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White spirits market

White Spirits Market, By Application (Type 1, Type 2, Type 3, Type 0), By Grade (Low Flash Grade, Regular Flash Grade, High Flash Grade), By Application (Paint Thinner, Cleansing Solvent, Degreasing Solvent, Fuel Disinfectant, Others (Additives in Oil & Lubricants, Cutting Fluid, etc.)), and By Regions (Asia Pacific, Europe, North America, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

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  • Jan 2021
  • CMI3273
  • 120 Pages
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  • Bulk Chemicals

White spirit is also referred to as mineral turpentine, is a petroleum-based clear liquid that is used as an organic solvent in paint industry. White spirit consists of alicyclic-, aliphatic-, and aromatic-hydrocarbons with carbon numbers ranging from C7 to C12. They are mainly used as a paint thinner and as a solvent for extraction, degreasing, and cleaning the machine components. It is an inexpensive petroleum-derived substitute for the vegetable-based turpentine. It is less flammable and less toxic and is also used to thin inks for making mono-prints.

The global white spirits market was valued at US$ 10,551.3 Mn in 2019 and is predicted to reach US$ 13,575.2 Mn by the end of 2027, growing at a CAGR of 3.2% during the forecast period (2020 to 2027).

Drivers

Strong economic growth and changing demographics across major countries such as Brazil, Russia, China, and India is expected to propel the demand for white spirit. Moreover, the development of infrastructure across the developing region coupled with the growing demand for white spirit from the automotive industry is another major factor projected to fuel the market growth of the white spirit. Furthermore, the rising number of the manufacturing industry around the globe is also expected to foster the market growth of white spirit over the forecast period.

Growing demand for the white spirit as a turpentine substitute as it is an inexpensive petroleum-derived product commonly used as a paint thinner for oil-based paint and cleaning brushes is expected to fuel the market growth of white spirit. Moreover, rising demand for white spirit from artists since it is less flammable and comparatively less toxic is also projected to foster the market growth of white spirit over the forecast period. Furthermore, it is also preferred by end-user because it doesn't contain any residual sulfur.

Regionally, Middle East & Africa region dominated the global white spirits market in 2019, accounting for around 32% share in terms of value, followed by Asia Pacific and North America, respectively

Figure 1. Global White Spirits Market, Revenue Share (%), By Region, 2019

Market Restraints

The risk associated with the usage of white spirits as acute exposure can cause central nervous system depression, resulting in a lack of coordination are expected to hinder the market growth. Moreover, exposure to white spirits can also create narcotic effects such as drowsiness, dizziness, nausea, etc. Hence, such side-effects associated with the usage of white spirits is expected to restrict market growth.

Growing demand for the bio-based product is expected to curb the market growth of the white spirit over the forecast period. Crude oil-based solvents such as white spirits are a key component of paints, coatings, and inks. However, these solvent-based paints, coatings, and inks, release a high amount of VOCs as compared to other bio-based alternatives due to which most of the manufacturers are focusing on introducing a bio-based white spirit. Hence, growing demand for bio-based white spirit is expected to restrict market growth.

White Spirits Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 10,551.3 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 3.2% 2027 Value Projection: US$ 13,575.2 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, Rest of Asia Pacific
  • Middle East & Africa: South Africa, GCC Countries, Rest of Middle East & Africa
Segments covered:
  • By Product Type: Type 1, Type 2, Type 3, and Type 0
  • By Application: Paint Thinner, Cleansing Solvent, Degreasing Solvent, Fuel, Disinfectant, and Others
  • By Grades: Low Flash Grade, Regular Flash Grade, High Flash Grade
Companies covered:

ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., Compañía Española de Petróleos, S.A.U. (CEPSA), Neste Oyj, Haltermann Carless Deutschland GmbH, DHC Solvent Chemie GmbH, Al Sanea Chemical Products, and GSB Chemical Co. Pty. Ltd.
Growth Drivers:
  • Strong economic growth and changing demographics across major countries
  • Growing demand for the white spirit as a turpentine substitute as it is an inexpensive petroleum-derived product
Restraints & Challenges:
  • Risk associated with the usage of white spirits as acute exposure can cause central nervous system depression

Market Opportunities

The rising launch of new and innovative products in the white spirit is expected to fuel market growth over the forecast period. For instance, in October 2017, THAI Beverage Plc (ThaiBev), Thailand’s biggest beverage and food conglomerate, announced the launch of a new white spirit product – Ruang Khao Silver – to tap core white spirit markets in Myanmar, Vietnam and the Philippines. Hence, the increasing launch of a new and innovative product is projected to fuel market growth.

Ongoing urbanization, increasing population, and rising per capita income of the consumers are some of the other important factors fueling the market in the Asia Pacific. According to the Economic Times, the per capita net national income of India during 2017-18 is estimated to be Rs 1,11,782 showing a rise of 8.3 percent as compared to Rs 1,03,219 during 2016-17 with the growth rate of 9.7 per cent. Hence, the rising per capita income of the individuals in the Asia Pacific region is expected to fuel the market growth. 

Figure 2. Global White Spirits Market – Opportunity Analysis

Market Trends

Expanding chemical industry is another major factor that is expected to propel the product demand over the forecast period. According to the KPMG, the Asia chemical industry is the world leader in terms of ethylene production. More than 30 million ton of production comes from Asia, compared to the 25.3 million tons which originate from the United States. Hence, expanding chemical industry is expected to fuel market growth.

The rising production of automobiles in the U.S region is expected to foster market growth over the forecast period. In 2018, the U.S. automotive industry contributed 2.7% to U.S. gross domestic product. That's US$ 545.4 billion out of the total $20.5 trillion produced. Of that, US$ 327.1 billion was auto manufacturing and US$ 218.3 billion was vehicle retail sales. The white spirit has a wide range of applications in the automotive industry.

Figure 3. Global White Spirits Market, Revenue Share (%), By Grades, in 2019

Based on grades, white spirits market is segregated into low flash grade, regular flash grade, and high flash grade. Wherein, in 2019, regular flash grade segment accounted for the revenue share of 58.6% in the global white spirits market, followed by high flash grade and low flash grade.

Global White Spirits Market - Impact of Coronavirus (Covid-19) Pandemic

As the impact of the ongoing pandemic on the global white spirits market continues to come into focus. Moreover, paints & coating manufacturers have started operating their production facilities in Q3 of 2020 which has helped in boosting the growth of the market last year

Regulations

In 2007, the Scientific Committee on Occupational Exposure Limits (SCOEL) proposed the following value as recommended occupational limit value for white spirits: 20 ppm (116 mg/m³) as 8 h average level, 50 ppm (290 mg/m³) as 15 min short-term exposure limit (STEL) level.

Competitive Section

Players active in the market are ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., Compañía Española de Petróleos, S.A.U. (CEPSA), Neste Oyj, Haltermann Carless Deutschland GmbH, DHC Solvent Chemie GmbH, Al Sanea Chemical Products, and GSB Chemical Co. Pty. Ltd.

Few Recent Developments

Total S.A.

  • In June 2015, Total S.A. signed a collaborative agreement with Neste Oyj for the supply of renewable isoalkane used as feedstock by the former for the production of bio-based solvents. These solvents are meant for applications in paints and coatings, drilling, printing inks, cosmetics, and industrial fluids.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By Grade
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global White Spirits Market, By Product Type, 2017 - 2027 (US$ Million & Thousand Metric Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Type 1
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Type 2
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Type 3
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Type 0
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
  5. Global White Spirits Market, By Grade, 2017 - 2027 (US$ Million & Thousand Metric Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Low Flash Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Regular Flash Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • High Flash Grade
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
  6. Global White Spirits Market, By Application, 2017 - 2027 (US$ Million & Thousand Metric Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Paint Thinner
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Cleansing Solvent
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Degreasing Solvent
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Fuel
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
    • Disinfectant
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2020 - 2027, (US$ Mn and Thousand Metric Tons)
  7. Global White Spirits Market, By Region, 2017- 2027 (US$ Million & Thousand Metric Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • Germany
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • France
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Oceania
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2020 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Turkey
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
        • Rest of Middle East & Africa
          • Country Trends
          • Market Size and Forecast, By Product Type, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Grade, 2017- 2027 (US$ Million & Thousand Metric Tons)
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million & Thousand Metric Tons)
  8. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • ExxonMobil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Royal Dutch Shell Plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Total S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Idemitsu Kosan Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Compañía Española de Petróleos, S.A.U. (CEPSA)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Neste Oyj
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Haltermann Carless Deutschland GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • DHC Solvent Chemie GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Al Sanea Chemical Products
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • GSB Chemical Co. Pty. Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "White Spirits Market” - Global forecast to 2027.

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- Frequently Asked Questions -

What will the market size be in 2027 and at what rate will it grow?

The market for global White Spirits is forecast to surpass US$ 13,575.2 Mn by 2027 witnessing a CAGR of 3.2% between 2020 and 2027.

What are the Major growth driving factors for the market during the forecast period?

Strong economic growth and changing demographics across major countries by major players is fuelling the growth of the market in the region.

What are the trends in the global White Spirits market?

Expanding chemical industry across the globe is expected to favor market growth over the forecast period.

What are the key factors hampering the growth of the global market?

Risk associated with the usage of white spirits as acute exposure can cause central nervous system depression is expected to hamper the growth the market during the forecast period.

Which are the key players forming the competitive landscape?

Major players operating in the global White Spirits market include ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., Compañía Española de Petróleos, S.A.U. (CEPSA), Neste Oyj, Haltermann Carless Deutschland GmbH, DHC Solvent Chemie GmbH, Al Sanea Chemical Products, and GSB Chemical Co. Pty. Ltd.

What is the current market size?

The market was estimated to be valued around US$ 10,551.3 Mn in terms of revenue in 2019.
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