Report Code: CMI30631

Published Date: September 2023

Pages: 220+

Category: North America

Report Snapshot

CAGR: 4.3%
459.5M
2022
479.3M
2023
700M
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: North America
Largest Market: North America

Major Players

  • ExxonMobil Corporation
  • Chevron Corporation
  • Royal Dutch Shell PLC
  • Phillips 66 Company
  • Petro-Canada (Suncor Energy Inc.)
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global North America White Oil Market is expected to grow with a CAGR of 4.3% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 459.5 million. By 2032, the valuation is anticipated to reach USD 700 million.

The North America white oil market refers to the industry that encompasses a wide range of white oil products used in sectors such as plastics, pharmaceuticals, personal care, cosmetics, and food. This market is witnessing notable trends characterized by consistent growth and increasing demand for high-quality white oil products. Factors driving this growth include stringent safety regulations, a focus on product innovation, and advancements in technology.

Moreover, an increasing inclination towards environmentally friendly and sustainable white oil alternatives is observed. Market players, including ExxonMobil, Chevron, Royal Dutch Shell, Phillips 66, and Calumet Specialty Products Partners, are strategically leveraging these emerging patterns to enhance their market influence and meet the growing customer requirements.

North America White Oil Market – Significant Growth Factors

The North America white oil market presents significant growth opportunities due to several factors:

  • Increasing demand for eco-friendly products: There is a surging consumer and industry demand for environmentally conscious and sustainable white oil products, driven by a growing awareness of environmental impact and a preference for greener alternatives.
  • Advancements in product formulations: Manufacturers are heavily investing in research and development activities to create advanced white oil formulations that offer enhanced performance, improved functionality, and better compatibility with the evolving needs of various industries.
  • Shift towards higher purity grades: The market is witnessing a notable shift towards the adoption of higher purity grades of white oil, propelled by the need for products that meet stringent quality standards and regulatory requirements, particularly in sectors such as pharmaceuticals and food processing.
  • Growing applications in the personal care and cosmetics industry: White oil is experiencing a rising demand in the personal care and cosmetics industry, as it finds applications as an ingredient in various skincare, haircare, and cosmetic products, owing to its exceptional emollient properties and compatibility with diverse formulations.
  • Increasing emphasis on product safety and regulatory compliance: The white oil market is placing a heightened focus on maintaining strict product safety standards and ensuring compliance with regulatory guidelines, especially considering the pandemic. Manufacturers are implementing stringent measures, including enhanced testing protocols and adherence to health regulations, to ensure the safety of their white oil products.
  • Technological advancements in manufacturing processes: Market players are leveraging technological advancements to improve manufacturing processes, enhancing efficiency, reducing production costs, and elevating the overall quality of white oil products through optimized production methods, advanced equipment, and automation. Innovations such as continuous manufacturing, digitalization, and process improvements contribute to enhanced product quality and cost-effectiveness.

North America white oil Market – Mergers and Acquisitions

The North America white oil market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the North America white oil market include:

  • ExxonMobil’s acquired InterOil Corporation: In 2017, ExxonMobil acquired InterOil Corporation, this acquisition expanded ExxonMobil’s presence in the white oil market and strengthened its position in the region. The company is involved in the exploration and production of oil and gas, including white oil products.
  • Chevron’s acquire Noble Energy: In 2020, Chevron acquired Noble Energy, this acquisition allowed Chevron to enhance its product offerings, including white oil products, and consolidate its operations in North America. An independent energy company engaged in various aspects of the oil and gas industry.
  • ExxonMobil’s Partnership with SABIC: In 2018, ExxonMobil entered a partnership with Saudi Basic Industries Corporation (SABIC), a global leader in diversified chemicals. The partnership has been done to jointly evolve a petrochemical complex on the U.S. Gulf Coast, which contributes to the production and distribution of white oil products.
  • Royal Dutch Shell’s Acquisition of Repsol’s LPG Business: In 2014, Royal Dutch Shell acquired Repsol’s liquefied petroleum gas (LPG) business in North America. While LPG is not directly white oil, this acquisition allowed Shell to strengthen its presence in the North American market and further leverage its downstream capabilities.
  • Sunoco acquired Vitol’s Midstream Assets: In 2016, Sunoco LP, a leading fuel distributor, completed the acquisition of midstream assets from Vitol Group. Although not specific to white oil, this acquisition provided Sunoco with additional infrastructure and logistical capabilities, supporting its overall operations in the North American petroleum market.
  • HollyFrontier’s acquire Sonneborn US Holdings: In 2013, HollyFrontier Corporation, an independent petroleum refiner, acquired Sonneborn US Holdings Inc., Sonneborn is a manufacturer and supplier of white oils, petrolatums, and other specialty hydrocarbon products. This acquisition expanded HollyFrontier’s product offerings and strengthened its position in the white oil market.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the North America white oil market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

North America white oil Market White Oil Market Smart Hydraulics Fluid Market
CAGR 4.3% (Approx) CAGR 4.8% (Approx) CAGR 5.6% (Approx)
USD 700 Million by 2032 USD 3.8 Billion by 2030 USD 6.5 Billion by 2032

North America white oil Market – Significant Threats

The North America white oil market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

  • Stringent Regulatory Environment: The North America white oil market encounters challenges due to stringent government regulations, encompassing complex approval processes, safety standards, and environmental regulations. These requirements impact the manufacturing, distribution, and utilization of white oil products.
  • Volatility in Raw Material Prices: Fluctuations in the prices of raw materials, such as crude oil and natural gas, directly affect the production costs of white oil. Price volatility can pose challenges for manufacturers in managing their costs and pricing strategies, impacting the profitability of the white oil market.
  • Competition from Substitutes: The white oil market faces competition from alternative products and substitutes in various industries. For example, bio-based oils, silicone-based oils, and other specialty oils may offer comparable or even superior properties for specific applications, posing a challenge to the market share of white oil products.
  • Economic Uncertainty: Economic fluctuations, recessions, and market downturns can impact consumer spending patterns and industry investments. Uncertain economic conditions can lead to reduced demand for white oil products in various end-use sectors, affecting the overall market growth and profitability.
  • Environmental Concerns: While white oil products are widely used, concerns regarding their environmental impact, particularly in terms of biodegradability and disposal, can restrain market growth. Increasing focus on sustainable and eco-friendly alternatives may lead to a shift in consumer preferences and purchasing decisions, posing a challenge to the traditional white oil market.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 479.3 Million
Projected Market Size in 2032 USD 700 Million
Market Size in 2022 USD 459.5 Million
CAGR Growth Rate 4.3% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Grade, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Grade:

  • Food: In food-grade white oil is a highly refined and purified mineral oil that is colourless, odourless, and tasteless, which ensures the oil doesn’t impart any unwanted characteristics to food products. There is an increasing demand for food-grade white oil in the food industry. Food manufacturers and consumers attach the greatest importance to the use of quality and safe ingredients by making white oils specially designed for food use. This trend is driving companies to invest in research and development to comply with food safety regulations and sustainable practices.
  • Pharmaceuticals: In the North America white oil market, pharmaceuticals include drugs and medicinal products used for the treatment, or management of diseases and any medical conditions. In the North America white oil market, there is a growing demand for incorporating white oil in pharmaceutical formulations due to its desirable properties such as lubrication, purity, and stability. White oil is used in various pharmaceutical products, including creams, ointments, lotions, and oral medications, which surges the market demand for white oil in the pharmaceuticals segment.
  • Technical: In technical grade, white oil refers to a highly refined mineral oil used for its performance and purity characteristics. In the North America white oil market, there is a growing demand for white oil in technical sectors which includes lubricants, coatings, adhesives, and polymers. White oil’s low volatility, high stability, and excellent lubrication properties make it a sought-after ingredient, contributing to its increasing adoption and market growth in technical applications across North America.

By Application:

  • Plastics & Polymer: In the North America white oil market, there is a notable trend of using white oil as a crucial additive and processing aid in the production of plastics and polymers. White oil enhances the flow properties, lubrication, and stability of polymer formulations, resulting in improved processability, mold release, and end-product quality. This trend showcases the importance of white oil in optimizing the performance and processing efficiency of plastics and polymers in the North American market.
  • Pharmaceuticals: The pharmaceutical segment refers to the use of white oil in the formation and manufacture of pharmaceutical products and medicinal preparations. White oil is widely used in medicine, such as creams, lotions, creams, and oral medications. North America labelling trends for white oils show that white oils are preferred because of their purity, stability, and compatibility with chemical components.
  • Personal Care and Cosmetics: White oil is a versatile ingredient in personal care and cosmetics, appearing in a variety of products such as lotions, face creams, moisturizers, sunscreens, lip balms, and lotions. It acts as a lubricant, emollient, and humectant to soften, moisturize, and protect the skin. Due to its high purity, non-comedogenicity, and compatibility with many models, white oil is increasingly being used in personal care and cosmetics in the North America white oil market. It offers benefits like improved texture, enhanced product stability, and a non-greasy feel, driving its increasing popularity and market demand in the region.
  • Food Industry: In the food industry, white oil is utilized as a food-grade lubricant and release agent. It serves various purposes such as preventing food products from sticking to equipment during processing, enhancing the flow of ingredients, and providing a protective barrier. Moreover, there is a trend in increasing focus on food quality, hygiene, and the need for efficient production processes in the North American food industry, which surge the market demand for white oil in food processing and packaging due to its purity, odor-lessness, and compliance with food safety regulations.
  • Others: The other segment includes textiles, agriculture, and pest control. Textiles represent an application where white oil is used as a lubricant for yarn and fiber processing to improve smoothness and efficiency. In agriculture and pest control, white oil is employed as a horticultural spray oil for pest management, suffocating, and controlling insects. The trend in North America showcases increased adoption of white oil in textiles for enhanced processing, as well as in agriculture for sustainable and eco-friendly pest control solutions.

North America White Oil Market 2023–2032 (By Million)

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North America white oil Market – Country Analysis

The North America white oil market is segmented into various countries, including the US, Canada and the Rest of North America. Here is a brief overview of each country:

  • US: The United States white oil market is experiencing a steady growth in demand from the plastics and polymers industry, driven by the increasing consumption of plastic-based products and packaging materials. This trend is fuelled by the dominance of major manufacturers such as ExxonMobil, Chevron, and Phillips 66, who offer a wide range of white oil products tailored for plastic.
  • Canada: In Canada, there is an increasing emphasis on sustainable and eco-friendly white oil solutions. Manufacturers, including Imperial Oil and Parkland Corporation, are actively promoting, and developing environmentally conscious white oil products to align with the country’s sustainability goals and cater to the rising demand for greener alternatives. Major manufacturers like Suncor Energy and Irving Oil are investing in research and development to produce high-quality white oil products that meet the stringent regulatory standards of the pharmaceutical industry.
  • Rest of North America: The rest of North America white oil market is witnessing an increasing demand in the food industry, where white oil finds applications in food processing, lubrication, and packaging. Dominating manufacturers in this region, such as HollyFrontier Corporation and Calumet Specialty Products Partners, are catering to this demand by offering food-grade white oil products that meet strict safety and quality standards.

North America White Oil Market 2023–2032 (By Grade)

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Competitive Landscape – North America white oil Market

The North America white oil market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

  • ExxonMobil Corporation
  • Chevron Corporation
  • Royal Dutch Shell PLC
  • Phillips 66 Company
  • Petro-Canada (Suncor Energy Inc.)
  • Calumet Specialty Products Partners L.P.
  • Nynas AB
  • Sonneborn LLC
  • Sasol Limited
  • Renkert Oil Inc.
  • Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships. For example, in 2022, Calumet announced the construction of a new state-of-the-art white oil manufacturing facility in the United States. This development showcased the company’s commitment to meeting the growing demand for white oil products and enhancing its production capabilities.

The new facility incorporated advanced technologies and processes to ensure high-quality white oil production, further strengthening Calumet’s position as a leading manufacturer in the North America white oil market.

The market is also witnessing the entry of several new players, through innovative product offerings and market strategies. For example, Innovative Solutions Inc. is introducing a ground-breaking technology that enables the production of highly pure and low-viscosity white oil and EcoTech Industries focuses on eco-friendly white oil alternatives made from renewable sources.

Meanwhile, established players like ExxonMobil are investing heavily in research and development to improve the performance and efficiency of their white oil products and expand their market share. Their innovative efforts include developing specialized formulations for specific applications, such as high-temperature industrial processes and advanced automotive lubricants.

The North America White Oil Market is segmented as follows:

By Grade

  • Food
  • Pharmaceutical

By Application

  • Plastics & Polymer
  • Pharmaceuticals
  • Personal Care & Cosmetics
  • Food Industry
  • Others
Regional Coverage:
  • US
  • Canada
  • Rest of North America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 North America White Oil Market, (2024 – 2033) (USD Million)
    • 2.2 North America White Oil Market: snapshot
  • Chapter 3. North America White Oil Market – Industry Analysis
    • 3.1 North America White Oil Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing demand for eco-friendly products
      • 3.2.2 Advancements in Product Formulations
      • 3.2.3 Shift towards Higher Purity Grades
      • 3.2.4 Growing applications in the personal care and cosmetics industry
      • 3.2.5 Increasing emphasis on product safety and regulatory compliance
      • 3.2.6 Technological advancements in manufacturing processes.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Grade
      • 3.7.2 Market Attractiveness Analysis By Application
  • Chapter 4. North America White Oil Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 North America White Oil Market: Company Market Share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaboration, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. North America White Oil Market – Grade Analysis
    • 5.1 North America White Oil Market Overview: By Grade
      • 5.1.1 North America White Oil Market Share, By Grade, 2022 and – 2033
    • 5.2 Food
      • 5.2.1 North America White Oil Market by Food, 2024 – 2033 (USD Million)
    • 5.3 Pharmaceutical
      • 5.3.1 North America White Oil Market by Pharmaceutical, 2024 – 2033 (USD Million)
  • Chapter 6. North America White Oil Market – Application Analysis
    • 6.1 North America White Oil Market Overview: By Application
      • 6.1.1 North America White Oil Market Share, By Application, 2022 and – 2033
    • 6.2 Plastics & Polymer
      • 6.2.1 North America White Oil Market by Plastics & Polymer, 2024 – 2033 (USD Million)
    • 6.3 Pharmaceuticals
      • 6.3.1 North America White Oil Market by Pharmaceuticals, 2024 – 2033 (USD Million)
    • 6.4 Personal Care & Cosmetics
      • 6.4.1 North America White Oil Market by Personal Care & Cosmetics, 2024 – 2033 (USD Million)
    • 6.5 Food Industry
      • 6.5.1 North America White Oil Market by Food Industry, 2024 – 2033 (USD Million)
    • 6.6 Others
      • 6.6.1 North America White Oil Market by Others, 2024 – 2033 (USD Million)
  • Chapter 7. North America White Oil Market – Regional Analysis
    • 7.1 North America White Oil Market Regional Overview
    • 7.2 North America White Oil Market Share, by Region, 2022 & – 2033 (USD Million)
    • 7.3. North America
      • 7.3.1 North America White Oil Market, 2024 – 2033 (USD Million)
        • 7.3.1.1 North America White Oil Market, by Country, 2024 – 2033 (USD Million)
    • 7.4 North America White Oil Market, by Grade, 2024 – 2033
      • 7.4.1 North America White Oil Market, by Grade, 2024 – 2033 (USD Million)
    • 7.5 North America White Oil Market, by Application, 2024 – 2033
      • 7.5.1 North America White Oil Market, by Application, 2024 – 2033 (USD Million)
  • Chapter 8. Company Profiles
    • 8.1 ExxonMobil Corporation
      • 8.1.1 Overview
      • 8.1.2 Financials
      • 8.1.3 Product Portfolio
      • 8.1.4 Business Strategy
      • 8.1.5 Recent Developments
    • 8.2 Chevron Corporation
      • 8.2.1 Overview
      • 8.2.2 Financials
      • 8.2.3 Product Portfolio
      • 8.2.4 Business Strategy
      • 8.2.5 Recent Developments
    • 8.3 Royal Dutch Shell PLC
      • 8.3.1 Overview
      • 8.3.2 Financials
      • 8.3.3 Product Portfolio
      • 8.3.4 Business Strategy
      • 8.3.5 Recent Developments
    • 8.4 Phillips 66 Company
      • 8.4.1 Overview
      • 8.4.2 Financials
      • 8.4.3 Product Portfolio
      • 8.4.4 Business Strategy
      • 8.4.5 Recent Developments
    • 8.5 Petro-Canada (Suncor Energy Inc.)
      • 8.5.1 Overview
      • 8.5.2 Financials
      • 8.5.3 Product Portfolio
      • 8.5.4 Business Strategy
      • 8.5.5 Recent Developments
    • 8.6 Calumet Specialty Products Partners L.P.
      • 8.6.1 Overview
      • 8.6.2 Financials
      • 8.6.3 Product Portfolio
      • 8.6.4 Business Strategy
      • 8.6.5 Recent Developments
    • 8.7 Nynas AB
      • 8.7.1 Overview
      • 8.7.2 Financials
      • 8.7.3 Product Portfolio
      • 8.7.4 Business Strategy
      • 8.7.5 Recent Developments
    • 8.8 Sonneborn LLC
      • 8.8.1 Overview
      • 8.8.2 Financials
      • 8.8.3 Product Portfolio
      • 8.8.4 Business Strategy
      • 8.8.5 Recent Developments
    • 8.9 Sasol Limited
      • 8.9.1 Overview
      • 8.9.2 Financials
      • 8.9.3 Product Portfolio
      • 8.9.4 Business Strategy
      • 8.9.5 Recent Developments
    • 8.10 Renkert Oil Inc.
      • 8.10.1 Overview
      • 8.10.2 Financials
      • 8.10.3 Product Portfolio
      • 8.10.4 Business Strategy
      • 8.10.5 Recent Developments
    • 8.11 Others.
      • 8.11.1 Overview
      • 8.11.2 Financials
      • 8.11.3 Product Portfolio
      • 8.11.4 Business Strategy
      • 8.11.5 Recent Developments
List Of Figures

Figures No 1 to 17

List Of Tables

Tables No 1 to 4

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Player

  • ExxonMobil Corporation
  • Chevron Corporation
  • Royal Dutch Shell PLC
  • Phillips 66 Company
  • Petro-Canada (Suncor Energy Inc.)
  • Calumet Specialty Products Partners L.P.
  • Nynas AB
  • Sonneborn LLC
  • Sasol Limited
  • Renkert Oil Inc.
  • Others

FAQs

The key factors driving the Market are Increasing demand for eco-friendly products, Advancements in product formulations, Shift towards higher purity grades, Growing applications in the personal care and cosmetics industry, Increasing emphasis on product safety and regulatory compliance And Technological advancements in manufacturing processes.

The key players in the market are ExxonMobil Corporation, Chevron Corporation, Royal Dutch Shell PLC, Phillips 66 Company, Petro-Canada (Suncor Energy Inc.), Calumet Specialty Products Partners L.P., Nynas AB, Sonneborn LLC, Sasol Limited, Renkert Oil Inc. , Others.

The market is projected to grow at a CAGR of 4.3% during the forecast period, 2023-2032.

The North America White Oil Market size was valued at USD 459.5 Million in 2022.

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