White Oil Market Report 2026

The white oil market size has grown strongly in recent years. It will grow from $2.52 billion in 2025 to $2.67 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growth of pharmaceutical manufacturing, expansion of personal care industry, demand for high purity mineral oils, growth of food processing sector, availability of petroleum refining infrastructure.

The white oil market size is expected to see strong growth in the next few years. It will grow to $3.3 billion in 2030 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing regulatory focus on purity standards, growth of cosmetic and skincare products, expansion of medical applications, demand for specialty lubricants, rising use in flexible packaging. Major trends in the forecast period include rising demand for pharmaceutical grade white oil, growing use in cosmetics and personal care products, expansion of food grade lubricant applications, increasing preference for odorless and colorless base oils, higher adoption in polymer and plastic processing.

The increasing demand for safe beauty and personal care products is expected to drive the growth of the white oil market in the coming years. These products are formulated without harmful chemicals or toxic ingredients, aiming to minimize health risks and allergic reactions. The growing consumer awareness of the potential dangers linked to certain ingredients is fueling the preference for safer alternatives. White oil plays a key role in such formulations due to its high purity and chemical stability, making it ideal for sensitive skin applications. It enhances product effectiveness by functioning as a gentle emollient and moisturizer, offering both safety and performance. For example, in September 2024, the Bureau of Labor Statistics, a U.S.-based government agency, reported that consumer spending on personal care products and services rose to $950 in 2023, marking a 9.7% increase from $866 in 2022. Thus, the rising demand for safe beauty and personal care products is contributing significantly to the expansion of the white oil market.

Leading companies in the white oil market are investing in cutting-edge technologies such as advanced hydroprocessing to improve product purity and operational efficiency. Hydroprocessing involves chemical refining processes that utilize hydrogen to eliminate impurities like sulfur, nitrogen, and metals from petroleum fractions while enhancing the quality of finished products. For instance, in February 2024, Chevron Lummus Global LLC, a U.S.-based chemical technology firm launched a new white oil processing unit in China. This facility employs state-of-the-art hydroprocessing techniques, including Isodewaxing and Isofinishing, to produce both industrial-grade and food-grade white oils with enhanced purity and performance.

In July 2025, Royal Dutch Shell plc, a Netherlands-based energy and petrochemicals company, acquired Raj Petro Specialities Pvt. Ltd. for an undisclosed amount. Through this acquisition, Royal Dutch Shell plc intends to reinforce its lubricants portfolio and broaden its presence in the Indian automotive and industrial lubricants market by integrating Raj Petro Specialities’ established product range and distribution network. Raj Petro Specialities Pvt. Ltd. is an India-based manufacturing company that specializes in the production of automotive and industrial lubricants, including engine oils, greases, and specialty fluids.

Major companies operating in the white oil market are ExxonMobil Corporation, Shell plc, Chevron Corporation, TotalEnergies SE, ENEOS Corporation, Idemitsu Kosan Co. Ltd., Sinopec Corporation, PetroChina Company Limited, Reliance Industries Limited, Bharat Petroleum Corporation Limited, HF Sinclair Corporation, Sasol Limited, Calumet Specialty Products Partners, H&R Group, FUCHS PETROLUB SE, Apar Industries Ltd., Savita Oil Technologies Limited, Nynas AB, Gandhar Oil Refinery (India) Limited, Renkert Oil Inc., Columbia Petro Chem Pvt. Ltd., Petrobras, LUKOIL PJSC, SK Innovation Co., Ltd.

North America was the largest region in the white oil market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the white oil market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the white oil market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The white oil market consists of sales of polystyrene processing oils, adhesive-grade white oils, lubricant base oils, and coating and ink oils. 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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