Global White Spirit Market Size is valued at USD 7.6 Billion in 2024 and is predicted to reach USD 15.1 Billion by the year 2034 at an 7.2% CAGR during the forecast period for 2025-2034.
Key Industry Insights & Findings from the Report:
White spirit is water-insoluble and is used as a solvent, cleaning agent, degreaser, and solvent in aerosols, acrylics, surface coatings, coatings, and asphalt applications. The most popular solvent in the paint business is white spirit. Some elements, like the increased need for oil exploration, shifting demography, and improved global economic prospects, are projected to fuel the global white spirit market. The trend toward brand extension among consumers has helped producers enjoy higher profit margins and sales volumes.
In addition to successful marketing initiatives by businesses, the rising popularity of cocktail culture is supporting the trend toward premium products. Millennials have a pronounced shift in a preference for white spirit alcohol due to various flavours and additives. The need for oil drilling is anticipated to rise due to shifting demographics and an expected improvement in the global economy. Profitable opportunities will likely materialize shortly due to customers' growing desire for low-aromatic white spirits.
The white spirit market is segmented based on product and application. Based on product, the market is segmented as type 0, type 1, type 2, and type 3. By application, the market is segmented into solvent extraction, paint thinner, cleaning, degreasing, fuel, and disinfectant.
The type 1 category is expected to hold a major share of the global white spirit market in 2021. Type 1 white spirits are used in the petrochemical industry to remove sulfur from energy resources, and refined crude oil differs according to the type, which has a boiling range of 130-144 °C (266-291 °F).
The paint thinner segment is projected to grow rapidly in the global white spirit market. White spirits are used as diethyl ether, a paint thinner, and for cleansing brushes. Mineral spirits and white spirits are both utilized as solvents. Hence they are frequently employed in paint thinner applications. Following petroleum textile and plastisol inks, white spirits are frequently used in screen printing to clean and unclog screens. The inks used to create monoprints are also thinned using them. White spirits are frequently used in directions and gauges that contain liquid., especially in countries such as the US, Germany, the UK, China, and India.
The North America white spirit market is expected to register the highest market share in revenue shortly. Significant expansion of the North American paint and coatings market, particularly in the United States, resulted from rising demand from the automotive and transportation sectors. Population expansion, rapid urbanization, and increasing disposable incomes will significantly contribute to the industry's growth in the upcoming years. In addition, the Asia Pacific region is projected to grow rapidly in the global White Spirit market. The construction sector is rising in the area, boosting demand for painting and coatings, which is one of the main factors driving the economy's growth. The rise of the regional sector is expected to be heavily influenced by factors including increasing population, modernization, and disposable income growth in countries like China, India, and Thailand.
|
Report Attribute |
Specifications |
|
Market size value in 2024 |
USD 7.6 Billion |
|
Revenue forecast in 2034 |
USD 15.1 Billion |
|
Growth rate CAGR |
CAGR of 7.2% from 2025 to 2034 |
|
Quantitative units |
Representation of revenue in US$ Mn, and CAGR from 2025 to 2034 |
|
Historic Year |
2021 to 2024 |
|
Forecast Year |
2025-2034 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
Product, Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Shell plc, Exxon Mobil Corporation, Bharat Petroleum Corporation Limited, Indian Oil Corporation Ltd., Neste, KAPCO Petroleum Industries FZC, DHC Solvent Chemic GmbH, Thai Oil Grou, TotalEnergies, Idemitsu Kosan Co., Ltd. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global White Spirit Market Snapshot
Chapter 4. Global White Spirit Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2024 & 2034
5.2. Market Size (Value (US$ Mn) & Volume (Kiloton) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Product Type:
5.2.1. Type 0
5.2.2. Type 1
5.2.3. Type 2
5.2.4. Type 3
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2024 & 2034
6.2. Market Size (Value (US$ Mn) & Volume (Kiloton) & Forecasts and Trend Analyses, 2021 to 2034 for the following by Application:
6.2.1. Solvent extraction
6.2.2. Paint thinner
6.2.3. Cleaning solvent
6.2.4. Degreasing solvent
6.2.5. Others
Chapter 7. White Spirit Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) Estimates and Forecasts by Product Type, 2021-2034
7.1.2. North America White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) Estimates and Forecasts by Application, 2021-2034
7.1.3. North America White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) Estimates and Forecasts by country, 2021-2034
7.2. Europe
7.2.1. Europe White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Product Type, 2021-2034
7.2.2. Europe White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Application, 2021-2034
7.2.3. Europe White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by country, 2021-2034
7.3. Asia Pacific
7.3.1. Asia Pacific White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Product Type, 2021-2034
7.3.2. Asia Pacific White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Application, 2021-2034
7.3.3. Asia Pacific White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by country, 2021-2034
7.4. Latin America
7.4.1. Latin America White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Product Type, 2021-2034
7.4.2. Latin America White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Application, 2021-2034
7.4.3. Latin America White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by country, 2021-2034
7.5. Middle East & Africa
7.5.1. Middle East & Africa White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Product Type, 2021-2034
7.5.2. Middle East & Africa White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by Application, 2021-2034
7.5.3. Middle East & Africa White Spirit Market Revenue (US$ Mn) & Volume (Kiloton) by country, 2021-2034
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Shell plc
8.2.2. Exxon Mobil Corporation
8.2.3. Bharat Petroleum Corporation Limited
8.2.4. Indian Oil Corporation Ltd.
8.2.5. Neste
8.2.6. KAPCO Petroleum Industries FZC
8.2.7. DHC Solvent Chemic GmbH
8.2.8. Thai Oil Grou
8.2.9. TotalEnergies
8.2.10. Idemitsu Kosan Co., Ltd.
8.2.11. Other Prominent Players
White Spirit Market Product Type Outlook
White Spirit Market Application Outlook
White Spirit Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
