India White Oil Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the India White Oil Market according to our research experts:
Pharmaceutical Industry Will Experience Significant Growth
- The pharmaceutical segment is the second-largest consumer of white oil. White oil is used in the production of laxative jellies, pomades, balms, creams, capsule lubricants, pelletizing aids, ointment bases, vaccines, etc.
- Pharmaceutical-grade white oil is used in this application segment as it has the highest degree of purity. The viscosity of white oil, ranging from light to medium, is used in pharmaceutical applications.
- According to the Government of India, the Indian pharma industry market size is expected to reach USD 130 billion by 2030. Furthermore, India has provided pharmaceutical products to more than 200 countries and may continue to do so in the future.
- India is the largest provider of generic drugs, which satisfies 40% of the generic drug demand in the United States and 30% of the United Kingdom. The domestic drug manufacturers consist of a chain of around 10,500 companies.
- Owing to the aforementioned factors, the demand for white oil will likely grow in the pharmaceutical application segment during the forecast period.
Plastics and Elastomers is Expected to Hold Significant Growth
- The plastics industry uses low-volatility white oils to produce plastics and various other polymers to improve and control the melt flow rate of the finished polymer to provide release properties or change the physical characteristics.
- White oils also play a vital role in the manufacture of thermoplastic elastomers. Elastomeric materials that can be processed without vulcanization use white oil as an extender to facilitate fabrication, particularly when light color or food approval is required. For this application, any of the Primol white oils can be helpful, depending on its particular function in the process.
- In Mar 2022, the Board of Supreme Petrochem approved Phase II expansion of its Expandable Polystyrene (EPS) plant at Nagothane, Maharashtra, by 30,000 MTA.
- Additionally, in 2021, LG Polymers India proposed to expand its polymer manufacturing capacity (inclusive of polystyrene) from 415 tons per day to 655 tons per day.
- Owing to all the aforementioned factors, the demand for white oil in plastics and elastomers applications will likely grow during the forecast period.
India White Oil Industry Overview
The Indian white oil market is consolidated in terms of volume. Some of the major market players (not in any particular order) include Savita OIl, Apar Industries Ltd., RAJ PETRO, Gandhar Oil and BPCL.
India White Oil Market Leaders
-
Savita Oil
-
Apar Industries Ltd.
-
RAJ PETRO
-
Gandhar Oil
-
BPCL
*Disclaimer: Major Players sorted in no particular order
India White Oil Market News
The recent developments that occurred in this market will be covered in the final report.
India White Oil Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Cosmetics and Personal Care Industry
4.1.2 Growing Pharmaceutical Industry
4.2 Restraints
4.2.1 Availability Of Substitute Products
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Applications
5.1.1 Plastics and Elastomers
5.1.2 Adhesives
5.1.3 Personal Care
5.1.4 Agriculture
5.1.5 Food and Beverage
5.1.6 Pharmaceutical
5.1.7 Other Applications
5.2 Grade
5.2.1 Technical/Industrial Grade
5.2.2 Pharmaceutical and Other Grades
5.3 Viscosity
5.3.1 Low
5.3.2 Medium
5.3.3 High
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/ Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 APAR Industries
6.4.2 Bharat Petroleum Corporation Limited
6.4.3 Columbia Petro Chem Pvt. Ltd?
6.4.4 ExxonMobil Corporation
6.4.5 Gandhar Oil Refinery (India) Limited
6.4.6 H&R Group
6.4.7 Raj Petro Specialities Pvt. Ltd
6.4.8 RenkertOil
6.4.9 Shell plc
6.4.10 Sasol
6.4.11 Savita Oil
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Potential 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 Research 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.
What years does this India White Oil Market cover?
The report covers the India White Oil Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India White Oil Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India White Oil Industry Report
Statistics for the 2024 India White Oil market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. India White Oil analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
