White Spirits Market Outlook: What changes can Bring Big Development Impact?

According to a report by Allied Market Research, the white spirits market was valued at $6.5 billion in 2020 and is projected to reach $11.2 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030. The report offers an in-depth analysis, covering top investment pockets, winning strategies, market drivers and opportunities, market size and estimations, competitive scenarios, and evolving market trends.

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Market Drivers and Opportunities

The growth of the global white spirits market is primarily driven by:

- Increased use in various end-use industries such as adhesives, coatings, and inks & dyes.
- Extensive application as an aerosol, cleaning, and degreasing solvent.
- Wide usage in the painting industry for adding smoothness and minimizing viscosity.

However, health concerns due to long-term exposure to white spirits may hinder market growth. Nevertheless, the increasing use of white spirits in paint products presents significant opportunities for the industry.

Market Segmentation

Product Type:

- The type 1 segment dominated in 2020, accounting for over half of the market share.
- The type 3 segment is expected to grow at the fastest CAGR of 6.0% during the forecast period.

Grade:

The low flash point segment held nearly half of the market share in 2020.
The high flash point segment is anticipated to grow at the fastest CAGR of 6.1% during the forecast period.

Region:

- Europe held the largest market share in 2020, representing nearly two-fifths of the total market.
- The Asia-Pacific region is projected to grow at the fastest CAGR of 7.0% during the forecast period.

Key Players

Key players in the global white spirits market include:

- Kuwait International Factory
- Kapco Petroleum Industries FZC
- Shell plc
- Exxon Mobil Corporation
- TotalEnergies
- Alshall International Co.
- Ahmadullins: Sciences & Technologies
- DHC Solvent Chemie GmbH
- Pacer
- Rahaoil Inc.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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