ASIA-PACIFIC WHITE SPIRITS MARKET FORECAST 2023-2032

The Asia-Pacific white spirits market growth assessment includes the analysis of Australia, Japan, India, China, South Korea, and Rest of Asia-Pacific. In India, the industrial, manufacturing, and automotive sectors contribute to the analyzed market’s growth. Also, the construction sector is projecting steady growth, with growing demand for new buildings, bridges, dams, and roads. In addition, the country has become a prominent destination and host for international events, accredited to its business potential. This has propelled the demand for hotels, shopping malls, high-rise buildings, stadiums, etc., further raising the demand for paints & coatings. Besides, government initiatives with regard to the manufacturing sector have increased the demand for paint thinner. 

Australia is among the largest mixed-market economies globally. The paints & coatings manufacturing industry is an important contributor to Australia’s expanding chemical manufacturing sector. Also, the industry encompasses prominent players with eminent national and global brand names across different product segments and price points. 

The Asia-Pacific white spirits market segmentation includes product type, grade, and application. The product type segment includes Type 2 (Solvent Extraction), Type 0 (Distillation Fraction with no Further Treatment), Type 3 (Hydrogenation), and Type 1 (Hydrodesulfurization).

Hydrodesulfurization (Type 1) is a chemical process that eliminates sulfur from natural gas and refined petroleum products. It is an important process for minimizing sulfur dioxide from residential & industrial furnaces, oil & gas plants, ships, railroad locomotives, aircraft, and automobiles. It is necessary to remove sulfur from the naphtha streams in a petroleum refinery. The industrial hydrodesulfurization processes involve facilities that capture and remove the resulting hydrogen sulfide (H2S) gas.

Hydrogenation (Type 3) is a chemical reaction occurring between hydrogen and other elements or compounds in the presence of a catalyst. It is ineviTABLE  for redox reactions. Conventionally, it constitutes the addition of pairs of hydrogen atoms to a molecule. In addition, hydrogenation decreases double and triple bonds in hydrocarbons. Whereas Type 0 white spirit consists of saturated C9 to C12 hydrocarbons with a boiling range of 140°C to 200°C. Manufacturers use dividing-wall columns and distillation columns for separation.  

Some of the key firms operating in the Asia-Pacific white spirits market are KH Chemicals, HCS Group, Idemitsu Kosan Co Ltd, etc. 

Idemitsu Kosan Co Ltd is a multinational oil and lubricant company in Japan that supplies resources, petrochemical products, petroleum products, etc. The company’s product portfolio includes geothermal, uranium, coal, solvents, engineering plastics, petrochemicals, polyalkylene glycol oil, polyvinyl ether, grease products, lubricants, etc. It is headquartered in Chiyoda City, Tokyo, Japan.