White Spirit Market - Trends Forecast Till 2028

Market Overview

The white spirit market is expected to register a CAGR of over 5.8% during the forecast period (2021-2028).

White spirit is a petroleum-derived clear, transparent liquid that is used as a common organic solvent in painting and other applications.

Expansion of the paints & coatings industry and rise in demand for cleaning and degreasing solvents are some of the factors that have supported long-term expansion for White Spirit Market.

The market was negatively impacted due to COVID-19 in 2020. Owing to the pandemic scenario, several countries around the world went into lockdown to curb the spreading of the virus. This negatively affected the demand of white spirit from various applications such as paint thinner, fuel, degreasing agent, and others.

Regional Analysis

Asia Pacific is expected to be a rapidly growing region of the global white spirits market in the near future. Growth in infrastructure development in countries in the region is likely to drive the white spirits market in Asia Pacific.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Neste
• Exxon Mobil Corporation
• Royal Dutch Shell PLC
• DHC Solvent Chemie GmbH
• Total SA
• ThaiOil Group
• Idemitsu Kosan Co., LTD
• Türkiye Petrol Rafinerileri A.S.
• Bharat Petroleum Corporation Limited (BPCL)
• Indian Oil Corporation Limited (IOCL)
• Eagle Petroleum
• K H Chemicals
• Pon Pure Chemicals Group
• Haltermann Carless Deutschland GmbH

Recent Developments

• September 20,2021-ExxonMobil Lubricants Pvt Ltd, a wholly-owned affiliate of ExxonMobil Corporation, on Monday announced the launch of Mobil SuperTM All-in-One Protection SUV Pro synthetic engine oil. The launch comes when sales of sport utility vehicles (SUVs) account for about one-third of new passenger vehicle sales, the company said in a release.
• September 2020-Thailand's state-owned oil major PTT is expected to invest more than $16 billion over the next decade into an initiative to promote electric vehicles and other green technology as part of a national drive to turn the country into Southeast Asia's EV hub

Reasons to Acquire

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• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope