White Spirits Market 2021 with (COVID-19) Impact Analysis, Product Type, Application, Key Manufacturers, Regions and Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for White Spirits Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

According to the statistics by the Organization for Economic Co-operation and Development (OECD), the United States recorded to be the largest exporters of international trade in services amongst all the OECD nations with a value worth USD 827 billion in the year 2018.

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Global White Spirits Market is forecasted to reach $9 billion by 2024; growing at a CAGR of 6.6% between 2016 and 2024. White spirit is a mixture of straight and branched chain paraffins, naphthene and alkyl aromatic hydrocarbons, majorly used for cleaning paint and degreasing machine tools and parts. The major consumption of white spirit is used in paints, lacquers and varnishes. It is also used by individuals in their household to clean used paint brushes, and to remove adhesive from surfaces. White spirit is a light grade of kerosene and can also be used as substitute for kerosene in stoves. Steady demand from the paints and coatings industry, unassuming jet kerosene prices, and increasing demand for white spirit as a turpentine substitute are the major factors driving the global white spirits market. Moreover, changing demographics and improving global economic conditions have also supplemented the growth of the market. However, high cost of white spirits may hamper the market growth in the coming years. Shifting focus towards low aromatic white spirits would provide attractive business opportunities for the market in the coming years.

The global white spirits market is segmented by application and grades. The application segment is further categized into paint thinner, degreasing solvent, cleaning solvent, disinfectant, fuel, and others. By grades, the market is sub-segmented into regular flash grade, low flash grade, and high flash grade. The paint thinner segment dominated the application segment with the largest market share in 2016. Regular flash grade was the maximum revenue generating segment by grades.

By geography, the global white spirits market has been segmented into North America, Europe, Asia Pacific and rest of the world (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, UK and others. Asia-Pacific covers China, India, Japan and others. Rest of the world (RoW) covers South America, Middle East and Africa.

Major companies operating in this market are Royal Dutch Shell Plc, ExxonMobil Corporation, Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, and Neste Oyj among others.

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The key takeaways from the report:
The report will provide detailed analysis of White Spirits Market with respect to major segments such as application and grade
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities is included in the report.
An exhaustive regional analysis of White Spirits Market will be provided in the report.

Profile of the key players in the White Spirits Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of white spirits Market
Application Segment
Paint thinner
Cleaning solvent
Degreasing solvent
Grade Segment
Regular flash grade
High flash grade
Low flash grade

Geographical Segments
North America
United Kingdom
South Korea
South America
Middle East

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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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