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    White Spirit Market Report

    White Spirit Market Report
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    White Spirit Market Size, Share, Trend, Forecast, & Industry Analysis – 2021-202 See more...

    Impact of COVID-19 on White Spirit Market

    Covid-19 has impacted the market dynamics, competition, and global...

    See more...

    Impact of COVID-19 on White Spirit Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    White Spirit market is likely to witness a CAGR of 4.2% during the forecast period. The prime factor contributing to the demand for white spirit is mainly the increasing demand for paints and coatings from a wide array of industries.

    White Spirit Market - Snapshot

    Growth

    4.2% for the next five years

    Major Application Type

    Thinner & Solvent

    Dominant Type

    Type 2

    Region with the highest demand

    Asia-Pacific

    Key Players

    Royal Dutch Shell, Total SA, ExxonMobil, Idemitsu Kosan Co. Ltd, Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, and Thai Oil Company.

    Segment Analysis

    White-Spirit-Market-Dominant-Segments

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    White Spirit Market Share: By Type

    Based on the type, the market is segmented as Type 0, Type 1, Type 2, and Type 3. The Type 2 segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. Increasing demand for Type 2 white spirit from the paint & coating, adhesives, and cleaning chemical manufacturers is the major factor contributing towards its dominance.

    White Spirit Market Share: By Application Type

    Based on the application type, the market is segmented as thinner & solvent, fuels, cleaning agent, and degreasing agent. Thinner & solvent application is likely to remain the dominant application of the market during the forecast period. White spirit plays a crucial role in the manufacturing of solvent-based paints & coatings, where it is used as a thinner. In the paints & coatings industry, white spirit acts as a thinner to reduce its viscosity and provides a slower rate of evaporation.

    White Spirit Market Share: By Region

    In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for white spirit during the forecast period, with China, Japan, India, and South Korea being the major countries with lucrative growth opportunities. The growth of the market is majorly driven by significant economic development in the regions and expanding construction industry, which in turn, is fueling the demand for paints & coatings in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

    White-Spirit-Market-By-Region

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    Market Scope & Segmentation

    White Spirit or mineral seat or mineral turpentine oil (MTO) is a petrochemical solvent, which contains C7 to C12 aliphatic, acyclic, and aromatic hydrocarbons with a boiling range varying between 65-230°C. It is a clear, colorless, and flammable liquid with flash points ranging between 21-68 °C and an aromatic content ranging between 2% to 25%.

    White Spirits are usually of four types (type 0, type 1, type 2, and type 3) that are produced as the fractional distillation fractions from naphtha and kerosene cut of crude oil. They are majorly used in applications such as thinner & solvent, fuels, cleansing agent, and degreasing agent.

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    White Spirit Market Research Report - Features

    Market Segmentation

    4

    Regions Covered

    4

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >150

    Company Profiles

    10

     

    The white spirit market is segmented into the following categories. 

    White Spirit Market Size, Share, & Forecast, by Type:

    • Type 0 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Type 1 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Type 2 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Type 3 (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    White Spirit Market Size, Share, & Forecast, by Flash Point Type:

    • Low (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Medium (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • High (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    White Spirit Market Size, Share, & Forecast, by Application Type:

    • Thinner & Solvent (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Fuels (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Cleansing Agent (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Degreasing Agent (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    White Spirit Market Size, Share, & Forecast, by Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

    White-Spirit-Market-Segmentation

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    Key Players

    Some of the major suppliers of white spirit are-

    • Royal Dutch Shell
    • Total SA
    • ExxonMobil
    • Idemitsu Kosan Co. Ltd.
    • Bharat Petroleum Corporation Limited
    • Indian Oil Corporation Limited
    • Thai Oil Company.

    Research Methodology

    This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Market trend and forecast analysis
    • Market segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the types by application type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The white spirit market is expected to witness an impressive growth of 4.2% CAGR in the foreseeable future.

    Royal Dutch Shell, Total SA, ExxonMobil, Idemitsu Kosan Co. Ltd, Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, and Thai Oil Company are among the key players in the white spirit market.

    Asia-pacific is expected to be the largest white spirit market during the forecast period.

    Thinner & solvent application is expected to remain the dominant application in the white spirit market in the coming years.

    Type 2 is expected to remain dominant in the white spirit market during the next five years.

    The prime factor driving the growth of white spirit market is the increasing demand for paints and coatings from a wide array of industries.

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