White Spirit Market

White Spirit Market by Type (Type 0, Type 1, Type 2, Type 3), Flash Point, Application (Thinner & Solvent, Fuels, Cleaning Agent, Degreasing Agent), Region (North America, Europe, APAC, Middle East & Africa, South America ) - Global Forecast to 2024

Report Code: CH 7488 Dec, 2019, by marketsandmarkets.com

[150 Pages Report] The white spirit market size is projected to grow from the estimated USD 6.7 billion in 2019 to USD 8.1 billion by 2024, at a compound annual growth rate (CAGR) of 4.0%, during the forecast period. White spirit, also known as mineral spirit or mineral turpentine oil (MTO); is a petrochemical solvent, which contains C7 to C12 aliphatic, acyclic, and aromatic hydrocarbons with a boiling range varying between 65-230°C. There are four types of white spirits that are produced as the fractional distillation fractions obtained from naphtha and kerosene cut of crude oil. The composition of these types might vary within some specific limits because of the difference in the raw material used during the production process. White spirits are clear, colorless, and flammable liquids with flash points ranging between 21-68 °C and an aromatic content ranging between 2% to 25%.

White Spirit Market

Type 2 to be the second-fastest-growing component of the white spirits market

Type 2 white spirit, also known as solvent extracted, is a combination of hydrocarbons, which is obtained as a raffinate from the solvent extraction process. The demand for type 2 white spirit is driven mainly by the growing demand from the paint & coating, adhesives, and cleaning chemical manufacturers. The increasing consumption of these compounds in the various end-use industries such as automotive, construction, composites, and chemicals, is another important factor leading to the high demand for type 2 white spirit.

Thinner & solvent to be the largest application segment of the white spirits market.

White spirit is an essential ingredient in the manufacturing of solvent-based paints & coatings and is used as a thinner. The main purpose of the white spirit as a thinner is to reduce the viscosity of the paint and provide a slower rate of evaporation. Hence, the paints that are thinned with white spirit dry to a smoother surface and form a leveled coat on the surface it is being applied to.  The growing demand for new houses due to the rising number of nuclear families has led to the construction of new residential and commercial buildings, and this is expected to increase in the future. The growth of the construction industry is fueling the paints & coatings demand in these regions, which will directly have an impact on the demand for white spirit.

White Spirit Market

APAC is estimated to account for the largest market share during the forecast period.

The growth of the construction industry in APAC is fueling the paints & coatings demand in these regions, which will directly have an impact on the demand for white spirit. The rapid construction activities in the emerging economies of APAC, Middle East & Africa, and South America is driving the white spirit market. This is supported by the improving standard of living, rising housing construction expenditure, and investments across various industries, such as appliances, automotive, general industrial, architectural, and furniture.

Key Market Players

The leading players in the white spirits market are Royal Dutch Shell (The Netherlands), Total SA (France), ExxonMobil (US), Idemitsu Kosan Co. Ltd (Japan), Bharat Petroleum Corporation Limited (India), Indian Oil Corporation Limited (India), and ThaiOil Company (Japan). Most of these leading players operate globally and have a widespread distribution network.

Scope of the Report:

Report Metric


Market size available for years


Base year


Forecast period


Unit considered  

Value (USD Billion and USD Thousand) and Volume (Kiloton and Ton)


Type, Flash Point, Application, and Region


North America, APAC, Europe, Middle East & Africa, and South America


Royal Dutch Shell (The Netherlands), Total SA (France), ExxonMobil (US), Idemitsu Kosan Co. Ltd (Japan), Bharat Petroleum Corporation Limited (India), Indian Oil Corporation Limited (India), and ThaiOil Company (Japan).
20 key players covered.

This research report categorizes the global white spirits market based on type, flash point, application, and region.

Based on type:

  • Type 0
  • Type 1
  • Type 2
  • Type 3

Based on Flash Point:

  • Low
  • Medium
  • High

Based on application:

  • Thinner & Solvent
  • Fuels
  • Cleaning Agent
  • Degreasing Agent
  • Others

Based on region:

  • North America
  • Europe
  • APAC
  • Middle East & Africa
  • South America

The market is analyzed further for key countries in each of these regions.

Key questions addressed by the report

  • What are the different types of white spirits being used globally?
  • What are the regulations on the use of white spirit, globally?
  • What are the most prominent applications of white spirit? Which is the largest application that is expected to drive the market in the near future?
  • What are the global trends in demand for white spirit? Will the market witness an increase or decline in demand in the near future?
  • Is there any substitute for white spirit?
  • Who are the key players in the white spirits market, globally?
  • What are the attractive revenue pockets for suppliers of white spirit?
  • What are the winning imperatives for companies in this market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1  Years Considered for the Study
    1.4 Currency
    1.5 Package size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1  Secondary Data
            Key Data from Secondary Sources
           2.1.2  Primary Data
           Key Data from Primary Sources
           Key Industry Insights
           Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1  Bottom-Up Approach
           2.2.2  Top-Down Approach
    2.3 Data Triangulations
    2.4 Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Attractive Market Opportunities in White Spirit Market
    4.2 White Spirit Market, By Type
    4.3 White Spirit Market, By Application
    4.4 Burning Issues 
    4.5 Winning Imperatives

5 Market Overview
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
           5.2.2 Restraints
           5.2.3 Opportunities
           5.2.4 Challenges
    5.3 Porter’s Five Forces 
    5.4 Value Chain Analysis 
    5.5 Macroeconomic Overview

6 White Spirit Market, By Type- Forecast till 2024 (in Tons and USD Million)
    6.1 Type 0 
    6.2 Type 1 
    6.3 Type 2 
    6.4 Type 3 

7 White Spirit Market, By Flash Point- Forecast till 2024 (in Tons and USD Million)
    7.1 Low Flash (21-30OC)
    7.2 Regular Flash (31-54OC)
    7.3 High Flash (>55OC)

8 White Spirit Market, By Application- Forecast till 2024 (in Tons and USD Million)
    8.1 Solvent & Thinners
    8.2 Fuels
    8.3 Cleaning Agents
    8.4 Degreasing Agent
    8.5 Others (Corrosion Inhibitors, and surface active agents)

9 White Spirit Market, By Region – Forecast till 2024 (in Tons and USD Million)
    9.1 Introduction
    9.2 North America
           9.2.1  US
           9.2.2  Canada
    9.3 Europe
           9.3.1  Germany
           9.3.2  Italy
           9.3.3  UK
           9.3.4  France
           9.3.5  Italy
           9.3.6  Spain
           9.3.7  Russia
           9.3.8  Rest of the Europe
    9.4 Asia-Pacific
           9.4.1  China
           9.4.2  Japan
           9.4.3  India
           9.4.4  South Korea
           9.4.5  Rest of Asia-Pacific
    9.5 Middle East & Africa  
           9.5.1  Saudi Arabia
           9.5.2  UAE
           9.5.3 Rest of Middle East & Africa
    9.6 South America
           9.6.1  Brazil
           9.6.2  Argentina
           9.6.3 Rest of South America

10 Competitive Landscape
     10.1  Introduction
     10.2  New Product Launches
     10.3  Expansion Activities
     10.4  Partnerships, Agreements and Collaborations
     10.5  Mergers and Acquisitions
     10.6  Industry Structure
             10.6.1 Market share/ Capacities of key players/ Operational Growth
             10.6.2 Fragmented market or Consolidated
     10.7 Company Strategies – working/not working OR winners vs losers

11 Company Profiles
(Business Overview, Financials^, Products & Services, Key Strategy, and Recent Developments) 
     11.1  Introduction
     11.2  Royal Dutch Shell
     11.3  Total S.A
     11.4  ExxonMobil Corporation
     11.5  Thaioil Group
     11.6 Idemitsu Kosan Co. Ltd
     11.7 Türkiye Petrol Rafinerileri A.S.
     11.8 DHC Solvent Chemie GmbH 
     11.9 Neste OYIJ 
     11.10 Bharat Petroleum Corporation Limited 
     11.11 Indian Oil Corporation Limited 
     11.12 Eagle Petrochem
     11.13 Al Sanea Chemical Products
     11.14 Haltermann Carless Deutschland GmbH
     11.15 Kuwait International Factory
     11.16 Al-Oga Factory for Manufacturing White spirit
     11.17 K H Chemicals
     11.18 Gulf Factory for White Solvent
     11.19 Brenntag AG
     11.20 Banner Chemicals Limited 
     11.21 Pon Pure Chemical Group             
Note:The above list of suppliers is indicative, top 10 plus other significant companies will be identified and profiled during study.^ Financials will be available for listed companies only 

The study involves four major activities in estimating the current market size of white spirit, also known as mineral spirit or mineral turpentine oil (MTO). Exhaustive secondary research was done to collect information related to the white spirit market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg, BusinessWeek, and Dun & Bradstreet have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The white spirit market comprises several stakeholders, such as raw material suppliers, technology developers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of the construction and transportation industries. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents

White Spirit Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the size of the global white spirit market and estimate the sizes of various other dependent submarkets. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry were identified through extensive secondary research.
  • The supply chain of the industry and market size, in terms of value and volume, were determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research includes the study of reports, reviews, and newsletters of the key industry players, along with extensive interviews with key officials, such as directors and marketing executives.

Data Triangulation

After arriving at the total market size through the estimation process explained above, the overall market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market size estimation process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated by using both the top-down and bottom-up approaches. It was then verified through primary interviews. Hence, for every data segment, there are three sources-top-down approach, bottom-up approach, and expert interviews. The data was assumed to be correct when the values arrived at from the three sources matched.

Report Objectives

  • To define, describe, and forecast the market size of white spirits, in terms of value
  • To define, describe, and forecast the market size of white spirits, in terms of volume
  • To provide information about the major factors  (drivers, restraints, opportunities, and challenges) influencing the market growth
  • To analyze and forecast the white spirits market size based on type
  • To analyze and forecast the white spirits market size based on the flash point
  • To analyze and forecast the white spirits market size based on application
  • To forecast the market size of different segments with respect to five regions, namely, APAC, Europe, North America, Middle East & Africa, and South America
  • To forecast the white spirits market size of different segments with respect to key countries of each region
  • To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the market
  • To analyze the competitive developments, such as expansion, acquisition, and new product development, in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies

Available Customizations:

MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data. The following customization options are available for the report:  

Regional Analysis:

  • Further breakdown of a region with respect to a particular country

Company Information:

  • Detailed analysis and profiling of additional market players (up to ten)

Product Analysis

  • Product Matrix that gives a detailed comparison of product portfolio of each company
Report Code
CH 7488
Published ON
Dec, 2019
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