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Global White Spirits Market, 2016-2022
Persistence Market Research
Global White Spirits Market Revenue to
Increase from US$ 4,987.4 Mn in 2016 to US$
7,135.1 Mn by 2022: Persistence Market
Research
Persistence Market Research
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Global White Spirits Market, 2016-2022
Persistence Market Research Released New Market Report According to a new market report
published by Persistence Market Research “Global Market Study on White Spirits: Sales
of Medium Flash Grade Segment to Dominate the Market during Forecast Period;
2016 - 2022.” The global white spirits market is projected to expand at a healthy value
CAGR of 6.2% during the forecast period due to various factors, regarding which PMR offers
vital insights in detail in this report.
On the basis of product type, the market has been segmented into type 1, type 2, type 3,
and type 0 white spirit. The type 1 segment has been estimated to account for over 53.1%
volume share of the global white spirits market by 2015 end and is expected to register a
healthy CAGR similar to that projected for the global white spirits market over the forecast
period. Furthermore, the type 3 segment has been estimated to account for 15.1% volume
share of the global white spirits market by 2015 end and is expected to expand at the
fastest CAGR of 4.8% in terms of volume over the forecast period.
The type 3 segment is expected to grow at a swift rate owing to the low aromatic content
and low VOC content of the type 3 products. The type 2 segment is expected to contribute
21.9% revenue to the overall market by 2015 end, which is projected to come down to
21.5% by 2022, with the segment witnessing a decrease of 40 Basis Point Share. However,
the segment is expected to expand at a healthy CAGR over the forecast period owing to
demand from the paints and coatings industry. Type 0 segment is expected to expand at the
slowest volume CAGR of 1.5% over the forecast period.
On the basis of grade, the global white spirits market is segmented into the low flash grade,
regular flash grade, and high flash grade. The regular flash grade segment is estimated to
account for the highest volume share of 58.2% of the overall market by 2015 end and is also
anticipated to continue to remain the fastest growing segment over the forecast period
On the basis of application, the global white spirits market is segmented into paint thinner,
cleansing agent, degreasing agent, fuel, disinfectant, and others (additives in oil &
lubricants, etc.). White spirits find the highest application in the paints and coatings industry
as a paint thinner and, thus, the paint thinner segment is estimated to expand at a highvalue CAGR of 6.6% over the forecast period
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Global White Spirits Market, 2016-2022
The growth of the global white spirits market is mainly driven by the modest jet kerosene
prices, steady demand from the paints and coatings industry, changing demographics,
improving global economic conditions, and their increasing demand as a turpentine
substitute. Other trends driving the growth of the global white spirits market include shifting
focus towards low aromatic white spirits, and customization of product portfolio more
specific to an application.
This report covers trends driving each segment and respective sub-segments and offers
analysis and insights on the potential of the white spirits market in specific regions. Asia
Pacific has been estimated to dominate the global white spirits market with over 39.6%
share by 2015 end and is anticipated to remain dominant by 2022. North America and
Europe have been estimated to collectively account for over 46.5% share of the total white
spirits market by 2015 end. Among all the regions, Asia Pacific is anticipated to register the
highest CAGR between 2016 and 2022, followed by the MEA and Latin America.
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Some of the key players identified in the global white spirits market include ExxonMobil
Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, Neste Oyj,
and others. Major market participants such as ExxonMobil Corporation and Royal Dutch Shell
Plc focus on research and development activities to provide low aromatic content white
spirits in order to attain a sustainable advantage over the competition. In addition, these key
players also focus on expanding their product portfolio and offerings through the acquisition
of various small and big white spirit plants with an objective to enhance their customer base.
View Detail Report With TOC: http://www.persistencemarketresearch.com/marketresearch/white-spirit-market.asp
Market History:
White spirits are oil-derived complex substances consisting of aliphatic, alicyclic, and
aromatic-hydrocarbons with carbon numbers mainly in the range of C7 to C12. These are
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Global White Spirits Market, 2016-2022
clear, colorless, and flammable liquids with a flash point of approximately 21- 68°C. White
spirits have density of approximately 0.8 g/ml, slight water solubility, and vapor pressure in
the range of 0.3 - 3.0 kPa. They have a distinct odor with an odor threshold of 0.5 - 5.0
mg/m3 in air, due to their high content of aromatic hydrocarbons.
White spirits are commonly used as paint thinner and as solvent for extraction, cleaning, and
degreasing. White spirits are also used for cleaning and degreasing machine tools and parts,
and in conjunction with cutting oil as a thread cutting and reaming lubricant. In households,
white spirits are commonly used to clean paint brushes after use, clean auto parts and tools,
as a starter fluid for charcoal grills, and to remove adhesive residue from non-porous
surfaces, etc. Although not normally marketed as a fuel, white spirits are also used as an
alternative to kerosene in portable stoves, since they are a light grade of kerosene.
The global white spirits market is anticipated to expand at a double-digit CAGR during the
forecast period. Growth of the global white spirits market is mainly driven by the modest jet
kerosene prices, steady demand from the paints and coatings industry, changing demographics,
improving global economic conditions, and the increasing demand for these spirits as a
turpentine substitute. Other trends driving growth of the global white spirits market include
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Global White Spirits Market, 2016-2022
shifting focus towards low aromatic white spirits and customization of product portfolio more
specific to an application.
The global white spirits market is segmented, based on product type, into type 1, type 2, type 3,
and type 0 white spirit. Out of these segments, type 1 segment has been estimated to account
for over 53.1% volume share of the global white spirits market by 2015 end. Meanwhile, the
type 3 segment has been estimated to account for a mere 15.1% volume share of the global
market by 2015 end. However, it is expected to remain the fastest growing segment during the
forecast period, expanding at a volume CAGR of 4.8%
In this report, the global white spirits market is sub-segmented on the basis of grade into low
flash grade, regular flash grade, and high flash grade. Out of these grades, the regular flash
grade segment has been estimated to dominate the global white spirits market by 2015 end,
and is expected to continue its dominance in the market by 2022.
The global white spirits market is segmented on the basis of paint thinner, cleansing solvent,
degreasing solvent, fuel, disinfectants, and others. Out of all these applications, the paint thinner
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Global White Spirits Market, 2016-2022
segment has been estimated to dominate the global white spirits market by 2015 end. However,
cleansing solvent and degreasing solvent segments are also anticipated to expand at a healthy
CAGR over the forecast period.
In this report, the global white spirits market has been sub-segmented into five major regions,
including North America, Europe, Asia-Pacific, Europe, Latin America, and the Middle East &
Africa. Of all the regions, Asia Pacific has been estimated to dominate with over 39.6% volume
share of the overall white spirits market volume share by 2015 end. Meanwhile, the North
America market ranked second with more than 27.6% market volume share in 2015, followed by
Europe. In addition, Asia-Pacific is anticipated to become the fastest growing regional market in
the global white spirits market over the forecast period.
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Some of the key players identified in the global white spirits market include ExxonMobil
Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, Neste Oyj,
and others. Major market participants, such as ExxonMobil Corporation and Royal Dutch Shell
Plc, focus on research and development activities to provide low aromatic content white spirits
in order to attain a sustainable advantage over the competition. In addition, these key players
also focus on expanding their product portfolio and offerings through acquisition of various small
and big white spirit plants with an objective to enhance their customer base.
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About Us:
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research, custom research, and consulting services. PMR boasts market research expertise across the
Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages,
Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The
company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data
that precisely corresponds to clients’ business needs.
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Global White Spirits Market, 2016-2022
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