Global White Spirits Market Size study, By Type (Type 0, Type 1, Type 2, Type 3), Flash Point (Low, Medium, High), Application (Thinner & Solvent, Fuels, Cleaning Agent, Degreasing Agent, Others), and Regional Forecasts 2022-2028

Global White Spirits Market Size study, By Type (Type 0, Type 1, Type 2, Type 3), Flash Point (Low, Medium, High), Application (Thinner & Solvent, Fuels, Cleaning Agent, Degreasing Agent, Others), and Regional Forecasts 2022-2028

Global White Spirits Market is valued approximately USD XX Billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028.

White Spirits is a blend of petroleum hydrocarbons. It is a liquid which is transparent and colorless, chemically stable, and do not corrode. In the paint and varnish, metal cleaning, fabric, and rubber end-use sectors, they are utilised as solvents and diluents. The demand for white spirits in the global market is being driven by an increase in usage in the paints and coatings, adhesives, and inks and dyes end-use sectors. White spirit is frequently used for solvent applications like degreasing solvent, cleaning solvent, and aerosol solvent due to its combination with aliphatic and alicyclic hydrocarbon. Other uses for white spirit include varnish solvent, lacquer solvent, and solvents for wood preservatives. All of these elements influence the demand for white spirits on a global scale. Due to its significant use as a paint thinner and cleaning agent for paint brushes, the paint industry is the biggest consumer of white spirit. The main drivers of the market are new product introductions in the category and rising urbanization in developing nations like China and India. For instance, in 2019, Bacardi Limited a company based in Hamilton, Bermuda launched rum which is flavored in lime. By this product launch the product portfolio of the company has increased. Along with this, wide application of white spirits in the paint industry is creating lucrative growth opportunity for the market over the forecasted period. As this product helps in cleaning paint brush. However, the hazardous effects of White Spirits on human health are impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global White Spirits Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-pacific is the leading region across the world in terms of market share owing to the growing consumption of White Spirits, rising urbanization and the rise in disposable income. Whereas, North America is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing distribution channel of White Spirits, as well as the rising presence of the leading market players, would create lucrative growth prospects for the global White Spirits Market across the Asia-Pacific region.

Major market players included in this report are:
Diageo plc
Rémy Cointreau
Bacardi Limited
Pernod Ricard
The Brown – Forman
Beam Suntory, Inc.
Radico Khaitan
Stock Spirits Group
Hite Jinro Co Ltd
Constellation Brands Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Type:
Type 0
Type 1
Type 2
Type 3
By Flash Point:
Low
Medium
High
By Application:
Thinner & Solvent Type
Fuels
Cleaning Agent
Degreasing Agent
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global White Spirits Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Diageo plc
Rémy Cointreau
Bacardi Limited
Pernod Ricard
The Brown – Forman
Beam Suntory, Inc.
Radico Khaitan
Stock Spirits Group
Hite Jinro Co Ltd
Constellation Brands Inc.

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