White Spirits Market size is forecast to reach $8.6 billion by 2025, after growing at a CAGR of 4.8% during 2020-2025. With rise in paints and coatings industry, the demand for white spirits market will also grow, as white spirits are used majorly in the Paints and coating industry. Owing to the volatility and low bioavailability of its constituents, white spirit, although it is moderately toxic to aquatic organisms, but it is ecofriendly.

Key Takeaways

Asia-Pacific dominates the White Spirits market owing to increasing demand from Paints and coatings industries.
With the presence of wide variety of application, this maintains the popularity of White spirits, is likely to aid in the market growth of White Spirits.

Growing Demand from Cleansing and Degreasing Agent Application will increase the market demand for White Spirits in the near future.

Hazardous nature, and toxicity concerns related to white spirits are expected to hinder the market growth in the near future.

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Application - Segment Analysis

Paint thinner holds the largest market share in the White Spirits Market. Paint thinners are solvents that can dissolve paint and reduce viscosity of paint or “thin” it for use in sprayer applicators or when simply needing a thinner mixture to work with. Paint that has been left open will begin to harden and dry and become thicker. Thinner can counteract this. A number of other solvents can be used to remove paint. These include acetone, turpentine, naptha, xylene, methyl ethyl ketone (MEK), and denatured alcohol. Normally paint thinner is used to remove oil-based paint from brushes, rollers, equipment, and surfaces. However, there are many other applications and uses for paint thinner saving you money and time. For health hazard assessments, reference values (Derived No Effect levels, DNELs) are calculated from toxicology data and compared to estimated exposure levels.

Drivers – White Spirits Market

Growing Demand from Cleansing and Degreasing Agent Application

Implementation of Stringent Environment Regulations

Market Landscape

Major players in the White Spirits Market are Exxon Mobil Corporation, Royal Dutch Shell PLC, DHC Solvent Chemie GmbH, Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, among others.

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