Global White Spirits Market was valued at$5 billion in 2016andestimated to reach $9 billion by 2024; growing at a CAGR of 6.6% from 2016 to 2024.In geographical segments, Rest of the World (RoW) and Europe are anticipated to grow at a CAGR of 7.8% and 6.8%, respectively, over the forecast period 2016 – 2024.
Enhanced global economic environment will drive the global white spirits market
Key white spirits market trends are stable demand from the coatings and paints industry, unpretentious jet kerosene prices, improvedglobal economic environment, and increasing demand for white spirits as turpentinealternate. Though, high cost of white spirits may hamper the market growth. Increasing attention about low aromatic white spirits would unfold attractive business opportunities for the market in the coming years.
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Market Segmentations
The global white spirits market has been classified as application, grades and geography.Application segment comprisescleaning solvent, degreasing solvent, paint thinner, fuel, disinfectant, and other applications.Grade segment is further categorized as high flash grade, Regular flash grade, and low flash grade. In 2016, paint thinner was predominant in the application segment with major market share. Regular flash grade segment generated highest revenue in grade segment.Based on geography, the global white spirits market is bifurcated into North America, Europe, Asia-Pacific and Rest of the world.
Asia-Pacific accounted the highest market share in 2016
Asia-Pacific dominated the global market with largestmarket share in 2016, driven by growing infrastructural improvements in the region. Countries like Ireland,New Zealand,Australia,United Kingdom, and South Africa are witnessing significant demand of white spirit market.
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Competitive Landscape
The major key players operating in the market are Royal Dutch Shell Plc, ExxonMobil Corporation, Total S.A., CEPSA, NesteOyj, Haltermann Carless, Idemitsu Kosan Co., Ltd., DHC Solvent Chemie, GSB Chemicals, and Al Sanea Chemical Products, among others.
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Scope of white spirits Market
Application Segment
• Paint thinner
• Cleaning solvent
• Degreasing solvent
• Fuel
• Disinfectant
• Others
Grade Segment
• Regular flash grade
• High flash grade
• Low flash grade
Geographical Segments
o North America
 US
 Canada
 Mexico
o Europe
 Germany
 France
 United Kingdom
 Spain
 Others
o Asia-Pacific
 China
 India
 Japan
 South Korea
 Others
o RoW
 South America
 Middle East
 Africa
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