Market Size of White Spirit Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
White Spirit Market Analysis
The white spirit market is expected to register a CAGR of more than 5% during the forecast period. COVID-19 negatively impacted the market in 2020. However, the market is now estimated to reach pre-pandemic levels and is expected to grow steadily.
- The increasing demand from the paints and coatings industry and augmenting infrastructure development are driving the market's growth.
- On the flip side, toxic and hazardous nature is expected to significantly hinder the market's growth.
- Customization of products more specific to an application and the increasing demand as a substitute for turpentine will likely act as opportunities in the future.
- Asia-Pacific is expected to dominate the global market during the forecast period.
