According to the latest report published by Variant Market Research, the global white spirits market size is projected to reach $9 billion by 2024 from $5 billion in 2016. In this report, white spirits market forecast says that the global market is growing at 6.6% CAGR from 2017 to 2025.

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Growing demand of these as an alternative for turpentine to drive the global market

The global white spirits market trend includes stable requirement from the paints & coatings industry, unassuming prices of jet kerosene, better global economic conditions, changing demographics, and the growing demand of these as an alternative for turpentine. Though, high cost may hinder the white spirits market growth. Moreover, emphasis on low aromatic white spirits would offer an opportunity for players of market, as per white spirits market outlook.

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Market Segmentations

The global white spirits market is classified into application, grades, and geography. Application segment includes paint thinner, degreasing solvent, cleaning solvent, fuel, disinfectant, and other applications. Further, the market is classified on basis of grades into high flash grade, regular flash grade, & low flash grade. North America (U.S., Mexico, and Canada), Europe (France, Germany, United Kingdom, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the white spirits market global scenario.

The paint thinner, by application dominated the global market in 2017
The paint thinner held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. Low aromatic white spirits are highly used as a thinning solvent in paints and coatings application, is the driving factor for the growth of this segment.
Regular flash grade, by grades dominated the global market in 2017
Regular flash grade held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. The high usage of it is the driving factor for the growth of this segment.

Asia-Pacific dominated the global market in 2017

Asia-Pacific held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. The increasing infrastructural developments in the region (including Australia, New Zealand) is the driving factor for the growth of the Asia-Pacific white spirits market. Furthermore, RoW (including South Africa, among others) and Europe (including Ireland, among others) are expected to grow with fastest CAGR, respectively, over the forecast period.

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Competitive Landscape

Key players are offering innovative products and services to increase their white spirits market share. Major players of the market are Total S.A., ExxonMobil Corporation, Idemitsu Kosan Co., Ltd., Royal Dutch Shell Plc, CEPSA, & Neste Oyj, among others.

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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