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GLOBAL WHITE SPIRITS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Global White Spirits Market by Product Type (Type 0 (Distillation Fraction With No Further Treatment), Type 1 (Hydrodesulfurization), Type 2 (Solvent Extraction), Type 3 (Hydrogenation)) Market by Grade (Low Flash Point, Regular Flash Point, High Flash Point) Market by Application (Paint Thinner, Cleaning Solvent, Degreasing Solvent, Fuel, Disinfectant, Other Applications) by Geography


MARKET OVERVIEW

In terms of revenue, the global white spirits market was valued at $xx million in 2022, and is expected to reach $xx million by 2032, growing at a CAGR of 5.75% during the forecast period. 

White spirits, also called mineral spirits, are transparent, clear liquids made from petroleum. They are widely used in wood preserving products, pest control products, waxes, and cleaning & polishing in the automobile and construction industries. They are crucial in making paint and varnish products that coat metal surfaces and stop corrosion. They make the paint less viscous and reduce the time taken in the drying process. 

Further, white spirits are used as an extraction solvent, cleaning agent, degreaser, and solvent in aerosols, wood preservatives, lacquers, varnishes, and asphalt products. They are insoluble in water and comprise a variety of liquid hydrocarbons, aromatic hydrocarbons, and paraffin. The availability of affordable housing, the booming automotive industry, and the increasing construction activities have surged the demand for white spirits.

Read our latest blog on the White Spirits Market

GROWTH ENABLERS

Key growth enablers of the global white spirits market are:

  • Thriving automotive industry 
    • The increasing adoption of electric and autonomous vehicles, integration of IoT in vehicles, and manufacturing of connected vehicles are expanding the automotive market prospects. This, in turn, increases the demand for white spirits.
    • For instance, Asia-Pacific is witnessing high automotive industry growth due to growing demands from the rising population. This offers growth opportunities for synthetic paint thinners.
  • Escalating need for cleaning and degreasing chemicals
  • Demographic shifts and improved economic conditions
  • Government initiatives

GROWTH RESTRAINTS

Key growth restraining factors of the global white spirits market:

  • Health hazards
  • The direct inhalation of white spirits can cause severe lung diseases like Pneumonitis. Prolonged exposure may lead to nose, throat, and lung irritation, shortness of breath, stomach discomfort, headache, dizziness, and lack of coordination. 
  • This has increased the consumer preference for organic and environmental-friendly solvents.
  • Availability of substitutes

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KEY MARKET TRENDS

Global White Spirits Market | Key Trends

  • Green and bio solvents are alternatives to conventional solvents, reducing exposure to dangerous substances and protecting workspaces. They are widely used across several end-user industries.
  • The rising need for turpentine substitutes is anticipated to present growth opportunities for white spirits.
  • The growing inclination of consumers toward low aromatic white spirit (LAWS) is expected to offer lucrative growth opportunities. LAWS is an excellent cleaning agent used for cars and heavy machinery. 

MARKET SEGMENTATION

Market Segmentation – Product Type, Grade, and Application –

Market by Product Type:

  • Type 0 (Distillation fraction with no further treatment)
  • Type 1 (Hydrodesulfurization) 
    • Type 1 product is expected to be the largest revenue generator in the product type segment.
    • It contains hydrocarbon with carbons ranging from C7 to C12 and undergoes hydro-desulphurization. 
    • It is frequently used as an active solvent in aerosol and other wood preservative products.
  • Type 2 (Solvent Extraction)
  • Type 3 (Hydrogenation)

Market by Grade:

  • Low Flash Point
    • The low flash point category is expected to be the largest revenue generator in the grade segment.
    • The grade is determined by the conditions of distillation and crude oil used in the starting material.
    • It has a flash point within the range of 21° to 30°C.
  • Regular Flash Point
  • High Flash Point

Market by Application:

  • Paint Thinner 
    • Paint thinners are solvents that break down paint and lessen its viscosity (or ‘thin’) for use in sprayers or other situations where a thinner mixture is necessary.
    • The rising popularity and commercial usage of paint thinners increase their market prospects.
    • Subsequently, the rising demand for paints & coatings for infrastructure development projects in countries like China, India, and other ASEAN nations, projects growth opportunities for the segment.
  • Cleaning Solvent
  • Degreasing Solvent
  • Fuel
  • Disinfectant
  • Others Applications

GEOGRAPHICAL STUDY

Geographical Study Based on Four Major Regions:
  • North America: The United States and Canada
  • Europe: The United Kingdom, Germany, France, Italy, Spain, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific 
    • The surging population, fast urbanization, and rising disposable incomes are anticipated to contribute to the Asia-Pacific white spirits market growth. Also, the increasing construction activities and expanding infrastructure are projected to raise the demand for white spirits.
    • Japan is home to the third-largest automotive manufacturing sector in the world. The expansion of the automobile industry has led to a growing demand for paints & coatings. This, in turn, will drive the demand for the analyzed market.
    • The expansion of the petrochemical industry in India is another factor driving the Asia-Pacific market growth. India is the world’s third-largest energy consumer and focuses on becoming a global petrochemical manufacturing hub.
  • Rest of World: Latin America, the Middle East & Africa

MAJOR PLAYERS

The major players in the global white spirits market are:

  • Cepsa
  • DHC Solvent Chemie GmbH
  • ExxonMobil Corporation
  • HCS Group
  • KH Chemicals

Key strategies adopted by some of these companies:

  • December 2022 – Cepsa converted one of its oil refining units of the La Rabida Energy Park in Huelva into a new plant to produce first- and second-generation biofuels and simultaneously reduce CO2 emissions by 90%.
  • November 2021- Neste acquired Agri Trading to boost its trading and sourcing of renewable raw materials to address rising customer demands for green and circular solutions. The deal is now complete, as the acquisition has received regulatory approval.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments AnalyzedProduct Type, Grade, Application
Geographies AnalyzedNorth America, Europe, Asia-Pacific, and Rest of World
Companies AnalyzedCepsa, DHC Solvent Chemie GmbH, ExxonMobil Corporation, HCS Group, Idemitsu Kosan Co Ltd, KH Chemicals, KIF, PMPI, Royal Dutch Shell Plc, STOCKMEIER Gruppe, Total SA

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. THRIVING AUTOMOTIVE INDUSTRY
      2. ESCALATING NEED FOR CLEANING AND DEGREASING CHEMICALS
      3. DEMOGRAPHIC SHIFTS AND IMPROVED ECONOMIC CONDITIONS
      4. GOVERNMENT INITIATIVES
    2. KEY RESTRAINTS
      1. HEALTH HAZARDS
      2. AVAILABILITY OF SUBSTITUTES
  4. KEY ANALYTICS
    1. IMPACT OF COVID-19 ON WHITE SPIRITS MARKET
    2. KEY MARKET TRENDS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. OPPORTUNITY MATRIX
    5. VENDOR LANDSCAPE
    6. KEY BUYING CRITERIA
    7. REGULATORY FRAMEWORK
  5. MARKET BY PRODUCT TYPE 
    1. TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT)
    2. TYPE 1 (HYDRODESULFURIZATION)
    3. TYPE 2 (SOLVENT EXTRACTION)
    4. TYPE 3 (HYDROGENATION)
  6. MARKET BY GRADE
    1. LOW FLASH POINT
    2. REGULAR FLASH POINT
    3. HIGH FLASH POINT
  7. MARKET BY APPLICATION
    1. PAINT THINNER
    2. CLEANING SOLVENT
    3. DEGREASING SOLVENT
    4. FUEL
    5. DISINFECTANT
    6. OTHER APPLICATIONS
  8. GEOGRAPHICAL ANALYSIS 
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. COUNTRY ANALYSIS
        1. UNITED STATES
        2. CANADA
    2. EUROPE
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. COUNTRY ANALYSIS
        1. UNITED KINGDOM
        2. GERMANY
        3. FRANCE
        4. ITALY
        5. SPAIN
        6. REST OF EUROPE
    3. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. COUNTRY ANALYSIS
        1. CHINA
        2. JAPAN
        3. INDIA
        4. SOUTH KOREA
        5. AUSTRALIA 
        6. REST OF ASIA-PACIFIC
    4. REST OF WORLD
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. REGIONAL ANALYSIS
        1. LATIN AMERICA
        2. MIDDLE EAST & AFRICA
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. CEPSA
      2. DHC SOLVENT CHEMIE GMBH
      3. EXXONMOBIL CORPORATION
      4. HCS GROUP
      5. IDEMITSU KOSAN CO LTD
      6. KH CHEMICALS
      7. KIF
      8. PMPI
      9. ROYAL DUTCH SHELL PLC
      10. STOCKMEIER GRUPPE
      11. TOTAL SA

LIST OF TABLES

TABLE 1:  MARKET SNAPSHOT – WHITE SPIRITS

TABLE 2:  REGULATORY FRAMEWORK

TABLE 3:  GLOBAL WHITE SPIRITS MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4:  GLOBAL WHITE SPIRITS MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 5:  GLOBAL TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT) MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6:  GLOBAL TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT) MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 7:  GLOBAL TYPE 1 (HYDRODESULFURIZATION) MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8:  GLOBAL TYPE 1 (HYDRODESULFURIZATION) MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 9:  GLOBAL TYPE 2 (SOLVENT EXTRACTION) MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 10:  GLOBAL TYPE 2 (SOLVENT EXTRACTION) MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 11:  GLOBAL TYPE 3 (HYDROGENATION) MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 12:  GLOBAL TYPE 3 (HYDROGENATION) MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 13:  GLOBAL WHITE SPIRITS MARKET, BY GRADE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 14:  GLOBAL WHITE SPIRITS MARKET, BY GRADE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 15:  GLOBAL LOW FLASH POINT MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 16:  GLOBAL LOW FLASH POINT MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 17:  GLOBAL REGULAR FLASH POINT MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 18:  GLOBAL REGULAR FLASH POINT MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 19:  GLOBAL HIGH FLASH POINT MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 20:  GLOBAL HIGH FLASH POINT MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 21:  GLOBAL WHITE SPIRITS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 22:  GLOBAL WHITE SPIRITS MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 23:  GLOBAL PAINT THINNER MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 24:  GLOBAL PAINT THINNER MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 25:  GLOBAL CLEANING SOLVENT MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 26:  GLOBAL CLEANING SOLVENT MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 27:  GLOBAL DEGREASING SOLVENT MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 28:  GLOBAL DEGREASING SOLVENT MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 29:  GLOBAL FUEL MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 30:  GLOBAL FUEL MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 31:  GLOBAL DISINFECTANT MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 32:  GLOBAL DISINFECTANT MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 33:  GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 34:  GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 35:  GLOBAL WHITE SPIRITS MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 36:  GLOBAL WHITE SPIRITS MARKET, BY GEOGRAPHY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 37:  NORTH AMERICA WHITE SPIRITS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 38:  NORTH AMERICA WHITE SPIRITS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 39:  LEADING PLAYERS OPERATING IN NORTH AMERICA WHITE SPIRITS MARKET

TABLE 40:  EUROPE WHITE SPIRITS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 41:  EUROPE WHITE SPIRITS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 42:  LEADING PLAYERS OPERATING IN EUROPE WHITE SPIRITS MARKET

TABLE 43:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 44:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 45:  LEADING PLAYERS OPERATING IN ASIA-PACIFIC WHITE SPIRITS MARKET

TABLE 46:  REST OF WORLD WHITE SPIRITS MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 47:  REST OF WORLD WHITE SPIRITS MARKET, BY REGION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 48:  LEADING PLAYERS OPERATING IN REST OF WORLD WHITE SPIRITS MARKET

TABLE 49:  LIST OF MERGERS & ACQUISITIONS

TABLE 50:  LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 51:  LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 52:  LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1:  KEY MARKET TRENDS

FIGURE 2:  PORTER’S FIVE FORCES ANALYSIS

FIGURE 3:  OPPORTUNITY MATRIX

FIGURE 4:  VENDOR LANDSCAPE

FIGURE 5:  KEY BUYING CRITERIA

FIGURE 6:  GLOBAL WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2022

FIGURE 7:  GLOBAL WHITE SPIRITS MARKET, BY TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT), 2023-2032 (IN $ MILLION)

FIGURE 8:  GLOBAL WHITE SPIRITS MARKET, BY TYPE 1 (HYDRODESULFURIZATION), 2023-2032 (IN $ MILLION)

FIGURE 9:  GLOBAL WHITE SPIRITS MARKET, BY TYPE 2 (SOLVENT EXTRACTION), 2023-2032 (IN $ MILLION)

FIGURE 10:  GLOBAL WHITE SPIRITS MARKET, BY TYPE 3 (HYDROGENATION), 2023-2032 (IN $ MILLION)

FIGURE 11:  GLOBAL WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY GRADE, IN 2022 

FIGURE 12:  GLOBAL WHITE SPIRITS MARKET, BY LOW FLASH POINT, 2023-2032 (IN $ MILLION)

FIGURE 13:  GLOBAL WHITE SPIRITS MARKET, BY REGULAR FLASH POINT, 2023-2032 (IN $ MILLION)

FIGURE 14:  GLOBAL WHITE SPIRITS MARKET, BY HIGH FLASH POINT, 2023-2032 (IN $ MILLION)

FIGURE 15:  GLOBAL WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022 

FIGURE 16:  GLOBAL WHITE SPIRITS MARKET, BY PAINT THINNER, 2023-2032 (IN $ MILLION)

FIGURE 17:  GLOBAL WHITE SPIRITS MARKET, BY CLEANING SOLVENT, 2023-2032 (IN $ MILLION)

FIGURE 18:  GLOBAL WHITE SPIRITS MARKET, BY DEGREASING SOLVENT, 2023-2032 (IN $ MILLION)

FIGURE 19:  GLOBAL WHITE SPIRITS MARKET, BY FUEL, 2023-2032 (IN $ MILLION)

FIGURE 20:  GLOBAL WHITE SPIRITS MARKET, BY DISINFECTANT, 2023-2032 (IN $ MILLION)

FIGURE 21:  GLOBAL WHITE SPIRITS MARKET, BY OTHER APPLICATIONS, 2023-2032 (IN $ MILLION)

FIGURE 22:  NORTH AMERICA WHITE SPIRITS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 23:  UNITED STATES WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 24:  CANADA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 25:  EUROPE WHITE SPIRITS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 26:  UNITED KINGDOM WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 27:  GERMANY WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 28:  FRANCE WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 29:  ITALY WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 30:  SPAIN WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 31:  REST OF EUROPE WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 32:  ASIA-PACIFIC WHITE SPIRITS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 33:  CHINA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 34:  JAPAN WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 35:  INDIA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 36:  SOUTH KOREA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 37:  AUSTRALIA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 38:  REST OF ASIA-PACIFIC WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 39:  REST OF WORLD WHITE SPIRITS MARKET, REGIONAL OUTLOOK, 2022 & 2032 (IN %)

FIGURE 40:  LATIN AMERICA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 41:  MIDDLE EAST & AFRICA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FAQ’s

FAQs

Green and bio solvents are alternatives to conventional solvents, which are hazardous in nature.

Asia-Pacific holds the largest revenue share in the global white spirits market.