According to a new report, published by KBV research, The Global White Oil Market size is expected to reach $2.2 billion by 2031, rising at a market growth of 4.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,243.79 kilo tonnes, experiencing a growth of 16.9% (2020-2023).
The Technical segment is leading the Global White Oil Market by Grade in 2023; thereby, achieving a market value of $1.3 billion by 2031, growing at a CAGR of 4.2 % during the forecast period. As industries adopt new technologies, materials, and production techniques, the demand for specialized lubricants, release agents, and processing aids increases. White oil-based products are crucial in facilitating advanced manufacturing processes, such as precision machining, 3D printing, and semiconductor fabrication, were stringent performance requirements and precision engineering demand high-quality lubrication and surface treatment solutions.
The Food segment is registering a CAGR of 5.2% during (2024 - 2031). As the food sector expands, there is a need for efficient supply chains to transport raw materials, process food products, and distribute them to consumers. White oil, a key ingredient in food processing, is essential to these supply chains.
Full Report: https://www.kbvresearch.com/white-oil-market/
The Asia Pacific region dominated the Global White Oil Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,150.8 Million by 2031. The North America region is experiencing a CAGR of 4% during (2024 - 2031). Additionally, The Europe region would exhibit a CAGR of 4.2% during (2024 - 2031).
By Grade (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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