Global White Spirits Market, 2016-2022
Persistence Market Research
Global White Spirits Market Revenue to Increase from US$ 4,987.4 Mn in 2016 to US$ 7,135.1 Mn by 2022: Persistence Market Research
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Global White Spirits Market, 2016-2022
Persistence Market Research Released New Market Report According to a new market report published by Persistence Market Research “Global Market Study on White Spirits: Sales of Medium Flash Grade Segment to Dominate the Market during Forecast Period; 2016 - 2022.� The global white spirits market is projected to expand at a healthy value CAGR of 6.2% during the forecast period due to various factors, regarding which PMR offers vital insights in detail in this report.
On the basis of product type, the market has been segmented into type 1, type 2, type 3, and type 0 white spirit. The type 1 segment has been estimated to account for over 53.1% volume share of the global white spirits market by 2015 end and is expected to register a healthy CAGR similar to that projected for the global white spirits market over the forecast period. Furthermore, the type 3 segment has been estimated to account for 15.1% volume share of the global white spirits market by 2015 end and is expected to expand at the fastest CAGR of 4.8% in terms of volume over the forecast period.
The type 3 segment is expected to grow at a swift rate owing to the low aromatic content and low VOC content of the type 3 products. The type 2 segment is expected to contribute 21.9% revenue to the overall market by 2015 end, which is projected to come down to 21.5% by 2022, with the segment witnessing a decrease of 40 Basis Point Share. However, the segment is expected to expand at a healthy CAGR over the forecast period owing to demand from the paints and coatings industry. Type 0 segment is expected to expand at the slowest volume CAGR of 1.5% over the forecast period.
On the basis of grade, the global white spirits market is segmented into the low flash grade, regular flash grade, and high flash grade. The regular flash grade segment is estimated to account for the highest volume share of 58.2% of the overall market by 2015 end and is also anticipated to continue to remain the fastest growing segment over the forecast period
On the basis of application, the global white spirits market is segmented into paint thinner, cleansing agent, degreasing agent, fuel, disinfectant, and others (additives in oil & lubricants, etc.). White spirits find the highest application in the paints and coatings industry as a paint thinner and, thus, the paint thinner segment is estimated to expand at a highvalue CAGR of 6.6% over the forecast period
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Global White Spirits Market, 2016-2022
The growth of the global white spirits market is mainly driven by the modest jet kerosene prices, steady demand from the paints and coatings industry, changing demographics, improving global economic conditions, and their increasing demand as a turpentine substitute. Other trends driving the growth of the global white spirits market include shifting focus towards low aromatic white spirits, and customization of product portfolio more specific to an application.
This report covers trends driving each segment and respective sub-segments and offers analysis and insights on the potential of the white spirits market in specific regions. Asia Pacific has been estimated to dominate the global white spirits market with over 39.6% share by 2015 end and is anticipated to remain dominant by 2022. North America and Europe have been estimated to collectively account for over 46.5% share of the total white spirits market by 2015 end. Among all the regions, Asia Pacific is anticipated to register the highest CAGR between 2016 and 2022, followed by the MEA and Latin America.
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Some of the key players identified in the global white spirits market include ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, Neste Oyj, and others. Major market participants such as ExxonMobil Corporation and Royal Dutch Shell Plc focus on research and development activities to provide low aromatic content white spirits in order to attain a sustainable advantage over the competition. In addition, these key players also focus on expanding their product portfolio and offerings through the acquisition of various small and big white spirit plants with an objective to enhance their customer base.
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Market History: White spirits are oil-derived complex substances consisting of aliphatic, alicyclic, and aromatic-hydrocarbons with carbon numbers mainly in the range of C7 to C12. These are
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Global White Spirits Market, 2016-2022 clear, colorless, and flammable liquids with a flash point of approximately 21- 68째C. White spirits have density of approximately 0.8 g/ml, slight water solubility, and vapor pressure in the range of 0.3 - 3.0 kPa. They have a distinct odor with an odor threshold of 0.5 - 5.0 mg/m3 in air, due to their high content of aromatic hydrocarbons.
White spirits are commonly used as paint thinner and as solvent for extraction, cleaning, and degreasing. White spirits are also used for cleaning and degreasing machine tools and parts, and in conjunction with cutting oil as a thread cutting and reaming lubricant. In households, white spirits are commonly used to clean paint brushes after use, clean auto parts and tools, as a starter fluid for charcoal grills, and to remove adhesive residue from non-porous surfaces, etc. Although not normally marketed as a fuel, white spirits are also used as an alternative to kerosene in portable stoves, since they are a light grade of kerosene.
The global white spirits market is anticipated to expand at a double-digit CAGR during the forecast period. Growth of the global white spirits market is mainly driven by the modest jet kerosene prices, steady demand from the paints and coatings industry, changing demographics, improving global economic conditions, and the increasing demand for these spirits as a turpentine substitute. Other trends driving growth of the global white spirits market include
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Global White Spirits Market, 2016-2022 shifting focus towards low aromatic white spirits and customization of product portfolio more specific to an application. The global white spirits market is segmented, based on product type, into type 1, type 2, type 3, and type 0 white spirit. Out of these segments, type 1 segment has been estimated to account for over 53.1% volume share of the global white spirits market by 2015 end. Meanwhile, the type 3 segment has been estimated to account for a mere 15.1% volume share of the global market by 2015 end. However, it is expected to remain the fastest growing segment during the forecast period, expanding at a volume CAGR of 4.8%
In this report, the global white spirits market is sub-segmented on the basis of grade into low flash grade, regular flash grade, and high flash grade. Out of these grades, the regular flash grade segment has been estimated to dominate the global white spirits market by 2015 end, and is expected to continue its dominance in the market by 2022. The global white spirits market is segmented on the basis of paint thinner, cleansing solvent, degreasing solvent, fuel, disinfectants, and others. Out of all these applications, the paint thinner
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Global White Spirits Market, 2016-2022 segment has been estimated to dominate the global white spirits market by 2015 end. However, cleansing solvent and degreasing solvent segments are also anticipated to expand at a healthy CAGR over the forecast period. In this report, the global white spirits market has been sub-segmented into five major regions, including North America, Europe, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Of all the regions, Asia Pacific has been estimated to dominate with over 39.6% volume share of the overall white spirits market volume share by 2015 end. Meanwhile, the North America market ranked second with more than 27.6% market volume share in 2015, followed by Europe. In addition, Asia-Pacific is anticipated to become the fastest growing regional market in the global white spirits market over the forecast period. For more Info: http://www.persistencemarketresearch.com/contact-us.asp Some of the key players identified in the global white spirits market include ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, Neste Oyj, and others. Major market participants, such as ExxonMobil Corporation and Royal Dutch Shell Plc, focus on research and development activities to provide low aromatic content white spirits in order to attain a sustainable advantage over the competition. In addition, these key players also focus on expanding their product portfolio and offerings through acquisition of various small and big white spirit plants with an objective to enhance their customer base. Follow us on Linkedin: https://www.linkedin.com/company/persistence-market-research-&consulting About Us: Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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