The global white spirits market was valued at $5,360 million in 2016, and is anticipated to reach $7,671 million, growing at a CAGR of 5.3% from 2017 to 2023. White spirits are substances comprising aliphatic, alicyclic, and aromatic hydrocarbons with carbon numbers in the range of C7 to C12. These are clear, colorless, and flammable liquids with a flash point of approximately 21°C‐68°C.
These have a density of approximately 0.8 g/ml, slight water solubility, and a vapor pressure in the range of 0.3‐3.0 kPa. They have a distinct odor with an odor threshold of 0.5‐5.0 mg/m3 in air due to the high content of aromatic hydrocarbons.
In 2016, Europe and North America were the leading revenue contributors to the global market. In the same year, Asia-Pacific registered the highest growth rate, owing to a substantial rise in the demand for white spirits in infrastructural development.
The global white spirits market is segmented based on product, application, and geography. On the basis of product, it is divided into type 1, type 2, type 3, and type 0. Based on application, it is classified into paint thinner, extraction solvent, cleaning solvent, degreasing solvent, fuel, disinfectant, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major market players are as follows
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