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Global White Spirit Market Size is Projected to Reach USD 8.1 Billion by 2024 with a CAGR of 4.0% - ResearchAndMarkets.com

January 22, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Jan 22, 2020--

The “White Spirit Market by Type (Type 0, Type 1, Type 2, Type 3), Flash Point, Application (Thinner & Solvent, Fuels, Cleaning Agent, Degreasing Agent), Region (North America, Europe, APAC, Middle East & Africa, South America ) - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The increasing demand for paints & coatings in various end-use industries to drive the market.

The white spirit market size is estimated to be USD 6.7 billion in 2019 and projected to reach USD 8.1 billion by 2024, at a CAGR of 4.0%. The market is driven by the growing need for paints & coatings in various end-use industries. However, the increasing regulations on the use of environmentally-friendly products could hamper the market for white spirits.

The type 3 product segment is projected to register the highest CAGR during the forecast period.

The type 3 segment is projected to witness a higher growth rate than other types during the forecast period. The demand for type 3 white spirit is driven mainly by the growing demand for low aromatic white spirit from the coating, adhesives, and industrial cleaning chemical manufacturers. The increased consumption of these compounds in the various end-use industries, such as automotive, construction, and chemical is another vital factor leading to the high demand for type 3 white spirit.

The market in the thinner & solvent segment to account for the largest share during the forecast period.

White spirit is an essential ingredient in the manufacturing of solvent-based paints & coatings and is used as a thinner. The main purpose of the white spirit as a thinner is to reduce the viscosity of the paint and provide a slower rate of evaporation. Hence, the paints that are thinned with white spirit dry to a smoother surface and form a leveled coat on the surface it is being applied to. The growth of the construction industry is fueling the paints & coatings demand in these regions, which will directly have an impact on the demand for white spirit.

APAC is projected to be the fastest-growing region during the forecast period.

APAC accounted for the largest share of the global white spirit market. The developing economies of APAC and Middle East & Africa are witnessing an increase in urbanization, increasing middle-class population, and the growing demand for new houses due to the rising number of nuclear families, which has led to the construction of new residential and commercial buildings, which is expected to increase in the future.

Research Coverage:

This research report categorizes the white spirit market based on type, flash point, application, and region. The report includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of the key industry players has been done to provide insights into business overviews, products, and key strategies associated with the market.

Key Benefits of Buying the Report

Key Topics Covered:

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Scope

1.4 Currency

1.5 Package size

1.6 Limitations

1.7 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Data Triangulations

2.4 Assumptions

3 Executive Summary

4 Premium Insights

4.1 Attractive Market Opportunities in White Spirit Market

4.2 White Spirit Market, By Type

4.3 White Spirit Market, By Application

4.4 Burning Issues

4.5 Winning Imperatives

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.2 Restraints

5.2.3 Opportunities

5.2.4 Challenges

5.3 Porter’s Five Forces

5.4 Value Chain Analysis

5.5 Macroeconomic Overview

6 White Spirit Market, By Type- Forecast till 2024 (in Tons and USD Million)

6.1 Type 0

6.2 Type 1

6.3 Type 2

6.4 Type 3

7 White Spirit Market, By Flash Point- Forecast till 2024 (in Tons and USD Million)

7.1 Low Flash (21-30OC)

7.2 Regular Flash (31-54OC)

7.3 High Flash (>55OC)

8 White Spirit Market, By Application- Forecast till 2024 (in Tons and USD Million)

8.1 Solvent & Thinners

8.2 Fuels

8.3 Cleaning Agents

8.4 Degreasing Agent

8.5 Others (Corrosion Inhibitors, and surface-active agents)

9 White Spirit Market, By Region - Forecast till 2024 (in Tons and USD Million)

9.1 Introduction

9.2 North America

9.3 Europe

9.4 Asia-Pacific

9.5 Middle East & Africa

9.6 South America

10 Competitive Landscape

10.1 Introduction

10.2 New Product Launches

10.3 Expansion Activities

10.4 Partnerships, Agreements and Collaborations

10.5 Mergers and Acquisitions

10.6 Industry Structure

10.7 Company Strategies - working/not working OR winners vs losers

11 Company Profiles

(Business Overview, Financials, Products & Services, Key Strategy, and Recent Developments)

11.1 Introduction

11.2 Royal Dutch Shell

11.3 Total S.A

11.4 ExxonMobil Corporation

11.5 Thaioil Group

11.6 Idemitsu Kosan Co. Ltd

11.7 Trkiye Petrol Rafinerileri A.S.

11.8 DHC Solvent Chemie GmbH

11.9 Neste OYIJ

11.10 Bharat Petroleum Corporation Limited

11.11 Indian Oil Corporation Limited

11.12 Eagle Petrochem

11.13 Al Sanea Chemical Products

11.14 Haltermann Carless Deutschland GmbH

11.15 Kuwait International Factory

11.16 Al-Oga Factory for Manufacturing White spirit

11.17 K H Chemicals

11.18 Gulf Factory for White Solvent

11.19 Brenntag AG

11.20 Banner Chemicals Limited

11.21 Pon Pure Chemical Group

For more information about this report visit https://www.researchandmarkets.com/r/qfyr2e

View source version on businesswire.com:https://www.businesswire.com/news/home/20200122005641/en/

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SOURCE: Research and Markets

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PUB: 01/22/2020 12:13 PM/DISC: 01/22/2020 12:13 PM