White Spirit Market Size, Share, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2022-2027
The White Spirit Market Size is expected to grow at a CAGR of 4.5% during the forecast period 2022-2027
SHERIDAN, WYOMING, USA, Sept. 22, 2022 /EINPresswire.com/ — Expert Market Research’s “Global White Spirit Market Price, Report and Forecast 2022-2027” provides a detailed overview of the global white spirit market, assessing the market on the basis of its segments such as types, grades, applications and major regions.
The report studies the latest market updates along with their impact on the market. It also analyzes market demand, along with its price and demand indicators. The report also tracks the market based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
Expected CAGR (2022-2027): 4.5%
White spirit is widely used in the manufacture of paints, coatings and adhesives, which are in high demand in the residential and commercial construction industry. Rapid urbanization, infrastructure development and the renovation of existing buildings in emerging economies are further fueling the demand for white spirit. Moreover, the increasing inclination of residents and apartment owners towards interior decoration further strengthens the white spirit market.
Meanwhile, white spirit is also used as a cleaner and degreaser for mechanical equipment in the industrial sector, which is another market driving factor. Due to its unique properties, white spirit is preferred for cleaning carbon and oil from metal surfaces in industries such as aerospace and automotive.
During the forecast period, the predicted increase in demand for downstream products of white spirit such as wood preservatives, varnishes, asphalt products, and waxes, among others, will likely drive demand increased for the product.
Regionally, Asia-Pacific leads with a significant share of the white spirit market. Robust industrialization and urbanization in emerging economies such as India and China are propelling demand for the product in the region. The strong presence of local manufacturers further supports an increased supply and demand chain.
Definition of the White Spirit industry and main segments
White spirit, also known as Stoddard solvent, is a clear liquid composed of petroleum hydrocarbons. This chemical compound is used in the manufacture of paints and coatings, waxes and inks, among others, with its wide uses complementing the growth of the white spirit market. White spirit is dangerous and can cause harm to humans if contacted. The molar mass of this product is 160 g/mol, with a boiling point of 174°C.
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Based on Type, the market can be segmented into:
The market can be broadly categorized based on quality into:
Low flash point
Average flash point
High flash point
By Application, the market has been segmented into:
On the basis of region, the market can be categorized into:
Middle East and Africa
White Spirits Market Trends
Major trends in the global white spirit market include technological advancements in the industrial sector and progressive upgrades in machinery and electronic equipment. These upgrades and advancements are likely to generate a high demand for degreasers and cleaning agents. The growing sale of electric vehicles is further propelling the demand for white spirit to clean auto parts and tools.
Booming printing industry is another crucial market trend which is boosting the demand for printing inks and liquid photocopier toners which are downstream products of white spirit. The increasing adoption of printers in businesses is generating more demand for inks, thereby driving increased growth in the white spirit market.
There are increasing investments in the development of paint and coating facilities in developing economies. These aim to increase the production capacities to meet the growing demand of urbanization and are likely to be the driving factors of the market.
In addition, the growing research and development activities in the decoration and furniture sector lead to a robust development of innovative paints and coatings. The booming e-commerce sector is another boon in the market that is boosting the sale of paint cans and brushes. Additionally, the growing expansion of the DIY sector is expected to boost the market by generating demand for home paints and coatings.
Main market players
Leading companies reviewed in the White Spirit Market report are:
Royal Dutch Shell Plc
CEPSA Quimica, SA
DHC Solvent Chemie GmbH
The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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