Global White Spirits Market, 2016-2022
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<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong>, <strong>2016</strong>-<strong>2022</strong><br />
Persistence <strong>Market</strong> Research<br />
<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong> Revenue to<br />
Increase from US$ 4,987.4 Mn in <strong>2016</strong> to US$<br />
7,135.1 Mn by <strong>2022</strong>: Persistence <strong>Market</strong><br />
Research<br />
Persistence <strong>Market</strong> Research 1
<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong>, <strong>2016</strong>-<strong>2022</strong><br />
Persistence <strong>Market</strong> Research Released New <strong>Market</strong> Report According to a new market report<br />
published by Persistence <strong>Market</strong> Research “<strong>Global</strong> <strong>Market</strong> Study on <strong>White</strong> <strong>Spirits</strong>: Sales<br />
of Medium Flash Grade Segment to Dominate the <strong>Market</strong> during Forecast Period;<br />
<strong>2016</strong> - <strong>2022</strong>.” The global white spirits market is projected to expand at a healthy value<br />
CAGR of 6.2% during the forecast period due to various factors, regarding which PMR offers<br />
vital insights in detail in this report.<br />
On the basis of product type, the market has been segmented into type 1, type 2, type 3,<br />
and type 0 white spirit. The type 1 segment has been estimated to account for over 53.1%<br />
volume share of the global white spirits market by 2015 end and is expected to register a<br />
healthy CAGR similar to that projected for the global white spirits market over the forecast<br />
period. Furthermore, the type 3 segment has been estimated to account for 15.1% volume<br />
share of the global white spirits market by 2015 end and is expected to expand at the<br />
fastest CAGR of 4.8% in terms of volume over the forecast period.<br />
The type 3 segment is expected to grow at a swift rate owing to the low aromatic content<br />
and low VOC content of the type 3 products. The type 2 segment is expected to contribute<br />
21.9% revenue to the overall market by 2015 end, which is projected to come down to<br />
21.5% by <strong>2022</strong>, with the segment witnessing a decrease of 40 Basis Point Share. However,<br />
the segment is expected to expand at a healthy CAGR over the forecast period owing to<br />
demand from the paints and coatings industry. Type 0 segment is expected to expand at the<br />
slowest volume CAGR of 1.5% over the forecast period.<br />
On the basis of grade, the global white spirits market is segmented into the low flash grade,<br />
regular flash grade, and high flash grade. The regular flash grade segment is estimated to<br />
account for the highest volume share of 58.2% of the overall market by 2015 end and is also<br />
anticipated to continue to remain the fastest growing segment over the forecast period<br />
On the basis of application, the global white spirits market is segmented into paint thinner,<br />
cleansing agent, degreasing agent, fuel, disinfectant, and others (additives in oil &<br />
lubricants, etc.). <strong>White</strong> spirits find the highest application in the paints and coatings industry<br />
as a paint thinner and, thus, the paint thinner segment is estimated to expand at a highvalue<br />
CAGR of 6.6% over the forecast period<br />
Persistence <strong>Market</strong> Research 2
<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong>, <strong>2016</strong>-<strong>2022</strong><br />
The growth of the global white spirits market is mainly driven by the modest jet kerosene<br />
prices, steady demand from the paints and coatings industry, changing demographics,<br />
improving global economic conditions, and their increasing demand as a turpentine<br />
substitute. Other trends driving the growth of the global white spirits market include shifting<br />
focus towards low aromatic white spirits, and customization of product portfolio more<br />
specific to an application.<br />
This report covers trends driving each segment and respective sub-segments and offers<br />
analysis and insights on the potential of the white spirits market in specific regions. Asia<br />
Pacific has been estimated to dominate the global white spirits market with over 39.6%<br />
share by 2015 end and is anticipated to remain dominant by <strong>2022</strong>. North America and<br />
Europe have been estimated to collectively account for over 46.5% share of the total white<br />
spirits market by 2015 end. Among all the regions, Asia Pacific is anticipated to register the<br />
highest CAGR between <strong>2016</strong> and <strong>2022</strong>, followed by the MEA and Latin America.<br />
Request Sample Report: http://www.persistencemarketresearch.com/samples/4544<br />
Some of the key players identified in the global white spirits market include ExxonMobil<br />
Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, Neste Oyj,<br />
and others. Major market participants such as ExxonMobil Corporation and Royal Dutch Shell<br />
Plc focus on research and development activities to provide low aromatic content white<br />
spirits in order to attain a sustainable advantage over the competition. In addition, these key<br />
players also focus on expanding their product portfolio and offerings through the acquisition<br />
of various small and big white spirit plants with an objective to enhance their customer base.<br />
View Detail Report With TOC: http://www.persistencemarketresearch.com/marketresearch/white-spirit-market.asp<br />
<strong>Market</strong> History:<br />
<strong>White</strong> spirits are oil-derived complex substances consisting of aliphatic, alicyclic, and<br />
aromatic-hydrocarbons with carbon numbers mainly in the range of C7 to C12. These are<br />
Persistence <strong>Market</strong> Research 3
<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong>, <strong>2016</strong>-<strong>2022</strong><br />
clear, colorless, and flammable liquids with a flash point of approximately 21- 68°C. <strong>White</strong><br />
spirits have density of approximately 0.8 g/ml, slight water solubility, and vapor pressure in<br />
the range of 0.3 - 3.0 kPa. They have a distinct odor with an odor threshold of 0.5 - 5.0<br />
mg/m3 in air, due to their high content of aromatic hydrocarbons.<br />
<strong>White</strong> spirits are commonly used as paint thinner and as solvent for extraction, cleaning, and<br />
degreasing. <strong>White</strong> spirits are also used for cleaning and degreasing machine tools and parts,<br />
and in conjunction with cutting oil as a thread cutting and reaming lubricant. In households,<br />
white spirits are commonly used to clean paint brushes after use, clean auto parts and tools,<br />
as a starter fluid for charcoal grills, and to remove adhesive residue from non-porous<br />
surfaces, etc. Although not normally marketed as a fuel, white spirits are also used as an<br />
alternative to kerosene in portable stoves, since they are a light grade of kerosene.<br />
The global white spirits market is anticipated to expand at a double-digit CAGR during the<br />
forecast period. Growth of the global white spirits market is mainly driven by the modest jet<br />
kerosene prices, steady demand from the paints and coatings industry, changing demographics,<br />
improving global economic conditions, and the increasing demand for these spirits as a<br />
turpentine substitute. Other trends driving growth of the global white spirits market include<br />
Persistence <strong>Market</strong> Research 4
<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong>, <strong>2016</strong>-<strong>2022</strong><br />
shifting focus towards low aromatic white spirits and customization of product portfolio more<br />
specific to an application.<br />
The global white spirits market is segmented, based on product type, into type 1, type 2, type 3,<br />
and type 0 white spirit. Out of these segments, type 1 segment has been estimated to account<br />
for over 53.1% volume share of the global white spirits market by 2015 end. Meanwhile, the<br />
type 3 segment has been estimated to account for a mere 15.1% volume share of the global<br />
market by 2015 end. However, it is expected to remain the fastest growing segment during the<br />
forecast period, expanding at a volume CAGR of 4.8%<br />
In this report, the global white spirits market is sub-segmented on the basis of grade into low<br />
flash grade, regular flash grade, and high flash grade. Out of these grades, the regular flash<br />
grade segment has been estimated to dominate the global white spirits market by 2015 end,<br />
and is expected to continue its dominance in the market by <strong>2022</strong>.<br />
The global white spirits market is segmented on the basis of paint thinner, cleansing solvent,<br />
degreasing solvent, fuel, disinfectants, and others. Out of all these applications, the paint thinner<br />
Persistence <strong>Market</strong> Research 5
<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong>, <strong>2016</strong>-<strong>2022</strong><br />
segment has been estimated to dominate the global white spirits market by 2015 end. However,<br />
cleansing solvent and degreasing solvent segments are also anticipated to expand at a healthy<br />
CAGR over the forecast period.<br />
In this report, the global white spirits market has been sub-segmented into five major regions,<br />
including North America, Europe, Asia-Pacific, Europe, Latin America, and the Middle East &<br />
Africa. Of all the regions, Asia Pacific has been estimated to dominate with over 39.6% volume<br />
share of the overall white spirits market volume share by 2015 end. Meanwhile, the North<br />
America market ranked second with more than 27.6% market volume share in 2015, followed by<br />
Europe. In addition, Asia-Pacific is anticipated to become the fastest growing regional market in<br />
the global white spirits market over the forecast period.<br />
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Some of the key players identified in the global white spirits market include ExxonMobil<br />
Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., CEPSA, Neste Oyj,<br />
and others. Major market participants, such as ExxonMobil Corporation and Royal Dutch Shell<br />
Plc, focus on research and development activities to provide low aromatic content white spirits<br />
in order to attain a sustainable advantage over the competition. In addition, these key players<br />
also focus on expanding their product portfolio and offerings through acquisition of various small<br />
and big white spirit plants with an objective to enhance their customer base.<br />
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<strong>Global</strong> <strong>White</strong> <strong>Spirits</strong> <strong>Market</strong>, <strong>2016</strong>-<strong>2022</strong><br />
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