The global white spirit market size was USD 6.83 Billion in 2021 and is expected to register a revenue CAGR of 5.8% during the forecast period, according to latest analysis by Emergen Research. Rising demand for white spirit in cleaning solvent and degreasing applications is one of the factors driving market revenue growth. In addition, increasing demand for paints and coatings, disinfectants, aerosols, cleaning agents, and degreasing agents in various end-user sectors such as automotive, manufacturing, and building & construction Is driving revenue growth of the white spirit market. Moreover, high demand for white spirit in combination with alicyclic and aliphatic hydrocarbons owing to rising industrial purposes such as cleaning, material extraction, and degreasing and various applications of white spirit in wood preservative solvents, varnishes, and lacquer solvent are significantly contributing to market growth.
This White Spirit market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Data Bridge Market Research White Spirit market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Leading Key Players Operating in the White Spirit Market Includes:
Shell plc, Exxon Mobil Corporation, Bharat Petroleum Corporation Limited, Indian Oil Corporation Ltd, Neste, KAPCO Petroleum Industries FZC, DHC Solvent Chemie GmbH Thai Oil Group, TotalEnergies, and Idemitsu Kosan Co., Ltd.
The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global White Spirit market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
Some of the features of White Spirit Market Report:
- The type 1 segment accounted for a significant revenue share in 2021. Type 1, also known as Stoddard solvent, is a petroleum distillate with high boiling range of 149-204° Celsius. High demand for extraction and cleaning solvents is increasing revenue growth of this segment owing to its high boiling point as well as absence of rancid odors. Increasing utilization of aerosol for household and healthcare applications is contributing to growth of this segment. Moreover, growing use of varnishes for wood furniture is rapidly increasing demand for white spirit.
- The paint thinner segment accounted for a significant revenue share in 2021. Rising demand for new residential and commercial buildings with increasing population is a major factor driving revenue growth of this segment. Paint thinner is used to easily remove oil-based paint from various equipment such as brushes, rollers, and surfaces. Moreover, ability to employ spray applicators is becoming more popular, particularly in home applications for efficiency and convenience of use. Furthermore, paint thinner prevents paint from hardening when exposed to open air, reducing cost and avoiding waste.
- The Asia Pacific market accounted for largest revenue share in 2021. Presence of major paint companies especially in China, which is a leading producer of paints and coatings, in addition to growing automotive and manufacturing industries, are factors driving revenue growth of the market in this region. Moreover, increasing presence of petrochemical companies in India is also contributing to market growth.
Emergen Research has segmented the global white spirit market based on product type, application, and region:
-
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Type 0
- Type 1
- Type 2
- Type 3
-
Application Outlook (Revenue, USD Billion; 2019-2030)
- Solvent extraction
- Paint thinner
- Cleaning solvent
- Degreasing solvent
- Others
The study segments the White Spirit industry in light of major classification such as product type, potential markets, application, and end-user. This industry assessment for the forecast period, 2021 – 2028 incorporates projections pertaining to the investment feasibility, gross margin, profits, consumption volume, production capability and major market vendors. Likewise, statistics associated with the competitive landscape, shifting consumer behaviour and spending power is showcased and well-explained with the help of treasured resources such as charts, graphs and graphic images, which can be easily incorporated in the business or corporate presentations.
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Key point summary of the report:
- The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
- It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
- The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
- It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
- Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
- The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
- The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
Regional Outlook of White Spirit Market:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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