NEW YORK, July 17, 2023 /PRNewswire/ — The white spirits market size is expected to increase to USD 2.43 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.3% according to Technavio. 15+, Including 2M Holdings Ltd., Al Oga Factory for Manufacturing White Spirit, Al Sanea Chemical Products, Bharat Petroleum Corp. Ltd., BRENNTAG SE, Compania Espanola de Petroleos SA, DHC Solvent Chemie GmbH, Exxon Mobil Corp., G.S.B Chemical Co. Pty. Ltd., HCS Group GmbH, KH Chemicals B.V., Pon Pure Chemicals Group, San Miguel Corp., SHANGHAI CHEMEX Group Ltd., Shell plc, Suntory Holdings Ltd., Thai Oil Public Co. Ltd., TotalEnergies SE, and Vizag Chemical International. Download a Sample Report Now!
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
- Segments: Application (Thinner and solvent, Fuels, Cleaning agent, Degreasing agent, and Others) and Geography (APAC, Europe, North America, Middle East and Africa, and South America)
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White spirits market – Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
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Global White Spirits Market – Market Dynamics
Key Driver –
The growing use of spirits as a cleaning and degreasing agent is one of the key drivers supporting the growth of the white spirits market. White spirit is mostly used to clean painted and metal surfaces because it is a fast-drying solvent. There are times when an oily and slick layer creates around machines or their parts, chains of bikes, automobile parts, and other metallic instruments and equipment. Although, they can be degreased with the help of white spirits. Additionally, it is utilized in families for cleaning purposes, like cleaning furniture and wood. Also, it is eco-friendly and available at an affordable price. Hence, the rising use of white spirits as a cleaning and degreasing agent is expected to boost the growth of the white spirits market in focus during the forecast period.
Leading Trend –
Increasing demand from the construction industry is one of the key white spirits market trends contributing to the market growth. Rapid urbanization and critical investments in infrastructure development are to the construction industry in developing countries such as India and Australia. White spirits are usually utilized in the construction industry in any place paints are utilized on the grounds that white spirits decrease the thickness of the paint and let the paint dry for a longer time. Likewise, in nations, for instance, as India and the US, the construction industry is supposed to grow during the forecast period due to the attributable to the accessibility of reasonable housing and the growing population. Hence, these factors are expected to raise the demand for paints, which will boost the growth of the white spirits market during the forecast period.
Significant challenge –
Health hazards associated with long-term exposure to white spirits are one of the factors challenging the white spirits market growth. Exposure and health risks can arise if white spirits are present in the environment. In addition, the factors such as breathing, consumption, and skin contact expose a person to white spirits. The level of exposure and duration of exposure also plays an important role in the health risks associated with ingestion or exposure to White Spirits. Also, ingestion of white spirits directly into the lungs can further increase the risk of vomiting sensation in the person. Hence, all these associated risk factors are expected to impede the growth of the white spirits market during the forecast period.
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The white spirits market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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What are the key data covered in this White Spirits Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the white spirits market between 2022 and 2026
- Precise estimation of the white spirits market size contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the white spirits market across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of white spirits market vendors
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The premium spirit market size is projected to increase by USD 49.85 billion and the market size is estimated to grow at a CAGR of 6.32% between 2022 and 2027. Furthermore, this report extensively covers market segmentation by distribution channel (off-trade and on-trade), product (vodka, whisky, rum, brandy, and tequila, and others), and geography (Europe, APAC, North America, South America, and Middle East and Africa). The growing demand for premium drinks by the millennial generation is a key factor driving the market growth during the forecast period.
The craft spirits market is estimated to grow at a CAGR of 22.15% between 2022 and 2027. The size of the market is forecast to increase by USD 49,112.89 million. Furthermore, this report extensively covers market segmentation by product (craft whiskey, craft gin, and other craft spirits), distribution channel (on-trade and off-trade), and geography (North America, Europe, APAC, South America, and Middle East and Africa). The increasing number of craft distilleries is a key factor driving the market growth during the forecast period.
| White Spirits Market Scope | |
| Report Coverage | Details |
| Base year | 2021 |
| Historic period | 2017-2021 |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 6.3% |
| Market growth 2022-2026 | USD 2.43 billion |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 5.52 |
| Regional analysis | APAC, Europe, North America, Middle East and Africa, and South America |
| Performing market contribution | APAC at 35% |
| Key countries | US, China, Japan, Germany, and UK |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | 2M Holdings Ltd., Al Oga Factory for Manufacturing White Spirit, Al Sanea Chemical Products, Bharat Petroleum Corp. Ltd., BRENNTAG SE, Compania Espanola de Petroleos SA, DHC Solvent Chemie GmbH, Exxon Mobil Corp., G.S.B Chemical Co. Pty. Ltd., HCS Group GmbH, KH Chemicals B.V., Pon Pure Chemicals Group, San Miguel Corp., SHANGHAI CHEMEX Group Ltd., Shell plc, Suntory Holdings Ltd., Thai Oil Public Co. Ltd., TotalEnergies SE, and Vizag Chemical International |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global – Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis – Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition – Five forces 2021 and 2026
5 Market Segmentation by Application
- 5.1 Market segments
- Exhibit 24: Chart on Application – Market share 2021-2026 (%)
- Exhibit 25: Data Table on Application – Market share 2021-2026 (%)
- 5.2 Comparison by Application
- Exhibit 26: Chart on Comparison by Application
- Exhibit 27: Data Table on Comparison by Application
- 5.3 Thinner and solvent – Market size and forecast 2021-2026
- Exhibit 28: Chart on Thinner and solvent – Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Thinner and solvent – Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Thinner and solvent – Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Thinner and solvent – Year-over-year growth 2021-2026 (%)
- 5.4 Fuels – Market size and forecast 2021-2026
- Exhibit 32: Chart on Fuels – Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Fuels – Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Fuels – Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Fuels – Year-over-year growth 2021-2026 (%)
- 5.5 Cleaning agent – Market size and forecast 2021-2026
- Exhibit 36: Chart on Cleaning agent – Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Cleaning agent – Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Cleaning agent – Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Cleaning agent – Year-over-year growth 2021-2026 (%)
- 5.6 Degreasing agent – Market size and forecast 2021-2026
- Exhibit 40: Chart on Degreasing agent – Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Degreasing agent – Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Degreasing agent – Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Degreasing agent – Year-over-year growth 2021-2026 (%)
- 5.7 Others – Market size and forecast 2021-2026
- Exhibit 44: Chart on Others – Market size and forecast 2021-2026 ($ million)
- Exhibit 45: Data Table on Others – Market size and forecast 2021-2026 ($ million)
- Exhibit 46: Chart on Others – Year-over-year growth 2021-2026 (%)
- Exhibit 47: Data Table on Others – Year-over-year growth 2021-2026 (%)
- 5.8 Market opportunity by Application
- Exhibit 48: Market opportunity by Application ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 49: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 50: Chart on Market share by geography 2021-2026 (%)
- Exhibit 51: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 52: Chart on Geographic comparison
- Exhibit 53: Data Table on Geographic comparison
- 7.3 APAC – Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on APAC – Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on APAC – Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC – Year-over-year growth 2021-2026 (%)
- 7.4 Europe – Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe – Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe – Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe – Year-over-year growth 2021-2026 (%)
- 7.5 North America – Market size and forecast 2021-2026
- Exhibit 62: Chart on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on North America – Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on North America – Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on North America – Year-over-year growth 2021-2026 (%)
- 7.6 Middle East and Africa – Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa – Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa – Year-over-year growth 2021-2026 (%)
- 7.7 South America – Market size and forecast 2021-2026
- Exhibit 70: Chart on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on South America – Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on South America – Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on South America – Year-over-year growth 2021-2026 (%)
- 7.8 US – Market size and forecast 2021-2026
- Exhibit 74: Chart on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on US – Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on US – Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on US – Year-over-year growth 2021-2026 (%)
- 7.9 China – Market size and forecast 2021-2026
- Exhibit 78: Chart on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on China – Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on China – Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on China – Year-over-year growth 2021-2026 (%)
- 7.10 Japan – Market size and forecast 2021-2026
- Exhibit 82: Chart on Japan – Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on Japan – Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on Japan – Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Japan – Year-over-year growth 2021-2026 (%)
- 7.11 Germany – Market size and forecast 2021-2026
- Exhibit 86: Chart on Germany – Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on Germany – Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on Germany – Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on Germany – Year-over-year growth 2021-2026 (%)
- 7.12 UK – Market size and forecast 2021-2026
- Exhibit 90: Chart on UK – Market size and forecast 2021-2026 ($ million)
- Exhibit 91: Data Table on UK – Market size and forecast 2021-2026 ($ million)
- Exhibit 92: Chart on UK – Year-over-year growth 2021-2026 (%)
- Exhibit 93: Data Table on UK – Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 94: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 95: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 96: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 97: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 98: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 99: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 100: Matrix on vendor position and classification
- 10.3 Al Sanea Chemical Products
- Exhibit 101: Al Sanea Chemical Products – Overview
- Exhibit 102: Al Sanea Chemical Products – Product / Service
- Exhibit 103: Al Sanea Chemical Products – Key offerings
- 10.4 Bharat Petroleum Corp. Ltd.
- Exhibit 104: Bharat Petroleum Corp. Ltd. – Overview
- Exhibit 105: Bharat Petroleum Corp. Ltd. – Product / Service
- Exhibit 106: Bharat Petroleum Corp. Ltd. – Key offerings
- 10.5 Compania Espanola de Petroleos SA
- Exhibit 107: Compania Espanola de Petroleos SA – Overview
- Exhibit 108: Compania Espanola de Petroleos SA – Business segments
- Exhibit 109: Compania Espanola de Petroleos SA – Key offerings
- Exhibit 110: Compania Espanola de Petroleos SA – Segment focus
- 10.6 DHC Solvent Chemie GmbH
- Exhibit 111: DHC Solvent Chemie GmbH – Overview
- Exhibit 112: DHC Solvent Chemie GmbH – Product / Service
- Exhibit 113: DHC Solvent Chemie GmbH – Key offerings
- 10.7 Exxon Mobil Corp.
- Exhibit 114: Exxon Mobil Corp. – Overview
- Exhibit 115: Exxon Mobil Corp. – Business segments
- Exhibit 116: Exxon Mobil Corp. – Key offerings
- Exhibit 117: Exxon Mobil Corp. – Segment focus
- 10.8 G.S.B Chemical Co. Pty. Ltd.
- Exhibit 118: G.S.B Chemical Co. Pty. Ltd. – Overview
- Exhibit 119: G.S.B Chemical Co. Pty. Ltd. – Product / Service
- Exhibit 120: G.S.B Chemical Co. Pty. Ltd. – Key offerings
- 10.9 HCS Group GmbH
- Exhibit 121: HCS Group GmbH – Overview
- Exhibit 122: HCS Group GmbH – Product / Service
- Exhibit 123: HCS Group GmbH – Key offerings
- 10.10 Shell plc
- Exhibit 124: Shell plc – Overview
- Exhibit 125: Shell plc – Business segments
- Exhibit 126: Shell plc – Key news
- Exhibit 127: Shell plc – Key offerings
- Exhibit 128: Shell plc – Segment focus
- 10.11 Thai Oil Public Co. Ltd.
- Exhibit 129: Thai Oil Public Co. Ltd. – Overview
- Exhibit 130: Thai Oil Public Co. Ltd. – Business segments
- Exhibit 131: Thai Oil Public Co. Ltd. – Key offerings
- Exhibit 132: Thai Oil Public Co. Ltd. – Segment focus
- 10.12 TotalEnergies SE
- Exhibit 133: TotalEnergies SE – Overview
- Exhibit 134: TotalEnergies SE – Business segments
- Exhibit 135: TotalEnergies SE – Key news
- Exhibit 136: TotalEnergies SE – Key offerings
- Exhibit 137: TotalEnergies SE – Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 138: Inclusions checklist
- Exhibit 139: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 140: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 141: Research methodology
- Exhibit 142: Validation techniques employed for market sizing
- Exhibit 143: Information sources
- 11.5 List of abbreviations
- Exhibit 144: List of abbreviations
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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