Get the latest insights on price movement and trend analysis of White Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
White Oil Price Trend for the H1 of 2023
The prices of white oil fluctuated in the first and second quarters of 2023. Initially, the prices declined with the low demand from cosmetics and related industries. The decline in freight charges and rising global inflation rates also resulted in the decline in white oil prices. The market improved slightly in the middle of the first quarter but declined again as it had no support from the crude oil sector or demand from the downstream industries.
The European market remained volatile in the first and second quarters of 2023 for the prices of white oil. The market in the initial months of the first quarter was supported by rising crude oil prices and a high number of orders from the downstream sectors. But in the subsequent months of the first and second quarters, the trend dropped owing to sluggish demand from the end-sector industries and the lowering of natural gas prices forcing the manufacturers to decrease their production costs.
In the initial months of the first quarter, white oil prices declined in the North American region as they were affected by the rising pressure of inflation and the slow economic movement of the market. As a result, the demand from the end-user industries was also subdued, and freight charges saw a slump with the decrease in shipment activities. However, in the later months of the first quarter and throughout the second quarter, the price trend stabilized as the equilibrium between the supply-demand dynamics stabilized.
According to Procurement Resource, the price trend of white oil is estimated to showcase a mixed pattern owing to the uncertainties in the freight charges, crude oil prices, and demand from end-user industries.
Procurement Resource provides latest prices of White Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
White oil, commonly referred to as mineral oil or liquid paraffin, is an oil made from petroleum that has no flavour, smell, or color. Due to the presence of saturated aliphatic hydrocarbons, it is chemically inert. It is commonly used in pharmaceuticals, cosmetics, food processing, and a variety of other industries. Due to its qualities, which include non-comedogenicity and low toxicity, it can be used in food-grade items including lubricants, ointments, and lotions.
|Product Name||White Oil|
|Industrial Uses||Pharmaceutical production, Lubricants, Agriculture, Rubber and plastic industry, Adhesives and sealants|
|Synonyms||Liquid Paraffin, Mineral Oil|
|Supplier Database||British Petroleum, Renkert Oil, Inc, Exxon Mobil Corporation, JX Nippon Oil and Energy Corporation, Royal-Dutch Shell N.V., Sinopec Corporation|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The production of white oil involves blending paraffinic and naphthenic hydrocarbons, two petrochemical fluids, while upholding high purity criteria to ensure the highest quality of the finished product. The product is then produced by purifying and processing the chemical.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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