Global White Spirit Market, 2024-2030

White spirit is also known as mineral spirits, mineral turpentine, turpentine substitute, and petroleum spirits. It derived from the petroleum base. It is generally used as common organic solvent. This solvent used in paint to make it thin. White spirit is insoluble in water.There are generally four types of spirit - Type 1, Type 2, Type 3, and Type 0, which are categorized on their aromatic content basis.. The type refers to whether the solvent has been subjected to hydrodesulfurization (removal of sulfur) alone (type 1), solvent extraction (type 2) or hydrogenation (type 3) and type 0, which is defined as distillation fraction with no further treatment, consisting predominantly of saturated C9 to C12 hydrocarbons with a boiling range of 140–200 °.

Each type comprises three grades: low flash grade, regular grade, and high flash grade (flash refers to flash point). The grade is determined by the crude oil used as the starting material and the conditions of distillation. White spirit is used as an extraction solvent, as a cleaning solvent, as a degreasing solvent and as a solvent in aerosols, paints, wood preservatives, lacquers, varnishes, and asphalt products due to highly solubility. It is also used in automobile, manufacturing industry, and building and construction industries.

The global white spirit market research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the global white spirit market is growing at a fast pace and increasing its geographical footprint rapidly. The global white spirit market is valued at US $ xxx million dollars in 2019 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2024 in value.

The growth is comparatively higher in Asia Pacific region due to the booming paints and coatings industry and the growing demand for cleaning and degreasing solvents. The major growth driver for white spirit market is the increased construction activity and growing automotive industry in developing countries has increased the demand for a synthetic paint thinner.

Toxic and hazardous in nature and high cost of white spirits are major impediments to the expansion of global white spirit market.

White spirit enjoy wide usage across all major regions in the world including Europe, APAC, North America, Middle East, Africa, and Latin America. These regions serve large number of manufacturers and supplier and are hence responsible for the growth of white spirit market globally. The companies that lead global market are Exxonmobil Corporation, DHC Solvent Chemie GMBH, Royal Dutch Shell PLC, Total S.A., GSB Chemicals, Idemitsu Kosan Co., Ltd., Neste Oyj, Haltermann Carless Deutschland GmbH, and Al Sanea Chemical Products, among others.

Research Methodology

The research process includes the market segmentation of the global white spirit market, identifying the growth determinants of every market segment and market forecasts. All the market forecasts are done in accordance with the inputs taken from the global white spirit market industry experts from across the global industry. Market Krystal conducts more than 40 interview hours dedicated for this study, the same are mentioned below:

By company type:

Manufacturers (35%), Suppliers (25%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)

By geography:

North America (40%), Asia (35%), Europe (25%)

By designation:

Top level (40%), Operation level (20%), Mid-level (40%)

Contents of the report:

• Insights on the global white spirit industry dynamics
• Estimation of the present global white spirit market size in terms of value and volume
• Global white spirit market breakup based on type and application
• Verified global white spirit market forecast for the next five years.
• In depth analysis of the leading companies working across different nodes of global white spirit industry value chain.

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