The size of the global Petroleum Jelly market is estimated to reach USD 694.68 million by 2029 from USD 564.16 million in 2024, growing at a CAGR of 4.25% from 2024 to 2029.
Petroleum jelly is also known as mineral jelly or petroleum jelly because it contains a mixture of waxes and mineral oils. Vaseline was discovered in 1859 on an oil rig. Petroleum jelly is odorless and inert. It has excellent hydration characteristics and is therefore employed in various industries such as pharmaceuticals, paints, cosmetics, and telecommunications. In addition, petroleum jelly is widely employed in the medical treatment of wounds and scars due to its healing properties. Likewise, petroleum jelly finds application as a basic medicine for the sinuses, promoting its adoption to treat medical conditions such as nosebleeds, diaper rash and toenail fungus, rashes, and genital colds that are not STDs, among several other medical problems. After obtaining approval from the United States Food and Drug Administration (FDA) for distribution as an over-the-counter (OTC) skin protectant, the adoption of petroleum jelly in cosmetics and pharmaceuticals is predicted to stimulate market expansion in the coming years.
The cosmetics and personal care segment is predicted to contribute significantly to the worldwide petroleum jelly market during the foreseen period, followed by the pharmaceutical sector. Petroleum jelly is very versatile and is employed to protect and heal dry skin. It is an affordable and versatile skin care product available in supermarkets, pharmacies, and online sales. It is also useful for some cosmetic and personal care applications such as removing eye makeup, preventing blemishes on the skin caused by hair dye, and preventing split ends. In addition, petroleum jelly is widely employed in the medical treatment of wounds and scars due to its beneficial properties.
Increased calls for pharmaceuticals and cosmetics are supposed to drive the global petroleum jelly market in the near future. Petroleum jelly forms a sealing barrier on dry and damaged skin, trapping in moisture and helping speed up the skin's natural healing process. This creates a great call for petroleum jelly in the pharmaceutical and cosmetic industries. The adoption of petroleum jelly is escalating at an exponential rate due to its physical and chemical properties. The main driving force behind the expansion of the worldwide petroleum jelly market is the escalating call for petroleum jelly in pharmaceuticals and cosmetics. It is in wide call in a variety of application areas such as leather, telecommunications, manufacturing, marine, and others. Furthermore, it is resistant and insoluble in water and many other chemicals, which should make it a suitable solution in applications where the equipment requires resistance to rust.
The growing call for natural pharmaceuticals and cosmetics around the world may be one of the main constraints in the global petroleum jelly market, due to the increased awareness of natural products and the escalating power of buyer customers. The potential side effects of petroleum jelly, such as allergies and infections, are limiting the expansion of the worldwide petroleum jelly business.
Petroleum jelly is an excellent oxidation inhibitor and water repellent. It is odorless and inert. These properties of Petroleum jelly are predicted to drive the petroleum jelly market during the forecast period. As businesses like marine, leather, telecommunications, and manufacturing need petroleum jelly for several uses where rust or water can cause major damage to devices and operations. Therefore, the use of petroleum jelly helps these industries to overcome the challenges efficiently. Supported by its inert nature, it does not react with other chemicals. This feature makes it perfect and safe for adoption in the production of pharmaceutical goods. Additionally, petroleum jelly is tough and insoluble in water and many other chemicals. These properties make it a suitable solution in applications where equipment needs resistance to oxidation when left in contact with water and other chemicals for long periods of time.
The availability of petroleum jelly substitutes with natural ingredients can be a critical limitation to the market.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2029 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2029 |
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CAGR |
4.25% |
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Segments Covered |
By Grade, End User Industry, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Market Leaders Profiled |
Unilever, Sonneborn LLC, Sasol, Raj Petro, Eastern Petroleum, Persia Paraffin, Sovereign Chemicals & Cosmetics, Unisynth Group, ShimiTaghtiran Company |
The pharmaceutical-grade segment dominated the worldwide petroleum jelly market, in terms of market share, in 2023. The segment is estimated to grow at a significant CAGR over the outlook period, due to increased call for this grade petroleum jelly in the pharmaceutical industry.
Among these, the pharmaceutical segment is expected to grow at maximum CAGR during the conjecture period. Petrolatum is chemically inert, so it does not react with chemicals in pharmaceuticals. Due to this property, it is widely employed in drug manufacturing.
The high consumption of cosmetic products is driving the expansion of the regional market. On the other hand, the Asia Pacific region is estimated to grow at a CAGR of xx% during the conjecture period thanks to the rapid expansion of pharmaceutical industries and other end users. Increased awareness of the benefits of petroleum jelly and its wide adoption among young people in developing economies such as India and China are foreseen to boost regional market expansion during the projection period. In addition, the use of petroleum jelly in mass manufacturing sectors such as the automotive, electronics, and semiconductor industries for lubrication and coating applications is among the drivers of market expansion. Asia-Pacific dominated the worldwide petroleum jelly market in 2023.
The regional market is predicted to expand at a significant rate during the foreseen period as countries such as China, Japan, and China and India are experiencing high calls for pharmaceuticals. and petroleum-based cosmetics. North America is supposed to contribute substantially to the expansion of the overall petroleum jelly market in the near future. As one of the world's largest pharmaceutical and cosmetic manufacturers, the United States is likely to dominate the North American petroleum jelly market during the forecast period. The market in Europe is determined to grow at a constant CAGR over the predicted period. France and Germany are the main cosmetics producers in the region and are anticipated to dominate the European market during the outlook period.
Unilever, Sonneborn LLC, Sasol, Raj Petro, Eastern Petroleum, Persia Paraffin, Sovereign Chemicals & Cosmetics, Unisynth Group, ShimiTaghtiran Company are some of the notable companies in the global Petroleum Jelly market.
By Grade
By End User Industry
By Region
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