GLOBAL WHITE SPIRITS MARKET FORECAST 2018-2026

Global White spirits market is estimated to grow with approx.6.56% CAGR during the year 2018 – 2026. The base year considered for the study is 2017 and the forecast period is 2018-2026. Global white spirits market is primarily driven by the following factors:

  • Booming paint and coatings industry
  • Growing demand for cleaning and degreasing solvents
  • Rising demand for oil exploration

The important driver increasing growth in the global White spirits market is the booming paint and coatings industry. The paint and coatings industry is a major consumer of solvents, which are mostly obtained from petrochemical feedstocks and refinery operations. The industry also uses additives that are dependent on crude oil. On a volume basis, approximately two-thirds of feedstocks are petrochemical. Due to the rapid year-on-year growth of the paint and coatings industry, as well as the use of paint thinners as solvents to thin oil-based paints, the market for paint thinners is expected to increase during the forecast period.

White spirits help to thin oil-based materials such as paint and varnish. White spirits have many advantages over traditional thinners. Different types of solvent and thinner are utilized in the paint and decoration industry. Lacquer thinners and mineral spirits are two of the thinners used for dissolving, thinning and cleaning oil-based paints. White spirits are used in the paint and coatings industry to help dry paint quickly and to create several types of paint for various purposes such as the use in buildings and automobiles, which is not possible using other solvents. Due to this, paint and coatings are the largest applications in the market for white spirits.

Toxic and hazardous nature of white spirits is the major factor hindering the white spirits market. Exposure to very high concentrations in enclosed spaces can lead to general narcotic effects (drowsiness, dizziness, nausea etc.) and can eventually lead to unconsciousness. Oral ingestion presents a high aspiration hazard. Prolonged or repeated skin exposure over a long period of time can result in severe irritant dermatitis, also called contact dermatitis. Exposure to the white spirit by direct contact with the skin for several hours can cause severe chemical burns.

The global white spirits market segments include product type, grade type and application.

Product types are segmented into:

  • Type 1 (Hydrodesulphurization)
  • Type 2 (Solvent Extraction)
  • Type 3 (Hydrogenation)
  • Type 0 (Distillation fraction with no further treatment)

Grade type is segmented into:

  • Low flash grade
  • Regular flash grade
  • High flash grade

Applications are segmented into:

  • Paint thinner
  • Cleaning solvent
  • Degreasing solvent
  • Fuel
  • Disinfectant
  • Others

Geographically, the Global White spirits market has been segmented on the basis of four major regions, which includes:

  • White Spirits North America Market - U.S. & Canada
  • White Spirits Asia Pacific Market- China, India, Japan, Australia, South Korea, RoAPAC
  • White Spirits Europe Market- UK, France, Germany, Spain, Italy, RoE
  • Rest of World

Asia Pacific region is anticipated to account the largest market share of the global white spirits market during 2018-2026. It is also expected to be the fastest growing market for white spirits in terms of both, volume and revenue. The major driver for the growth of the white spirits market in this region is the increasing construction activity and the growing automotive sector. Due to the absence of stringent regulations, major players have established new plants in the Asia-Pacific region. Increasing remodelling activity in India and China are expected to further propel the market growth in this region.

The White spirits Market is segmented based on product type which is sub-divided into type 1 (hydrodesulfurization), type 2 (solvent extraction), type 3 (hydrogenation), type 0 (Distillation fraction with no further treatment);  and is also segmented on the basis  of grade type which is sub-divided into low flash grade, regular flash grade and high flash grade.  On the basis of applications, the market is segmented into paint thinner, cleaning solvent, degreasing solvent, fuel, disinfectant, and others.

The major market players in the global white spirits market are:

  • EXXONMOBIL CORPORATION
  • DHC SOLVENT CHEMIE GMBH
  • ROYAL DUTCH SHELL PLC
  • TOTAL S.A.
  • GSB CHEMICALS
  • OTHERS

Company Profiles covers analysis of important players

These companies are using organic and inorganic strategies for growth. For instance, on 30th April 2018, PT Mitra Pinasthika Mustika Tbk (MPMX) and ExxonMobil (“EM”) signed a conditional sale and purchase agreement with EM to divest all of the shares owned by MPMX in PT Federal Karyatama (“FKT”) at Closing, which is subject to conditions including relevant regulatory and shareholders’ approval (the “Transaction”). On 20th June 2017, Total Energy Services Inc. (“Total Energy“) and Savanna Energy Services Corp. (“Savanna“) announced that Total Energy completed its acquisition of Savanna. Savanna shareholders approved the amalgamation of Savanna and Alberta Ltd, a wholly-owned subsidiary of Total Energy, with 99.99% shares vote cast in favour of the amalgamation.

Key Findings of the global white spirits market.

  • Booming paint and coatings industry and growing demand for cleaning and degreasing solvents are fueling growth in the global white spirits market.
  • The Asia Pacific is anticipated to account for the largest revenue share in 2017.
  • Type 1 (Hydrodesulphurization) segment is dominating the market
  • Increasing government support
  • Product launch is the key strategy adopted by the various market players of the global white spirits market.
  • Paint thinner is a major application segment.

TABLE OF CONTENTS
  1. RESEARCH SCOPE
    1. STUDY GOALS
    2. SCOPE OF THE MARKET STUDY
    3. WHO WILL FIND THIS REPORT USEFUL?
    4. STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    1. SOURCES OF DATA
      1. SECONDARY DATA
      2. PRIMARY DATA
    2. TOP DOWN APPROACH
    3. BOTTOM-UP APPROACH
    4. DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    1. MARKET SUMMARY
  4. MARKET DYNAMICS
    1. MARKET DEFINITION
    2. DRIVERS
      1. BOOMING PAINT AND COATINGS INDUSTRY
      2. GROWING DEMAND FOR CLEANING AND DEGREASING SOLVENTS
      3. RISING DEMAND FOR OIL EXPLORATION
    3. RESTRAINTS
      1. TOXIC AND HAZARDOUS IN NATURE
    4. OPPORTUNITIES
      1. WHITE SPIRIT IS CONSIDERED AS A GREAT SUBSTITUTE TO TURPENTINE
    5. CHALLENGES
      1. USE OF ECO-FRIENDLY SOLVENTS
  5. MARKET BY PRODUCT TYPE
    1. TYPE 1 (HYDRODESULPHURIZATION)
    2. TYPE 2 (SOLVENT EXTRACTION)
    3. TYPE 3 (HYDROGENATION)
    4. TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT)
  6. MARKET BY GRADE TYPE
    1. LOW FLASH GRADE
    2. REGULAR FLASH GRADE
    3. HIGH FLASH GRADE
  7. MARKET BY APPLICATION
    1. PAINT THINNER
    2. CLEANING SOLVENT
    3. DEGREASING SOLVENT
    4. FUEL
    5. DISINFECTANT
    6. OTHERS
  8. KEY ANALYTICS
    1. PORTER’S 5 FORCE ANALYSIS
      1. THREAT OF NEW ENTRANTS
      2. THREAT OF SUBSTITUTE PRODUCTS
      3. BARGAINING POWER OF BUYERS
      4. BARGAINING POWER OF SUPPLIERS
      5. INTENSITY OF COMPETITIVE RIVALRY
    2. REGULATORY FRAMEWORK
    3. VENDOR LANDSCAPE
    4. OPPORTUNITY MATRIX
  9. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. UNITED STATES
      2. CANADA
    2. EUROPE
      1. UNITED KINGDOM
      2. FRANCE
      3. GERMANY
      4. SPAIN
      5. ITALY
      6. REST OF EUROPE
    3. ASIA PACIFIC
      1. CHINA
      2. JAPAN
      3. INDIA
      4. AUSTRALIA
      5. SOUTH KOREA
      6. REST OF ASIA PACIFIC
    4. REST OF WORLD
      1. LATIN AMERICA
      2. MIDDLE EAST AND NORTH AFRICA
      3. REST OF AFRICA
  10. COMPANY PROFILES
    1. CEPSA
    2. DHC SOLVENT CHEMIE GMBH
    3. EXXONMOBIL CORPORATION
    4. GANGA RASAYANIE LTD
    5. GSB CHEMICALS
    6. HCS GROUP
    7. IDEMITSU KOSAN CO., LTD
    8. KAPCO PETROLEUM INDUSTRIES FZC
    9. KH CHEMICALS
    10. KIF
    11. MEHTA PETRO REFINERIES LTD
    12. PMPI
    13. ROYAL DUTCH SHELL PLC
    14. STOCKMEIER GRUPPE
    15. TOTAL S.A.

 

LIST OF TABLES

TABLE 1 GLOBAL WHITE SPIRITS MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 2 ADVANTAGES VS DISADVANTAGES OF WHITE SPIRITS

TABLE 3 GLOBAL WHITE SPIRITS MARKET BY PRODUCT TYPE 2018-2026 ($ MILLION)

TABLE 4 GLOBAL WHITE SPIRITS MARKET BY PRODUCT TYPE 2018-2026 (MILLION TONS)

TABLE 5 GLOBAL TYPE 1 (HYDRODESULPHURIZATION) MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 6 GLOBAL TYPE 1 (HYDRODESULPHURIZATION) MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 7 GLOBAL TYPE 2 (SOLVENT EXTRACTION) MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 8 GLOBAL TYPE 2 (SOLVENT EXTRACTION) MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 9 GLOBAL TYPE 3 (HYDROGENATION) MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 10 GLOBAL TYPE 3 (HYDROGENATION) MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 11 GLOBAL TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT) MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 12 GLOBAL TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT) MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 13 PHYSICAL PROPERTIES OF WHITE SPIRITS

TABLE 14 GLOBAL WHITE SPIRITS MARKET BY GRADE TYPE 2018-2026 ($ MILLION)

TABLE 15 GLOBAL WHITE SPIRITS MARKET BY GRADE TYPE 2018-2026 (MILLION TONS)

TABLE 16 GLOBAL LOW FLASH GRADE MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 17 GLOBAL LOW FLASH GRADE MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 18 GLOBAL REGULAR FLASH GRADE MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 19 GLOBAL REGULAR FLASH GRADE MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 20 GLOBAL HIGH FLASH GRADE MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 21 GLOBAL HIGH FLASH GRADE MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 22 GLOBAL WHITE SPIRITS MARKET BY APPLICATION 2018-2026 ($ MILLION)

TABLE 23 GLOBAL WHITE SPIRITS MARKET BY APPLICATION 2018-2026 (MILLION TONS)

TABLE 24 GLOBAL PAINT THINNER MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 25 GLOBAL PAINT THINNER MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 26 GLOBAL CLEANING SOLVENT MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 27 GLOBAL CLEANING SOLVENT MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 28 GLOBAL DEGREASING SOLVENT MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 29 GLOBAL DEGREASING SOLVENT MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 30 GLOBAL FUEL MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 31 GLOBAL FUEL MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 32 GLOBAL DISINFECTANT BY GEOGRAPHY MARKET 2018-2026 ($ MILLION)

TABLE 33 GLOBAL DISINFECTANT BY GEOGRAPHY MARKET 2018-2026 (MILLION TONS)

TABLE 34 GLOBAL OTHERS MARKET BY GEOGRAPHY 2018-2026 ($ MILLION)

TABLE 35 GLOBAL OTHERS MARKET BY GEOGRAPHY 2018-2026 (MILLION TONS)

TABLE 36 NORTH AMERICA WHITE SPIRITS MARKET BY COUNTRY 2018-2026 ($ MILLION)

TABLE 37 NORTH AMERICA WHITE SPIRITS MARKET BY COUNTRY 2018-2026 (MILLION TONS)

TABLE 38 EUROPE WHITE SPIRITS MARKET BY COUNTRY 2018-2026 ($ MILLION)

TABLE 39 EUROPE WHITE SPIRITS MARKET BY COUNTRY 2018-2026 (MILLION TONS)

TABLE 40 ASIA PACIFIC WHITE SPIRITS MARKET BY COUNTRY 2018-2026 ($ MILLION)

TABLE 41 ASIA PACIFIC WHITE SPIRITS MARKET BY COUNTRY 2018-2026 (MILLION TONS)

TABLE 42 REST OF WORLD WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

TABLE 43 REST OF WORLD WHITE SPIRITS MARKET 2018-2026 (MILLION TONS)

LIST OF FIGURES

FIGURE 1 GLOBAL WHITE SPIRITS MARKET BY APPLICATION 2018-2026 ($ MILLION)

FIGURE 2 UNITED STATES WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 3 CANADA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 4 UNITED KINGDOM WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 5 FRANCE WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 6 GERMANY WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 7 SPAIN WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 8 ITALY WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 9 REST OF EUROPE WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 10 CHINA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 11 JAPAN WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 12 INDIA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 13 AUSTRALIA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 14 SOUTH KOREA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 15 REST OF ASIA PACIFIC WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 16 LATIN AMERICA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 17 MIDDLE EAST AND NORTH AFRICA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

FIGURE 18 REST OF AFRICA WHITE SPIRITS MARKET 2018-2026 ($ MILLION)

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