The white oil market is highly driven by rise in demand for petrochemicals and refined oil products. Demand for white oil for miscellaneous purposes is likely to generate more revenue in the market. It also has an industrial significance for chemical process and formulations. It is widely used in the manufacture of elastomers and adhesives owing to moisture-resistant and waste properties. However, fluctuation in oil price and political instability in certain countries are likely to hamper the market growth in the forecast period.
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Geographical segmentation for white oil market includes North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are expected to dominate the market in the forecast period owing to rise in use of medicine, cosmetics, thermoplastics and textiles. North American and European market has witnessed an upper hand due to change in lifestyle and widespread awareness pertaining to use of white oil. Middle Eastern and African markets are likely to gain a significant CAGR in the forecast period due to production of specialty chemicals and polymers in the region.
The key players in the wheat oil market include General Nutrition Centers, Inc., CONNOILS LLC, VIOBIN USA, Swanson Health Products, Grupo Plimon, Viobin, Agroselprom, NOW Foods, Inlife Pharma Pvt. Ltd., Country Life LLC, NutriPlex Formulas, Inc., CONNOILS, Arista, Henan kun Hua Technology, Kanta Enterprises Ltd, Hebei Jiafeng Plant oils, Navchetna Kendra, Zonghoo, Anyang Jingsen, Henan Yuanquan, KUNHUA BIOLOGICAL TECHNOLOGY CO., LTD, Henan Ingredients Group Co, Ltd, and GNLD International LTD.
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