In H1’23, white oil prices fluctuated across different regions. In Asia, prices initially dropped due to weak demand from cosmetics and related industries, alongside declining freight charges and global inflation rates. The market showed a slight improvement in mid-Q1 but declined again due to lack of support from the crude oil sector and downstream industries. Similarly, Europe’s market remained volatile, supported initially by rising crude oil prices and high downstream orders but dropped later due to reduced demand from end-sector industries and lower natural gas prices. North America experienced a decline in prices initially, driven by inflation and slow economic movement, but stabilized later due to supply-demand equilibrium.
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Definition
White oil, also known as mineral oil or liquid paraffin, is a colorless, odorless, and tasteless oil derived from petroleum. It consists of saturated aliphatic hydrocarbons, making it chemically stable and non-reactive. White oil is commonly used in pharmaceuticals, cosmetics, food processing, and various industrial applications. Its properties, including non-comedogenicity and low toxicity, make it suitable for products such as ointments, lotions, lubricants, and food-grade applications.
Key Details About the White Oil Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on white oil in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The white oil price chart, including India white oil price, USA white oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the White Oil Price Trend:
White oil finds a variety of industrial uses due to its excellent properties and versatility. In the pharmaceutical industry, it is used as a base for ointments, creams, and lotions, as well as in laxatives and other medicinal formulations. In cosmetics, white oil is employed in skincare products such as lotions, moisturizers, and baby oils due to its non-comedogenic and non-irritating characteristics. In the food industry, it acts as a lubricant and release agent for food processing equipment. White oil is also used in the textile industry as a lubricant and in various industrial applications as a lubricant, plasticizer, and processing aid.
Key Players:
- British Petroleum
- Renkert Oil, Inc
- Exxon Mobil Corporation
- JX Nippon Oil and Energy Corporation
- Royal-Dutch Shell N.V.
- Sinopec Corporation
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