White spirits are also known as mineral spirits, varsol, and petroleum spirits derived from petroleum. It is used as common organic solvent in paints, aerosols, varnishes, asphalt products, lacquers, wood preservatives, and for cleaning & degreasing machine parts. In Europe, 60% of the total white spirits consumption is utilized for varnishes, paints, and lacquers. It is majorly used as solvent in paint industry. Furthermore, white spirits is commonly used to clean paint brushes in residential applications. The growth of end-use industries including paint industry is projected to boost the demand for white spirits over the forth coming years.
White spirit is also referred to as mineral turpentine, is a petroleum-based clear liquid that is used as an organic solvent in paint industry. White spirit consists of alicyclic-, aliphatic-, and aromatic-hydrocarbons with carbon numbers ranging from C7 to C12. They are mainly used as a paint thinner and as a solvent for extraction, degreasing, and cleaning the machine components.
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Based on application, white spirits market is segmented into paint thinner, cleansing solvent, degreasing solvent, fuel, disinfectant, others. Wherein, paint thinner segment dominated global white spirits market in 2018 and contributed for 54.9% in terms of revenue in the same year, followed by cleansing solvent and degreasing application. Moreover, paint thinner application is predicted to record fastest growth of 6.6% during the forecast period (2019 to 2027).
On the basis of region, Middle East & Africa accounted for the largest share, in terms of revenue in 2018 and contributed for 31.4% in 2018, followed by Asia Pacific and North America. Moreover, Middle East & Africa is anticipated to record fastest growth in terms of revenue in the global white spirits market during the forecast period (2019 to 2027).
Global White Spirits Market, By Application:
Global White Spirits Market, By Grade:
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Players active in the market are ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., Compañía Española de Petróleos, S.A.U. (CEPSA), Neste Oyj, Haltermann Carless Deutschland GmbH, DHC Solvent Chemie GmbH, Al Sanea Chemical Products, and GSB Chemical Co. Pty. Ltd.
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