Why did the White Oil Price Change in July 2025? White oil prices in North America declined by 5.8% QoQ in Q2 2025, as tepid downstream demand and easing logistics costs exerted continuous downward pressure on the market.

Get the latest insights on price movement and trend analysis of White Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

During the Q2 of 2024, the price of white oil in the United States reached 1638 USD/MT in June. The U.S. market exhibited stability, driven by a steady supply-demand outlook and regular refinery functions. Despite fluctuating rates of crude oil and minor geopolitical conflicts, the market remained resilient, with only slight seasonal price variations due to increased demand for cosmetic products during summer. In confluence with this, prices remained static compared to earlier quarters, reflecting a dependable pricing environment, ensuring minimal disruption in the white oil market.

The White Oil Market Report Segments the Industry by Grade (Technical/Industrial Grade and Pharmaceutical Grade), Base Oil (Group I, Group II, Group III, and Naphthenic), Viscosity (Low, Medium, and High), Application (Plastics and Elastomers, Adhesives, Personal Care, Pharmaceuticals, and More), and Geography (Asia-Pacific, North America, Europe, and More). The Market Forecasts are Provided in Terms of Volume (Tons).

The white oils market, valued at approximately $3.41 billion in 2025, is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 2.9% from 2025 to 2033. This growth is driven by increasing demand across diverse applications, particularly in the pharmaceutical, cosmetic, and food industries, where white oils are valued for their purity, inertness, and lubricating properties. The market's expansion is further fueled by technological advancements leading to improved refining processes and the development of specialized white oils tailored to specific applications. Strong growth in emerging economies, particularly in Asia-Pacific, is anticipated to contribute significantly to the overall market expansion. However, fluctuating crude oil prices and stringent environmental regulations pose challenges to market growth. Companies like Sasol, Shell, ExxonMobil, and others are major players, constantly innovating to meet the evolving needs of different sectors. The competitive landscape is characterized by both established international players and regional manufacturers, contributing to market dynamism. Future growth will likely depend on the successful development of sustainable production methods and the ability to meet the demands of a growing global population. The competitive landscape is dominated by several key players, including global giants such as Sasol, Shell, and ExxonMobil, alongside a significant number of regional producers, including Farabi Petrochem, Savita Oil, and others. These companies are engaging in strategic activities such as mergers and acquisitions, collaborations, and investments in R&D to improve their market position and cater to growing demands. The pharmaceutical and cosmetic sectors are anticipated to drive substantial market growth, necessitating high purity standards and consistent product quality. This fuels investment in advanced purification technologies and quality control measures. The food industry, though smaller than the pharmaceutical and cosmetic segments, also presents a significant opportunity, driven by the demand for safe and reliable lubricants in food processing equipment. Overall, the market is poised for sustained growth, driven by the aforementioned factors, albeit at a moderate pace due to potential challenges from fluctuating crude oil prices and stringent environmental legislation.

The White Oil Market size is expected to reach a valuation of USD 2.56 billion in 2033 growing at a CAGR of 5.2%. The White Oil market research report classifies market by share, trend, demand, forecast and based on segmentation.

White Oil Market may grow because of health awareness among people & pharmaceutical sector is expected to reach $372 billion by 2022, driven by rise in the healthcare sector.

The market is segmented by application (plastics and elastomers, adhesives, personal care, agriculture, food and beverage, pharmaceutical and other applications), by grade (technical/industrial grade and pharmaceutical and other grades), by viscosity(medium and high). The report offers the market size and forecasts for the India White Oil Market based on volume (kilo liter) for all the above segments.

The global white oil market size was worth more than USD 2.23 billion in 2024 and is poised to witness a CAGR of over 5.7%, crossing USD 4.58 billion revenue by 2037. Personal Care segment is expected to secure largest share by 2037, due to increasing consumption of personal care and baby care products.

Food Grade White Mineral Oil Market Outlook

The global market size for food grade white mineral oil was valued at approximately USD 350 million in 2023 and is projected to reach USD 550 million by 2032, growing at a CAGR of 5.4% during the forecast period. This growth can be attributed to the increasing demand for high-quality, safe, and versatile ingredients in various industries, including food processing, pharmaceuticals, and cosmetics. The market is driven by the stringent regulatory requirements for food safety and the rising awareness among consumers about the health benefits of high-grade mineral oils.

The growth factors of the food grade white mineral oil market are multifaceted. Firstly, the expanding food and beverage industry is a significant driver. As the global population continues to grow and urbanize, the demand for processed and packaged foods is on the rise. Food grade white mineral oil is widely used in food processing and packaging due to its non-toxic, odorless, and tasteless properties, making it a preferred choice for food manufacturers. Additionally, the stringent regulations on food safety and hygiene standards are pushing manufacturers to adopt high-quality, food-grade mineral oils to ensure compliance and consumer safety.

Secondly, the pharmaceutical and cosmetic industries are contributing to the market growth. In the pharmaceutical industry, food grade white mineral oil is used as a lubricant in the production of tablets and capsules, as well as a base ingredient in various ointments and lotions. Similarly, in the cosmetic industry, it is used in the formulation of skincare and haircare products due to its moisturizing and non-comedogenic properties. The increasing demand for pharmaceuticals and cosmetics, driven by rising healthcare awareness and beauty consciousness, is fueling the market growth.

Thirdly, advancements in production technologies and the development of new applications are driving the market. Innovations in refining processes have improved the quality and purity of food grade white mineral oils, making them suitable for a wider range of applications. Research and development activities are also leading to the discovery of new uses in industries such as agriculture, where food grade white mineral oil is used as a pesticide spray adjuvant. These technological advancements and new applications are expected to open up new growth avenues for the market.

In terms of regional outlook, North America and Europe are the leading markets for food grade white mineral oil, owing to the stringent regulatory frameworks and high standards of food safety in these regions. The Asia Pacific region is expected to witness significant growth during the forecast period, driven by the rapid industrialization and urbanization in countries like China and India. The increasing disposable income and changing lifestyles in these countries are leading to a higher demand for processed foods, pharmaceuticals, and cosmetics, thereby boosting the market for food grade white mineral oil.

Mineral Turpentine is a versatile solvent that finds extensive use in industries such as paint and coatings, cleaning, and degreasing. Its ability to dissolve oils, fats, and resins makes it an essential component in the formulation of paints, varnishes, and lacquers. In the cleaning industry, mineral turpentine is valued for its effectiveness in removing grease and grime from surfaces, making it a popular choice for both industrial and household cleaning products. Additionally, its role as a degreasing agent in automotive and machinery maintenance highlights its importance in ensuring the smooth operation of mechanical systems. As industries continue to seek efficient and cost-effective solutions, the demand for mineral turpentine is expected to remain robust.

Product Type Analysis

The food grade white mineral oil market is segmented by product type into light grade and heavy grade. Light grade mineral oil is characterized by its lower viscosity and is commonly used in applications where a thin, easily spreadable oil is required. Heavy grade mineral oil, on the other hand, has a higher viscosity and is used in applications demanding a thicker, more lubricative oil. The choice between light and heavy grade mineral oil depends on the specific requirements of the application.

Light grade mineral oil holds a significant share in the market due to its widespread use in the food processing and pharmaceutical industries

The global white oil market size was valued at USD 16.3 billion in 2025 and is projected to grow at a CAGR of 1.25% from 2025 to 2033. White oil, also known as mineral oil, is a highly refined petroleum product that is used in various industrial and consumer applications due to its colorless, odorless, and tasteless properties. The increasing demand for white oil in the plastics and elastomers industry is a key driver of the market growth. White oil is used as a plasticizer in the production of PVC, polyethylene, and other plastics, enhancing their flexibility and durability. Regional analysis reveals that Asia Pacific accounted for the largest share of the white oil market in 2025, with China, India, and Japan being the major contributors. The region's rapid industrialization and growing population are driving the demand for white oil in various applications, including plastics and elastomers, personal care, and textile. North America and Europe are also significant markets for white oil, owing to the presence of well-established manufacturing industries. Key players operating in the global white oil market include Bharat Petroleum Corporation Limited, Calumet Specialty Products Partners, China Petrochemical Corporation (Sinopec), Exxon Mobil Corporation, H&R Group, and Shell. These companies are investing in research and development to enhance product quality and expand their global presence. Recent developments include: April 2022: Indorama Ventures Public Company Limited (IVL) announced the completion of the acquisition of Oxiteno SA. Through the acquisition, IVL broadens its development profile into lucrative markets in Latin America and the United States. It established itself as the continent's top producer of surfactants with additional opportunities to improve in Europe and Asia.. Key drivers for this market are: Growing Demand from Cosmetics and Personal Care Industry, Growing Pharmaceutical Industry. Potential restraints include: Growing Demand from Cosmetics and Personal Care Industry, Growing Pharmaceutical Industry. Notable trends are: Increasing Demand from Personal Care Products Across the World.

The global white oil market size reached approximately USD 1.50 Billion in 2024. The market is projected to grow at a CAGR of 3.00% between 2025 and 2034 reaching a value of USD 2.02 Billion by 2034.

The U.S. White Oil Market size was valued at USD 536.4 USD Million in 2023 and is projected to reach USD 715.42 USD Million by 2032, exhibiting a CAGR of 4.2 % during the forecast period. White oil, also referred to as mineral oil or paraffin oil, is a purified fluid that is colourless and does not possess any noticeable smell and it is produced from petroleum. It can be categorized into light, medium lots, and heavy lots depending on its viscosity level. White oil is very pure and quite stable and therefore is applicable in a very many uses. They are employed especially in pharmaceutical and cosmetic products such as lotions, creams, and ointments due to their non-toxic and hypoallergenic nature. In the food processing industry, for example, it is used as an edible grease for the operation of food processing machinery and also as the baking release agent. White oil is also widely used in the textile and plastic industries as a lubricant and as plasticizer respectively. It is non-sticky, does not mix with water and has a very long shelf life, factors that guarantee the effectiveness and safety of the product. Recent developments include: Acquisition of white oil facilities by leading players Expansion of production capacity Introduction of new white oil grades Partnerships for research and development. Key drivers for this market are: Rising Product Demand in Food Processing Due to its Versatile Nature to Drive Market Growth . Potential restraints include: Fluctuations in the Raw Material Prices May Hamper Market Growth. Notable trends are: Rising Demand for Safer Cosmetic Products to Fuel Market Growth.

White Oil Market has been estimated to reach USD 3.2 Billion by 2032, increasing at an annualized growth rate (CAGR) of 4.5%.

The White Oil Market size was valued at USD 2.88 USD Billion in 2023 and is projected to reach USD 3.87 USD Billion by 2032, exhibiting a CAGR of 4.3 % during the forecast period. The White Oil Industry is concerned with the manufacturing of deodorized and light-coloured oil without colour and scent taints. It goes by the name of liquid paraffin or white mineral oil which exhibits expanded application in the pharmaceutical and other processing industries like personal care, cosmetics, and food. The name-white oil, which is a lubricant, a carrier-oil as well as an emollient is used in manufacturing creams, ointments, baby oil as well as food-grade lubricant. Trends in the niche are among the factors, such as the fact that the human body is resistant to white oils, and they are the safest option. Therefore, high purchaser demand for oil in the pharmaceutical and cosmetic sectors is expected to continue. Secondly, we see the emergence of products that are based on biomass because of the environmental concerns and regulatory obligations leading to the invention of new ones for a sustainable white oil production technique. With industries increasingly seeking an increased focus on safety, purity, and sustainability the white oil market is envisaged to experience a growth spurt in addition to technological advancements. Recent developments include: In 2022, Exxon Mobil announced plans to invest USD 200 million in its white oil production facility in Louisiana, U.S.

In 2023, Bharat Petroleum Corporation acquired a majority stake in S.A. White Oil Company, expanding its presence in the white oil market.. Key drivers for this market are: Rising Demand from Pharmaceutical Industry to Fuel Market Growth. Potential restraints include: Fluctuating Raw Material Prices to Hinder Market Growth. Notable trends are: Rising Demand for Safe Beauty and Personal Care Products to Offer New Market Growth Opportunities.

White Oil Market Outlook

The global white oil market size was valued at approximately USD 2.3 billion in 2023, and it is projected to reach around USD 3.5 billion by 2032, growing at a steady compound annual growth rate (CAGR) of 4.8% during the forecast period. This market growth is primarily driven by the increasing demand for white oil in various industries such as cosmetics, pharmaceuticals, and food, alongside rising technological advancements in oil refining processes. The versatility of white oil, which is used in a multitude of applications ranging from personal care products to industrial lubricants, bolsters its market appeal and expansion trajectory.

One of the primary growth factors for the white oil market is the booming cosmetics and personal care industry, which demands high-quality ingredients for skincare and haircare products. White oils are utilized for their moisturizing properties and as a base for creams and lotions. The global rise in disposable income and changing consumer preferences towards natural and safe product ingredients have led to increased use of white oils in this segment. Additionally, the pharmaceutical industry's growth, driven by the emphasis on healthcare and life sciences innovations, has further fueled demand for pharmaceutical-grade white oils, which are crucial as carriers and excipients in drug formulations.

The food industry also contributes significantly to the white oil market expansion. White oil is utilized in food packaging, as a release agent, and in food-grade lubricants, ensuring safety and non-toxicity in food processing applications. With the growing global population and food consumption, the demand for packaged and processed food is on the rise, consequently boosting the requirement for white oil. Furthermore, the increased regulatory emphasis on food safety standards across the globe ensures that food-grade white oil maintains its market vigor, as it meets the stringent criteria set forth by food safety authorities.

Technological advancements in refining technology have allowed for the production of more refined and pure white oils, thus enhancing their suitability for high-end applications. This factor, combined with heightened awareness of the benefits of white oil in industries like plastics and polymers, has amplified its adoption. The textile industry also presents growth opportunities for the white oil market, as it is used in fiber processing and lubrication of machinery. The ability of white oil to enhance fabric texture and fiber lubrication without leaving residues adds to its demand in the textile sector.

The regulatory landscape surrounding Low Aromatic White Spiritlaws plays a crucial role in shaping the white oil market. These laws are designed to ensure that products meet specific safety and environmental standards, which is particularly important given the diverse applications of white oil in industries such as cosmetics, pharmaceuticals, and food. Compliance with these regulations not only ensures the safety and efficacy of white oil products but also enhances consumer trust and market acceptance. As the demand for environmentally friendly and sustainable products grows, adherence to Low Aromatic White Spiritlaws becomes increasingly significant, driving manufacturers to innovate and refine their production processes to meet these stringent requirements.

Product Type Analysis

The white oil market is segmented into product types, including Light Paraffinic, Heavy Paraffinic, and Naphthenic white oils. Each of these variants has distinct characteristics that make them suitable for diverse applications, thereby catering to the specific needs of various industries. Light paraffinic white oils, known for their high purity and excellent lubricating properties, are predominantly used in cosmetics and pharmaceutical applications. Their lower viscosity and better absorption make them ideal for use in skincare formulations and ointments where consistency and ease of application are critical.

Heavy paraffinic white oils, characterized by their higher molecular weight and viscosity, find significant use in industrial applications where high performance in lubrication is required. This segment is witnessing increased demand in the manufacturing sector, particularly in machinery lubrication and process oils for polymers and plastics. The ability of heavy paraffinic oils to provide stable lubrication in high-temperature applications enhances their desirability in industri

White Oil Market size is estimated to be valued at USD 1.83 Bn in 2025 and is expected to expand at a CAGR of 5.0%, reaching USD 2.57 Bn by 2032.

The high-quality white oil market is experiencing robust growth, driven by increasing demand from diverse sectors. The market, estimated at $2 billion in 2025, is projected to expand at a compound annual growth rate (CAGR) of 5% from 2025 to 2033, reaching approximately $2.8 billion by 2033. This growth is primarily fueled by the expanding pharmaceutical and cosmetic industries, where high-quality white oil is a crucial ingredient in various products such as ointments, creams, and lotions. The rising consumer preference for natural and organic products also contributes to market expansion, as white oil is a naturally derived, inert substance. Furthermore, its use as a lubricant in specialized applications, such as food processing and medical devices, is boosting demand. Key players such as Sasol, Shell, and ExxonMobil are actively investing in research and development to improve product quality and expand their market share. However, fluctuating crude oil prices and stringent environmental regulations pose significant challenges to market growth. Despite these challenges, the market presents lucrative opportunities. The growing focus on sustainable and environmentally friendly alternatives is driving innovation in the production of high-quality white oil, with manufacturers exploring ways to reduce their environmental footprint. The increasing demand from emerging economies, particularly in Asia-Pacific, is also expected to contribute significantly to market growth over the forecast period. Regional variations in demand will likely be influenced by factors such as economic development, regulatory landscape, and consumer preferences. Companies are focusing on strategic partnerships and acquisitions to enhance their product portfolio and expand their geographical reach. The ongoing development of new applications for high-quality white oil, coupled with advancements in refining technologies, will further propel market expansion in the coming years.

The White Oil Market Share size & share value expected to touch USD 2609.29 million by 2034, to grow at a CAGR of 4.3% during the forecast period.

White Oil Market Outlook

According to our latest research, the global white oil market size reached USD 2.45 billion in 2024, driven by robust demand across pharmaceutical, personal care, and plastics industries. The market is projected to grow at a CAGR of 4.8% from 2025 to 2033, with the total market size expected to reach USD 3.75 billion by 2033. This growth is primarily attributed to the expanding applications of white oil in several end-use industries, coupled with stringent regulatory standards that are increasing the adoption of highly refined, pure oils in sensitive applications.

A key factor fueling the growth of the white oil market is the surging demand from the personal care and cosmetics sector. White oil, known for its exceptional purity, colorlessness, and chemical stability, is widely used in the formulation of lotions, creams, ointments, and other skincare products. The rising global consciousness regarding personal grooming and hygiene, particularly in emerging economies, is significantly boosting the consumption of cosmetics and personal care products, thereby spurring the demand for pharmaceutical and technical grade white oils. Furthermore, the shift towards premium and organic personal care products is prompting manufacturers to utilize high-quality white oils that meet stringent safety and purity standards.

Another prominent growth driver is the increasing utilization of white oil in the pharmaceutical and food sectors. In pharmaceuticals, white oil is used as an excipient in ointments, laxatives, and various topical formulations due to its inertness and non-toxicity. The food industry leverages white oil for food-grade lubricants, release agents, and packaging applications, adhering to strict regulatory requirements. The expanding global population, coupled with rising healthcare awareness and food safety standards, is amplifying the demand for pure, contaminant-free oils. This trend is particularly evident in regions with rapidly growing healthcare and food processing industries, such as Asia Pacific and Latin America.

Technological advancements in refining processes and the development of ultra-pure, specialty white oils are also propelling market expansion. Innovations in hydrocracking and hydrotreating technologies have enabled manufacturers to produce white oils with superior purity, meeting the evolving needs of high-growth sectors like plastics, polymers, and adhesives. The increasing adoption of white oil as a processing aid in polymer manufacturing, especially for applications requiring high transparency and flexibility, is further catalyzing market growth. As industries continue to seek high-performance, safe, and regulatory-compliant solutions, the demand for advanced white oil products is anticipated to witness sustained growth throughout the forecast period.

From a regional perspective, Asia Pacific dominates the global white oil market, accounting for the largest revenue share in 2024, followed by North America and Europe. The rapid industrialization, burgeoning middle-class population, and significant investments in healthcare and food processing sectors in China, India, and Southeast Asia are key factors driving regional growth. North America and Europe, characterized by stringent regulatory environments and a mature industrial base, continue to witness steady demand, particularly in pharmaceutical and personal care applications. Meanwhile, Latin America and the Middle East & Africa are emerging as promising markets, supported by expanding manufacturing activities and rising consumer awareness regarding product quality and safety.

Grade Analysis

The white oil market is segmented by grade into pharmaceutical, technical, and food grades, each catering to distinct end-use requirements and regulatory standards. Pharmaceutical grade white oil holds the largest market share, driven by its extensive application in healthcare, personal care, and food industries where purity and safety are paramount. This grade undergoes rigorous refining, ensuring it meets stringent pharmacopeial standards such as USP, BP, and EP. The increasing prevalence of chronic diseases, aging populations, and growing demand for topical medications and personal care products are collectively fueling the consumption of pharmaceutical grade white oil globally. Furthermore, stringent regulations governing ingredient safety in pharmaceuticals and cosmetics are compelling manufacturers to adopt high-purity white oils, which is expected to sustain th