Tools commonly used in the Petrolatum (Wholesale) industry for day-to-day tasks and operations.

• Melting tanks
• Mixing tanks
• Filling machines
• Labeling machines
• Pumps
• Hoses
• Heat exchangers
• Filters
• Conveyors
• Packaging equipment

Common products and services typical of NAICS Code 424720-19, illustrating the main business activities and contributions to the market.

• Cosmetics manufacturing
• Pharmaceutical manufacturing
• Personal care product manufacturing
• Electrical insulation manufacturing
• Rust preventative manufacturing
• Lubricant manufacturing
• Candle manufacturing
• Adhesive manufacturing
• Ink manufacturing
• Paint manufacturing

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Hazardous Materials Endorsement (HME): This endorsement is required for drivers who transport hazardous materials. The endorsement is issued by the Transportation Security Administration (TSA) and requires a background check and fingerprinting.
• Hazardous Waste Operations and Emergency Response (HAZWOPER) Certification: This certification is required for workers who handle hazardous waste. The certification is issued by the Occupational Safety and Health Administration (OSHA) and requires training in hazardous waste management, emergency response, and personal protective equipment.
• Environmental Protection Agency (EPA) Spill Prevention, Control, and Countermeasure (SPCC) Plan: This plan is required for facilities that store, handle, or transport petroleum products. The plan outlines procedures for preventing and responding to oil spills.
• National Fire Protection Association (NFPA) 30: Flammable and Combustible Liquids Code: This code provides guidelines for the storage, handling, and use of flammable and combustible liquids, including petrolatum. Compliance with this code is required by many local and state fire codes.
• Occupational Safety and Health Administration (OSHA) Hazard Communication Standard (HCS): This standard requires employers to provide information and training to employees who work with hazardous chemicals, including petrolatum. The standard also requires employers to maintain safety data sheets (SDS) for all hazardous chemicals.

A concise historical narrative of NAICS Code 424720-19 covering global milestones and recent developments within the United States.

• Petrolatum is a byproduct of petroleum refining and has been used for centuries as a lubricant, waterproofing agent, and skin protectant. The wholesale industry for petrolatum began in the early 20th century, with companies like Vaseline and White Petroleum Jelly leading the way. During World War II, petrolatum was used extensively in the military for waterproofing and as a lubricant. In recent years, the industry has faced challenges due to the rise of alternative products like natural oils and plant-based waxes. However, petrolatum remains a popular ingredient in many personal care and cosmetic products, ensuring a steady demand for the wholesale industry. In the United States, the petrolatum wholesale industry has seen steady growth over the past few decades. According to the US Census Bureau, the industry generated $1.2 billion in revenue in 1997 and $1.8 billion in 2012. The growth can be attributed to the increasing demand for petrolatum-based products in the personal care and cosmetic industries. In addition, the industry has benefited from advancements in technology, which have made the refining and processing of petrolatum more efficient. Overall, the petrolatum wholesale industry in the US has a strong foundation and is poised for continued growth in the future.

The anticipated future trajectory of the NAICS 424720-19 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Petrolatum (Wholesale) industry in the USA is positive. The industry is expected to experience steady growth in the coming years due to the increasing demand for petrolatum in various applications such as personal care, pharmaceuticals, and industrial products. The growth in the personal care industry, in particular, is expected to drive the demand for petrolatum as it is widely used in skincare products. Additionally, the increasing demand for petrolatum in the pharmaceutical industry for its healing properties is expected to further boost the industry's growth. However, the industry may face challenges due to the increasing popularity of natural and organic products, which may reduce the demand for petrolatum-based products. Overall, the industry is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Petrolatum (Wholesale) industry, reflecting notable innovations that have reshaped its landscape.

• Development Of New Petrolatum-Based Formulations: The industry has seen the development of new petrolatum-based formulations that are more effective and efficient in various applications such as personal care and pharmaceuticals.
• Increasing Use Of Petrolatum In the Personal Care Industry: The personal care industry has seen an increasing use of petrolatum in skincare products due to its moisturizing and healing properties.
• Growing Demand for Petrolatum In the Pharmaceutical Industry: The pharmaceutical industry has seen a growing demand for petrolatum due to its healing properties and use in various ointments and creams.
• Expansion Of the Industry's Distribution Network: The industry has seen an expansion of its distribution network, which has enabled it to reach more customers and increase its market share.
• Increasing Focus on Sustainability: The industry has seen an increasing focus on sustainability, with companies adopting sustainable practices in their operations and products. This has led to the development of eco-friendly petrolatum-based products and packaging.