Allied Market Research

2024

Petrolatum Market

Petrolatum Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Grade and by End-User Industry : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Bulk Chemicals

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Author's: | Eswara Prasad
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Petrolatum is a semi-solid substance formed from the mixture of mineral oils and waxes. Petroleum jelly is also known as mineral jelly or petroleum jelly since it is made up of a mixture of mineral waxes and oils.

Petrolatum was discovered on an oil rig in 1859.It acts as a plasticizer for polypropylene and is also compatible with most other polymers. Petrolatum, which is made up of hydrocarbons, offers various advantages, including a high melting point, inflammability in its jelly state, resistance to oxidation when exposed to air, and insolubility in water. Petrolatum is widely employed in a variety of industrial applications due to its lubricating and coating qualities. Petrolatum natural properties make it excellent for use in a variety of industries, including telecommunications, telecommunications, cosmetics, pharmaceuticals, and shipping, to name a few. Furthermore, because of its healing characteristics, petrolatum is widely utilized in medical treatment of injuries and scars. In a similar vein, petrolatum is used to treat a variety of medical concerns including toenail fungus, nosebleeds, common colds, diaper rashes, non-STD genital rashes and among others.

COVID-19 Impact analysis

  • The petrolatum market was negatively affected due to the outbreak of COVID-19 pandemic.
  • The industries such as pharmaceutical, cosmetics & personal care, shipping, leather, telecommunications and others were shut down during the COVID-19 pandemic this decreases the demand for petrolatum.
  • The COVID-19 pandemic has caused the imposition of lockdown due to which the production of petrolatum decreased and the global supply chain was affected.
  • The petrolatum market faced downfall of revenue due to the COVID-19 pandemic.

Top Impacting Factors

In the near future, the global petrolatum market is likely to be driven by an increase in demand for pharmaceutical and cosmetic products. On dry and injured skin, petrolatum provides a sealing barrier that seals in moisture and aids in the skin's natural recovery process. Petrolatum is in high demand in the pharmaceutical and cosmetics industries as a result of this. Petrolatum is a great water repellent and anti-rust agent. It has no odor and is completely harmless. During the projected period, petrolatum’s qualities are expected to drive the market. Petrolatum is required in various industries, including marine, leather, telecommunications, and manufacturing, where rusting or water can cause severe damage to equipment and operations. As a result, the use of petrolatum aids these businesses in efficiently overcoming problems. Due to increased customer knowledge of natural products and increased purchasing power, one of the primary limitations of the global petrolatum market might be an increase in demand for natural pharmaceutical and cosmetic items around the world. Another market constraint could be the availability of natural-based petrolatum replacements.

Market Trends

  • The petrolatum market in the world was dominated by Asia Pacific. During the forecast period, the market in the area is likely to grow at a substantial rate, as countries like China, Japan, and India have strong demand for petrolatum -based medicinal and cosmetic goods
  • North America is expected to contribute significantly to the overall growth of the petrolatum market in the near future. The U.S., as one of the world's leading makers of pharmaceutical and cosmetic products, is predicted to dominate the North American petrolatum market throughout the forecast period.
  • During the projection period, the European market is expected to grow. France and Germany are the region's top cosmetics producers, and they are likely to dominate the European market during the projection period.
  • Product launches, acquisitions, and partnerships are among the leading players' growth tactics, all of which contribute to the global growth of the petrolatum market. Key players focusing on petrolatum d, on the other hand, use product launch as a growth strategy to expand their market share.
  • Canon Chemicals was purchased by Godrej Consumer Products Limited in 2019. Canon Chemicals, situated in Kenya, is a significant manufacturer and distributor of personal and home care goods. Valon is the company's most well-known petrolatum brand.
  • Holly Frontier Corporation purchased Sonneborn, a leading maker and distributor of petrolatum -based goods in the Netherlands, in February of this year.
  • In January 2018, Brenntag AG, a German-based international chemical distribution company, purchased a significant share in Raj Petro. Raj Petro is one of the world's largest producers of petrolatum.

Key Benefits of the Report

  • This study presents the analytical depiction of the petrolatum industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the petrolatum market share.
  • The current market is quantitatively analyzed to highlight the petrolatum market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed petrolatum market analysis based on competitive intensity and how the competition will take shape in coming years.

Petrolatum Market Report Highlights

Aspects Details
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By Type
  • White Petrolatum
  • Yellow Petrolatum
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By Grade
  • Pharmaceutical Grade
  • Cosmetic Grade
  • Industrial Grade
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By End-User Industry
  • Pharmaceutical
  • Cosmetics & Personal Care
  • Shipping
  • Leather
  • Telecommunications
  • Others
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By Region
  • Asia-Pacific  (China, India, Japan, South Korea, Rest of Asia-Pacific)
  • North America  (United States, Canada, Mexico)
  • Europe  (Germany, United Kingdom, France, Italy, Rest of Europe)
  • South America  (Brazil, Argentina, Rest of South America)
  • Middle-East and Africa  (Saudi Arabia, South Africa, Rest of Middle-East and Africa)
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Key Market Players

Unisynth Group, Shimi Taghtiran Company, Sasol, Persia Paraffin, Sovereign Chemicals & Cosmetics, Raj Petro, Eastern Petroleum, Unilever, Sonneborn LLC

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Petrolatum Market

Global Opportunity Analysis and Industry Forecast, 2023-2032