White Spirits Market 2021-2026, Growing use of spirits as a cleaning and degreasing agent to Boost Growth – Technavio – QNT Press Release


NEW YORK, Aug. 30, 2022 /PRNewswire/ — The White Spirits Market size is expected to grow by USD 2.43 billion during 2021-2026, at a CAGR of 6.3% during the forecast period, according to Technavio. The growing usage as a cleaning and degreasing agent, increasing demand from the automotive industry, and rising demand for white spirits from artists will offer immense growth opportunities. However, health hazards associated with long-term exposure to white spirits, the high cost of white spirits, and the availability of substitutes will challenge the growth of the market participants.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 2M Holdings Ltd., Al Oga Factory for Manufacturing White Spirit, Al Sanea Chemical Products, Bharat Petroleum Corp. Ltd., BRENNTAG SE, Compania Espanola de Petroleos SA, DHC Solvent Chemie GmbH, Exxon Mobil Corp., GSB Chemical Co. Pty. Ltd ., HCS Group GmbH, KH Chemicals BV, TotalEnergies SE, and Vizag Chemical International are some of the major market participants. Request a free sample report.

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

White Spirits Market Segmentation

  • Application
    • Thinner And Solvent
    • Fuels
    • Cleaning Agent
    • Degreasing Agent
    • Others
  • Geography
    • APAC
    • Europe
    • North America
    • The Middle East and Africa
    • South America

APAC will account for 35% of market growth. The main white spirits markets in APAC are China and Japan. This region’s markets will expand more quickly than those in another area. Over the projection period, the white spirits market in APAC will increase thanks to the rising use of white spirits in end-user sectors such as paints and coatings, adhesives, inks, and dyes. Buy Sample Report.

White Spirits Market Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our white spirits market report covers the following areas:

  • White Spirits Market size
  • White Spirits Market trends
  • White Spirits Market industry analysis

This study identifies the increasing demand from the construction industry as one of the prime reasons driving the white spirits market growth during the next few years. Download Free Sample Report.

White Spirits Market Key Highlights

  • CAGR of the market during the forecast period
  • Detailed information on factors that will assist white spirits market growth during the next five years
  • Estimation of the white spirits market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the white spirit’s market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of white spirits market vendors

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US Alcoholic Beverages Market by Product, Distribution Channel, and Packaging – Forecast and Analysis 2021-2025. Download Free Sample Report.

White Spirits Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.3%

Market growth 2022-2026

$2.43 billion

Market structure

Fragmented

YoY growth (%)

5.52

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 35%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

2M Holdings Ltd., Al Oga Factory for Manufacturing White Spirit, Al Sanea Chemical Products, Bharat Petroleum Corp. Ltd., BRENNTAG SE, Compania Espanola de Petroleos SA, DHC Solvent Chemie GmbH, Exxon Mobil Corp., GSB Chemical Co. Pty. Ltd., HCS Group GmbH, KH Chemicals BV, Pon Pure Chemicals Group, San Miguel Corp., SHANGHAI CHEMEX Group Ltd., Shell plc, Suntory Holdings Ltd., …

Full story available on Benzinga.com



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