The Latin America, Middle East and Africa White Oil Market would witness market growth of 6.2% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 134.41 kilo tonnes, showcasing a growth of 3.8% (2024-2031).
Medium-grade white oil finds application in the cosmetics industry as a base ingredient in creams, lotions, and ointments, offering emollient properties and enhancing skin feel. Thus, Brazil market consumed 18.21 kilo tonnes of white oil by technical grade in 2023.
The Brazil market dominated the LAMEA White Oil Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $47.8 Million by 2031, Argentina market is registering a CAGR of 6.8% during (2024 - 2031). Additionally, The UAE market would showcase CAGR of 5.8% during (2024 - 2031).
The white oil market is a testament to versatility, innovation, and resilience in today’s global economy. As a vital component in numerous industries, ranging from pharmaceuticals to cosmetics, plastics to textiles, white oil is indispensable in product formulation, manufacturing processes, and end-user applications.
Additionally, the adoption of white oil spans decades and is rooted in its exceptional purity, consistency, and inert properties. Initially derived as a byproduct of petroleum refining, white oil gained prominence for its remarkable versatility and safety profile, positioning it as a preferred ingredient across various industries.
Brazil is a significant player in the global food trade, exporting a wide range of agricultural products. As the country’s food sector expands, it may also lead to increased imports of ingredients and materials like white oil to meet the needs of food processing and packaging industries. As per the data released by the United States Department of Agriculture, the Brazilian food processing sector generated revenues of R$922.6 billion (US$171 billion) in 2021, an increase of 16.9 percent compared to 2020, as reported by the Brazilian Food Processors’ Association (ABIA).
Free Valuable Insights: The Worldwide White Oil Market is Projected to reach USD 2.2 Billion by 2031, at a CAGR of 4.6%
Based on Grade, the market is segmented into Technical and Pharmaceutical. Based on Application, the market is segmented into Cosmetics & Personal Care, Food, Pharmaceutical, Plastic & Polymer, Textile, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Grade (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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