Global Petroleum Jelly Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
Petroleum jelly is a semi-solid mixture of hydrocarbons derived from petroleum, a naturally occurring substance found in the Earth's crust. It has a smooth and slippery texture, which makes it effective at forming a protective barrier. Petrolatum jelly is used in personal care products as a moisturizing agent, medicinal ointments, and lubrication.

Sizing and Forecast
The petroleum jelly  market size has grown strongly in recent years. It will grow from $1.3 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%.  The  growth in the historic period can be attributed to industrial applications, medical and pharmaceutical uses, cosmetics industry growth, consumer awareness and preferences, regulatory environment.

The petroleum jelly  market size is expected to see steady growth in the next few years. It will grow to $1.67 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.  The growth in the forecast period can be attributed to regulatory environment, sustainable and eco-friendly products, health and wellness trends, shift towards natural and organic products, global pandemic impact. Major trends in the forecast period include technological advancements, digital marketing and e-commerce, innovation and product development, growing demand for skincare products, innovative product formulations.

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Segmentation & Regional Insights
The petroleum jelly market covered in this report is segmented –
1) By Product Type: White Petroleum Jelly, Yellow Petroleum Jelly, Other Products
2) By Grade: Pharmaceutical Grade, Cosmetic Grade, Industrial Grade
3) By End User Industry: Pharmaceutical, Cosmetics And Personal care, Shipping, Leather, Telecommunication, Other End User Industries

North America was the largest region in the petroleum jelly market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the petroleum jelly market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rising demand for cosmetic procedures is expected to propel the growth of the petroleum jelly market going forward. Cosmetic procedures are medical or non-medical interventions performed to enhance or alter a person's appearance to achieve a desired aesthetic outcome. Petroleum jelly is a flexible substance frequently used in cosmetic procedures to cover the surgical site with a thin coating of petroleum jelly before cosmetic surgery and to treat scars after cosmetic surgery on wounds or surgical incisions. For instance, in March 2023, according to a report published by the British Association of Aesthetic Plastic Surgeons, a UK-based surgical association, in 2022, around 31,057 cosmetic procedures were performed in the UK, an increase of 102% from 2021. Therefore, the rising demand for cosmetic procedures is driving the growth of the petroleum jelly market.

Key Industry Players
Major companies operating in the petroleum jelly market report are Exxon Mobil Corporation, Shell Inc., Petróleo Brasileiro S.A., PJSC LUKOIL, Repsol S.A., Unilever plc, Sasol Wax Group, Teva Pharmaceuticals Inc., H&R Group, Sonneborn LLC, Nippon Seiro Co. Ltd., Bliss GVS Pharma Ltd., Polwax SA, Calumet Specialty Products Partners LP, Blistex Inc., Eastern Petroleum Pvt. Ltd., Raj Petro Specialities Pvt. Ltd., Sovereign Chemicals & Cosmetics, Kerax Limited, Vasa Cosmetics Private Limited, Persia Paraffin, Unisynth Group, ShimiTaghtiran Company, Unicorn Petroleum Industries Pvt Ltd., KK India Petroleum Specialities Pvt.Ltd., Nexton Lubricants

The petroleum jelly market report table of contents includes:
1. Executive Summary
2. Petroleum Jelly Market Characteristics
3. Petroleum Jelly Market Trends And Strategies
4. Petroleum Jelly Market - Macro Economic Scenario
5. Global Petroleum Jelly Market Size and Growth
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32. Global Petroleum Jelly Market Competitive Benchmarking
33. Global Petroleum Jelly Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Petroleum Jelly Market
35. Petroleum Jelly Market Future Outlook and Potential Analysis
36. Appendix