Asia Pacific White Oil Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Grade (Food, Pharmaceutical, and Technical) and Application (Personal Care and Cosmetics, Pharmaceutical and Healthcare, Food Industries, Plastic Processing, Agriculture, and Others)
The white oil market in Asia Pacific is expected to grow from US$ 1075.43 million in 2022 to US$ 1361.31 million by 2028. It is estimated to grow at a CAGR of 4.0% from 2022 to 2028.
Elevating Demand as Adhesive in Food Packaging
The growing consumer inclination toward packaged products due to a shift in eating habits and the transformation of lifestyles may have an imperative impact on the demand for white oil. The oil is used in the production of adhesives for food packaging. Technical white oil mineral is permitted as an indirect food additive in a wide variety of food contact materials, including adhesives. It is also used as a defoaming agent component in paper and paperboard packaging. White oil is used in hot melt adhesives, wherein it acts as a diluent for ensuring material transparency when it is used in cosmetics or food packaging. The growing trend such as in food service cups, packaging, and utensils are all produced with white oil. It is used to soften rubber and polymer products. The packaging industry uses white oils typically in the products of polymers, thermoplastic elastomers, polyolefins and polystyrene, these packaging keep foods crisp. Furthermore, increasing focus on clean rooms and hygienic consumable goods packaging is one of the main factors that are likely to encourage the use of white oil adhesives in the food packaging industry.
Market Overview
Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific are the key contributors to the white oil market in the Asia Pacific. China, India, and other southeast Asian countries are the key markets in the region. Due to heavy investments from various manufacturers and the rise in government initiatives to support the production of different grades of white oil, the production capacity of the region is expected to increase in the coming years. For instance, Weifang Hongrun Petrochemical Technology Co. has recently awarded a contract to Chevron Lummus Global for the licensing and design of a 500,000-metric ton per year white oil hydro processing unit and a 200,000 t/y food-grade white oil unit in Shandong, China. The most common use of white oils in India is hair oil, a component of cosmetics and personal care products. Three-fourths of the nation's usage of white oil is accounted for by the pharmaceutical and cosmetics industries combined. Additionally, manufacturers are investing in cosmetics production in Japan due to the rising demand for cosmetics created in Japan from consumers in Asia Pacific. Shiseido, one of the major cosmetics manufacturers in the nation, has revealed plans to invest between US$ 387.37 billion and US$ 484.22 billion in a new factory that is expected to be built on the southern main island of Kyushu and set to open around 2021. To increase its national production capacity, the corporation also constructed two additional plants in Tochigi Prefecture in 2019 and Osaka Prefecture in 2021. Such Strategic developments by manufacturers increase the demand for white oil and are further expected to drive the Asia Pacific white oil market.
Asia Pacific White oil market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific White oil market Segmentation
The Asia Pacific 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 Australia, China, India, Japan, South Korea, and rest of APAC. China dominated the market share in 2022.
Calumet Specialty Product Partners, Chevron Corporation; EXXON Mobil Corporation; Petro-Canada Lubricants Inc; ATLANTIC OIL; APAR; Sasol; Sonneborn LLC; and H AND R GROUP are the leading companies operating in the white oil market in the Asia Pacific.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
1.2.1 APAC White Oil Market, by Grade
1.2.2 APAC White Oil Market, by Application
1.2.3 APAC White Oil Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.1.1 White Oil Market, by Grade, and Application
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. APAC White Oil Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Bargaining Power of Suppliers:
4.2.3 Bargaining Power of Buyers:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.3.1 Overview:
4.3.2 Raw Material Suppliers:
4.3.3 Manufacturers
4.3.4 Distributors
4.3.5 End-User
4.4 Expert Opinion
5. APAC White Oil Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growth of Cosmetics and Personal Care Industry
5.1.2 Expansion of Pharmaceuticals Industry
5.2 Market Restraints
5.2.1 Fluctuating Prices of Crude Oil
5.3 Market Opportunities
5.3.1 Elevating Demand as Adhesive in Food Packaging
5.4 Future Trends
5.4.1 Extensive Industrialization in Emerging Economies
5.5 Impact Analysis of Drivers and Restraints
6. White Oil – APAC Market Analysis
6.1 White Oil Market –Revenue and Forecast to 2028 (US$ Mn)
6.2 White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
7. APAC White Oil Market Analysis – By Grade
7.1 Overview
7.2 White Oil Market, By Grade (2021 and 2028)
7.3 Food
7.3.1 Overview
7.3.2 Food: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
7.3.3 Food: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
7.4 Pharmaceutical
7.4.1 Overview
7.4.2 Pharmaceutical: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
7.4.3 Pharmaceutical: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
7.5 Technical
7.5.1 Overview
7.5.2 Technical: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
7.5.3 Technical: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
8. APAC White Oil Market Analysis – By Application
8.1 Overview
8.2 White Oil Market, By Application (2021 and 2028)
8.3 Personal Care & Cosmetics
8.3.1 Overview
8.3.2 Personal Care & Cosmetics: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
8.4 Pharmaceutical & Health Care
8.4.1 Overview
8.4.2 Pharmaceutical & Health Care: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
8.5 Food Industries
8.5.1 Overview
8.5.2 Food Industries: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
8.6 Plastic Processing
8.6.1 Overview
8.6.2 Plastic Processing: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
8.7 Agriculture
8.7.1 Overview
8.7.2 Agriculture: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
8.8 Others
8.8.1 Overview
8.8.2 Others: White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
9. APAC White Oil Market – Country Analysis
9.1 Asia-Pacific: White Oil Market
9.1.1 Asia-Pacific: White Oil Market, by Key Country
9.1.2 Asia-Pacific: White Oil Market, by Key Country
9.1.2.1 Australia: White Oil Market –Analysis and Forecast to 2028 (US$ Million)
9.1.2.1.1 Australia: White Oil Market, by Grade
9.1.2.1.2 Australia: White Oil Market, by Application
9.1.2.2 China: White Oil Market –Analysis and Forecast to 2028 (US$ Million)
9.1.2.2.1 China: White Oil Market, by Grade
9.1.2.2.2 China: White Oil Market, by Application
9.1.2.3 India: White Oil Market –Analysis and Forecast to 2028 (US$ Million)
9.1.2.3.1 India: White Oil Market, by Grade
9.1.2.3.2 India: White Oil Market, by Application
9.1.2.4 Japan: White Oil Market –Analysis and Forecast to 2028 (US$ Million)
9.1.2.4.1 Japan: White Oil Market, by Grade
9.1.2.4.2 Japan: White Oil Market, by Application
9.1.2.5 South Korea: White Oil Market –Analysis and Forecast to 2028 (US$ Million)
9.1.2.5.1 South Korea: White Oil Market, by Grade
9.1.2.5.2 South Korea: White Oil Market, by Application
9.1.2.6 Rest of Asia-Pacific: White Oil Market –Analysis and Forecast to 2028 (US$ Million)
9.1.2.6.1 Rest of Asia-Pacific: White Oil Market, by Grade
9.1.2.6.2 Rest of Asia-Pacific: White Oil Market, by Application
10. Industry Landscape
10.1 Overview
10.2 Expansion & Collaboration
11. Company Profiles
11.1 Calumet Specialty Products Partners, L.P.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Chevron Corporation
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 EXXON MOBIL CORPORATION
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Petro-Canada Lubricants Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 ATLANTIC OIL
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 APAR
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Sasol
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Sonneborn LLC
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 H AND R GROUP
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
LIST OF TABLES
Table 1. APAC White Oil Market –Revenue and Forecast to 2028 (US$ Mn)
Table 2. APAC White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
Table 3. Australia White Oil Market, by Grade – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia White Oil Market, by Grade – Volume and Forecast to 2028 (Kilo Tons)
Table 5. Australia White Oil Market, by Application– Revenue and Forecast to 2028 (US$ Million)
Table 6. China White Oil Market, by Grade– Revenue and Forecast to 2028 (US$ Million)
Table 7. China White Oil Market, by Grade – Volume and Forecast to 2028 (Kilo Tons)
Table 8. China White Oil Market, by Application– Revenue and Forecast to 2028 (US$ Million)
Table 9. India White Oil Market, by Grade – Revenue and Forecast to 2028 (US$ Million)
Table 10. India White Oil Market, by Grade – Volume and Forecast to 2028 (Kilo Tons)
Table 11. India White Oil Market, by Application– Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan White Oil Market, by Grade – Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan White Oil Market, by Grade – Volume and Forecast to 2028 (Kilo Tons)
Table 14. Japan White Oil Market, by Application– Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea White Oil Market, by Grade – Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea White Oil Market, by Grade – Volume and Forecast to 2028 (Kilo Tons)
Table 17. South Korea White Oil Market, by Application– Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Asia-Pacific White Oil Market, by Grade – Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Asia-Pacific White Oil Market, by Grade – Volume and Forecast to 2028 (Kilo Tons)
Table 20. Rest of Asia-Pacific White Oil Market, by Application– Revenue and Forecast to 2028 (US$ Million)
Table 21. Glossary of Terms, Global White Oil Market
LIST OF FIGURES
Figure 1. APAC White Oil Market Segmentation
Figure 2. APAC White Oil Market Segmentation – By Country
Figure 3. APAC White Oil Market Overview
Figure 4. APAC White Oil Market, By Application
Figure 5. APAC White Oil Market, By Country
Figure 6. APAC Porter’s Five Forces Analysis of White Oil Market
Figure 7. APAC White Oil Market, Ecosystem
Figure 8. Expert Opinion
Figure 9. APAC White Oil Market Impact Analysis of Drivers and Restraints
Figure 10. APAC White Oil Market – Revenue and Forecast to 2028 (US$ Mn)
Figure 11. APAC White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 12. APAC White Oil Market Revenue Share, By Grade (2021 and 2028)
Figure 13. APAC Food: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 14. APAC Food: White Oil Market –Volume and Forecast To 2028 (Kilo Tons)
Figure 15. APAC Pharmaceutical: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 16. APAC Pharmaceutical: White Oil Market –Volume and Forecast To 2028 (Kilo Tons)
Figure 17. APAC Technical: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 18. APAC Technical: White Oil Market –Volume and Forecast To 2028 (Kilo Tons)
Figure 19. APAC White Oil Market Revenue Share, By Application (2021 and 2028)
Figure 20. APAC Personal Care & Cosmetics: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 21. APAC Pharmaceutical & Health Care: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 22. APAC Food Industries: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 23. APAC Plastic Processing: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 24. APAC Agriculture: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 25. APAC Others: White Oil Market – Revenue and Forecast To 2028 (US$ Mn)
Figure 26. Asia-Pacific: White Oil Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. Asia-Pacific: White Oil Market Revenue Share, by Key Country (2021 and 2028)
Figure 28. Australia: White Oil Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. Australia: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 30. China: White Oil Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. China: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 32. India: White Oil Market –Revenue and Forecast to 2028 (US$ Million)
Figure 33. India: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 34. Japan: White Oil Market –Revenue and Forecast to 2028 (US$ Million)
Figure 35. Japan: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 36. South Korea: White Oil Market –Revenue and Forecast to 2028 (US$ Million)
Figure 37. South Korea: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
Figure 38. Rest of Asia-Pacific: White Oil Market –Revenue and Forecast to 2028 (US$ Million)
Figure 39. Rest of Asia-Pacific: White Oil Market –Volume and Forecast to 2028 (Kilo Tons)
- Calumet Specialty Product Partners.
- Chevron Corporation.
- EXXON Mobil Corporation.
- Petro-Canada Lubricants Inc.
- ATLANTIC OIL.
- APAR.
- Sasol.
- Sonneborn LLC.
- H&R GROUP.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific white oil market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific white oil market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the white oil market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution