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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the White Spirit Market:
Royal Dutch Shell
Total SA
ExxonMobil
Idemitsu Kosan Co. Ltd.
Bharat Petroleum Corporation Limited
Indian Oil Corporation Limited
Thai Oil Company
Growth drivers and Market Value:
This report, from Stratview Research, studies the White Spirit Market value and growth drivers over the trend period of 2022-27. According to the report -
White Spirit market is likely to witness a CAGR of 4.2% during the forecast period. The prime factor contributing to the demand for white spirit is mainly the increasing demand for paints and coatings from a wide array of industries.
Segment Analysis:
Based on Application Type:
Based on the application type, the market is segmented as thinner & solvent, fuels, cleaning agent, and degreasing agent. Thinner & solvent application is likely to remain the dominant application of the market during the forecast period. White spirit plays a crucial role in the manufacturing of solvent-based paints & coatings, where it is used as a thinner. In the paints & coatings industry, white spirit acts as a thinner to reduce its viscosity and provides a slower rate of evaporation.
Based on Region:
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for white spirit during the forecast period, with China, Japan, India, and South Korea being the major countries with lucrative growth opportunities. The growth of the market is majorly driven by significant economic development in the regions and expanding construction industry, which in turn, is fueling the demand for paints & coatings in the region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for White Spirit Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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