White oils are highly refined paraffinic or naphthenic base oils with minimal aromatic content. These oils are colorless, tasteless, odorless, and hydrophobic, and do not change their color over time. They are also known as light mineral oils, light liquid paraffin, and light paraffin oils in different parts of the world. White oils were prepared as by products of sulfonate production, formed when paraffinic or naphthenic base oils were treated with sulfuric acid. This process removes all unsaturated and aromatic compounds, nitrogen and sulfur impurities, toxic compounds, and color‐forming compounds. It also removes all natural oxidation inhibitors. However, currently, these oils are produced by a hydrogenation process that utilizes lubricant oil distillates. This process eliminates aromatic and unsaturated compounds and removes any nitrogen, sulfur, and color‐forming compounds present. The finished product meets the same purity requirements as white oils produced by acid‐treating. The inhibitor, vitamin E or butylated hydroxytoluene (BHT), must be added after the hydrogenation process. The majority of global lubricant producers, such as Shell, ExxonMobil, Castrol, and Total, are also among the white oil suppliers in the global market. However, some of these players do not hold any dominance in the global market, as the strength of the regional supply chain is one of the prime factors for supplier selection in the market. Regional availability/supply of base oil grades are mostly preferred by the white oil manufacturers for production. Indian, Chinese, and North American white oil producers prefer using group II base oil due to its abundant supply. Moreover, regional sourcing of the raw materials reduces the transit cost and lead time, which helps manufacturers get some extra margin.

1. INTRODUCTION 

2. RESEARCH METHODOLOGY 

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

5. MARKET SEGMENTATION 

6. COMPETITIVE LANDSCAPE 

7. APPENDIX 

8. DISCLAIMER