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White Spirit Market by Type (Type 0, Type 1, Type 2, Type 3 and Type 4); By Flash Point (Low, Medium, High); By Application (Thinner & Solvent, Cleansing and Degreasing Agent, Disinfectant, and Other); and Region - Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030

Publisher Name :
Date: 31-May-2022
No. of pages: 167

Product Overview

White spirit or mineral spirit is a petrochemical solvent consist of aliphatic, acyclic, and aromatic hydrocarbons with a boiling range varying between 65-230°C. Other common names of white spirits are mineral turpentine, turpentine substitute, petroleum spirits, solvent naphtha (petroleum), various and Stoddard solvent. White spirit is a clear colorless and flammable liquid insoluble in water. White spirits are of four types categorized on the basis of their aromatic content- Type 1, Type 2, Type 3, and Type 0. White spirit is utilized in a wide range of applications such as cleaning agents, extraction solvent, degreasing solvent, paint thinners, varnishes, printing inks, waxes, and disinfectants. White spirit is primarily used in households to clean paint brushes or thin paint.

Market Highlights

Global White Spirit Market is expected to project a notable CAGR of 4.64% in 2030.

Global White Spirit Market to surpass USD 9.95 billion by 2030 from USD 6.05 billion in 2019 at a CAGR of 4.64% in the coming years, i.e., 2020-30. Global White Spirit market is estimated to grow due to its growing demand for painting and coatings from various end-user industries. Additionally, growing demand from cleansing and degreasing agent application is anticipated to boost the market for white spirits in the near future. With the presence of a wide range of applications, white spirit is popular which is likely to aid in the market growth of white spirits.

Recent Highlights in Global White Spirit Market

In May 2017, Exxon Mobil Corporation completed its acquisition of one of the world's largest aromatics facilities on Jurong Island in Singapore. Proximity to company's integrated refining and petrochemical complex will strengthen both sites with a product and logistical synergies.

In June 2017, HCS Group GmbH (HCS), a leading global supplier of solutions for high-value hydrocarbon specialties, announced that it has signed a contract with Solvents Ltd., a distributor of petrochemical solvents and an existing producer of Automotive fluids, for the sale of its Alterman Carless (HC) Fluids business

Global White Spirit Market: Segments

Type 2 segment to grow with the highest CAGR during 2020-30

Global White Spirit market is segmented by Type into type 0, type 1, type 2, type 3, and type 4. Type 2 segment held the largest market share in the year 2019. Type 2 white spirit commonly known as solvent extracted, is a mixture of hydrocarbons which is produced as the raffinate from the solvent extraction process. The demand for type 2 white spirit is fueling due to increasing demand from the paint & coating, adhesives, and cleaning chemical manufacturers.

Thinner & Solvent Segment to grow with the highest CAGR during 2020-30

Global White Spirit market is distributed by Application into Thinner & Solvent, Cleansing and Degreasing Agent, Disinfectant, and Others. Thinner & Solvent Segment held the largest market share in the year 2019. White spirit is used in the manufacturing of solvent-based paints and coatings and utilized as a thinner. As a thinner, it reduces the viscosity of the paint and offers a slower rate of evaporation. The demand for paints & coatings is mounting owing to the growth of the construction industry, which is projected to fuel the demand for white spirit.

Market Dynamics

Drivers

Rising demand from cleansing and degreasing agent application

White spirit is consumed as a cleansing agent due to its versatility and effectiveness. It can be utilized as a solvent to remove slip-ups while painting. White spirit is primarily used in the automobile industry as cleaning agents for car parts or heavy machinery. It assists in removing the toughest grease and chemical stains. In addition, the usage of cleaning agents is expected to rise due to the increasing industrial activities and rising hygienic needs. This, in turn, is anticipated to surge the demand for white spirit.

Increasing application in paints and coatings industry

White spirits are majorly used in the paints and coating industry as they are effective as a synesthetic paint thinner. White spirit may be present as a minor component of water-based paints. With the increasing paints and coating industry, the global white spirit market is expected to boost in the coming years.

Restraint

Environmental and health concern

Exposure to white spirit is toxic and hazardous for health as well as for the environment. Skin contact with white spirit may lead to irritation, drying, and cracking. Prolonged contact can cause blistering, redness, and burns.

Global White Spirit Market: Key Players

Royal Dutch Shell

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

Total SA

Exxon Mobil Corporation

Idemitsu Kosan Co. Ltd

Bharat Petroleum Corporation Limited

Indian Oil Corporation Limited

ThaiOil Company

Neste,

DHC Solvent Chemie GmbH.

Other Prominent Players

Global White Spirit Market: Regions

Global White Spirit market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa

Global White Spirit market in North America held the largest market share of XX.X% in the year 2019. Asia Pacific will continue to dominate the global White Spirit market due to rising urbanization and industrialization in this region, which is expected to fuel the demand for the white spirit. Additionally, due to the mounting demand for paint thinners and cleaning agents for household requirements, the market is anticipated to grow in the coming years.

Global White Spirit market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR - North Africa, Israel, GCC, South Africa, and Rest of MENA

Global White Spirit market report also contains analysis on:

White Spirit Market Segments:

By Product Type

Type 0

Type 1

Type 2

Type 3

Type 4

By Flash Point

Low

Medium

High

By Application

Thinner & Solvent

Cleansing and Degreasing Agent

Disinfectant

Others

Global White Spirit market Dynamics

Global White Spirit market size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

White Spirit Market by Type (Type 0, Type 1, Type 2, Type 3 and Type 4); By Flash Point (Low, Medium, High); By Application (Thinner & Solvent, Cleansing and Degreasing Agent, Disinfectant, and Other); and Region - Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030

Table of Contents

1. Executive Summary
2. Global White Spirit Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Global White Spirit Market Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Global White Spirit Market
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Global White Spirit Market: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Type: Market Share (2020-2030F)
12.2.1. Type 0, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Type 1, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Type 2, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.4. Type 3, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.5. Type 4, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Flash point: Market Share (2020-2030F)
12.3.1. High, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Medium, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Low, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F.
12.4. By Application: Market Share (2020-2030F)
12.4.1. Thinner and Solvent, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.2. Cleansing and Degreasing Agent, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.3. Disinfectant, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030

Company Profile
1. Royal Dutch Shell
1. Company Overview
2. Company Total Revenue (Financials)
3. Market Potential
4. Global Presence
5. Key Performance Indicators
6. SWOT Analysis
7. Product Launch
2. Total SA
3. Cisco Systems, Inc
4. Fujitsu Limited
5. Nokia Corporation
6. Hewlett Packard Enterprise Development LP
7. Airspan Networks
8. Casa Systems
9. Aviat Networks, Inc.
10. Other Prominent Players

Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
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