Market Overview

The Global White Spirit Market was valued at USD 7,552.2 million in 2023 and is expected to reach USD 11,767.1 million by 2031 while growing at a CAGR of 5.7% during the forecast period (2024-2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global white spirit market growth. White spirit, also called mineral spirits, paint thinner, or turpentine substitute, is a clear liquid solvent derived from petroleum. It is widely used as an organic solvent in industrial, commercial, and household applications, primarily consisting of aliphatic and alicyclic hydrocarbons.

Increasing construction and infrastructure development, coupled with growth in the automotive industry, propels the white spirit market. However, challenges like stringent environmental regulations and the rising popularity of water-based coatings could impede its further expansion.

Furthermore, the global white spirit industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Grade Analysis

The Global White Spirit Market is segmented among Low-flash Grade, Regular-flash Grade, and High-flash Grade, based on Grade. In 2023, Low-flash Grade accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Application Analysis

The Global White Spirit Market is segmented among Paint Thinner, Cleansing Agent, Degreasing Agent, Fuel, Disinfectant, and Other Applications, based on Application. In 2023, Paint Thinner accounted for the majority of the market share*. 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global White Spirit Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031). 

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Al Sanea, Cepsa, DHC Solvent Chemie GmbH, Exxon Mobil Corporation, HCS Group GmbH, KAPCO PETROLEUM INDUSTRIES FZC, KH Chemicals, Kuwaitintlfactory, Mehta Petro Refineries Limited, and Neste.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global White Spirit Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global White Spirit Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global White Spirit Market Segmentation, By Grade 

• Global White Spirit Market Share Analysis, By Grade 

• Global White Spirit Market Growth Analysis, By Grade 

• Global White Spirit Market Trends, By Grade 

o Low-flash Grade

o Regular-flash Grade

o High-flash Grade

6. Global White Spirit Market Segmentation, By Application

• Global White Spirit Market Share Analysis, By Application

• Global White Spirit Market Growth Analysis, By Application

• Global White Spirit Market Trends, By Application

o Paint Thinner

o Cleansing Agent

o Degreasing Agent

o Fuel

o Disinfectant

o Other Applications

7. Global White Spirit Market Segmentation, By Region

• Global White Spirit Market Share Analysis, By Region

• Global White Spirit Market Growth Analysis, By Region

• Global White Spirit Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• Al Sanea*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Cepsa 

• DHC Solvent Chemie GmbH

• Exxon Mobil Corporation

• HCS Group GmbH

• KAPCO PETROLEUM INDUSTRIES FZC

• KH Chemicals

• Kuwaitintlfactory

• Mehta Petro Refineries Limited

• Neste

 *Similar analysis will be provided for each company listed above.