Key information about India Oil Consumption

• India Oil Consumption was reported at 5,446.103 Barrel/Day th in Dec 2023
• This records an increase from the previous number of 5,208.699 Barrel/Day th for Dec 2022
• India Oil Consumption data is updated yearly, averaging 1,416.726 Barrel/Day th from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 5,446.103 Barrel/Day th in 2023 and a record low of 252.234 Barrel/Day th in 1965
• India Oil Consumption data remains active status in CEIC and is reported by BP PLC
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.BP.OIL: Oil: Consumption

OECD Americas is the region with the greatest oil demand, followed by China. In 2023, daily oil demand in the OECD Americas amounted to 25 million barrels. This figure is set to decrease to 21.5 million barrels by 2050, although it would remain the largest oil consuming region. India is forecast to see the greatest growth in daily oil demand, with figures expected to double by 2050.

The Indian Oil and Gas Industry offers a diverse range of products, including crude oil, refined petroleum products, natural gas, and petrochemicals. Crude oil is primarily used in refineries to produce gasoline, diesel, and other fuel products. Refined petroleum products are widely consumed in transportation, industrial, and residential sectors. Natural gas is gaining popularity as a cleaner fuel alternative and is used for power generation and industrial processes. Petrochemicals are used to manufacture plastics, fertilizers, and other essential products. Recent developments include: In March 2023, Indian Oil Corporation Ltd. announced that the company would invest USD 742 million in building a petrochemical complex at Paradip in the state of Odisha., In January 2022, Adani Total Gas Ltd (ATGL), a joint venture between the Adani Group and TotalEnergies, won licenses to expand its City Gas Distribution (CGD) network to 14 new geographical areas with an investment of USD 243 million.. Key drivers for this market are: 4., Increasing Investment in the Upstream Sector4.; Supportive Government Policies. Potential restraints include: 4., Increasing Demand to Diversify the Power Generation Mix by Introducing Renewable Energy Sources. Notable trends are: The Downstream Sector is Expected to Witness Significant Growth.

By 2029, global oil demand is forecast to reach 112.3 million barrels per day. China is expected to account for 18.4 million barrels of daily oil demand while India is expected to account for 6.9 million barrels worth.

India's petroleum products consumption growth rate was estimated to reach **** percent in fiscal year 2024, reflecting a moderate increase from the previous year. This growth comes after a significant rebound of **** percent in fiscal year 2023, following the pandemic-induced decline. The fluctuating consumption patterns highlight the dynamic nature of India's energy sector and its ongoing efforts to balance economic growth with energy demand. Production and refining capacity expansion The production volume of petroleum products in India was estimated to reach over *** million metric tons by the end of fiscal year 2024, up from ***** million metric tons in the previous year. This increase aligns with the country's ambitious refinery expansion plans by fiscal year 2028, demonstrating India's commitment to strengthening its position in the global refining industry.
Consumption trends and refining capacity While consumption growth rates have varied in recent years, India's refining capacity continues to exceed domestic demand. Among the leading refineries in the country, Reliance Petroleum Limited's Jamnagar facility alone boasts a refining capacity of nearly **** million metric tons as of April 2024. This overcapacity positions India as a major player in the refining sector and allows for potential export opportunities. The estimated growth rate for petroleum products at *** percent in fiscal year 2024 suggested a stabilizing trend in consumption patterns, following the volatile period during and immediately after the pandemic.

The India white oil market, encompassing various applications like pharmaceuticals, cosmetics, and food processing, exhibits robust growth potential. Analysis of the period 2019-2024 reveals a steady expansion, driven by increasing demand from the pharmaceutical and personal care sectors. While precise market size figures for 2019-2024 are unavailable, a conservative estimate suggests a market value exceeding ₹10 billion (approximately $120 million USD) in 2024, considering the substantial growth in related industries. The projected Compound Annual Growth Rate (CAGR) from 2025-2033, although not specified, is likely to remain positive, influenced by factors such as rising disposable incomes, a growing population, and increasing awareness of health and beauty products. This growth is expected to be particularly pronounced in the pharmaceutical segment due to increased demand for topical ointments and creams. The cosmetic sector also presents a significant opportunity, with the rising popularity of natural and organic products, many of which utilize white oil as a key ingredient. The market will likely witness further consolidation, with larger players aiming to capture a larger market share through strategic acquisitions and expansion initiatives. The forecast period (2025-2033) anticipates continued market expansion, with significant growth potential in both urban and rural areas. Increased government initiatives promoting domestic manufacturing and the adoption of stricter quality standards might impact the market structure. Furthermore, the increasing adoption of sustainable and ethically sourced ingredients by manufacturers will play a crucial role in shaping the future of the India white oil market. This factor, coupled with fluctuating global crude oil prices, presents both opportunities and challenges for market participants. Innovative product development and strategic partnerships will be key to navigating these complexities and capitalizing on the market's long-term growth prospects. Competitive pricing and efficient supply chains will be critical success factors for market leaders. Recent developments include: The recent developments that occurred in this market will be covered in the final report.. Key drivers for this market are: Growing Cosmetics and Personal Care Industry, Growing Pharmaceutical Industry. Potential restraints include: Growing Cosmetics and Personal Care Industry, Growing Pharmaceutical Industry. Notable trends are: Pharmaceutical Industry Will Experience Significant Growth.

India Energy Balance: Secondary: Total Oil Products: Fuel oil: Demand data was reported at 3,706.361 Barrel th in Dec 2024. This records an increase from the previous number of 3,433.739 Barrel th for Nov 2024. India Energy Balance: Secondary: Total Oil Products: Fuel oil: Demand data is updated monthly, averaging 3,943.282 Barrel th from Jan 2002 (Median) to Dec 2024, with 276 observations. The data reached an all-time high of 8,340.935 Barrel th in Jan 2005 and a record low of 1,901.863 Barrel th in Apr 2020. India Energy Balance: Secondary: Total Oil Products: Fuel oil: Demand data remains active status in CEIC and is reported by Joint Organisations Data Initiative. The data is categorized under Global Database’s India – Table IN.JODI.WDB: Energy Balance: Oil. Heavy residual oil/boiler oil, including bunker oil; Demand of Finished Products only. Demand of finished products: Deliveries or sales to the inland market (domestic consumption) plus Refinery Fuel plus International Marine and Aviation Bunkers. Demand for Other oil products includes direct use of Crude oil, NGL, and Other.

The consumption volume of petroleum products in India was approximately 234 million metric tons in fiscal year 2024. The country was ranked third with regard to primary energy consumption across the globe. With the industry growing rapidly, inland production of petroleum products does not suffice. The import volume of petroleum products reached figures close to 49 million metric tons during the fiscal year of 2024. Road ahead With the backing of robust economic growth and a booming automotive industry, the demand for petroleum products was anticipated to grow, as suggested by an annual growth rate of more than five percent observed in the fiscal year 2024. With its rich resources and bold ambitions, the country is poised to become a global leader in clean energy, paving the way for transformative change worldwide and inspiring others to follow suit. Switching gears Rapid globalization and fast changing technology combined could salvage what is left of the depleating oil reserves. In a bright sunny country with ample sunlight hours, investments in solar energy and replacement of conventional vehicles with electric vehicles might hold the key to a sustainable future.

India coconut oil market size is projected to exhibit a growth rate (CAGR) of 7.32% during ​2025-2033​. The growing trend toward organic and virgin coconut oil, driven by consumers seeking minimally processed and higher quality products, is fueling the market.

The size of the India Palm Oil Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.0 % during the forecast period. India is one of the largest importers of palm oil in the world, primarily sourced from countries like Indonesia and Malaysia. Palm oil is a highly versatile vegetable oil derived from the fruit of the oil palm tree and is used in a wide range of products, including cooking oil, processed foods, cosmetics, and biofuels. Palm oil is one of the most used ingredients in the food industry in India because it is inexpensive and has a long shelf life. The demand for palm oil in India has been growing rapidly, driven by population growth, urbanization, and increasing consumer preferences for processed foods. However, the large-scale import of palm oil has raised concerns about its environmental impact, particularly related to deforestation and habitat loss in palm oil-producing countries. Addressing these issues has been an on-going call for more sustainable and traceable sources of palm oil, and in this regard, India has also increasingly supported RSPO certification. Recent developments include: In May 2023, Godrej Agrovet's Oil Palm Business launched a finance offering for oil palm farmers in partnership with the State Bank of India (SBI). The product will enable farmers to obtain loans for micro irrigation facilities, fencing, and tube well improvements at their farms. , In April 2023, Baba Ramdev’s Patanjali Foods Ltd ( Ruchi Soya) pumped an investment of over USD 122 million for setting up integrated palm oil processing facilities in Telangana over the next four years. , In July 2022, The Malaysian Palm Oil Council and the Indian Vegetable Oil Producers' Association signed a memorandum of understanding (MoU) to promote palm oil usage. The MoU aims to increase collaboration in shared interests and advance Malaysian palm oil production and consumption, promoting the interests of producers, processors, users, and consumers. .

India: Diesel and heating oil consumption, thousand barrels per day: The latest value from 2023 is 1829.17 thousand barrels per day, an increase from 1700.21 thousand barrels per day in 2022. In comparison, the world average is 145.86 thousand barrels per day, based on data from 190 countries. Historically, the average for India from 1980 to 2023 is 909.91 thousand barrels per day. The minimum value, 238.32 thousand barrels per day, was reached in 1980 while the maximum of 1829.17 thousand barrels per day was recorded in 2023.

Crude Oil Market Outlook

As of 2023, the global crude oil market size was valued at approximately USD 1.3 trillion, and it is expected to reach USD 1.7 trillion by 2032, growing at a compound annual growth rate (CAGR) of 3.0% during the forecast period. The growth of this market is fueled by increasing demand in various industrial applications, coupled with advancements in extraction technologies that have made previously unrecoverable reserves accessible. Furthermore, the ongoing industrialization in emerging economies and the rising global energy demand are significant factors contributing to the market expansion. These factors are expected to consistently drive the crude oil market over the coming decade, despite growing environmental concerns and the push for renewable energy sources.

The primary growth factor for the crude oil market is the expanding global transportation sector, which remains heavily reliant on fossil fuels. As both personal and commercial transportation increases, so does the demand for crude oil, as it is the primary raw material for the production of fuels like gasoline, diesel, and aviation fuel. This is particularly evident in regions with burgeoning automotive markets and aviation sectors, where there is a continuous need to meet the energy requirements. Moreover, the development of infrastructure in developing countries is further bolstering the consumption of crude oil, especially in sectors such as road and air transport, which are pivotal to economic progress.

Another significant factor contributing to the growth of the crude oil market is its broad application base across various industrial sectors. Crude oil is not only a vital energy source but also a critical input for numerous petrochemical products, which are integral to industries such as plastics, pharmaceuticals, and chemicals. The industrial demand for crude oil is expected to remain robust as these sectors continue to expand, driven by technological innovations and a growing global population. Additionally, the power generation sector still relies on crude oil, albeit to a lesser extent, maintaining a steady demand alongside the increasing share of renewable energy sources.

Technological advancements in extraction techniques like hydraulic fracturing and horizontal drilling have unlocked new reserves, contributing significantly to supply-side growth. These technologies have made it economically viable to extract oil from unconventional sources such as shale formations and deep-sea reserves. This has not only increased the global supply of crude oil but also enhanced the competitiveness of oil-producing countries, particularly the United States, which has emerged as a major player in the global market. As technology continues to evolve, it is expected to further streamline production processes, reduce costs, and open up new areas for exploration.

Regionally, the Asia Pacific region is projected to witness the highest growth in the crude oil market, driven by rapid industrialization and urbanization in countries like China and India. The region's demand for energy is skyrocketing, fueled by economic development and an increasing population. North America remains significant due to advancements in extraction technologies and substantial shale reserves. Meanwhile, the Middle East and Africa continue to hold strategic importance due to their vast conventional oil reserves. Europe and Latin America, while also important markets, are expected to grow at a more moderate pace as they balance energy needs with sustainability initiatives.

Type Analysis

The crude oil market is segmented by type into light, medium, and heavy crude oil. Light crude oil is highly sought after due to its high yield of valuable products such as gasoline and diesel upon refining. It is generally preferred by refineries because of its lower sulfur content and ease of processing, resulting in lower overall production costs. The demand for light crude oil is expected to remain strong as refineries continue to upgrade and optimize their processes to produce cleaner fuels. Moreover, the development of new refining technologies may further enhance the processing efficiency of light crude, sustaining its demand in the market.

Medium crude oil, characterized by its balanced sulfur content and density, serves as a versatile feedstock for refineries across the globe. Although not as easily processed as light crude, medium crude oil provides a good yield of both light and heavy petroleum products. Its market demand is also driven by the flexibility it offers refineries in terms of product output. In regions wit

Petroleum Pdt Consumption: Others: States data was reported at 15,880.000 Ton th in 2018. This records an increase from the previous number of 13,759.000 Ton th for 2017. Petroleum Pdt Consumption: Others: States data is updated yearly, averaging 6,864.000 Ton th from Mar 2000 (Median) to 2018, with 19 observations. The data reached an all-time high of 15,880.000 Ton th in 2018 and a record low of 1,768.000 Ton th in 2004. Petroleum Pdt Consumption: Others: States data remains active status in CEIC and is reported by Ministry of Petroleum and Natural Gas. The data is categorized under Global Database’s India – Table IN.RBH001: Petroleum: Consumption.

The India mustard oil market size reached USD 1.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 1.7 Billion by 2033, exhibiting a growth rate (CAGR) of 4.2% during 2025-2033.

IMARC Group provides an analysis of the key trends in each sub-segment of the India mustard oil market report, along with forecasts at the country and regional level from 2025-2033. Our report has categorized the market based on packaging type, packaging material, pack size, application and distribution channel.

Blown Oil Base Oil Market Outlook

The global Blown Oil Base Oil market size was valued at approximately USD 2.5 billion in 2023, and it is projected to reach around USD 4.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period. One of the key factors driving this growth is the increasing demand for high-performance lubricants and industrial oils across various sectors such as automotive, industrial, and energy.

The growth of the automotive industry, with its continuous demand for efficient and advanced lubricants, significantly contributes to the expansion of the Blown Oil Base Oil market. The rising number of vehicles globally, particularly in emerging economies, leads to increased consumption of automotive lubricants, which in turn drives the demand for blown oil base oils. Additionally, the automotive industry's shift towards electric vehicles (EVs) also necessitates specialized lubricants, further fueling market growth.

Another major growth factor is the industrial sector's increasing focus on enhancing operational efficiency and reducing machinery downtime. Blown oil base oils are extensively used in industrial applications due to their superior thermal stability, oxidation resistance, and high viscosity index. These properties make them ideal for use in high-temperature and high-load environments, ensuring the smooth and efficient operation of industrial machinery. Furthermore, the ongoing industrialization in developing regions is expected to boost the demand for blown oil base oils in the coming years.

The marine and aviation sectors also contribute significantly to the growth of the blown oil base oil market. The need for high-performance lubricants that can withstand extreme conditions and provide reliable performance in marine vessels and aircraft is driving the demand for blown oil base oils. Moreover, the increasing globalization and trade activities, leading to higher marine and aviation traffic, are expected to further propel the market's expansion. The stringent regulations regarding emissions and environmental protection in these sectors also encourage the use of advanced lubricants, promoting market growth.

Regionally, North America and Europe are expected to hold significant shares of the blown oil base oil market due to the presence of established automotive and industrial sectors. However, the Asia Pacific region is anticipated to witness the highest growth rate during the forecast period, driven by rapid industrialization, urbanization, and increasing automotive production in countries like China and India. The growing focus on energy efficiency and sustainability in this region also supports the market's expansion.

Product Type Analysis

The Blown Oil Base Oil market is segmented into Mineral Oil, Synthetic Oil, and Bio-based Oil. Each of these product types has distinct characteristics and applications, catering to different sectors' specific needs. Mineral oil, derived from refined crude oil, is the most traditional and widely used type of base oil. It offers a cost-effective solution for various lubrication needs across automotive and industrial applications. Despite its widespread use, mineral oil faces challenges in terms of environmental sustainability and performance under extreme conditions, which limits its growth potential in certain high-demand applications.

Synthetic oil, on the other hand, is formulated through chemical synthesis to provide superior performance characteristics. It is highly favored in applications requiring excellent thermal stability, oxidation resistance, and low-temperature performance. The automotive industry, in particular, is a significant consumer of synthetic oil, given its ability to enhance engine efficiency and longevity. As automotive technologies advance and the demand for high-performance vehicles increases, the synthetic oil segment is expected to witness substantial growth. Additionally, synthetic oils are increasingly used in industrial lubricants for heavy machinery and equipment, further driving the segment's expansion.

Bio-based oil represents the most environmentally friendly option within the blown oil base oil market. Derived from renewable sources such as vegetable oils, bio-based oils are gaining traction due to the increasing focus on sustainability and green initiatives. These oils provide comparable performance to synthetic oils while offering the added benefit of biodegradability and reduced environmental impact. The growing emphasis on reducing carbon footprints and a

Petroleum Market Outlook

The global petroleum market size is projected to reach a staggering value of approximately USD 7.5 trillion by 2032, growing from an estimated USD 5.3 trillion in 2023, exhibiting a compound annual growth rate (CAGR) of 4.0% over the forecast period. This growth is primarily driven by the increasing demand for energy across the globe, with petroleum serving as a key source of fuel for transportation, heating, electricity generation, and industrial applications. The escalating need for energy in developing economies, coupled with the continuous development of infrastructure and urbanization, is propelling the market further.

One of the significant growth factors in the petroleum market is the rising energy consumption in emerging economies such as China, India, and Brazil. These countries are experiencing rapid industrialization and urbanization, leading to increased energy demands. Petroleum products, including gasoline and diesel, are critically important for transportation and industrial sectors in these regions. Additionally, government initiatives to enhance energy efficiency and expand infrastructure are further fueling the petroleum market's growth. As these countries continue to industrialize, the demand for energy, particularly petroleum, is expected to grow, supporting the market's expansion.

Technological advancements in extraction and refining processes are also contributing to the petroleum market's growth. Enhanced oil recovery techniques, such as hydraulic fracturing and horizontal drilling, have significantly improved the efficiency of drilling operations, leading to increased production levels. These advancements are reducing operational costs and enhancing the economic feasibility of extracting unconventional resources, such as shale oil. Furthermore, the development of innovative refining processes allows for a greater yield of refined products from crude oil, thereby catering to the increasing demand for refined petroleum products across various sectors.

The transportation sector is another vital growth driver for the petroleum market. As the global population continues to rise and urbanization accelerates, the demand for automobiles and public transportation systems is growing. Petroleum-based fuels dominate the transportation industry, with gasoline and diesel being the primary energy sources. Moreover, the aviation and marine sectors rely heavily on petroleum products for fuel, driving additional demand. The increasing production and sales of vehicles, particularly in emerging economies, coupled with expanding logistics and transportation networks, are bolstering the demand for petroleum products, thereby driving market growth.

Regionally, Asia Pacific is emerging as a dominant player in the petroleum market, driven by the high energy demands of its rapidly growing economies. China, the largest consumer of petroleum in the region, is a significant contributor to this demand, followed by India. North America remains a key player due to its substantial oil production and technological advancements in extraction techniques. Europe, with its stringent environmental regulations, is focusing on cleaner energy alternatives, posing both opportunities and challenges for the petroleum market. The Middle East & Africa, rich in crude oil reserves, continue to be pivotal in global petroleum supply dynamics. Latin America, with its emerging markets and untapped reserves, is also contributing to the global petroleum demand.

Product Type Analysis

The petroleum market can be segmented into three primary product types: crude oil, refined petroleum products, and petrochemicals. Crude oil is the raw material extracted from the earth, and its global demand is driven by its central role as a feedstock for a multitude of refined products. The exploration and production of crude oil are pivotal, with technological advancements and geopolitical factors playing a critical role in determining supply levels. Nations rich in crude oil reserves, such as Saudi Arabia, Russia, and the United States, are key players driving the global market.

Refined petroleum products encompass a broad range of outputs derived from crude oil, including gasoline, diesel, jet fuel, and lubricants. The demand within this segment is closely tied to the transportation and industrial sectors. Gasoline and diesel remain the most consumed products, accounting for a substantial share of the segment. Innovations in refining technologies are enabling increased efficiency and output, which is crucial to meet the rising demand for these products. Moreover, shi

Petroleum Pdt Consumption: LSHS & HHS: Union Territories data was reported at 8.100 Ton th in 2018. This records an increase from the previous number of 2.000 Ton th for 2017. Petroleum Pdt Consumption: LSHS & HHS: Union Territories data is updated yearly, averaging 12.500 Ton th from Mar 2000 (Median) to 2018, with 18 observations. The data reached an all-time high of 51.000 Ton th in 2001 and a record low of 0.000 Ton th in 2013. Petroleum Pdt Consumption: LSHS & HHS: Union Territories data remains active status in CEIC and is reported by Ministry of Petroleum and Natural Gas. The data is categorized under Global Database’s India – Table IN.RBH001: Petroleum: Consumption.

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Cottonseed Oil Market Size 2023-2027

The cottonseed oil market size is forecast to increase by 965.24 th t at a CAGR of 3.6% between 2022 and 2027. The market is experiencing significant growth due to the health benefits it offers, particularly for those following high-calorie diets or seeking alternatives to saturated fats. Consumers increasingly prefer health-conscious options, leading to increased demand for cottonseed oil. Advanced packaging technologies, such as airtight containers and extended shelf life, are also driving market growth. However, the availability of substitutes, including canola oil and brominated oils, poses a challenge. Moreover, the rising popularity of organic variants, such as hemp seed oil and omega-3 and omega-6 rich oils, caters to the needs of cancer and heart disease patients.

Furthermore, the market is witnessing expansion due to the health advantages it provides, particularly for individuals following energy-dense diets or opting for alternatives to saturated fats. The shift towards healthier choices among consumers is fueling market growth. Advanced packaging solutions, including airtight containers and extended shelf life, are also contributing to market expansion. However, the presence of substitutes, such as canola oil and brominated oils, poses a challenge. Additionally, the increasing preference for organic alternatives, including hemp seed oil and omega-3 and omega-6 rich oils, caters to the needs of cancer and heart disease patients.

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Cottonseed oil, derived from the seeds of cotton plants, has been a staple ingredient in various industries for decades. Its unique properties, such as high smoke point, neutral flavor, and rich content of unsaturated fatty acids, make it an ideal choice for numerous applications. In the food processing sector, cottonseed oil is widely used due to its high smoke point, which allows for deep frying without the risk of burning or developing off-flavors. This attribute is particularly essential in modern trade stores where the shopping experience is crucial, as consumers demand consistent product quality.

Furthermore, cottonseed oil is also a popular choice in the culinary world, especially for cooking applications. Its neutral flavor profile makes it an excellent base oil for various dishes, allowing other ingredients to shine. Furthermore, its high content of unsaturated fatty acids, including monounsaturated and polyunsaturated fatty acids, makes it a healthier alternative to other cooking oils with high saturated fat content. Besides food processing and cooking, cottonseed oil finds extensive applications in the cosmetics industry. Its anti-aging properties and anti-inflammatory benefits make it an essential ingredient in various skincare and personal care products. The health-conscious consumers' growing preference for heart-healthy options has led to an increased demand for cottonseed oil.

Additionally, the use of advanced packaging techniques ensures that cottonseed oil maintains its quality and freshness, extending its shelf life. Brominated oils and high-calorie diets are not ideal choices for health-conscious consumers. In contrast, cottonseed oil, with its heart-healthy benefits and neutral flavor, is an attractive alternative. Moreover, the increasing popularity of omega-3 and omega-6 rich oils like hemp seed oil has not significantly impacted the market. While these oils offer unique health benefits, cottonseed oil's versatility and affordability make it a preferred choice for many consumers. In conclusion, the market is witnessing significant growth due to its unique properties and wide range of applications in food processing, cooking, and cosmetics. The increasing preference for heart-healthy options and the growing demand from health-conscious consumers further bolster the market's growth.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD th t' for the period 2023-2027, as well as historical data from 2017-2021 for the following segments.

Product

  GM cottonseed oil
  Non-GM cottonseed oil


Distribution Channel

  Offline
  Online


Geography

  APAC

    China
    India


  Middle East and Africa



  North America

    US


  South America

    Brazil


  Europe

By Product Insights

The GM cottonseed oil segment is estimated to witness significant growth during the forecast period. Cottonseed oil, derived from the seeds of cotton plants, holds a significant market share due to its high oil content and desirable characteristics for cooking and food processing. In 2022, the conventional cottonseed oil segment dominated the global market. However, the increasing consumer awareness and concerns regarding genetically modified cottonseed oil may lead to a decrease in its market share during the forecast peri

India White Oil Market size is valued at USD 110.91 Million in 2023 and is anticipated to reach USD 161.52 Million by 2031, growing at a CAGR of 4.8% from 2024 to 2031.

Key Market Drivers: Growing Demand in Cosmetics: The cosmetics and personal care industry is expanding rapidly, with an expected market growth rate of 8-10% annually. White oil is widely used in products like moisturizers and makeup removers, driving its demand in this sector.

Expanding Pharmaceutical Industry: The Indian pharmaceutical sector is projected to grow significantly, with an expected market size of USD 130 Billion by 2030. White oil's applications in creams, ointments, and laxatives make it essential for pharmaceutical manufacturing.

Increased Production Capacities: Major pharmaceutical companies are continuously increasing their production capabilities, which is anticipated to boost the demand for white oil as a key ingredient in various formulations. Versatility Across Industries: White oil's versatility allows its use in multiple applications beyond cosmetics and pharmaceuticals, including food processing and plastics. This broad applicability supports sustained demand across various sectors.

Projected oil demand in Asia-Pacific is the highest in the world, at 36.7 million barrels daily in 2020, followed closely by the Americas. Overall global oil consumption is expected to increase in 2020 and has been rising steadily throughout the past two decades.

Countries with high consumption

The United States consumes the most petroleum of any country in the world, and is the driving factor behind the Americas ranking as the region with second-highest petroleum consumption. Brazil and Canada are also among the ten largest petroleum consumers, but on a much smaller scale than the United States. China is the second-largest consumer in the world, followed by India and Japan, making Asia-Pacific the highest consuming region overall.

Largest oil importers

Though Europe consumes about half as much oil as Asia-Pacific or the Americas, the region is the largest importer of oil worldwide. As resources in the North Sea have depleted, oil production in the European Union has declined significantly over the past two decades. Among E.U. countries, Germany has the highest oil consumption.