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
Brazil, Argentina, and rest of SAM are the key contributors to the white oil market in the South & Central America. This region's food processing and agriculture sectors are the key contributors to its economic development. Both sectors require white oil as a raw material due to its various applications. Additionality a variety of finished products, including polystyrene, animal vaccinations, pharmaceuticals, and adhesives, require white oil. These are quite appealing because they are highly purified and cost-effective, which opens up great opportunities for revenue generation in the regional market. Moreover, White oil is widely utilized in personal care products, including cosmetics, skincare, and hair care products, which is expected to propel market expansion in the region. Furthermore, it is projected that technical advancement, particularly in the areas of refining and ultra-purification, will provide the white oil industry with improved growth possibilities in the forecast period. Due to changing lifestyles and personal care preferences, the demand for cosmetics has recorded robust growth in various South American countries, such as Brazil and Argentina. White oils are an important part of many cosmetic formulations. They are commonly used in almost all types of cosmetic and personal care products, from emulsions to anhydrous cosmetics, such as lip balm, baby oil, skincare, haircare, creams, lotions, and emollients. With the increasing demand for such cosmetics and personal care products, a huge demand for white oil has been created. White oil can be used to ease diaper rash and eczema irritation. The cosmetic industry also makes good use of liquid paraffin. The substance is used in various beauty products, including detergent, cold, hydrated, bronzed, and makeup products. Thus, these factors are expected to drive the SAM white oil market in the region.
South & Central America White oil market Segmentation
The South & Central 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 the largest market share in 2022.
Based on country, the market is segmented into Brazil, Argentina, and rest of SAM. Brazil dominated the market share in 2022.
Calumet Specialty Product Partners, L.P.; Chevron Corporation; EXXON Mobil Corporation; Petro-Canada Lubricants Inc; APAR; Sasol; Sonneborn LLC; and H&R GROUP are the leading companies operating in the white oil market in the South & Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 61.02 Million |
| Market Size by 2028 | US$ 70.33 Million |
| CAGR (2022 - 2028) | 2.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Grade
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South & Central America White Oil Market is valued at US$ 61.02 Million in 2022, it is projected to reach US$ 70.33 Million by 2028.
As per our report South & Central America White Oil Market, the market size is valued at US$ 61.02 Million in 2022, projecting it to reach US$ 70.33 Million by 2028. This translates to a CAGR of approximately 2.4% during the forecast period.
The South & Central America White Oil Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America White Oil Market report:
The South & Central America White Oil Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America White Oil Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America White Oil Market value chain can benefit from the information contained in a comprehensive market report.
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