White Spirit Market Report: Trends, Forecast and Competitive Analysis to 2030

White Spirit Trends and Forecast

The future of the global white spirit market looks promising with opportunities in the thinner & solvent, fuel, cleaning agent, and degreasing agent markets. The global white spirit market is expected to reach an estimated $8.4 billion by 2030 with a CAGR of 4.0% from 2024 to 2030. The major drivers for this market are growth in constructional activities, increase in consumer preference for low-aromatic white spirit, and rising use of this substrate in cleaning products.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

White Spirit by Segment

The study includes a forecast for the global white spirit by flash point, application, and region.

White Spirit Market by Flash Point [Shipment Analysis by Value from 2018 to 2030]:

• Low
• Medium
• High

White Spirit Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Thinner & Solvent
• Fuel
• Cleaning Agent
• Degreasing Agent
• Others

White Spirit Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of White Spirit Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies white spirit companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the white spirit companies profiled in this report include-

• Royal Dutch Shell
• Total SA
• Idemitsu Kosan
• Exxon Mobil
• Bharat Petroleum
• Indian Oil
• ThaiOil

White Spirit Market Insights

Lucintel forecasts that low is expected to witness the highest growth over the forecast period.

Within this market, thinner & solvent will remain the largest segment due to substantial usage of white spirit in this application to obtain decreased viscosity of the paint and a slower rate of evaporation.

APAC will remain the largest region over the forecast period due to significant demand for white spirit from construction and automotive sector of the region.

Features of the Global White Spirit Market

Market Size Estimates: White spirit market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: White spirit market size by flash point, application, and region in terms of value ($B).

Regional Analysis: White spirit market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different flash points, applications, and regions for the white spirit market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the white spirit market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the white spirit market size?

Answer: The global white spirit market is expected to reach an estimated $8.4 billion by 2030.

Q2. What is the growth forecast for white spirit market?

Answer: The global white spirit market is expected to grow with a CAGR of 4.0% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the white spirit market?

Answer: The major drivers for this market are growth in constructional activities, increase in consumer preference for low-aromatic white spirit, and rising use of this substrate in cleaning products.

Q4. What are the major segments for white spirit market?

Answer: The future of the white spirit market looks promising with opportunities in the thinner & solvent, fuel, cleaning agent, and degreasing agent markets.

Q5. Who are the key white spirit market companies?

Answer: Some of the key white spirit companies are as follows:

• Royal Dutch Shell
• Total SA
• Idemitsu Kosan
• Exxon Mobil
• Bharat Petroleum
• Indian Oil
• ThaiOil

Q6. Which white spirit market segment will be the largest in future?

Answer: Lucintel forecasts that low is expected to witness the highest growth over the forecast period.

Q7. In white spirit market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to significant demand for white spirit from construction and automotive sector of the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the white spirit market by flash point (low, medium, and high), application (thinner & solvent, fuel, cleaning agent, degreasing agent, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?