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LAMEA White Spirits Market Size, Share & Trends Analysis Report By Grade (Low Flash Point, Regular Flash Point and High Flash Point), By Application, By Product Type (Type 1, Type 2, Type 3, and Type 0). By Country and Growth Forecast, 2023 - 2030

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    Report

  • 146 Pages
  • March 2024
  • Region: Africa, Middle East
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5953519
The LAMEA White Spirits Market would witness market growth of 7.1% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 824.4 Kilo Tonnes, showcasing a growth of 7.2% (2023-2030).

Low flash points white spirits, typically falling within the range of 21°C to 60°C, are commonly utilized in industries requiring solvents for various purposes such as degreasing, cleaning, and thinning paints or coatings. These low flash point grades, including Type 1, Type 2, and Type 3, exhibit volatile properties, making them suitable for quick evaporation and effective solvent actions. Therefore, the Brazil market utilized 86.62 Kilo Tonnes of low flash point white spirit in 2022.



The Brazil market dominated the LAMEA White Spirits Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $248.8 million by 2030. The Argentina market is showcasing a CAGR of 7.8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.7% during (2023 - 2030).

White spirits, also known as mineral spirits, mineral turpentine, or paint thinner, are a type of solvent commonly used in various industries, including construction, automotive, and manufacturing. They are clear, liquid substances derived from petroleum and typically have a mild odor. White spirits are versatile solvents with a range of applications, primarily due to their ability to dissolve grease, oil, and other substances, as well as their relatively low toxicity compared to other solvents.

Moreover, the white spirits market is influenced by many factors, including economic trends, regulatory policies, technological advancements, and consumer preferences. Economic growth and industrialization in emerging markets fuel demand for white spirits in construction, infrastructure development, and manufacturing activities. Regulatory initiatives aimed at reducing volatile organic compound (VOC) emissions and promoting sustainable practices drive the development of eco-friendly formulations and propel market growth. Moreover, technological innovations in solvent production, such as bio-based alternatives and green chemistry approaches, shape the competitive landscape and offer new opportunities for market expansion.

Countries in the LAMEA region, particularly the Gulf Cooperation Council (GCC) countries, have been experiencing rapid urban development and infrastructure growth, leading to a high demand for construction projects. According to the International Trade Administration (ITA), it is anticipated that the UAE’s construction industry will experience a robust recovery over the next five years, with an annual value growth rate of 4.7%. Hence, the region presents lucrative growth prospects for the market's growth.

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 Brazil, Argentina, UAE, Egypt, South Africa, Nigeria, and Rest of LAMEA.

List of Key Companies Profiled

  • Idemitsu Kosan Co., Ltd.
  • Shell plc
  • Exxon Mobil Corporation
  • TotalEnergies SE
  • Thai Oil Public Company Limited (Petroleum Authority of Thailand (PTT))
  • Indian Oil Corporation Ltd.
  • Bharat Petroleum Corporation Limited
  • DHC Solvent Chemie GmbH (BP Europa SE)
  • Rahaoil, Inc.
  • Alshall International Co.

Market Report Segmentation

By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Low Flash Point
  • Regular Flash Point
  • High Flash Point
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Paint Thinner
  • Solvent Extraction
  • Cleaning Solvent
  • Degreasing Solvent
  • Others
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Type 1
  • Type 2
  • Type 3
  • Type 0
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
  • Brazil
  • Argentina
  • UAE
  • Egypt
  • South Africa
  • Nigeria
  • Rest of LAMEA

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA White Spirits Market, by Grade
1.4.2 LAMEA White Spirits Market, by Application
1.4.3 LAMEA White Spirits Market, by Product Type
1.4.4 LAMEA White Spirits Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
3.3 Porter’s Five Forces Analysis
Chapter 4. LAMEA White Spirits Market by Grade
4.1 LAMEA Low Flash Point Market by Country
4.2 LAMEA Regular Flash Point Market by Country
4.3 LAMEA High Flash Point Market by Country
Chapter 5. LAMEA White Spirits Market by Application
5.1 LAMEA Paint Thinner Market by Country
5.2 LAMEA Solvent Extraction Market by Country
5.3 LAMEA Cleaning Solvent Market by Country
5.4 LAMEA Degreasing Solvent Market by Country
5.5 LAMEA Others Market by Country
Chapter 6. LAMEA White Spirits Market by Product Type
6.1 LAMEA Type 1 Market by Country
6.2 LAMEA Type 2 Market by Country
6.3 LAMEA Type 3 Market by Country
6.4 LAMEA Type 0 Market by Country
Chapter 7. LAMEA White Spirits Market by Country
7.1 Brazil White Spirits Market
7.1.1 Brazil White Spirits Market by Grade
7.1.2 Brazil White Spirits Market by Application
7.1.3 Brazil White Spirits Market by Product Type
7.2 Argentina White Spirits Market
7.2.1 Argentina White Spirits Market by Grade
7.2.2 Argentina White Spirits Market by Application
7.2.3 Argentina White Spirits Market by Product Type
7.3 UAE White Spirits Market
7.3.1 UAE White Spirits Market by Grade
7.3.2 UAE White Spirits Market by Application
7.3.3 UAE White Spirits Market by Product Type
7.4 Egypt White Spirits Market
7.4.1 Egypt White Spirits Market by Grade
7.4.2 Egypt White Spirits Market by Application
7.4.3 Egypt White Spirits Market by Product Type
7.5 South Africa White Spirits Market
7.5.1 South Africa White Spirits Market by Grade
7.5.2 South Africa White Spirits Market by Application
7.5.3 South Africa White Spirits Market by Product Type
7.6 Nigeria White Spirits Market
7.6.1 Nigeria White Spirits Market by Grade
7.6.2 Nigeria White Spirits Market by Application
7.6.3 Nigeria White Spirits Market by Product Type
7.7 Rest of LAMEA White Spirits Market
7.7.1 Rest of LAMEA White Spirits Market by Grade
7.7.2 Rest of LAMEA White Spirits Market by Application
7.7.3 Rest of LAMEA White Spirits Market by Product Type
Chapter 8. Company Profiles
8.1 Idemitsu Kosan Co., Ltd.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 SWOT Analysis
8.2 Shell plc
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 SWOT Analysis
8.3 Exxon Mobil Corporation
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 SWOT Analysis
8.4 TotalEnergies SE
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.4.5 SWOT Analysis
8.5 Thai Oil Public Company Limited (Petroleum Authority of Thailand (PTT))
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 SWOT Analysis
8.6 Indian Oil Corporation Ltd.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 Bharat Petroleum Corporation Limited
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 SWOT Analysis
8.8 DHC Solvent Chemie GmbH (BP Europa SE)
8.8.1 Company Overview
8.8.2 SWOT Analysis
8.9 Rahaoil, Inc.
8.9.1 Company Overview
8.10. Alshall International Co.
8.10.1 Company Overview

Companies Mentioned

  • Idemitsu Kosan Co., Ltd.
  • Shell plc
  • Exxon Mobil Corporation
  • TotalEnergies SE
  • Thai Oil Public Company Limited (Petroleum Authority of Thailand (PTT))
  • Indian Oil Corporation Ltd.
  • Bharat Petroleum Corporation Limited
  • DHC Solvent Chemie GmbH (BP Europa SE)
  • Rahaoil, Inc.
  • Alshall International Co.

Methodology

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