The latest report by IMARC Group, titled “White Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of the White Oil Prices. This report delves into the Price of White Oil globally, presenting a detailed analysis, along with an informative Price Chart. Through comprehensive White Oil Price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Demand, analyzing how it impacts market dynamics. To aid in strategic planning, the Price Forecast section provides insights into price forecast, making this Price report an invaluable resource for industry stakeholders.
White Oil Prices December 2023:
- China: 1148 USD/MT (White Oil Technical Grade)
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The study delves into the factors affecting White Oil price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Key Highlights of the White Oil Price Trend- Last Quarter
The expanding cosmetics and personal care industry is driving the demand for white oil. This is primarily attributed to the moisturizing properties and suitability for sensitive skin which is fueling the market growth. The rising consumer awareness of skin care and personal hygiene further boosts this demand. White oil is used across multiple industries, including cosmetics, pharmaceuticals, plastics, and food processing. Its odorless, colorless, and non-toxic properties make it ideal for personal care products like lotions and baby oils, as well as pharmaceuticals for ointments and laxatives. White oil is utilized as a plasticizer and lubricant in the production of polymers, enhancing the flexibility and durability of plastic products. The growth of the plastics industry, particularly in emerging markets, propels the white oil market. In the food industry, white oil is used as a lubricant for food-processing machinery and as a release agent in baking and confectionery, adhering to strict food safety standards. Improvements in refining processes have enhanced the quality and purity of white oil, expanding its application scope and market acceptance. Stringent regulations and quality standards, particularly in pharmaceuticals and food processing, ensure high demand for white oil that meets safety criteria.
Factors Influencing White Oil Price Analysis – Last Quarter
In North America
The white oil market overall witnessed a stable situation during the opening quarter of 2024. With weather conditions being challenging and logistical and transportation costs experiencing a hike, this translated into the prices of white oil. Moreover, demand for the product was also recorded to be strong as North America witnessed an early and heavy winter season which led to a strong demand from the downstream cosmetic industry. Moreover, the festive New Year season also forecasted positive transactions in the downstream skincare sector. Prices of white oil experiencing a hike were also attributed to the expensive imports arriving at the North American market due to disruptions being recorded in key waterways, namely the Suez and Panama Canal, which prompted freight charges to almost double.
In Asia
The white oil market witnessed an overall bearish trend as prices of the product slumped. The continued slump in the prices of the product was attributed to the low demand from the downstream lubrication industry as manufacturing activities continued to remain in contraction in China and improved only during March 2024. Automotive sales even though witnessed a surge in January 2024, later depreciated overall as the post-festive dullness continued to prevail across the Chinese market. Moreover, the demand from the construction sector was also recorded to be low as housing starts and house prices continued to decline throughout this quarter, leading to pushback of the construction materials.
In Europe
In Europe, the white oil market was recorded to be largely stable despite prices of crude oil increasing during the termination of the first quarter of 2024. The low demand from the downstream paints and coating sector continued to drive the European white oil market as the construction sector continued to remain mired in the downturn. This is largely indicated by declining permits and construction projects. Overall real estate firms remained downbeat throughout the rest year with outlook conditions being largely pessimistic. Overall investment sentiments remained historically negative with contractions witnessed in all segments of the construction sector, namely residential, commercial building, and civil engineering activities. However, during the middle of the first quarter, the European Polyurethane market received support from the demand side due to improvements in the demand from the importing British, Dutch, and Belgian markets where the construction sector improved.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, 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
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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