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White Spirit Market by Type (Type 0, Type 1, Type 2, Type 3 and Type 4); By Flash Point (Low, Medium, High); By Application (Thinner & Solvent, Cleansing and Degreasing Agent, Disinfectant, and Other); and Region - Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
White spirit or mineral spirit is a petrochemical solvent consist of aliphatic, acyclic, and aromatic hydrocarbons with a boiling range varying between 65-230°C. Other common names of white spirits are mineral turpentine, turpentine substitute, petroleum spirits, solvent naphtha (petroleum), various and Stoddard solvent. White spirit is a clear colorless and flammable liquid insoluble in water. White spirits are of four types categorized on the basis of their aromatic content- Type 1, Type 2, Type 3, and Type 0. White spirit is utilized in a wide range of applications such as cleaning agents, extraction solvent, degreasing solvent, paint thinners, varnishes, printing inks, waxes, and disinfectants. White spirit is primarily used in households to clean paint brushes or thin paint.
Global White Spirit Market to surpass USD 9.95 billion by 2030 from USD 6.05 billion in 2019 at a CAGR of 4.64% in the coming years, i.e., 2020-30. Global White Spirit market is estimated to grow due to its growing demand for painting and coatings from various end-user industries. Additionally, growing demand from cleansing and degreasing agent application is anticipated to boost the market for white spirits in the near future. With the presence of a wide range of applications, white spirit is popular which is likely to aid in the market growth of white spirits.
In May 2017, Exxon Mobil Corporation completed its acquisition of one of the world’s largest aromatics facilities on Jurong Island in Singapore. Proximity to company’s integrated refining and petrochemical complex will strengthen both sites with a product and logistical synergies.
In June 2017, HCS Group GmbH (HCS), a leading global supplier of solutions for high-value hydrocarbon specialties, announced that it has signed a contract with Solvents Ltd., a distributor of petrochemical solvents and an existing producer of Automotive fluids, for the sale of its Alterman Carless (HC) Fluids business
Global White Spirit market is segmented by Type into type 0, type 1, type 2, type 3, and type 4. Type 2 segment held the largest market share in the year 2019. Type 2 white spirit commonly known as solvent extracted, is a mixture of hydrocarbons which is produced as the raffinate from the solvent extraction process. The demand for type 2 white spirit is fueling due to increasing demand from the paint & coating, adhesives, and cleaning chemical manufacturers.
Global White Spirit market is distributed by Application into Thinner & Solvent, Cleansing and Degreasing Agent, Disinfectant, and Others. Thinner & Solvent Segment held the largest market share in the year 2019. White spirit is used in the manufacturing of solvent-based paints and coatings and utilized as a thinner. As a thinner, it reduces the viscosity of the paint and offers a slower rate of evaporation. The demand for paints & coatings is mounting owing to the growth of the construction industry, which is projected to fuel the demand for white spirit.
Rising demand from cleansing and degreasing agent application
White spirit is consumed as a cleansing agent due to its versatility and effectiveness. It can be utilized as a solvent to remove slip-ups while painting. White spirit is primarily used in the automobile industry as cleaning agents for car parts or heavy machinery. It assists in removing the toughest grease and chemical stains. In addition, the usage of cleaning agents is expected to rise due to the increasing industrial activities and rising hygienic needs. This, in turn, is anticipated to surge the demand for white spirit.
Increasing application in paints and coatings industry
White spirits are majorly used in the paints and coating industry as they are effective as a synesthetic paint thinner. White spirit may be present as a minor component of water-based paints. With the increasing paints and coating industry, the global white spirit market is expected to boost in the coming years.
Exposure to white spirit is toxic and hazardous for health as well as for the environment. Skin contact with white spirit may lead to irritation, drying, and cracking. Prolonged contact can cause blistering, redness, and burns.
Royal Dutch Shell
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.
Global White Spirit market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa
Global White Spirit market in North America held the largest market share of XX.X% in the year 2019. Asia Pacific will continue to dominate the global White Spirit market due to rising urbanization and industrialization in this region, which is expected to fuel the demand for the white spirit. Additionally, due to the mounting demand for paint thinners and cleaning agents for household requirements, the market is anticipated to grow in the coming years.
White Spirit Market Segments:
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