Vaseline, as a brand of Petroleum Jelly-based products, is known for its beneficial to personal care and hygiene by protecting moisture in skin, which helps to repair and relieve dryness of skin. At present, Vaseline products can be available in the forms of skin creams, soaps, lotions, and deodorants, in which petroleum jelly is used as a main ingredient and is now widely used in many other industries including pharmaceutical and industrial grade besides cosmetic grade.

Petroleum jelly, also known as mineral jelly or petrolatum, is the main source for producing Medicinal Vaseline and has several minerals that could be used for various medicinal purposes. Traditionally, petroleum jelly was originally called “Wonder Jelly” because of its healing properties for almost all wounded or burnt skin and was later renamed it as “Vaseline Jelly,” thus, a brand called, Vaseline came into existence in 1872. Whenever we talk about petroleum jelly, we are usually referring to Vaseline jelly.

What is Petroleum Jelly and its Development as a Vaseline Product?

Petroleum jelly is a refined form of wax and a semi-solid substance that has a mixture of mineral waxes and oils, which is popularly known for its healing properties. The raw material for petroleum jelly, an unrefined black “rod wax” as the drillers called it, was discovered in 1859 in Titusville, a small town in Pennsylvania, from an oil rig.

Learning from oil workers who had been using rod wax as healing substance for their wounds, a UK-born American chemist named Robert Chesebrough studied the substance and extracted petroleum jelly from rod wax. This refined form of wax was branded under the patient name, Vaseline by Chesebrough in 1872 and he began manufacturing of the products in his first factory at New Jersey. The Chesebrough Manufacturing Company continued manufacturing Vaseline until the company was acquired by a British-Dutch company, Unilever in 1987.

Since the product was widely recognized for its medicinal benefits, Vaseline’s first-aid petroleum jelly was reported included in life raft survival kits of soldiers during the Second World War (1939-1945). Furthermore, the products have been used as a sunscreen protecting against ultraviolet rays and as medicinal uses to prevent moisture loss of the skin of a patient in the initial post-operative period following laser skin resurfacing.

Current Scenario of the Global Medicinal Vaseline Market

Since Vaseline is found to be an effective moisture insulator for local skin conditions characterized by tissue dehydration, it is now recognized by the U.S. Food and Drug Administration (FDA) as an approved over-the-counter (OTC) skin protectant and remains widely used in cosmetic skin care. Moreover, the rise of using petroleum jelly for many ailments as well as cosmetic purposes including toenail fungus, genital rashes (non-STD), nosebleeds, diaper rash, and common colds are the key aspects that help grow the market.

Petroleum jelly has a variety of applications ranging from metal protection and lubrication of machinery in the food & beverages industry to pharmaceutical applications as a component of ointments and barrier creams. Due to its odorless and inert properties of petroleum jelly, it is an effective anti-rusting agent and water repellant, which act as an excellent hydrating substance.  For these reasons, industries such as marine, leather, telecommunications, and manufacturing primarily use petroleum jelly to prevent from rusting of various equipment and operations.

With these multiple applications, the demand for petroleum jelly for the use of pharmaceutical and cosmetic products is expected to increase and which in turn, drive the global petroleum jelly market in the near future. As per a detailed report by DataIntelo, the global Medicinal Vaseline Market is expected to grow significantly due to the surge in demand for medicinal Vaseline products and expand across the regions in the coming years. The main reason for the increase in the demand for Vaseline is due to the growing awareness of medicinal benefits among consumers and the rise of their disposable income.

The pharmaceutical sector that dominated the global market share in 2018 is projected to expand at a significant CAGR during the forecast period from 2020-2026, owing to rise in the demand for pharmaceutical-grade petroleum jelly in the pharmaceutical industry.

A key factor that can hinder the growth of the market is the increase in the demand for natural pharmaceutical and cosmetic products among consumers as there is a rise of awareness about the benefits of natural products to the health-related concerns. Another challenge for the Vaseline market is the availability of substitutes for petroleum jelly with natural ingredients.

Expected Global Medicinal Vaseline Market Performance in Regions

The global medicinal vaseline market is gradually expanding across the five key regions: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Among these, Asia Pacific is the leading market and dominated the global medicinal vaseline market in 2018. The market in the region is expected to expand at a significant rate during the forecast period, since emerging economies such as China, Japan, and India are witnessing a high demand for petroleum-jelly-based pharmaceutical and cosmetic products.

Meanwhile, North America is likely to emerge a key potential destination of the market and make substantial contributions toward the growth of the overall market for medicinal vaseline in the near future. The United States (US), as one of the largest manufacturers of pharmaceutical and cosmetic products across the globe, is expected to witness a rapid surge in demand for medicinal vaseline market during the forecast period.

Moreover, the market in Europe is expected to expand at a steady CAGR during the forecast period with France and Germany as the leading producers of cosmetic products in the region.

Key Manufacturers of Medicinal Vaseline Market and Key Developments

To mention a few major manufacturers of the market include Unilever, Sonneborn LLC, Sasol, Raj Petro, Eastern Petroleum, Persia Paraffin, Sovereign Chemicals & Cosmetics, Unisynth Group, and Shimi Taghtiran Company. Many of these players are constantly making efforts to bring innovative business strategies to gain or at least sustain in the high competitive global market, which is currently hampered by the COIVD-19 outbreak.

Some of the key business developments for enhancing their presence and increasing market share of the global petroleum market can be mentioned below:

Brenntag AG, a Germany-based multinational chemical distribution company, acquired a major stake in Raj Petro, one of the world’s leading manufacturers of petroleum jelly, in January 2018. Godrej Consumer Products Limited acquired a majority stake in Canon Chemicals, a major manufacturer and distributor of personal care and home care products based in Kenya in 2019. Its major brand for petroleum jelly is Valon. In February 2019, Holly Frontier Corporation acquired Sonneborn, a leading manufacturer and distributor of petroleum-jelly-based products in the Netherland.

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