Petroleum Jelly Global Market Report 2025

The petroleum jelly market size has grown steadily in recent years. It will grow from $1.37 billion in 2024 to $1.43 billion in 2025 at a compound annual growth rate (CAGR) of 4%. The growth in the historic period can be attributed to industrial applications, medical and pharmaceutical uses, cosmetics industry growth, consumer awareness and preferences, regulatory environment.

The petroleum jelly market size is expected to see steady growth in the next few years. It will grow to $1.73 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to regulatory environment, sustainable and eco-friendly products, health and wellness trends, shift towards natural and organic products, global pandemic impact. Major trends in the forecast period include technological advancements, digital marketing and e-commerce, innovation and product development, growing demand for skincare products, innovative product formulations.

The forecast of 4.9% growth over the next five years reflects a slight reduction of 0.2% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US by increasing prices for pharmaceutical and cosmetic products, with key supplies from Venezuela and Russia facing logistical and trade barriers. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.

The anticipated surge in demand for cosmetic procedures is poised to drive the growth of the petroleum jelly market. Cosmetic procedures encompass medical or non-medical interventions aimed at enhancing or altering an individual's appearance for aesthetic purposes. Petroleum jelly, renowned for its versatility, is frequently employed in cosmetic procedures. It is used to provide a thin coating on the surgical site before cosmetic surgery and to treat scars post-surgery. As an illustration, a report from the British Association of Aesthetic Plastic Surgeons disclosed that in 2022, the UK witnessed a 102% increase in cosmetic procedures, totaling around 31,057 procedures, as compared to 2021. This surge in cosmetic procedures is a key factor propelling the growth of the petroleum jelly market.

The growing demand from the pharmaceutical industry is anticipated to drive the growth of the petroleum jelly market in the coming years. The pharmaceutical industry encompasses the development, research, and manufacturing of pharmaceutical products, involving extensive investigation, compound development, government regulation, and industry participation. Petroleum jelly is utilized in the pharmaceutical sector for the production of various creams, ointments, and lotions, serving as a skin protector and moisturizer in numerous pharmaceutical products. For example, in September 2024, statistics published by Cross River Therapy, a US-based provider of ABA therapy services, indicated that the U.S. pharmaceutical industry generated $550 billion in revenue, with Americans spending $576.9 billion on medicine in 2021. Projected spending is expected to rise to between $605 and $635 billion by 2025. Therefore, the increasing demand from the pharmaceutical industry is propelling the petroleum jelly market.

Leading companies in the petroleum jelly market are concentrating on creating innovative products, such as petroleum jelly infused with vitamin E, to offer dependable services to their customers. Petroleum jelly with vitamin E is a specialized formulation that enhances skin protection against damage from free radicals. For example, in September 2023, Vaseline, a body care brand under Unilever Plc, a UK-based consumer goods company, introduced Vaseline Radiant X, a new body care line featuring premium skincare ingredients typically reserved for facial products. This line is designed to cater to the unique needs of Black and Brown skin, addressing issues such as moisture imbalance, dark spots, and uneven skin tone.

Petroleum jelly is a semi-solid mixture of hydrocarbons derived from petroleum, a naturally occurring substance found in the Earth's crust. Its smooth and slippery texture makes it effective in forming a protective barrier, and it is commonly used in various applications. Petroleum jelly is utilized in personal care products as a moisturizing agent, in medicinal ointments, and for lubrication purposes.

The main types of products in the petroleum jelly market include white petroleum jelly, yellow petroleum jelly, and others. White petrolatum jelly is a refined blend of semi-solid hydrocarbons sourced from petroleum jelly that undergoes a decolorizing process. It is available in pharmaceutical, cosmetic, and industrial grades, catering to diverse end-user industries such as pharmaceuticals, cosmetics and personal care, shipping, leather, telecommunications, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The escalating U.S. tariffs and rising trade tensions in spring 2025 are expected to significantly affect the chemicals sector, which is facing a disproportionate impact - particularly from tariffs on petrochemicals and intermediates, where affordable domestic alternatives are limited. Specialty chemical producers, who rely heavily on Chinese raw materials, are encountering production disruptions. Meanwhile, fertilizer manufacturers are seeing their profit margins squeezed due to tariffs on phosphate imports. In response, companies are increasing investments in R&D for bio-based alternatives, forming procurement alliances to strengthen purchasing power, and relocating production to tariff-neutral countries like Saudi Arabia.

The petroleum jelly market research report is one of a series of new reports that provides petroleum jelly market statistics, including petroleum jelly industry global market size, regional shares, competitors with a petroleum jelly market share, detailed petroleum jelly market segments, market trends and opportunities, and any further data you may need to thrive in the petroleum jelly industry. This petroleum jelly market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

In July 2024, Texol Lubritech FZC, a UAE-based manufacturer of industrial lubricants and related products and a subsidiary of Gandhar Oil Refinery India, secured a major contract with Abu Dhabi National Oil Company (ADNOC) PJSC. This contract encompasses the production, packaging, labeling, and supply of various products to ADNOC Distribution, representing a significant milestone in Texol Lubritech's growth strategy within the region. Abu Dhabi National Oil Company (ADNOC) PJSC is a state-owned energy company based in the UAE, specializing in the production of oil, gas, and petrochemicals.

Major companies operating in the petroleum jelly market report are Exxon Mobil Corporation, Shell Inc., Petróleo Brasileiro S.A., PJSC LUKOIL, Repsol S.A., Unilever PLC, Sasol Wax Group, Teva Pharmaceuticals Inc., H&R Group, Sonneborn LLC, Nippon Seiro Co. Ltd., Bliss GVS Pharma Ltd., Polwax SA, Calumet Specialty Products Partners LP, Blistex Inc., Eastern Petroleum Pvt. Ltd., Raj Petro Specialities Pvt. Ltd., Sovereign Chemicals & Cosmetics, Kerax Limited, Vasa Cosmetics Private Limited, Persia Paraffin, Unisynth Group, ShimiTaghtiran Company, Unicorn Petroleum Industries Pvt Ltd., KK India Petroleum Specialities Pvt. Ltd., Nexton Lubricants.

North America was the largest region in the petroleum jelly market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the petroleum jelly market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the petroleum jelly market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The petroleum jelly market consists of sales of cosmetic formulations, lip balms, skin lotions and creams, diaper rash Creams, healing ointments, makeup removers, hair products, and barrier creams. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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