The new report by Expert Market Research titled, ‘Global Petroleum Jelly Market Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global petroleum jelly market, assessing the market based on its segments like grades, end-users, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 5.0%
The increasing sales of petroleum jelly products in the cosmetics sector owing to the rising purchasing power and personal hygiene is driving the growth of the petroleum jelly industry. The increasing use of petroleum jelly as a moisturiser and as an active constituent in ointments owing to dermatologists’ recommendations is critical in expanding the market.
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The expanding e-commerce, and the availability of petroleum jelly products to a broader customer base are also contributing to the steady growth of the industry. The rising adoption of broadband connections is leading to the growing use of cables, and petroleum jellies are increasingly used as cable filling compounds, bolstering the petroleum jelly industry. All these factors are resulting in the development of the market.
Industry Definition and Major Segments
Petroleum jelly, also known as soft paraffin or petrolatum, is a mixture of hydrocarbons that is majorly used for medical and personal care applications due to its healing properties. It is colourless (or pale yellow), semi-solid jelly-like in nature and its melting point is between 40 and 70 °C. In its pure form, it is tasteless, odourless, and its main ingredient is petroleum.
The petroleum jelly industry, by grade, is divided into
- Pharmaceutical Grade
- Cosmetic Grade
- Industrial Grade
Based on end-user, the market is classified into:
- Cosmetics and Personal Care
The regional markets for petroleum jelly include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The customer-oriented petroleum jelly products launched by leading industry players to escalate their market potential and expand their product portfolios are providing impetus to the growth of the petroleum jelly industry. The investments made by the companies in brand endorsements is leading to the development of the petroleum jelly industry.
The diverse products offered by Unilever PLC, such as Vaseline® Intensive Care™ lotions, Vaseline® Original Healing Jelly, and Vaseline® Intensive Care™ for every skin, is propelling the petroleum jelly industry. Moreover, petroleum jelly is a by-product of oil refining, and the government initiatives such as Make in India by the Indian government are projecting a spectacular growth in the refining sector, thereby fuelling the petroleum jelly industry.
Key Market Players
The major players in the market are Unilever PLC, Sonneborn LLC, Raj Petro Specialities Pvt. Ltd., Brenntag SE, Eastern Petroleum Pvt. Ltd., and Shimi Taghiran,Co, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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