White Spirits Market Analysis and Long-Term Future Insights 2024 - 2031 | Amcor Limited, E.I. du Pont de Nemours & Co

Market Overview:

The global white spirits market was valued at US$ 10,551.3 Mn in 2019 and is predicted to reach US$ 13,575.2 Mn by the end of 2027, growing at a CAGR of 3.2% during the forecast period (2020 to 2027).

Market Dynamics:

The global white spirits market is expected to witness significant growth over the forecast period owing to increasing demand from paints & coatings industry. According to the report, the paints & coatings segment accounted for over 40% of total consumption in 2020. Growth in construction and automotive industries has been a major driver for paints & coatings demand which in turn is expected to boost need for white spirits. Additionally, growing preference for environment-friendly water-based coatings among manufacturers is further expected to propel market growth between 2024-2031.

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White Spirits Market Drivers: Increasing Demand from Paints & Coatings Industry

The paints & coatings industry has observed significant growth over the past few years owing to expanding construction activities and growing automotive production. White spirits, also known as mineral spirits, are widely used as paint thinners and cleaning solvents in paints & coatings. They help adjust the viscosity of paints, enable smooth application of coatings, and remove residues post application. With ongoing infrastructure development projects and recovering vehicle manufacturing, the requirement for paints and coatings has risen substantially. This in turn has augmented the consumption of white spirits across the globe.

White Spirits Market Opportunity: Surging Demand from Thermal Insulation Industry

Thermal insulation plays a pivotal role in energy conservation, resource efficiency, and reducing carbon footprint. White spirits significantly aid in manufacturing various types of thermal insulation materials such as Expanded Polystyrene (EPS), Extruded Polystyrene (XPS), and Rockwool, among others. They function as blowing agents that generate low-density structures in these materials, improving their insulation properties. With growing awareness about energy efficiency across residential and commercial establishments, the thermal insulation market has witnessed bullish growth trends. This increasing focus on thermal management solutions worldwide presents huge opportunities for white spirits producers over the coming years.

White Spirits Market Trends: Rising Preference for Bio-Based and Renewable Feedstock

Rising preference for bio-based and renewable feedstock: With heightened focus on sustainability, white spirits manufacturers are increasingly leveraging bio-based feedstock like sugarcane, corn, vegetables oils, and other plant-based materials for production. These are renewable resources and help reduce dependence on fossil fuels. Furthermore, bio-based white spirits have lower toxicity and VOC content as compared to conventional petroleum-derived variants. This ongoing shift towards renewable sources for white spirits development is one of the defining trends that is likely to shape the industry dynamics in the future time period. Visionary companies are making heavy investments in R&D for commercializing green white spirits made from bio-feedstock.

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Top Companies Included in This Report:

• Amcor Limited
• E.I. du Pont de Nemours & Co
• Bemis Company Inc.
• Berry Plastic Group
• Winpack Ltd.
• Sealed Air Corp.
• Crown Holdings
• Reynolds Group
• Coveris Holdings S.A.
• Sealpac International BV.

Market Segmentation:

Based on Product Type:

• By Material Type: Polyethylene (PE), Polypropylene (PP), Biaxially-oriented polypropylene (BOPP), Ethylene vinyl alcohol (EVOH), polyvinyl chloride (PVC), Polyamide (PA), Others
• By Packaging Technology: Modified Atmosphere Packaging, Vacuum Skin Packaging, Vacuum Thermoformed Packaging, Others
• By Meat Type: Beef, Pork, Poultry, Seafood, Others

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Latest Trends in the Navigation White Spirits Market:

💡 Surging Demand: Witness a rising demand for navigation White Spirits owing to the escalating usage of GPS-enabled devices and the imperative for precise, up-to-date mapping data.

💡 Innovations in Technology: Witness the emergence of novel technologies aimed at enhancing the precision and dependability of navigation White Spirits, encompassing real-time traffic updates, 3D mapping, and augmented reality.

💡 Tailored Solutions for Diverse Industries: Companies are tailoring navigation White Spirits solutions to cater to the distinct requirements of various sectors such as automotive, aviation, and maritime.

💡 Fusion with Emerging Technologies: Observe the integration of navigation White Spirits with cutting-edge technologies like artificial intelligence and the Internet of Things, facilitating the provision of advanced functionalities.

💡 Rise of Mobile Applications: Experience the proliferation of navigation White Spirits in the form of mobile applications, offering enhanced convenience and accessibility to users.

💡 Emphasis on Environmental Sustainability: Witness the development of navigation White Spirits systems that consider environmental factors such as traffic congestion and air quality, fostering the provision of sustainable transportation alternatives.

Frequently Asked Questions (FAQs) for Global Navigation White Spirits Market Research:

What are the critical factors that companies should prioritize when entering the Navigation White Spirits market?

What is the growth rate of the Navigation White Spirits Market?

What is the current size of the Navigation White Spirits Market?

Which region demonstrates the highest growth rate in the Navigation White Spirits Market?

Which region commands the largest share in the Navigation White Spirits Market?

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Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

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