White Spirits Market Size Forecast to Reach $8.6 Billion by 2025
Posted on Jul 30 2020 8:15 AM "Implementation of Stringent Environment Regulations Driving the Growth of White Spirits Market." White Spirits Market size is forecast to reach $8.6 billion by 2025, after growing at a CAGR of 4.8% during 2020-2025. With rise in paints and coatings industry, the demand for white spirits market will also grow, as white spirits are used majorly in the Paints and coating industry. Owing to the volatility and low bioavailability of its constituents, white spirit, although it is moderately toxic to aquatic organisms, but it is ecofriendly. Type - Segment Analysis Type 2 holds the largest market share in the white spirits market. Type 2 white spirit, also known as solvent extracted, is a combination of hydrocarbons, which is obtained as a raffinate from the solvent extraction process. The demand for type 2 white spirit is driven mainly by the growing demand from the paint & coating, adhesives, and cleaning chemical manufacturers. The increasing c...