White Spirit Market Is Encouraged to Reach USD 12.1 billion by 2033 at a CAGR of 4.6%
White Spirit Market?size is expected to be worth around USD 12.1 billion by 2033, from USD 7.7 billion in 2023, growing at a CAGR of 4.6% during the forecast period from 2023 to 2033.
The white spirit market, focusing on producing and distributing a petroleum-derived solvent known as white spirit or mineral spirits, plays a critical role across various industries. Predominantly used as a thinner for paints and varnishes, for cleaning paint brushes, and as a degreasing agent in automotive and industrial settings, white spirit is integral to manufacturing processes. Its distinct, kerosene-like odor and colorless appearance make it a staple in its respective applications.
Market Key Players
Identify key segments and regions in the market. Download Sample Report - https://market.us/report/white-spirit-market/#requestSample
In 2023, Type 1 white spirit held a dominant position in the market, capturing more than a 35.6% share. This variant is favored primarily due to its lower aromatic content, making it suitable for paint thinning and cleaning applications where less odor and lower health risks are preferred. Its wide acceptance across various industries, including automotive and construction, underscores its utility and compliance with stringent environmental regulations.
In 2023, the Low flash point grade of white spirit held a dominant market position. This grade is particularly favored for its quick-drying properties, making it ideal for paint and varnish applications where rapid setting is necessary. Its usage spans industries such as automotive and furniture manufacturing, where efficiency in production processes is crucial.
In 2023, Paint Thinner held a dominant market position within the white spirit market, capturing more than a 34.8% share. This segment benefits from the extensive use of white spirit as a thinner for oil-based paints, helping to improve the paint’s application properties and cleaning brushes post-use. Paint thinners are crucial in both the DIY and professional painting sectors, underpinning robust demand in residential, commercial, and industrial painting projects.
In 2023, the Paints & Coatings sector held a dominant market position within the white spirit market, capturing more than a 44.6% share. This significant market share is driven by the extensive use of white spirit as a solvent in paint formulations, enhancing the application and drying properties of paints and coatings. The demand is particularly high in both residential and commercial sectors, where renovation and construction activities frequently require high-quality paint finishes.
领英推荐
Key Market Segments
By Product Type
By Grade
By Application
By End-Use