What is Petroleum Jelly Market Scope?
Petroleum jelly forms a sealing barrier on dry and damaged skin, which locks the moisture and helps in speeding up the natural recovery process of the skin. This generates high demand for petroleum jelly in the pharmaceutical and cosmetics industries. Since industries such as marine, leather, telecommunications, and manufacturing require petroleum jelly for several applications wherein rusting or water can cause severe damage to equipment and operations. Thus, the use of petroleum jelly helps these industries to overcome challenges in an efficient manner. India(19.6%) is the top exporter followed by Germany (19.4 %) of petroleum jelly and Nigeria is the top importer country of petroleum jelly.
The Petroleum Jelly market study is being classified by Type (Medical Grade, Cosmetic Grade and Industrial Grade), by Application (Pharmaceutical, Cosmetics and Personal Care, Shipping, Leather, Telecommunications and Others) and major geographies with country level break-up.
The market is fragmented and is characterized by the presence of key vendors and other prominent vendors. Key vendors are trying to maintain themselves in the global Petroleum Jelly market, whereas, regional vendors are focusing on product offerings to establish themselves in the market. Analysts at AMA predicts that Vendors from Asian will contribute to the maximum growth of Global Petroleum Jelly market throughout the predicted period.
Unilever (United Kingdom), Sonneborn LLC (United States), Sasol (South Africa), Raj Petro (India), Eastern Petroleum (India), Persia Paraffin ( IRAN), Sovereign Chemicals and Cosmetics (India), Unisynth Group (India), Shimi Taghtiran Company (Iran) and Holly Frontier Corporation (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Brenntag AG (Germany) and Godrej Consumer Products (India).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Petroleum Jelly market by Type, Application and Region.
On the basis of geography, the market of Petroleum Jelly has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
In 2019, Godrej Consumer Products Limited acquired a majority stake in Canon Chemicals. Canon Chemicals is a major manufacturer and distributor of personal care and home care products based in Kenya. Its major brand for petroleum jelly is Valon.
Influencing Market Trend
- Petroleum jelly is an excellent anti-rusting agent and water repellant
- Rising concerns regarding skin problems
Market Drivers
- Increase in the demand for pharmaceutical and cosmetic products
- The high adoption from Telecommunications industries
Opportunities
- Attractive marketing and promotional strategies
- Increasing Pharmaceutical expenditure in developing countries
Restraints
- Increase in the demand for natural pharmaceutical and cosmetic products
Challenges
- Government regulation regarding skincare products
Key Target Audience
Government Regulatory Bodies, Government Research Organization, Private Research Organization and Others
Customization available in this Study:
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