Petrolatum, also known as Mineral or Petroleum Jelly, contains a mixture of minerals, waxes, and oils, it is an odorless and inert petroleum product. According to BlueQuark Research & Consulting, the global Petrolatum market is expected to witness a significant growth rate during the forecasted period. Factors like the use of Petrolatum for the manufacturing of cosmetic items that are used as a moisturizer to treat or prevent dry, rashed, itchy skin and minor skin irritations are expected to drive the global Petrolatum market. Further, the use of Petrolatum in the personal care industry as a cream, gel, and lubricant is projected to drive the global Petrolatum market. Furthermore, the use of Petrolatum in the pharmaceutical industry to prevent diaper rash, skin burns from radiation therapy, and skin irritation is expected to drive the Petrolatum market further. The use of Petrolatum in the industries for metal protection and lubrication of machinery is projected to drive the global petrolatum market. However, the side effects like allergies, infections, and inflammations associated with the use of Petrolatum are estimated to restrain the growth of the global Petrolatum market.
Petrolatum is used as an antifungal and antibacterial agent to manufacture thousands of personal care and cosmetic products, including creams, lotions, gels, lubricants, deodorants, perfumes, and other items, including pharmaceutical and industrial goods.
The Personal Care segment is the biggest consumer of Petrolatum and is projected to drive the global market. With the growing inclination of modern customers towards personal care and grooming, the demand for cosmetics and personal care products has increased rapidly, thus fueling demand for Petrolatum Internationally. The benefits of Petrolatum come from its main ingredient, i.e., petroleum, which prevents from external impact, forming a water-protective barrier making its use enhanced in the segment.The Procter & Gamble Companyposted fiscal 2021 USD 76.1 Billion, a 7 percent year-on-year increase in net sales, showing the industry's growth despite the pandemic. Further,Unilever PLC, maker of Vaseline, posted a turnover of EUR 13.5 Billion and a total turnover of EUR 25.8 Billion for the first six months of 2021, showing the demand and growth of the industry. Emollients like Petrolatum are substances that soften and moisturize skin and decrease further itching and flaking by forming an oily layer on the edge of the skin, which hydrates the skin by trapping water between the layers.Johnson & Johnsonposted its second-quarter results of 2021, a 27.1% increase in reported sales to USD 23 Billion and a 73.1% increase in the net earnings. Therefore the use of Petrolatum in the Personal Care industry is expected to grow and drive the overall market in the future.
Some of the market's key players areUnilever plc,Sonneborn LLC,Sasol Limited,Raj Petro Specialities Pvt. Ltd.,Eastern Petroleum Pvt. Ltd,Persia Paraffin, among others.
Asia-Pacific region is expected to be the leader in the production and consumption of Petrolatum, with most of the consumption in countries like China and India. The demand for personal care products, cosmetics, and pharmaceuticals is enormous in the region since more than half of the world’s population lives there. The demand for the cosmetics industry is mainly driven by the rise in urbanization, continuous increase in online spending on beauty products, expansion of social networks, and the increase in consumer interest in new and premium products. Growing demand from the Asia-Pacific region for better products in the personal care, cosmetics, and pharmaceutical industries has made the Petrolatum a critical material for the region's growth. Further, the use of Petrolatum for the treatment of fungal infections, rashes, and chest colds as a pharmaceutical product is expected to drive the demand for Petrolatum in the region. Furthermore, industries such as marine, leather, telecommunications, and manufacturing require petrolatum for several applications where processes like rusting or water can cause severe damage to equipment and operations, therefore the use of petrolatum helps these industries to overcome challenges in an efficient manner driving the demand of Petrolatum in the region. Factors like these have made Asia-Pacific an essential region for growth in the Petrolatum market.
In April 2021,Lubrizol Life Sciencepartnered with Canadian firm Advonex International Corp. to develop renewable products for the cosmetic and personal care industry to make plant-based hydrocarbons.
Global Petrolatum Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Petrolatum market by segmenting based on the Grade (Industrial Grade, Pharmaceutical Grade, Cosmetic Grade), Type (White Petrolatum, Yellow Petrolatum), End-Use Industries (Personal Care Products, Cosmetics, Pharmaceutical, Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.