
Global report published by Accurize Market Research
forecast that the global market is expected to reach $11 billion by 2025;
growing at a CAGR of 6.5% from 2017 to 2025. By geography, the Asia Pacific and
North America are expected to grow at a CAGR of XX% and XX%, respectively,
during the forecast period.
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Paint & coating
industry demand, a reasonable price hike of jet kerosene to drive the market
Unobtrusive 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, are the chief factors driving the
global white spirits market. However, the high cost of white spirits is
expected to restrain market growth. Shifting focus towards low aromatic white
spirits would provide several growth opportunities for the market in the coming
years.
Market Segmentation
The global white spirits
market is bifurcated by application, grades, and geography. The application
segment includes paint thinner, cleaning solvent, degreasing solvent, fuel, disinfectant,
and others. The grade segment of the white spirits market is divided into
regular flash grade, high flash grade, and low flash grade. Geographically, the
market is segmented into North America, Europe, Asia-Pacific and Rest of the
world (RoW).
Customize Report:
"Paint thinner
accounted for the largest market share in the application segment", says
Accurize
The paint thinner segment
dominated the application segment with the largest market share in 2017. The regular flash grade was the maximum revenue generating grades segment.
"Asia-Pacific
dominated the global market with the highest market share over the forecast
period", says Accurize
Asia-Pacific accounted for the largest market share of 36% in 2017, owning to the growing infrastructural developments in the region. Improvement in an econ""
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