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The global white spirit industry is primarily being driven by the rising urbanisation in developing countries, including India, China, and Thailand. The growth in these regions is triggered by the consumers’ improved standard of living, rising construction, and infrastructure sectors, as well as the rising investments in various sectors.
Apart from the Asia Pacific, North America and Europe are among the major regions for the industry owing to the changing preferences of the consumers. Europe is witnessing a robust growth in the white spirit industry since a few years and is likely to grow rapidly in the forecast period as well. Europe uses a significant volume of the product in products like paints, varnishes, and lacquers. The paint industry is a leading application industry for the white spirit as the product is used to clean paint brushes and also for decorative coating. Within Europe, Germany accounts for a significant market share as it is a major consumer region for the product. Besides Germany, the United Kingdom and France are also expected to witness a healthy growth in the coming years.
The launches and introduction of products by the key players are boosting the global market growth. Total S.A. (NYSE: TOT), one of the leading key players in the market, offers a wide variety of products, including SPIRDANE RANGE, which is a variety of white spirit. The SPIRDANE solvents are white spirits made of complex hydrocarbon compounds extracted from hydro-treating a petroleum-cut. SPIRDANE white spirits are mainly used in paints, degreasing, plastics, and lubricants as they combine strong solvent strength with an average evaporation rate.
Market Analysis by Type, Grade, Application, and Region:
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The major players in the global white spirit market are ExxonMobil Corporation, Total S.A., Royal Dutch Shell Plc, Neste Oyj, GSB Chemicals, CEPSA Química, S.A., Haltermann Carless, and DHC Solvent Chemie GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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