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The global white spirit market reached a value of about USD 7.26 billion in 2023. The industry is further expected to grow at a CAGR of about 5.4% in the forecast period of 2024-2032 to reach a value of around USD 11.63 billion by 2032.
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The Asia Pacific is one of the leading regions for the industry, with the industry projected to witness a significant growth rate in the region in the coming years. Population growth, rapid urbanisation, and growing disposable incomes are expected to play a significant role in driving the industry growth in the coming years, particularly in countries like China, India, and Thailand. In these countries, the increasing infrastructural developments and rising construction activities are expected to bolster the demand for white spirit. European countries like Germany and the United Kingdom also contribute to the significant global demand for white spirit, with the demand mostly stemming from the paints and coatings industry in these countries.
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White spirit, also variously known as mineral turpentine, turpentine substitute, or mineral spirits, is a clear liquid derived from petroleum, which finds extensive use as a solvent in painting. It is, thus, widely used in the automotive, paints and coatings, manufacturing, design, and building and construction sectors. It could be used as a solvent cleaner, extractive resolver, degreasing solvent, aerosol solvent, lacquer, and wood preservation agent, among others, due to its high solubility.
Based on type, the industry can be divided into the following:
The grades of the product can be divided into:
White spirit finds applications in the following segments:
The regional markets for white spirit can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The booming paints and coatings sector, as well as the increasing demand for cleaning and degreasing solvents, mainly stimulate the development of the global market for white spirits. The rising activities in the construction sector and the growing automobile industry have propelled the demand for a synthetic paint thinner in emerging regions. This has also increased the demand for white spirits. In addition, the global white spirits market is expected to be driven by factors, such as the growing demand for oil exploration, shift in demography, and better global economic conditions. In addition, the rising customer inclinations toward low aromatic white spirits could, in the near future, generate high growth prospects for the white spirit industry globally.
The report gives a detailed analysis of the following key players in the global white spirit market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Grade |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global White Spirit Market Analysis
8.1 Key Industry Highlights
8.2 Global White Spirit Historical Market (2018-2023)
8.3 Global White Spirit Market Forecast (2024-2032)
8.4 Global White Spirit Market by Type
8.4.1 Type 0
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Type 1
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Type 2
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Type 3
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global White Spirit Market by Grade
8.5.1 Low Flash Point
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Medium Flash Point
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 High Flash Point
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global White Spirit Market by Application
8.6.1 Paints Thinner
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Cleaning
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Degreasing
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Fuel
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Disinfectant
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global White Spirit Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America White Spirit Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe White Spirit Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific White Spirit Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America White Spirit Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa White Spirit Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Analysis (HS Code - 271015)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Manufacturing Process
18.1 Overview
18.2 Detailed Process Flow
18.3 Operation Involved
19 Competitive Landscape
19.1 Market Structure
19.2 Company Profiles
19.2.1 ExxonMobil Corporation
19.2.1.1 Company Overview
19.2.1.2 Product Portfolio
19.2.1.3 Demographic Reach and Achievements
19.2.1.4 Certifications
19.2.2 Total S.A.
19.2.2.1 Company Overview
19.2.2.2 Product Portfolio
19.2.2.3 Demographic Reach and Achievements
19.2.2.4 Certifications
19.2.3 Royal Dutch Shell Plc
19.2.3.1 Company Overview
19.2.3.2 Product Portfolio
19.2.3.3 Demographic Reach and Achievements
19.2.3.4 Certifications
19.2.4 Neste Oyj
19.2.4.1 Company Overview
19.2.4.2 Product Portfolio
19.2.4.3 Demographic Reach and Achievements
19.2.4.4 Certifications
19.2.5 GSB Chemicals
19.2.5.1 Company Overview
19.2.5.2 Product Portfolio
19.2.5.3 Demographic Reach and Achievements
19.2.5.4 Certifications
19.2.6 CEPSA Química, S.A.
19.2.6.1 Company Overview
19.2.6.2 Product Portfolio
19.2.6.3 Demographic Reach and Achievements
19.2.6.4 Certifications
19.2.7 Haltermann Carless
19.2.7.1 Company Overview
19.2.7.2 Product Portfolio
19.2.7.3 Demographic Reach and Achievements
19.2.7.4 Certifications
19.2.8 DHC Solvent Chemie GmbH
19.2.8.1 Company Overview
19.2.8.2 Product Portfolio
19.2.8.3 Demographic Reach and Achievements
19.2.8.4 Certifications
19.2.9 Others
20 Key Trends and Developments in the Market
Additional Customisations Available
1. Project Requirements and Cost Analysis
1.1 Land, Location, and Site Development
1.2 Construction
1.3 Plant Machinery
1.4 Cost of Raw Material
1.5 Packaging
1.6 Transportation
1.7 Utilities
1.8 Manpower
1.9 Other Capital Investment
List of Key Figures and Tables
1. Global White Spirit Market: Key Industry Highlights, 2018 and 2032
2. Global White Spirit Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global White Spirit Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global White Spirit Historical Market: Breakup by Grade (USD Billion), 2018-2023
5. Global White Spirit Market Forecast: Breakup by Grade (USD Billion), 2024-2032
6. Global White Spirit Historical Market: Breakup by Application (USD Billion), 2018-2023
7. Global White Spirit Market Forecast: Breakup by Application (USD Billion), 2024-2032
8. Global White Spirit Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global White Spirit Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America White Spirit Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America White Spirit Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe White Spirit Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe White Spirit Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific White Spirit Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific White Spirit Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America White Spirit Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America White Spirit Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa White Spirit Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa White Spirit Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Major Importing Countries by Volume
21. Major Exporting Countries by Volume
22. Major Importing Countries by Value
23. Major Exporting Countries by Value
24. North America Historical Price Trends and Forecast 2018-2032
25. Europe Historical Price Trends and Forecast 2018-2032
26. Asia Pacific Historical Price Trends and Forecast 2018-2032
27. Latin America Historical Price Trends and Forecast 2018-2032
28. Middle East and Africa Historical Price Trends and Forecast 2018-2032
29. Global White Spirit Market Structure
In 2023, the global white spirit market attained a value of nearly USD 7.26 billion.
The market is projected to grow at a CAGR of 5.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 11.63 billion by 2032.
The major drivers of the industry, such as rising disposable incomes, rapid urbanisation, growing population, rising demand for cleaning and degreasing solvents, increasing construction activities, and rising demand from the automobile industry, are expected to aid the market growth.
The key trends guiding the growth of the market include the rising oil exploration and growing customer inclinations toward low aromatic white spirits.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of white spirit in the industry are type 0, type 1, type 2, and type 3.
The major grades of the products in the market are low flash point, medium flash point, and high flash point.
The significant application segments in the industry are paints thinner, cleaning, degreasing, fuel, and disinfectant, among others.
The major players in the industry are ExxonMobil Corporation, Total S.A., Royal Dutch Shell Plc, Neste Oyj, GSB Chemicals, CEPSA Química, S.A., Haltermann Carless, and DHC Solvent Chemie GmbH, among others.
The global white spirit market attained a value of USD 7.26 billion in 2023, driven by rising demand from the paints and coatings industry. Aided by the growing construction activities, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.4%. The white spirit market is projected to reach USD 11.63 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market is segmented into type 0, type 1, type 2, and type 3. Based on grade, the industry is divided into low flash point, medium flash point, and high flash point. On the basis of application, the market is categorised into paints thinner, cleaning, degreasing, fuel, and disinfectant, among others. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include ExxonMobil Corporation, Total S.A., Royal Dutch Shell Plc, Neste Oyj, GSB Chemicals, CEPSA Química, S.A., Haltermann Carless, and DHC Solvent Chemie GmbH, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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