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White Spirit Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region

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    Report

  • 270 Pages
  • February 2024
  • Region: Global
  • Fairfield Market Research
  • ID: 5943076
Description Jump to:
The global white spirits market is poised for significant growth, with projections indicating a value surpassing $12.2 billion by the end of 2031. A comprehensive study by the publisher, analyzing trends and forecasts in the industry, reveals key insights into the drivers propelling this expansion and the strategies adopted by market participants to stay ahead in a competitive landscape.

White spirits, petroleum-derived compounds with diverse applications ranging from paint thinners to cleaning solvents, are witnessing robust demand worldwide. With a density of approximately 0.8 g/ml and a flash point between 21 - 68°C, these clear and flammable liquids are indispensable across various sectors.

Segment Analysis

The market is categorized into four types based on aromatic content, with Type 1 white spirits dominating the volume share. However, Type 3 white spirits, noted for their low aromatic content and minimal odor, are gaining traction, particularly in specialized applications such as paints and coatings.

Drivers of Growth

The surge in infrastructure development activities in regions like China, India, and ASEAN countries is fueling demand for white spirits, especially as paint thinners. Furthermore, the automotive industry's healthy growth is bolstering the consumption of paints and coatings, thereby augmenting the white spirits market. Additionally, the use of white spirits in cleaning and degreasing applications is creating new opportunities across diverse demographics.

Challenges and Opportunities

While the market outlook appears promising, stringent regulatory frameworks in North America and Europe present challenges to growth. Moreover, the increasing preference for eco-friendly solvents among consumers poses a threat to traditional white spirits. However, market players are leveraging research and development efforts to introduce low aromatic content white spirits (LAWS), aiming for a sustainable advantage. Additionally, strategic acquisitions are being pursued to expand product portfolios and consolidate market share.

Regional Outlook

East Asia, led by industrial powerhouses like China, Japan, and South Korea, remains a significant consumer of white spirits. In contrast, North America is expected to witness steady growth. Notably, South Asia Pacific, with India at the forefront, is poised for substantial expansion in value-volume terms.

Key Players

Prominent participants in the global white spirits market include:

  • ExxonMobil Corporation
  • Royal Dutch Shell Plc
  • Total S.A.
  • Idemitsu Kosan Co., Ltd.
  • Neste Oyj
  • Haltermann Carless Deutschland GmbH
  • DHC Solvent Chemie GmbH
  • GSB Chemical Co. Pty. Ltd.
  • Al Sanea Chemical Products
These players are actively engaged in research and development initiatives to innovate and diversify their product offerings. Additionally, strategic acquisitions of both small and large manufacturers are being pursued to enhance market presence and cater to evolving consumer demands.

Market Segmentation:

By Grade

  • Low Flash Grade
  • Regular Flash Grade
  • High Flash Grade

By Product Type

  • Type 1
  • Type 2
  • Type 3
  • Type 0

By Application

  • Paint Thinner
  • Cleaning Solvent
  • Degreasing Solvent
  • Fuel
  • Disinfectants
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East & Africa


This product will be delivered within 1-3 business days.

Table of Contents

1. Executive Summary
1.1. Global White Spirit Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global White Spirit Market Outlook, 2018 - 2031
3.1. Global White Spirit Market Outlook, by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
3.1.1. Key Highlights
3.1.1.1. Type 0
3.1.1.2. Type 1
3.1.1.3. Type 2
3.1.1.4. Type 3
3.2. Global White Spirit Market Outlook, by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
3.2.1. Key Highlights
3.2.1.1. Low
3.2.1.2. Medium
3.2.1.3. High
3.3. Global White Spirit Market Outlook, by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
3.3.1. Key Highlights
3.3.1.1. Thinner & Solvent
3.3.1.2. Cleaning Agent
3.3.1.3. Degreasing Agent
3.3.1.4. Fuels
3.3.1.5. Others
3.4. Global White Spirit Market Outlook, by Region, Value (US$ OLD) and Volume (Tons), 2018 - 2031
3.4.1. Key Highlights
3.4.1.1. North America
3.4.1.2. Europe
3.4.1.3. Asia Pacific
3.4.1.4. Latin America
3.4.1.5. Middle East & Africa
4. North America White Spirit Market Outlook, 2018 - 2031
4.1. North America White Spirit Market Outlook, by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.1.1. Key Highlights
4.1.1.1. Type 0
4.1.1.2. Type 1
4.1.1.3. Type 2
4.1.1.4. Type 3
4.2. North America White Spirit Market Outlook, by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.2.1. Key Highlights
4.2.1.1. Low
4.2.1.2. Medium
4.2.1.3. High
4.3. North America White Spirit Market Outlook, by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.3.1. Key Highlights
4.3.1.1. Thinner & Solvent
4.3.1.2. Cleaning Agent
4.3.1.3. Degreasing Agent
4.3.1.4. Fuels
4.3.1.5. Others
4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America White Spirit Market Outlook, by Country, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.4.1. Key Highlights
4.4.1.1. U.S. White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.4.1.2. U.S. White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.4.1.3. U.S. White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.4.1.4. Canada White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.4.1.5. Canada White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.4.1.6. Canada White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
4.4.2. BPS Analysis/Market Attractiveness Analysis
5. Europe White Spirit Market Outlook, 2018 - 2031
5.1. Europe White Spirit Market Outlook, by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. Type 0
5.1.1.2. Type 1
5.1.1.3. Type 2
5.1.1.4. Type 3
5.2. Europe White Spirit Market Outlook, by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Low
5.2.1.2. Medium
5.2.1.3. High
5.3. Europe White Spirit Market Outlook, by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.3.1. Key Highlights
5.3.1.1. Thinner & Solvent
5.3.1.2. Cleaning Agent
5.3.1.3. Degreasing Agent
5.3.1.4. Fuels
5.3.1.5. Others
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe White Spirit Market Outlook, by Country, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1. Key Highlights
5.4.1.1. Germany White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.2. Germany White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.3. Germany White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.4. U.K. White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.5. U.K. White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.6. U.K. White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.7. France White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.8. France White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.9. France White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.10. Italy White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.11. Italy White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.12. Italy White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.13. Turkey White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.14. Turkey White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.15. Turkey White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.16. Russia White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.17. Russia White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.18. Russia White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.19. Rest of Europe White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.20. Rest of Europe White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.1.21. Rest of Europe White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
5.4.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific White Spirit Market Outlook, 2018 - 2031
6.1. Asia Pacific White Spirit Market Outlook, by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.1.1. Key Highlights
6.1.1.1. Type 0
6.1.1.2. Type 1
6.1.1.3. Type 2
6.1.1.4. Type 3
6.2. Asia Pacific White Spirit Market Outlook, by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.2.1. Key Highlights
6.2.1.1. Low
6.2.1.2. Medium
6.2.1.3. High
6.3. Asia Pacific White Spirit Market Outlook, by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.3.1. Key Highlights
6.3.1.1. Thinner & Solvent
6.3.1.2. Cleaning Agent
6.3.1.3. Degreasing Agent
6.3.1.4. Fuels
6.3.1.5. Others
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific White Spirit Market Outlook, by Country, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1. Key Highlights
6.4.1.1. China White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.2. China White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.3. China White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.4. Japan White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.5. Japan White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.6. Japan White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.7. South Korea White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.8. South Korea White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.9. South Korea White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.10. India White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.11. India White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.12. India White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.13. Southeast Asia White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.14. Southeast Asia White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.15. Southeast Asia White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.16. Rest of Asia Pacific White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.17. Rest of Asia Pacific White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.1.18. Rest of Asia Pacific White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
6.4.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America White Spirit Market Outlook, 2018 - 2031
7.1. Latin America White Spirit Market Outlook, by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.1.1. Key Highlights
7.1.1.1. Type 0
7.1.1.2. Type 1
7.1.1.3. Type 2
7.1.1.4. Type 3
7.2. Latin America White Spirit Market Outlook, by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.2.1.1. Low
7.2.1.2. Medium
7.2.1.3. High
7.3. Latin America White Spirit Market Outlook, by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.3.1. Key Highlights
7.3.1.1. Thinner & Solvent
7.3.1.2. Cleaning Agent
7.3.1.3. Degreasing Agent
7.3.1.4. Fuels
7.3.1.5. Others
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America White Spirit Market Outlook, by Country, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1. Key Highlights
7.4.1.1. Brazil White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.2. Brazil White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.3. Brazil White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.4. Mexico White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.5. Mexico White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.6. Mexico White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.7. Argentina White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.8. Argentina White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.9. Argentina White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.10. Rest of Latin America White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.11. Rest of Latin America White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.1.12. Rest of Latin America White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
7.4.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa White Spirit Market Outlook, 2018 - 2031
8.1. Middle East & Africa White Spirit Market Outlook, by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.1.1. Key Highlights
8.1.1.1. Type 0
8.1.1.2. Type 1
8.1.1.3. Type 2
8.1.1.4. Type 3
8.2. Middle East & Africa White Spirit Market Outlook, by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.2.1. Key Highlights
8.2.1.1. Low
8.2.1.2. Medium
8.2.1.3. High
8.3. Middle East & Africa White Spirit Market Outlook, by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.3.1. Key Highlights
8.3.1.1. Thinner & Solvent
8.3.1.2. Cleaning Agent
8.3.1.3. Degreasing Agent
8.3.1.4. Fuels
8.3.1.5. Others
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa White Spirit Market Outlook, by Country, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1. Key Highlights
8.4.1.1. GCC White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.2. GCC White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.3. GCC White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.4. South Africa White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.5. South Africa White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.6. South Africa White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.7. Egypt White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.8. Egypt White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.9. Egypt White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.10. Rest of Middle East & Africa White Spirit Market by Type, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.11. Rest of Middle East & Africa White Spirit Market by Flash Point, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.1.12. Rest of Middle East & Africa White Spirit Market by Application, Value (US$ OLD) and Volume (Tons), 2018 - 2031
8.4.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. By Application vs by Flash Point Heat map
9.2. Manufacturer vs by Flash Point Heatmap
9.3. Company Market Share Analysis, 2023
9.4. Competitive Dashboard
9.5. Company Profiles
9.5.1. Shell Plc.
9.5.1.1. Company Overview
9.5.1.2. Product Portfolio
9.5.1.3. Financial Overview
9.5.1.4. Business Strategies and Development
9.5.2. Total SA
9.5.2.1. Company Overview
9.5.2.2. Product Portfolio
9.5.2.3. Financial Overview
9.5.2.4. Business Strategies and Development
9.5.3. ExxonMobil Corp
9.5.3.1. Company Overview
9.5.3.2. Product Portfolio
9.5.3.3. Financial Overview
9.5.3.4. Business Strategies and Development
9.5.4. Idemitsu Kosan Co.Ltd
9.5.4.1. Company Overview
9.5.4.2. Product Portfolio
9.5.4.3. Financial Overview
9.5.4.4. Business Strategies and Development
9.5.5. Bharat Petroleum Corporation Limited
9.5.5.1. Company Overview
9.5.5.2. Product Portfolio
9.5.5.3. Financial Overview
9.5.5.4. Business Strategies and Development
9.5.6. Indian Oil Corporation Limited
9.5.6.1. Company Overview
9.5.6.2. Product Portfolio
9.5.6.3. Financial Overview
9.5.6.4. Business Strategies and Development
9.5.7. Thai Oil Company
9.5.7.1. Company Overview
9.5.7.2. Product Portfolio
9.5.7.3. Financial Overview
9.5.7.4. Business Strategies and Development
9.5.8. Neste Oyj
9.5.8.1. Company Overview
9.5.8.2. Product Portfolio
9.5.8.3. Financial Overview
9.5.8.4. Business Strategies and Development
9.5.9. Haltermann Carless
9.5.9.1. Company Overview
9.5.9.2. Product Portfolio
9.5.9.3. Financial Overview
9.5.9.4. Business Strategies and Development
9.5.10. DHC Solvent Chemie GmbH
9.5.10.1. Company Overview
9.5.10.2. Product Portfolio
9.5.10.3. Financial Overview
9.5.10.4. Business Strategies and Development
9.5.11. GSB Chemical Co. Pty. Ltd.
9.5.11.1. Company Overview
9.5.11.2. Product Portfolio
9.5.11.3. Financial Overview
9.5.11.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

Companies Mentioned

  • ExxonMobil Corporation
  • Royal Dutch Shell Plc
  • Total S.A.
  • Idemitsu Kosan Co., Ltd.
  • Neste Oyj
  • Haltermann Carless Deutschland GmbH
  • DHC Solvent Chemie GmbH
  • GSB Chemical Co. Pty. Ltd.
  • Al Sanea Chemical Products

Methodology

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