White Oil Price Trend

White Oil Prices December 2023

The price of white oil in the Chinese market reached 1148 USD/MT in the fourth quarter of 2023. The prices of crude oil prices depicted a decline, however white oil prices in the region exhibited limited changes due to the establishment of an appropriate gap between existing demand and current supplies. Additionally, the demand from the automotive downstream industry was considerable on account of the modest rise in automotive sales during the months of September and October. Another factor affecting the white oil prices across the region include the persistent changes in the crude oil process which are further leading to an increase in the production costs. However, the market witnessed a bearish trend on account of the major shift of automotive key players toward electric automotive and the deteriorating economic conditions.

White Oil Price Trend, Market Analysis, and News

IMARC's latest publication, “White Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the white oil market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of white oil at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed white oil price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting white oil pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

White Oil Market Analysis

The global white oil market size reached US$ 2.1 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 2.8 Billion, at a projected CAGR of 3.00% during 2023-2032.

• White oil is highly used in the pharmaceutical industry due to its purity, safety, and stability, thus propelling the market growth. Other than this, there has been a rise in product adoption to manufacture lotions, creams, and ointments, on account of its hypoallergic and non-reactive properties. According to THE HINDU, the pharmaceutical industry of India is projected to reach $130 Billion by 2023, by exhibiting a growth rate of 10%. Besides this, with the rising geriatric population globally the need for pharmaceuticals and healthcare products is constantly rising, thus creating a positive market outlook. Moreover, regulatory bodies such as the FDA issue regulatory approvals, certifying white oil for application in food and drugs, thereby positively driving the market.
• Another factor which is influencing the white oil market is the increasing adoption in the personal care and cosmetics industry. According to a report published by the IMARC GROUP, the global cosmetics market has reached US$ 400.6 Billion in 2023, and is projected to reach US$ 618.7 Billion by 2023. The market displays a growth rate of 4.8% during 2024-2032. Within this industry, the product is primarily used in hair conditioners, moisturizers, cosmetics, and bath oils. Other than this, the growing awareness about personal grooming and skincare among individuals, and the rising popularity of these products among men is driving the market.
• Moreover, white oil is massively adopted in the food industry, serving as a release agent for baking and a lubricant for machinery in food processing. Additionally, the rising food processing equipment market is another industry depicting a positive white oil market. As per the IMARC GROUP, the global food and beverage processing equipment market has already reached US$ 61.4 Billion in 2023, and is expected to reach US$ 93.8 Billion by 2032. Besides this, the rapid urbanization and exponentially increasing population across the globe is leading to a vast increase in the demand for food and beverage products, which is eventually fueling the market for white oil. Moreover, white oil possesses an inert nature due to which it is suitable to be used in areas with food contact, thus making it a preferred choice in the food and beverage (F&B) industry.

White Oil News

The report covers the latest developments, updates, and trends impacting the price of white oil, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the white oil price trend.

Latest developments in the white oil industry:

• In 2022, Indorama ventures announced the acquisition of 100% of Brazil-based Oxiteno S.A. Indústria e Comércio, becoming a leading global supplier in high-value surfactant markets. This strategic step has been taken with the view of increasing sustainable practices.

Product Description

White oil generally known as mineral oil refers to a refined petroleum product recognized by its colorless and odorless properties. It majorly consists of cyclic paraffins and alkanes due to the robust purification procedure. This procedure grants whit oil a distinctive water such as appearance also making it one of the purest forms of petroleum.

White oil is produced by following numerous steps, beginning with the distillation of crude oil. This procedure starts with the elimination of volatile fractions through a distillation column, and a solvent extraction after that. The second step includes the hydrocracking and hydrogenation, whereas the final stage includes the rigorous filtration of the product in order to ensure its stability and purity.

White oil is used in a wide array of application, such as cosmetics and personal care, pharmaceutical and medical industries, food industry, and a variety of other applications. This oil also finds its application in the textile industry where it is used to spin fibers.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the white oil price trend.

Global White Oil Price

The report offers a holistic view of the global white oil pricing trends in the form of white oil price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of white oil, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed white oil demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe White Oil Price

The European region displayed a variety of trend in the white oil market in the fourth quarter of 2023. The technical grade of the market witnessed constant price changes due to the sales of the automotive industry increasing in the months of October and November. Whereas, the cosmetic industry reflected an upward trend thereby influencing the demand in the lubricant industry. Moreover, the positive market performance of white oil in the cosmetic industry can be accredited to the winter season, which bolstered the demand for skincare.

European white oil prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

This analysis can be extended to include detailed white oil price information for a comprehensive list of countries.

North America White Oil Price

In North America the white oil prices in the fourth quarter of 2024 remained steady although there was a dip in the prices of crude oil. The steadiness in the prices of white oil was owing to the stable demand from the cosmetic industry, due to abnormal weather conditions.

The analysis of white oil prices in North America delves into the regional industry dynamics, encompassing the impact of local production capacities and the trade flows between North America and other significant global markets.

Specific white oil historical data within the United States and Canada can also be provided.

Middle East and Africa White Oil Price

The white oil market in the Middle East and Africa (MEA) region showcased a bearish sentiment owing to weaker demand fundamentals from downstream businesses. It has led to limited self-consumption and low exports, resulting in downward price trends. Furthermore, the region is experiencing challenging economic conditions and a liquidity crisis, leading to a further decline in market activity and purchasing power.

The report explores the white oil pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on white oil prices for countries can also be provided.

Asia Pacific White Oil Price

The white oil price in the Asia Pacific region remained stable owing to the moderate demands from the downstream industry. The prices in the Chinese region maintained stability despite the fall in crude oil prices.

The white oil pricing trends in Asia Pacific are examined, reflecting the role of the region as a major global production hub and consumer market, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This white oil price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America White Oil Price

The analysis of white oil prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of white oil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting white oil price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The white oil price charts ensure our clients remain at the forefront of the industry.