(MENAFN- EIN Presswire) EINPresswire/ -- The global white spirits market is poised for steady growth, driven by rising demand across end-use industries such as adhesives, coatings, and inks & dyes. Extensive usage of white spirits as aerosol, cleaning, and degreasing solvents, along with their wide-ranging applications in the painting sector, continues to propel market expansion. According to a report published by Allied Market Research, the market was valued at $6.5 billion in 2020 and is projected to reach $11.2 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030.

The study offers comprehensive insights into top investment pockets, emerging opportunities, competitive dynamics, market size estimations, and evolving trends. While the growing use of white spirits to enhance paint smoothness and reduce viscosity is expected to unlock new opportunities, increasing health concerns associated with long-term exposure may pose challenges to market growth.

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Segmental Highlights:-

By Product Type:

- Type 1 dominated the market in 2020, accounting for over half of the total share. Type 3 is expected to grow at the fastest rate, with a projected CAGR of 6.0% during the forecast period.

By Grade:

- The low flash point segment led the market in 2020 with nearly half of the overall share. The high flash point segment, however, is estimated to witness the fastest growth at a CAGR of 6.1% through 2030.

By Region:

- Europe held the largest market share in 2020, contributing nearly two-fifths of global revenue. In contrast, the Asia-Pacific region is set to record the fastest growth, expanding at a CAGR of 7.0% during the forecast period.

Key Market Players:

Prominent companies profiled in the report include:

- Kuwait International Factory, Kapco Petroleum Industries FZC, Shell plc, Exxon Mobil Corporation, TotalEnergies, Alshall International Co., Ahmadullins: Sciences & Technologies, DHC Solvent Chemie GmbH, Pacer, and Rahaoil Inc.

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About Us:

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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