The North America White Spirits Market would witness market growth of 5.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1632.4 Kilo Tonnes, showcasing a growth of 4.5% (2019-2022).
In the white spirits market, cleaning solvent applications play a crucial role in various industries, ranging from automotive and manufacturing to construction and household cleaning. These solvents are utilized for degreasing, surface preparation, and removing contaminants from machinery, equipment, surfaces, and components. With their ability to dissolve oils, greases, and dirt effectively, cleaning solvents ensure thorough cleaning and maintenance, thus prolonging the lifespan and performance of machinery and surfaces. Therefore, the Canada market used 34.6 Kilo Tonnes of white spirit as cleaning solvent in 2022.
The US market dominated the North America White Spirits Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,754.7 million by 2030. The Canada market is experiencing a CAGR of 5.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.1% during (2023 - 2030).
In recent years, the adoption of white spirits has witnessed a significant upswing across various sectors, underscoring their indispensable role in facilitating industrial processes and product formulations. One notable area of increasing adoption is within the construction sector, where white spirits are utilized extensively for surface preparation, paint thinning, and cleaning purposes. For instance, in large-scale projects such as redeveloping urban areas or constructing new infrastructure, white spirits play a crucial role in ensuring proper surface treatment and coating application, thereby enhancing the durability and longevity of structures.
Additionally, rapid urbanization in recent years has contributed to the exponential growth of the construction industry on a large scale. As per the Handbook of Statistics 2023 published by the United Nations Conference on Trade and Development (UNCTAD), an increasing percentage of the global populace resides in urban areas, with 52.5% residing in urban areas in 2012. The proportion of the population residing in urban areas was anticipated to have risen to 56.9% by 2022. In general, it is greater in developed nations (79.7 percent in 2022) than in developing nations.
Mexico, like many other emerging economies, is moving rapidly towards green and more environmentally friendly construction activities. Government regulations encouraging sustainable practices, the desire to lower energy costs as well as enhance building efficiency, and an increased awareness of environmental issues all contribute to this shift. Thus, as the regional nations continue to embrace sustainable practices in construction and manufacturing, the demand for white spirits in eco-friendly coatings and cleaning products is likely to increase.
Free Valuable Insights: The White Spirits Market is Predict to reach USD 11 Billion by 2030, at a CAGR of 5.5%
Based on Grade, the market is segmented into Low Flash Point, Regular Flash Point and High Flash Point. Based on Application, the market is segmented into Paint Thinner, Solvent Extraction, Cleaning Solvent, Degreasing Solvent and Others. Based on Product Type, the market is segmented into Type 1, Type 2, Type 3, and Type 0. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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