Global Petroleum Jelly Market growing at a CAGR of 4.9% from 2023 to 2030
Category : Materials And Chemicals | Published Date : Sep 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyses that the petroleum jelly market is predicted to grow at a compound annual growth rate of 4.9% from 2023 to 2030 and is expected to reach USD 723.65 million in 2030 which was valued at USD 498.00 million in 2022.
The report highlights the growing adoption of petroleum jelly across the cosmetic and personal care industry, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the petroleum jelly market.
Global Petroleum Jelly Market By Overview
The petroleum jelly market is classified into grade, type, application, and end-use industry. Based on grade, the market is segmented into industrial, medical, and cosmetic. In 2022, the cosmetic grade segment dominated the overall petroleum jelly market. The type segment is classified into white petroleum jelly, yellow petroleum jelly, and others. In 2022, the white petroleum jelly segment accounted for the highest market share in the petroleum jelly market. The application segment is categorized into cosmetic ingredient, creams & ointments, anti-rusting agent, plasticizer, food processing, and others. In 2022, the cosmetic ingredient segment dominated the overall petroleum jelly market. The end-use industry segment is divided into cosmetics & personal care, pharmaceutical, food & beverage, rubber & plastic, automotive, and others. In 2022, the cosmetics & personal care segment accounted for the highest market share in the petroleum jelly market.
Get Free SampleMarket Dynamics
Driver:
- The growing adoption of petroleum jelly across the cosmetic and personal care industry.
- Increasing demand for lubricants & greases driving the market growth.
Restraints:
- Rising prevalence of alternative products is restraining the market growth of petroleum jelly.
Market Segmentation:
| Report Attributes | Report Details |
| By Grade | Industrial, Medical, and Cosmetic |
| By Type | White Petroleum Jelly, Yellow Petroleum Jelly, and Others |
| By Application | Cosmetic Ingredient, Creams & Ointments, Anti-rusting Agent, Plasticizer, Food Processing, and Others |
| By End-use Industry | Cosmetics & Personal Care, Pharmaceutical, Food & Beverage, Rubber & Plastic, Automotive, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Sasol, Eastern Petroleum, and Unilever which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the petroleum jelly market is expected to witness substantial growth in the coming years due to the increasing adoption of the product as a corrosion inhibitor in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Sasol
- Eastern Petroleum
- LODHA Petro
- APAR Industries
- Sun Chem Private Limited
- Adinath Chemicals
- Unisynth Group
- Unilever
- Gandhar Oil Refinery (India) Limited.
- Repsol
- Lubricon
- Sonneborn LLC (part of HollyFrontier)
