According to a new report, published by KBV research, The Global White Spirits Market size is expected to reach $11 billion by 2030, rising at a market growth of 5.5% CAGR during the forecast period. In the year 2022, the market attained a volume of 9000.7 Kilo Tonnes, experiencing a growth of 4.7% (2019-2022).
The emergence of new application areas such as electronics manufacturing, precision engineering, and pharmaceuticals presents untapped opportunities for market expansion. Furthermore, digitalization and automation technologies are poised to transform the white spirits market, enabling manufacturers to optimize production processes, improve efficiency, and reduce operational costs. By leveraging data analytics, artificial intelligence, and Internet of Things (IoT) solutions, companies can enhance product quality, streamline supply chain management, and respond rapidly to changing market demands.
The high flash point segment is poised to have a CAGR of 6.2% during (2023 - 2030). The need for safety, durability, versatility, and regulatory compliance in various industrial applications drives the demand for white spirits with high flash points. White spirits with high flash points are often preferred in applications where compatibility with other chemicals and materials is essential. These solvents can be used safely with a wide range of substrates, coatings, and formulations without causing damage or adverse reactions, making them versatile options for various industrial processes and applications.
The Paint Thinner segment is leading the Global White Spirits Market by Application in 2022 thereby, achieving a market value of $4.8 billion by 2030. Increased demand for paint thinners can be attributed to home improvement trends, construction activity, industrial applications, DIY culture, environmental regulations, and specialized market needs. Industries such as automotive, aerospace, manufacturing, and construction rely heavily on paint thinners for surface preparation, cleaning, and thinning paints and coatings.
The Type 2 segment is anticipated to have a CAGR of 5.1% during (2023 - 2030). Type 2 white spirits are commonly used as thinners, diluents, and solvents in the formulation of paints, varnishes, lacquers, and coatings. They help achieve the desired viscosity, flow, and drying properties of the final product. With increasing construction and infrastructure development activities worldwide, the demand for paints and coatings is growing, thereby propelling the demand for type 2 white spirits.
Full Report: https://www.kbvresearch.com/white-spirits-market/
The Asia Pacific region dominated the Global White Spirits Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.8 billion by 2030. The Europe region is experiencing a CAGR of 5.1% during (2023 - 2030). Additionally, The North America region would exhibit a CAGR of 5.3% during (2023 - 2030).
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)
Unique Offerings 
