer requirements, and KRYSTOL technical white mineral oils targeted at applications in plastics, chemical products, and adhesives.
- July 2022 : Calumet, Inc. and Univar B.V., a subsidiary of Univar Solutions Inc., have expanded their distribution agreement across Europe to include a broader range of naphthenic and paraffinic base oils in both packed and bulk formats. Building on an existing partnership for white oils and petrolatum in Europe and North America, the agreement adds premium brands such as CALPAR, HYDROCAL, and CALSOL, enabling Univar Solutions to offer a wider portfolio of specialty base oils for lubricants, greases, metalworking fluids, and adhesives, while strengthening Calumet’s market reach through a technical-focused distribution partner.
Table of Contents
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Table of content
1 Introduction
1.1 Objective of the study
1.2 Market definition
1.3 Market Scope
1.3.1 Years considered for the study
1.4 Currency
1.5 Unit Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.2.1 Key data from secondary sources
2.3 Primary Data
2.3.1 Key data from primary sources
2.3.2 Breakdown of Primary Interviews
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Data Triangulation
2.6 Assumptions
2.7 Limitations
3 Executive Summary
4 Premium Insights
4.1 Opportunities in White Oil Market
4.2 White Oil Market, By Application
4.3 White Oil Market, By Region
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Supply Chain Analysis
5.3.1 Raw Material
5.3.2 Manufacturers
5.3.3 Distribution
5.3.4 End-Use Industry
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Buyers
5.4.4 Bargaining Power of Suppliers
5.4.5 Intensity of Competitive Rivalry
5.5 Average Selling Price
5.6 Regulatory Landscape
5.7 Industry Outlook
6 White Oil Market, By Application
6.1 Introduction
6.2 Adhesives
6.3 Pharmaceutical
6.4 Personal Care
6.5 Food
6.6 Agriculture
6.7 Textile
6.8 Polymers
6.9 Others
7 White Oil Market, By Region
7.1 Introduction
7.2 Asia Pacific
7.2.1 China
7.2.2 India
7.2.3 Japan
7.2.4 South Korea
7.2.5 Rest of Asia Pacific
7.3 North America
7.3.1 U.S.
7.3.2 Canada
7.3.3 Mexico
7.4 Europe
7.4.1 Germany
7.4.2 France
7.4.3 Italy
7.4.4 U.K.
7.4.5 Rest of Europe
7.5 Middle East & Africa
7.5.1 Egypt
7.5.2 Saudi Arabia
7.5.3 South Africa
7.5.4 Rest of Middle East & Africa
7.6 South America
7.6.1 Brazil
7.6.2 Argentina
7.6.3 Rest of South America
8 Competitive Landscape
8.1 Introduction
8.2 Market Share Analysis
8.3 Company Evaluation Quadrant
8.4 Competitive Situation & Trends
8.4.1 New Product Launches
8.4.2 Contracts & Agreements
8.4.3 Partnerships & Collaborations
8.4.4 Joint Ventures
8.4.5 Expansions
9 Company Profile
9.1 British Petroleum
9.1.1 Business Overview
9.1.2 Products Offered
9.1.3 Recent Development
9.1.4 MnM View
9.1.4.1 Key Strengths
9.1.4.2 Strategic choices made
9.1.4.3 Threat from competition
9.2 Renkert Oil, Inc.
9.3 ExxonMobil Corporation
9.4 JX Nippon Oil & Energy Corporation
9.5 Royal Dutch Shell NV
9.6 Petro-Canada
9.7 Sinopec Corporation
9.8 Sasol
9.9 Seojin Chemical Co., Ltd
9.10 Nynas AB
9.11 List of other key players
10 Appendix
10.1 Insights from Industry Experts
10.2 Discussion Guide
10.3 Related Reports
Methodology
The research methodology used to estimate the current size of the white oil market consisted of four major activities. Extensive secondary research was performed to acquire detailed information about the market, peer markets, and parent markets. These findings, assumptions, and metrics were verified through primary research with experts from both the demand and supply sides of the white oil value chain. Both top-down and bottom-up approaches were used to estimate the total market size. The estimation of market sizes for various segments and subsegments in the market was finalized using complete market segmentation and data triangulation techniques.
Secondary Research
The research methodology for estimating and forecasting the white oil market begins with gathering data on key vendors' revenues by doing secondary research. The secondary research process involves consulting a range of secondary sources, including Hoover's, Bloomberg Businessweek, Factiva, the World Bank, and industry-specific journals. These secondary sources encompass annual reports, press releases, investor presentations, white papers, certified publications, articles from recognized authors, regulatory notifications, trade directories, and databases. Also, vendor offerings are taken into consideration to inform market segmentation.
Primary Research
The white oil market comprises several stakeholders, including raw material suppliers, processors, end-product manufacturers, and regulatory organizations, throughout the supply chain. The demand side of this market is characterized by the development of various industries, such as polymer, personal care, textile, pharmaceuticals, adhesives & sealants, food, among others. The supply side is characterized by advancements in technology and a wide range of diverse applications. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is the breakdown of the primary respondents:
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Market Size Estimation
The top-down and bottom-up approaches have been employed to estimate and validate the total size of the white oil market. These approaches have also been used extensively to estimate the size of various dependent market subsegments. The research methodology used to estimate the market size included the following:
- Extensive primary and secondary research was done to identify the key players.
- The value chain and market size of the white oil market, in terms of value, were determined through primary and secondary research.
- All percentage shares, splits, and breakdowns were collected through secondary sources and verified through primary sources.
- All possible parameters that affect the market were covered in this research study and are viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
- The study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from key leaders, such as CEOs, directors, and marketing executives, is included in this research.
White Oil Market : Top-Down and Bottom-Up Approach
Data Triangulation
After estimating the overall market size using the above estimation, the market was split into various segments and subsegments. Data triangulation and market segmentation techniques, along with the market engineering process, were employed to obtain precise market analysis data for each segment and its subsegments.
Market Definition
White oil is a highly refined, colorless, odorless, and chemically inert mineral oil manufactured through severe hydroprocessing (hydrogenation/hydrofinishing) of paraffinic base oil or wax feedstocks. It is characterized by very low aromatic content, high purity, and excellent stability, enabling its use in regulated and sensitive applications.
Key Stakeholders
- White oil manufacturers, processors, and refining technology providers
- Research institutions, standards organizations, and regulatory agencies such as ASTM, BIS, EDQM, and other national authorities
- NGOs, governments, investment banks, venture capitalists, and private equity firms
Report Objectives
- To define, describe, and forecast the size of the white oil market in terms of value and volume
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the market
- To forecast the size of market segments (grade and application) based on the following regions: North America, Europe, Asia Pacific, the Middle East & Africa, and South America, along with their key countries
- To analyze recent developments and competitive strategies, including acquisitions, agreements, and expansions, to understand the market's competitive landscape
- To strategically profile key market players and comprehensively analyze their core competencies
Available customizations:
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? Additional country-level analysis of the white oil market
? Profiling of additional market players (up to five)
Product Analysis
- Product matrix, which provides a detailed comparison of each company's product portfolio.
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Growth opportunities and latent adjacency in White Oil Market