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White Spirit Market Growth Analysis By Manufacturers, Regions, Types And Application Forecast

Persistence Market Research, in its latest report titled, ‘White Spirits Market: Global Industry Analysis 2014–2018 and Forecast 2019–2029’, provides conclusive information on the global white spirits market, and offers detailed information through extremely organized market research. The report evaluates the white spirits market, and estimates the upcoming market scenario on the basis of product type, grade, application, and region. According to the information delivered in this report, regular flash grade white spirits are expected to account for relatively higher consumption (>50%) throughout the forecast period.

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Among the product types, the type 3 white spirits segment is anticipated to register rapid growth over the forecast period. Type 1 white spirits are highly consumed, and are estimated to remain prominent in the global market throughout the forecast period. Manufacturers based across geographies are noted to be focusing on developing LAWS (Low Aromatic White Spirits). The global white spirits market was pegged at over US$ 5.8 Bn in terms of value at the end of 2018, and is anticipated to reach a value of over US$ 9 Bn by the end of 2029, at a significant CAGR of over 4% over the forecast period.

Significant Growth in the Paints & Coatings Industry to Act as One of the Prominent Driving Factors in the Growth of the White Spirits Market, Globally

White spirits are widely consumed in the paints & coatings industry for paint thinner applications. The substantial growth of the global paints and coatings industry is noted to have an optimistic impact on the long-standing white spirits market growth. Accounting for more than half of the white spirits market in terms of volumetric consumption, the paint thinner application is a strong driving force for the overall growth of the white spirits market. Furthermore, white spirits are extensively used in cleaning and degreasing applications as a solvent. Prominently used in the cleaning of heavy machinery, tools, and vehicle parts, among others, white spirits are estimated to be highly consumed in these applications.

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Consumer Preference to Set the Course for the White Spirits Market

The consumption trends of white spirits are observed to change over time, and hence, the recently rising demand for low aromatic and odorless white spirits has provided the necessary boost for the growth of the type 3 white spirits segment. Restrictions imposed on VOC (Volatile Organic Compound) emissions have been studied to have a negative impact on the white spirits market. This has...

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