Market Size of India White Oil Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India White Oil Market Analysis
The Indian white oil market was valued at 304,355.11 Kilo liters in 2021 in volume terms and is expected to register a CAGR of 1.69% during the forecast period (2022-2027).
White oils are highly refined mineral oils that are extremely pure, stable, colorless, odorless, non-toxic, and chemically inert. COVID-19 has significantly impacted India's white oil market, but it is expected to recover in the forecast period.
- The improving lifestyle and growing demand for cosmetics are expected to drive the market. Also, considering a huge potential in the pharmaceutical industry, white oil finds a major application in the above industry.
- The availability of substitute products is likely to hinder the white oil market.
- The market opportunities include its possible usage in the food and beverage industry.
India White Oil Industry Segmentation
White oils are mineral oils used to soften rubber and polymer products. They are used as a blending base for Pharmaceutical and Cosmetic Products. The India White Oil market is segmented by application, grade, and viscosity. By application, the market is segmented into plastics and elastomers, adhesives, personal care, agriculture, food and beverage, pharmaceutical, and other applications. By grade, the market is segmented into technical/industrial grade and pharmaceutical and other grades. By viscosity, the market is segmented into low, medium, and high. The report also covers the size and forecasts for the Indian White Oil market. For each segment, the market sizing and forecasts have been done based on volume (Kilo liter).
| Applications | |
| Plastics and Elastomers | |
| Adhesives | |
| Personal Care | |
| Agriculture | |
| Food and Beverage | |
| Pharmaceutical | |
| Other Applications |
| Grade | |
| Technical/Industrial Grade | |
| Pharmaceutical and Other Grades |
| Viscosity | |
| Low | |
| Medium | |
| High |
India White Oil Market Size Summary
The Indian white oil market is characterized by its highly refined mineral oils that are pure, stable, colorless, odorless, non-toxic, and chemically inert. Despite the challenges posed by the COVID-19 pandemic, the market is poised for recovery and growth, driven by improving lifestyles and increasing demand for cosmetics. The pharmaceutical industry represents a significant application area for white oil, utilizing it in the production of various products such as laxative jellies, balms, and vaccines, due to its high purity and varying viscosity. The Indian pharmaceutical sector, a major player globally, is expected to further boost the demand for white oil, given its extensive production capabilities and export reach.
In addition to pharmaceuticals, the plastics industry also contributes to the demand for white oil, using it to enhance the properties of plastics and polymers. White oil's role in manufacturing thermoplastic elastomers, particularly for applications requiring light color or food approval, underscores its versatility. Recent expansions in polymer manufacturing capacities by companies like Supreme Petrochem and LG Polymers India highlight the growing need for white oil in these sectors. The market is consolidated, with key players such as Savita Oil, Apar Industries Ltd., RAJ PETRO, Gandhar Oil, and BPCL leading the industry. Overall, the Indian white oil market is expected to experience steady growth, supported by its diverse applications and the expanding pharmaceutical and plastics industries.
India White Oil Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Cosmetics and Personal Care Industry
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1.1.2 Growing Pharmaceutical Industry
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1.2 Restraints
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1.2.1 Availability Of Substitute Products
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1.2.2 Other Restraints
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1.3 Industry Value-chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Applications
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2.1.1 Plastics and Elastomers
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2.1.2 Adhesives
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2.1.3 Personal Care
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2.1.4 Agriculture
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2.1.5 Food and Beverage
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2.1.6 Pharmaceutical
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2.1.7 Other Applications
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2.2 Grade
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2.2.1 Technical/Industrial Grade
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2.2.2 Pharmaceutical and Other Grades
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2.3 Viscosity
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2.3.1 Low
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2.3.2 Medium
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2.3.3 High
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India White Oil Market Size FAQs
What is the current India White Oil Market size?
The India White Oil Market is projected to register a CAGR of less than 2% during the forecast period (2024-2029)
Who are the key players in India White Oil Market?
Savita Oil, Apar Industries Ltd., RAJ PETRO, Gandhar Oil and BPCL are the major companies operating in the India White Oil Market.
