The global petroleum jelly market size was USD 1.45 Billion in 2022 and is expected to reach USD 2.21 Billion in 2032, and register a revenue CAGR of 4.8% during the forecast period. With its adaptability and advantageous qualities, petroleum jelly is becoming increasingly popular in the pharmaceutical, personal care, and industrial industries, which is a major factor driving the market revenue growth. For use as a lubricant and protector on a variety of products, petroleum jelly is a semi-solid combination of hydrocarbons.
Petroleum jelly's primary end-use sector is the pharmaceutical industry, and demand for this product is expected to increase during the projected period. As petroleum jelly helps to retain moisture and relieve dry, chapped skin, it is increasingly used in the manufacturing of a variety of pharmaceutical products, including ointments, creams, and lotions, which are responsible for the rise in demand. In addition, there is a rising demand for pharmaceuticals made from petroleum jelly due to the prevalence of skin conditions and diseases including eczema, psoriasis, and acne.
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Top Leading Players in The Global Petroleum Jelly Market Are:
- Royal Dutch Shell
- Sonneborn LLC
- Sasol
- Raj Petro Specialities Pvt. Ltd.
- Eastern Petroleum
- Sovereign Chemicals Cosmetics
- Unisynth Group
- Shimi Taghtiran Co.
- Nippon Siero Co., Ltd.
- Petrobras
Segments covered in the report:
Grade Outlook (Revenue, USD Billion; 2019-2030)
- Industrial
- Medical
- Cosmetic
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Pharmaceuticals
- Cosmetics Personal Care
- Textile
- Food
- Leather
- Others
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Petroleum Jelly Market Upcoming Growth:
The increasing use of petroleum jelly in various industries, such as healthcare, personal care, and food, is expected to drive market growth. Additionally, the growing demand for petroleum jelly as a lubricant and protective coating in the industrial sector is expected to boost market growth. The rise in disposable income and changing consumer lifestyles, particularly in emerging economies, is also anticipated to fuel the demand for personal care products that contain petroleum jelly. Furthermore, the increasing focus on sustainability and the development of natural alternatives to petroleum jelly are expected to drive innovation and create new growth opportunities in the market.
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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