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North America White Spirits Market Size, Share & Trends Analysis Report By Grade (Low Flash Point, Regular Flash Point and High Flash Point), By Application, By Product Type (Type 1, Type 2, Type 3, and Type 0). By Country and Growth Forecast, 2023 - 2030

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    Report

  • 129 Pages
  • March 2024
  • Region: North America
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5953446
The North America White Spirits Market would witness market growth of 5.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1632.4 Kilo Tonnes, showcasing a growth of 4.5% (2019-2022).

In the white spirits market, cleaning solvent applications play a crucial role in various industries, ranging from automotive and manufacturing to construction and household cleaning. These solvents are utilized for degreasing, surface preparation, and removing contaminants from machinery, equipment, surfaces, and components. With their ability to dissolve oils, greases, and dirt effectively, cleaning solvents ensure thorough cleaning and maintenance, thus prolonging the lifespan and performance of machinery and surfaces. Therefore, the Canada market used 34.6 Kilo Tonnes of white spirit as cleaning solvent in 2022.



The US market dominated the North America White Spirits Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,754.7 million by 2030. The Canada market is experiencing a CAGR of 5.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.1% during (2023 - 2030).

In recent years, the adoption of white spirits has witnessed a significant upswing across various sectors, underscoring their indispensable role in facilitating industrial processes and product formulations. One notable area of increasing adoption is within the construction sector, where white spirits are utilized extensively for surface preparation, paint thinning, and cleaning purposes. For instance, in large-scale projects such as redeveloping urban areas or constructing new infrastructure, white spirits play a crucial role in ensuring proper surface treatment and coating application, thereby enhancing the durability and longevity of structures.

Additionally, rapid urbanization in recent years has contributed to the exponential growth of the construction industry on a large scale. As per the Handbook of Statistics 2023 published by the United Nations Conference on Trade and Development (UNCTAD), an increasing percentage of the global populace resides in urban areas, with 52.5% residing in urban areas in 2012. The proportion of the population residing in urban areas was anticipated to have risen to 56.9% by 2022. In general, it is greater in developed nations (79.7 percent in 2022) than in developing nations.

Mexico, like many other emerging economies, is moving rapidly towards green and more environmentally friendly construction activities. Government regulations encouraging sustainable practices, the desire to lower energy costs as well as enhance building efficiency, and an increased awareness of environmental issues all contribute to this shift. Thus, as the regional nations continue to embrace sustainable practices in construction and manufacturing, the demand for white spirits in eco-friendly coatings and cleaning products is likely to increase.

Based on Grade, the market is segmented into Low Flash Point, Regular Flash Point and High Flash Point. Based on Application, the market is segmented into Paint Thinner, Solvent Extraction, Cleaning Solvent, Degreasing Solvent and Others. Based on Product Type, the market is segmented into Type 1, Type 2, Type 3, and Type 0. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

List of Key Companies Profiled

  • Idemitsu Kosan Co., Ltd.
  • Shell plc
  • Exxon Mobil Corporation
  • TotalEnergies SE
  • Thai Oil Public Company Limited (Petroleum Authority of Thailand (PTT))
  • Indian Oil Corporation Ltd.
  • Bharat Petroleum Corporation Limited
  • DHC Solvent Chemie GmbH (BP Europa SE)
  • Rahaoil, Inc.
  • Alshall International Co.

Market Report Segmentation

By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Low Flash Point
  • Regular Flash Point
  • High Flash Point
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Paint Thinner
  • Solvent Extraction
  • Cleaning Solvent
  • Degreasing Solvent
  • Others
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Type 1
  • Type 2
  • Type 3
  • Type 0
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • US
  • Canada
  • Mexico
  • Rest of North America

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America White Spirits Market, by Grade
1.4.2 North America White Spirits Market, by Application
1.4.3 North America White Spirits Market, by Product Type
1.4.4 North America White Spirits Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. North America White Spirits Market by Grade
4.1 North America Low Flash Point Market by Country
4.2 North America Regular Flash Point Market by Country
4.3 North America High Flash Point Market by Country
Chapter 5. North America White Spirits Market by Application
5.1 North America Paint Thinner Market by Country
5.2 North America Solvent Extraction Market by Country
5.3 North America Cleaning Solvent Market by Country
5.4 North America Degreasing Solvent Market by Country
5.5 North America Others Market by Country
Chapter 6. North America White Spirits Market by Product Type
6.1 North America Type 1 Market by Country
6.2 North America Type 2 Market by Country
6.3 North America Type 3 Market by Country
6.4 North America Type 0 Market by Country
Chapter 7. North America White Spirits Market by Country
7.1 US White Spirits Market
7.1.1 US White Spirits Market by Grade
7.1.2 US White Spirits Market by Application
7.1.3 US White Spirits Market by Product Type
7.2 Canada White Spirits Market
7.2.1 Canada White Spirits Market by Grade
7.2.2 Canada White Spirits Market by Application
7.2.3 Canada White Spirits Market by Product Type
7.3 Mexico White Spirits Market
7.3.1 Mexico White Spirits Market by Grade
7.3.2 Mexico White Spirits Market by Application
7.3.3 Mexico White Spirits Market by Product Type
7.4 Rest of North America White Spirits Market
7.4.1 Rest of North America White Spirits Market by Grade
7.4.2 Rest of North America White Spirits Market by Application
7.4.3 Rest of North America White Spirits Market by Product Type
Chapter 8. Company Profiles
8.1 Idemitsu Kosan Co., Ltd.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 SWOT Analysis
8.2 Shell plc
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 Exxon Mobil Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 SWOT Analysis
8.4 TotalEnergies SE
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Thai Oil Public Company Limited (Petroleum Authority of Thailand (PTT))
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 SWOT Analysis
8.6 Indian Oil Corporation Ltd.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 Bharat Petroleum Corporation Limited
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 SWOT Analysis
8.8 DHC Solvent Chemie GmbH (BP Europa SE)
8.8.1 Company Overview
8.8.2 SWOT Analysis
8.9 Rahaoil, Inc.
8.9.1 Company Overview
8.10. Alshall International Co.
8.10.1 Company Overview

Companies Mentioned

  • Idemitsu Kosan Co., Ltd.
  • Shell plc
  • Exxon Mobil Corporation
  • TotalEnergies SE
  • Thai Oil Public Company Limited (Petroleum Authority of Thailand (PTT))
  • Indian Oil Corporation Ltd.
  • Bharat Petroleum Corporation Limited
  • DHC Solvent Chemie GmbH (BP Europa SE)
  • Rahaoil, Inc.
  • Alshall International Co.

Methodology

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