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ASIA-PACIFIC WHITE SPIRITS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Asia-Pacific White Spirits Market by Product Type (Type 0 (Distillation Fraction With No Further Treatment), Type 1 (Hydrodesulfurization), Type 2 (Solvent Extraction), Type 3 (Hydrogenation)) Market by Grade (Low Flash Point, Regular Flash Point, High Flash Point) Market by Application (Paint Thinner, Cleaning Solvent, Degreasing Solvent, Fuel, Disinfectant, Other Applications) by Geography


MARKET OVERVIEW

The Asia-Pacific white spirits market is expected to record a CAGR of 6.01% during the forecast period, 2023-2032, and is set to garner a revenue of $xx million by 2032.

The white spirits market growth in Asia-Pacific is attributed to the thriving automotive and paints & coatings industries. Also, the flourishing construction sector offers growth opportunities for white spirits in Asia-Pacific.

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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.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Product Type, Grade, Application
Countries AnalyzedAustralia, Japan, India, China, South Korea, and Rest of Asia-Pacific
Companies AnalyzedCepsa, DHC Solvent Chemie GmbH, ExxonMobil Corporation, HCS Group, Idemitsu Kosan Co Ltd, KH Chemicals, KIF, PMPI, Royal Dutch Shell Plc, STOCKMEIER Gruppe, Total SA

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. SCOPE OF STUDY
    3. METHODOLOGY
    4. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. THRIVING AUTOMOTIVE INDUSTRY
      2. ESCALATING NEED FOR CLEANING AND DEGREASING CHEMICALS
      3. DEMOGRAPHIC SHIFTS AND IMPROVED ECONOMIC CONDITIONS
      4. GOVERNMENT INITIATIVES
    2. KEY RESTRAINTS
      1. HEALTH HAZARDS
      2. AVAILABILITY OF SUBSTITUTES
  4. KEY ANALYTICS
    1. IMPACT OF COVID-19 ON WHITE SPIRITS MARKET
    2. KEY MARKET TRENDS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. OPPORTUNITY MATRIX
    5. VENDOR LANDSCAPE
    6. KEY BUYING CRITERIA
    7. REGULATORY FRAMEWORK
  5. MARKET BY PRODUCT TYPE 
    1. TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT)
    2. TYPE 1 (HYDRODESULFURIZATION)
    3. TYPE 2 (SOLVENT EXTRACTION)
    4. TYPE 3 (HYDROGENATION)
  6. MARKET BY GRADE
    1. LOW FLASH POINT
    2. REGULAR FLASH POINT
    3. HIGH FLASH POINT
  7. MARKET BY APPLICATION
    1. PAINT THINNER
    2. CLEANING SOLVENT
    3. DEGREASING SOLVENT
    4. FUEL
    5. DISINFECTANT
    6. OTHER APPLICATIONS
  8. GEOGRAPHICAL ANALYSIS 
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. KEY GROWTH ENABLERS
      3. KEY CHALLENGES
      4. KEY PLAYERS
      5. COUNTRY ANALYSIS
        1. CHINA
        2. JAPAN
        3. INDIA
        4. SOUTH KOREA
        5. AUSTRALIA 
        6. REST OF ASIA-PACIFIC
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. CEPSA
      2. DHC SOLVENT CHEMIE GMBH
      3. EXXONMOBIL CORPORATION
      4. HCS GROUP
      5. IDEMITSU KOSAN CO LTD
      6. KH CHEMICALS
      7. KIF
      8. PMPI
      9. ROYAL DUTCH SHELL PLC
      10. STOCKMEIER GRUPPE
      11. TOTAL SA

LIST OF TABLES

TABLE 1:  MARKET SNAPSHOT – WHITE SPIRITS

TABLE 2:  REGULATORY FRAMEWORK

TABLE 3:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 5:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY GRADE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY GRADE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 7:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 9:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 10:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 11:  LEADING PLAYERS OPERATING IN ASIA-PACIFIC WHITE SPIRITS MARKET

TABLE 12:  LIST OF MERGERS & ACQUISITIONS

TABLE 13:  LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 14:  LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 15:  LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1:  KEY MARKET TRENDS

FIGURE 2:  PORTER’S FIVE FORCES ANALYSIS

FIGURE 3:  OPPORTUNITY MATRIX

FIGURE 4:  VENDOR LANDSCAPE

FIGURE 5:  KEY BUYING CRITERIA

FIGURE 6:  ASIA-PACIFIC WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2022

FIGURE 7:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT), 2023-2032 (IN $ MILLION)

FIGURE 8:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY TYPE 1 (HYDRODESULFURIZATION), 2023-2032 (IN $ MILLION)

FIGURE 9:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY TYPE 2 (SOLVENT EXTRACTION), 2023-2032 (IN $ MILLION)

FIGURE 10:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY TYPE 3 (HYDROGENATION), 2023-2032 (IN $ MILLION)

FIGURE 11:  ASIA-PACIFIC WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY GRADE, IN 2022 

FIGURE 12:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY LOW FLASH POINT, 2023-2032 (IN $ MILLION)

FIGURE 13:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY REGULAR FLASH POINT, 2023-2032 (IN $ MILLION)

FIGURE 14:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY HIGH FLASH POINT, 2023-2032 (IN $ MILLION)

FIGURE 15:  ASIA-PACIFIC WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022 

FIGURE 16:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY PAINT THINNER, 2023-2032 (IN $ MILLION)

FIGURE 17:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY CLEANING SOLVENT, 2023-2032 (IN $ MILLION)

FIGURE 18:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY DEGREASING SOLVENT, 2023-2032 (IN $ MILLION)

FIGURE 19:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY FUEL, 2023-2032 (IN $ MILLION)

FIGURE 20:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY DISINFECTANT, 2023-2032 (IN $ MILLION)

FIGURE 21:  ASIA-PACIFIC WHITE SPIRITS MARKET, BY OTHER APPLICATIONS, 2023-2032 (IN $ MILLION)

FIGURE 22:  ASIA-PACIFIC WHITE SPIRITS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 23:  CHINA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 24:  JAPAN WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 25:  INDIA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 26:  SOUTH KOREA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 27:  AUSTRALIA WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 28:  REST OF ASIA-PACIFIC WHITE SPIRITS MARKET, 2023-2032 (IN $ MILLION)

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