White spirit, often known as mineral turpentine, is a clear petroleum-based liquid used in the paint industry as an organic solvent. Alicyclic, aliphatic, and aromatic hydrocarbons with carbon numbers ranging from C7 to C12 make up the white spirit. They're mostly utilised as a paint thinner and a solvent for extracting, degreasing, and cleaning machine parts. It's a low-cost petroleum-based alternative to vegetable-based turpentine. It's less hazardous and combustible, and it's also used to thin inks for monoprints.
Drivers
Strong economic growth and changing demographics are predicted to drive demand for white spirit in key nations such as Brazil, Russia, China, and India. Furthermore, the development of infrastructure across the developing world, combined with the growing demand for white spirit from the automotive industry, is expected to drive white spirit market growth. Furthermore, the growing manufacturing industry around the world is likely to support white spirit market expansion over the forecast period.
White spirit's market expansion is predicted to be fueled by rising demand for it as a turpentine substitute because it is an affordable petroleum-derived product often used as a paint thinner for oil-based paint and for cleaning brushes. Furthermore, increased demand for white spirit from artists, who prefer it because it is less flammable and substantially less hazardous, is expected to drive white spirit market expansion over the forecast period. Additionally, it is favored by end-users since it contains no residual sulfur.
Restriction on the Market
The risk connected with the use of white spirits, which can result in central nervous system depression and a lack of coordination, is projected to stymie market expansion. Furthermore, exposure to white spirits can cause narcotic effects such as drowsiness, dizziness, nausea, and other unpleasant sensations. As a result, the negative side effects connected with the use of white spirits are projected to limit market expansion.
Opportunities in the Market
Over the projected period, the increased launch of new and innovative products in the white spirit market is likely to fuel market expansion. For example, Thailand's largest beverage and food conglomerate, THAI Beverage Plc (ThaiBev), announced the launch of Ruang Khao Silver, a new white spirit product, to reach core white spirit markets in Myanmar, Vietnam, and the Philippines in October 2017. As a result, the market expansion is expected to be fueled by the rising launch of new and innovative products.
Section of Competition
ExxonMobil Corporation, Royal Dutch Shell Plc, Total S.A., Idemitsu Kosan Co., Ltd., Compaa Espaola de Petróleos, S.A.U. (CEPSA), Neste Oyj, Haltermann Carless Deutschland GmbH, DHC Solvent Chemie GmbH, Al Sanea Chemical Products, and GSB Chemical Co. Pty. Ltd. are among the market's leading players.
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