Loading...

White Spirits Market Expected to Reach $7,671 Million by 2023

 
 

quote Major market participants have focused on R&D activities to provide white spirits with low aromatic content to attain a sustainable advantage over the competition. In addition, the players in the market have focused on expanding their product portfolio through mergers and acquisitions and to increase their customer base. quote

Eswara Prasad
Team Lead, Chemicals & Materials at AMR

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, White Spirits Market by Product and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the global white spirits market was valued at $5,360 million in 2016, and is estimated to reach $7,671 million by 2023, registering a CAGR of 5.3% from 2017 to 2023. In 2016, the type 3 segment is anticipated to grow at the highest rate during the forecast period.

Access Full Summary at: https://www.alliedmarketresearch.com/white-spirits-market

White spirit is a mixture of saturated aliphatic & alicyclic C7-C12 hydrocarbons containing 15-20% aromatic C7-C12 hydrocarbons (by weight) and exhibiting a boiling range of 130-230C. There are three different types and grades of white spirits. The classification based on type depends on whether the solvent is subjected to only hydrodesulfurization (type 1), solvent extraction (type 2), or hydrogenation (type 3). The hydrodesulfurized type contains less than 25% aromatic hydrocarbon, the solvent extracted white spirit contains less than 5%, while the hydrogenated contains less than 1%. Each type comprises three different grades: low flash grade (flash point: 21-30C and initial boiling point: 130-144C), regular flash grade (flash point: 31-54C and initial boiling point: 145-174C), and high flash grade (flash point: >55C and initial boiling point: 175-200C). The type 0 white spirit is defined as a distillation fraction with no further treatment, consisting predominantly of saturated C9-C12 hydrocarbons with a boiling range of 140-220C.

In 2016, the paint thinner segment was the leading revenue contributor to the global market. However, the cleaning solvent and degreasing solvent segments are also expected to witness healthy growth rates during the forecast period.

Key Findings of the White Spirits Market:

  • In 2016, Europe dominated the global market with around two-fifths share in terms of value.
  • Asia-Pacific is estimated to witness the highest growth rate of 6.6% during the forecast period.
  • In 2016, China was the leading contributor to the Asia-Pacific white spirits market, accounted for around half of the market.
  • The type 1 segment generated the highest revenue to the global market in 2016, and is expected to grow at a CAGR of 5.4%.
  • The paint thinner segment is estimated to register the highest growth rate, in terms of revenue, registering a CAGR of 5.8%.

In 2016, Europe dominated the global market, owing to the growing demand for low aromatic solvents in the paints & coatings industry. Furthermore, presence of major players is anticipated to boost the market growth in the near future. North America is the second leading revenue contributor to the global market, and is expected to register a CAGR of 4.9% in terms of revenue.

The key players profiled in the report are ExxonMobil Corporation, Royal Dutch Shell Plc., Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, Neste Oyj, Haltermann Carless, DHC Solvent Chemie GmbH, Al Sanea Chemical Products, and GSB Chemicals.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Shaun Godinho
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote White Spirits Market by Product (Type 1, Type 2, Type 3, and Type 0) and Application (Paint Thinner, Extraction Solvent, Cleansing Solvent, Degreasing Solvent, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"White Spirits Market"
Purchase Enquiry