The global petroleum jelly market is anticipated to grow at a moderate CAGR of 4.2% during the forecast period (2024–2031). The market growth is driven by the rising consumption of cosmetics products including moisturizers, lip balms, and hair care products. Petroleum jelly is an important ingredient in the manufacturing of such products. With widespread demand for cosmetic products, major cosmetics manufacturer are investing to expand their production capacity. For instance, in May 2023, Beiersdorf AG invested nearly $325.0 million in a sustainable plant in Leipzig-Seehausen. The production facility is aimed to enhance innovation capability and capacities for long-term growth with 200 employees producing up to 450 million cosmetic products for the European market each year.
Moreover, major cosmetic manufacturers have also invested in other companies to extend their product portfolio and offerings. For instance, L’Oréal announced an agreement to make a minority investment in SHINEHIGH INNOVATION, an innovation-led biotech company in China, to establish a long-term partnership for the co-development of novel and sustainable beauty solutions. This is L’Oréal’s first open innovation investment in China through Shanghai Meicifang Investment Co., Ltd (Meicifang), with the support from BOLD (Business Opportunities for L’Oréal Development), L’Oréal Groupe’s strategic innovation venture capital fund company.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Grade
- By End-user
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape includes Unilever, Shell Group, Sasol Ltd, and Sonneborn LLC (HF Sinclair Corp.).
Petroleum Jelly Market Report Segment
By Grade
- Industrial
- Medical
- Cosmetic
By End-user
- Pharmaceuticals
- Cosmetic & personal care
- Food
- Textile
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Petroleum Jelly Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Adinath Chemicals
- Calumet Specialty Products Partners, L.P.
- Hangzhou Oleochemicals Co., Ltd.
- Lodha Chemicals (Lodha Petro)
- Navid Noor Polymer
- Nippon Siero Co., Ltd.
- Petrobras
- PetroNaft Co.
- Raj Petro Specialities Pvt. Ltd.
- Shimi Taghtiran Co.
- Sovereign Chemicals & Cosmetics
- Sun Chem Group
- Unisynth Group
- Shimi Taghtiran Co.
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