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White Spirit Market by Type (Type 0, Type 1, Type 2, Type 3), Flash Point, Application (Thinner & Solvent, Fuels, Cleaning Agent, Degreasing Agent), Region (North America, Europe, APAC, Middle East & Africa, South America ) - Global Forecast to 2024

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出 版 商:MarketsandMarkets
出版日期:2019/12/19
頁  數:164頁
文件格式:PDF
價  格:
USD 4,950 (Single-User License)
USD 6,650 (Multi-User License)
USD 8,150 (Global-User License)
USD 10,000 (Hard copy)
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“The increasing demand for paints & coatings in various end-use industries to drive the market.”
The white spirit market size is estimated to be USD 6.7 billion in 2019 and projected to reach USD 8.1 billion by 2024, at a CAGR of 4.0%. The market is driven by the growing need for paints & coatings in various end-use industries. However, the increasing regulations on the use of environmentally-friendly products could hamper the market for white spirit.
“The type 3 product segment is projected to register the highest CAGR during the forecast period.”
The type 3 segment is projected to witness a higher growth rate than other types during the forecast period. The demand for type 3 white spirit is driven mainly by the growing demand for low aromatic white spirit from the coating, adhesives, and industrial cleaning chemical manufacturers. The increased consumption of these compounds in the various end-use industries, such as automotive, construction, and chemical is another vital factor leading to the high demand for type 3 white spirit.
“The market in the thinner & solvent segment to account for the largest share during the forecast period.”
White spirit is an essential ingredient in the manufacturing of solvent-based paints & coatings and is used as a thinner. The main purpose of the white spirit as a thinner is to reduce the viscosity of the paint and provide a slower rate of evaporation. Hence, the paints that are thinned with white spirit dry to a smoother surface and form a leveled coat on the surface it is being applied to. The growth of the construction industry is fueling the paints & coatings demand in these regions, which will directly have an impact on the demand for white spirit.
“APAC is projected to be the fastest-growing region during the forecast period.”
APAC accounted for the largest share of the global white spirit market. The developing economies of APAC and Middle East & Africa are witnessing an increase in urbanization, increasing middle-class population, and the growing demand for new houses due to the rising number of nuclear families, which has led to the construction of new residential and commercial buildings, which is expected to increase in the future.

Extensive primary interviews were conducted to determine and verify the market size of several segments and subsegments and information gathered through secondary research.
The breakup of primary interviews is given below:
‧ By Company Type: Tier 1 – 40%, Tier 2 – 20%, and Tier 3 – 40%
‧ By Designation: C level – 10%, Director Level – 20%, and Others – 70%
‧ By Region: APAC – 50%, Europe – 10%, Middle East & Africa- 30%, South America – 10%
The leading players in the white spirit market are Royal Dutch Shell (The Netherlands), Total SA (France), ExxonMobil (US), Idemitsu Kosan Co. Ltd (Japan), Bharat Petroleum Corporation Limited (India), Indian Oil Corporation Limited (India), and ThaiOil Company (Japan). Twenty key players were covered in the report.
Research Coverage:
This research report categorizes the white spirit market based on type, flash point, application, and region. The report includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the market. A detailed analysis of the key industry players has been done to provide insights into business overviews, products, and key strategies associated with the market.
Key Benefits of Buying the Report
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the white spirit market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.

2. The report will help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.

3. This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business.
TABLE OF CONTENTS

1 INTRODUCTION 19
1.1 OBJECTIVES OF THE STUDY 19
1.2 MARKET DEFINITION 19
1.3 MARKET SCOPE 20
1.3.1 MARKET SEGMENTATION 20
1.3.2 REGIONS COVERED 20
1.3.3 YEARS CONSIDERED FOR THE STUDY 21
1.4 CURRENCY 21
1.5 UNIT CONSIDERED 21
1.6 LIMITATIONS 21
1.7 STAKEHOLDERS 21
2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.1.1 SECONDARY DATA 23
2.1.1.1 Key data from secondary sources 23
2.1.2 PRIMARY DATA 24
2.1.2.1 Key data from primary sources 24
2.1.2.2 Key industry insights 25
2.1.2.3 Breakdown of primary interviews 25
2.2 MARKET SIZE ESTIMATION 26
2.2.1 BOTTOM-UP APPROACH 26
2.2.2 TOP-DOWN APPROACH 26
2.2.3 SUPPLY SIDE 27
2.2.4 DEMAND SIDE 27
2.3 DATA TRIANGULATION 28
2.4 ASSUMPTIONS 29
3 EXECUTIVE SUMMARY 30
4 PREMIUM INSIGHTS 33
4.1 ATTRACTIVE OPPORTUNITIES IN THE WHITE SPIRIT MARKET 33
4.2 APAC WHITE SPIRIT MARKET, BY APPLICATION AND COUNTRY 33
4.3 WHITE SPIRIT MARKET, BY TYPE 34
4.4 WHITE SPIRIT MARKET, BY FLASH POINT 34
4.5 WHITE SPIRIT MARKET, BY REGION 35
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5 MARKET OVERVIEW 36
5.1 INTRODUCTION 36
5.2 MARKET DYNAMICS 36
5.2.1 DRIVERS 37
5.2.1.1 Increasing demand for paints & coatings from growing economies 37
5.2.2 RESTRAINTS 37
5.2.2.1 Environmental regulations driving the demand for VOC-free products 37
5.2.3 OPPORTUNITIES 39
5.2.3.1 Growing production capacities of paints & coatings in developing countries 39
5.2.4 CHALLENGES 39
5.2.4.1 Handling and storage of white spirit 39
5.3 PORTER’S FIVE FORCES ANALYSIS 40
5.3.1 BARGAINING POWER OF BUYERS 40
5.3.2 BARGAINING POWER OF SUPPLIERS 40
5.3.3 THREAT OF NEW ENTRANTS 41
5.3.4 THREAT OF SUBSTITUTES 41
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 41
5.4 YC, YCC SHIFT 42
5.4.1 YC SHIFT 42
5.4.2 YCC SHIFT 42
6 WHITE SPIRIT MARKET, BY TYPE 43
6.1 INTRODUCTION 44
6.2 TYPE 0 45
6.2.1 STRINGENT REGULATIONS IN DEVELOPED ECONOMIES DECLINING THE DEMAND FOR TYPE 0 WHITE SPIRIT 45
6.3 TYPE 1 46
6.3.1 APAC TO HAVE A HIGH DEMAND FOR TYPE 1 WHITE SPIRIT DURING THE FORECAST PERIOD 46
6.4 TYPE 2 47
6.4.1 LOW AROMATIC CONTENT IN TYPE 2 WHITE SPIRIT LEADING TO ITS HIGH DEMAND IN PAINTS & COATINGS APPLICATIONS 47
6.5 TYPE 3 48
6.5.1 DE-AROMATIC SOLVENT TO HAVE HIGH DEMAND IN THE PAINTS & COATINGS INDUSTRY 48
7 WHITE SPIRIT MARKET, BY FLASH POINT 49
7.1 INTRODUCTION 50
7.2 LOW FLASH POINT 51
7.2.1 RISK ASSOCIATED WITH THE LOW FLASH POINT WHITE SPIRITS DURING STORAGE & TRANSPORTATION DECREASING THEIR DEMAND 51
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7.3 MEDIUM FLASH POINT 52
7.3.1 THE MEDIUM FLASH POINT SEGMENT TO REGISTER STEADY GROWTH DURING THE FORECAST PERIOD 52
7.4 HIGH FLASH POINT 53
7.4.1 HIGH STABILITY AND LOW VOC CONTENT INCREASING THE DEMAND FOR THE HIGH FLASH POINT WHITE SPIRIT 53
8 WHITE SPIRIT MARKET, BY APPLICATION 54
8.1 INTRODUCTION 55
8.2 PAINTS & COATINGS 55
8.2.1 HIGH DEMAND FOR LOW AROMATIC SOLVENT WITNESSED IN THE PAINTS & COATINGS INDUSTRY 55
8.3 CLEANING SOLVENT 56
8.3.1 CLEANING SOLVENT REGISTERED HIGH DEMAND IN DEVELOPING COUNTRIES 56
8.4 DEGREASING 57
8.4.1 GROWING MANUFACTURING AND FABRICATION SECTORS DRIVING THE MARKET GROWTH 57
8.5 FUEL 58
8.5.1 CHANGING GOVERNMENT REGULATIONS AND NORMS ON FUEL BLENDING HAMPERS THE MARKET GROWTH 58
8.6 OTHERS 59
9 WHITE SPIRIT MARKET, BY REGION 60
9.1 INTRODUCTION 61
9.2 NORTH AMERICA 62
9.2.1 US 66
9.2.1.1 Increasing crude oil production capacity and growing paints & coatings and fabrication industries driving the market growth 66
9.2.2 CANADA 69
9.2.2.1 Expected growth in paints & coatings production helping the market to grow 69
9.2.3 MEXICO 71
9.2.3.1 Steady growth of the manufacturing sector driving the market 71
9.3 EUROPE 73
9.3.1 GERMANY 77
9.3.1.1 Slow demand for solvent-borne coatings hampering the market growth 77
9.3.2 UK 79
9.3.2.1 Government initiatives in infrastructure projects to increase the demand for white spirit 79
9.3.3 FRANCE 81
9.3.3.1 Increasing manufacturing activities contributing to the market growth 81
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9.3.4 RUSSIA 83
9.3.4.1 Growing infrastructure development boosting the demand for white spirit 83
9.3.5 SPAIN 86
9.3.5.1 Increasing focus on aerospace and industrial sectors spurring the demand for white spirit 86
9.3.6 FINLAND 88
9.3.6.1 White spirit market to register slow growth in Finland during the forecast period 88
9.3.7 POLAND 90
9.3.7.1 Steady growth of the paints & coatings industry boosting the demand for white spirit 90
9.3.8 REST OF EUROPE 91
9.4 APAC 94
9.4.1 CHINA 97
9.4.1.1 Amendment in regulation and policies triggering the demand for Type 3 white spirit in several applications 97
9.4.2 AUSTRALIA 99
9.4.2.1 Growth in the paints & coatings industry boosting the demand for white spirits 99
9.4.3 JAPAN 101
9.4.3.1 Strong production capacity likely to drive the market growth 101
9.4.4 INDIA 104
9.4.4.1 Healthy growth of the paints & coatings industry driving the market growth 104
9.4.5 SOUTH KOREA 106
9.4.5.1 Strong production capacity and rising demand for eco-friendly chemicals propelling the white spirit market growth 106
9.4.6 REST OF APAC 108
9.5 MEA 110
9.5.1 IRAN 112
9.5.1.1 Healthy growth of the solvent-borne paints & coatings sector propelling the demand for white spirit 112
9.5.2 SOUTH AFRICA 114
9.5.2.1 Thriving demand for thinners witnessed in the paints & coatings industry 114
9.5.3 REST OF MEA 116
9.6 SOUTH AMERICA 118
9.6.1 BRAZIL 121
9.6.1.1 Slow growth of the solvent-borne coatings sector hampering the market growth 121
9.6.2 ARGENTINA 123
9.6.2.1 Growth in construction industry driving the paints and coatings demand 123
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9.6.3 BOLIVIA 125
9.6.3.1 White spirit market likely to register 1.2 times growth during the forecast period 125
9.6.4 REST OF SOUTH AMERICA 126
10 COMPETITIVE LANDSCAPE 129
10.1 INTRODUCTION 129
10.2 MARKET SHARES OF KEY PLAYERS 129
10.2.1 ROYAL DUTCH SHELL PLC. 130
10.2.2 EXXONMOBIL CORPORATION 130
10.2.3 TOTAL SA 130
10.3 COMPETITIVE SCENARIO 131
10.3.1 EXPANSION 131
11 COMPANY PROFILES 132
(Business Overview, Winning Imperatives, Current Focus And Strategies, Threat From Competition, Right To Win, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
11.1 ROYAL DUTCH SHELL PLC 132
11.2 TOTAL SA 135
11.3 EXXONMOBIL CORPORATION 137
11.4 THAIOIL GROUP 140
11.5 IDEMITSU KOSAN CO., LTD 142
11.6 TURKIYE PETROL RAFINERILERI A.?. 145
11.7 DHC SOLVENT CHEMIE GMBH 147
11.8 NESTE OYJ 149
11.9 BHARAT PETROLEUM CORPORATION LIMITED (BPCL) 151
11.10 INDIAN OIL CORPORATION LIMITED (IOCL) 153
11.11 EAGLE PETROLEUM 155
11.12 AL SANEA CHEMICAL PRODUCTS 155
11.13 HALTERMANN CARLESS DEUTSCHLAND GMBH 155
11.14 KUWAIT INTERNATIONAL FACTORY 155
11.15 AL-OGA FACTORY FOR MANUFACTURING WHITE SPIRIT 156
11.16 K H CHEMICALS 156
11.17 GULF FACTORY FOR WHITE SOLVENT 156
11.18 BRENNTAG AG (DISTRIBUTER) 156
11.19 BANNER CHEMICALS LIMITED (DISTRIBUTER) 156
11.20 PON PURE CHEMICALS GROUP 157
*Details on Business Overview, Winning Imperatives, Current Focus and Strategies, Threat From Competition, Right To Win, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
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12 APPENDIX 158
12.1 DISCUSSION GUIDE 158
12.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 160
12.3 AVAILABLE CUSTOMIZATIONS 162
12.4 RELATED REPORTS 162
12.5 AUTHOR DETAILS 163
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