CHINA WHITE SPIRITS MARKET FORECAST 2023-2030
The China white spirits market is set to project a CAGR of 5.45% during the forecast period, 2023-2030, and is estimated to reach a revenue of $xx million by 2030.
CHINA WHITE SPIRITS MARKET FORECAST 2023-2030
China 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)
The China white spirits market is set to project a CAGR of 5.45% during the forecast period, 2023-2030, and is estimated to reach a revenue of $xx million by 2030.
Government initiatives and policies regarding infrastructural development and activities offer growth opportunities for the China white spirits market. Also, the increasing revenue generation from industries like paper, pulp, and plastics, contributes to market growth. As per China’s five-year plan in January 2022, the construction industry in China is expected to register steady growth in the coming years.
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Accordingly, the country plans to increase the construction of prefabricated buildings to minimize pollution and waste from construction sites. Besides, the growing demand for decorative coating is anticipated to increase the demand for paints & coatings.
Furthermore, investments in infrastructure are a key growth driver of the China white spirits market. The infrastructure sector is a major end-user of protective coatings. It requires corrosion and environmental effects-resistant coatings due to exposure of infrastructure surfaces to dust, acid rain, water, and heat & sunlight. In addition, the infrastructure sector uses protective coatings for bridges and coastal structures, public power generation & transmission centers, rail structures, water treatment plants, etc. Such factors facilitate growth opportunities for the China white spirits market.
The China white spirits market scope includes application, grade, and product type. The grade segment includes high flash point, regular flash point, and low flash point.
Low flash point white spirit is majorly used in paints, varnishes, and cleaning products, as an extraction and degreasing solvent. It is used by both professional and amateur painters as a diluent. The segment growth is driven by the growing demand for this spirit as a turpentine substitute, a steady demand from the paints & coatings industry, and low kerosene prices. Also, a global shift toward low aromatic white spirit (LAWS) is anticipated to increase the product portfolio and application of low flash point white spirits.
Furthermore, the product type segment includes Type 0 (Distillation Fraction with no Further Treatment), Type 2 (Solvent Extraction), Type 3 (Hydrogenation), and Type 1 (Hydrodesulfurization). White spirit is a mixture of aliphatic and alicyclic organic hydrocarbon atoms. It can be used for solvent extraction as an aerosol and degreasing solvent. It is primarily used for cleaning paintbrushes.
Some of the leading market players in the China white spirits market are KH Chemicals, Hebei Dechuang Chemical Equipment Co Ltd, ExxonMobil Corporation, etc.
ExxonMobil Corporation is one of the largest multinational oil & gas corporations globally. It manufactures and markets commodity petrochemicals, including polypropylene & polyethylene plastics, aromatics, olefins, and a range of other specialty products.
The company’s major business segments include the manufacture of petroleum products, natural gas & petroleum products, transportation & sale of crude oil, exploration & production of crude oil & natural gas, and power generation. The company operates in Australia, Asia, Africa, Europe, South America, Canada, and the United States, with headquarters in Irving, TX, the United States.
Report Synopsis
| Report Scope | Details |
| Market Forecast Years | 2023-2030 |
| Base Year | 2022 |
| Market Historical Years | 2018-2022 |
| Forecast Units | Revenue ($ Million) |
| Segments Analyzed | Product Type, Grade, Application |
| Country Analyzed | China |
| Companies Analyzed |
ExxonMobil Corporation, Hebei Dechuang Chemical Equipment Co Ltd, KH Chemicals, Qufu Confucius Family Liquor Brewing Co Ltd, Royal Dutch Shell Plc |
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- COUNTRY SNAPSHOT
- COUNTRY ANALYSIS
- KEY GROWTH ENABLERS
- KEY CHALLENGES
- KEY ANALYTICS
- IMPACT OF COVID-19 ON WHITE SPIRITS MARKET
- KEY MARKET TRENDS
- PORTER’S FIVE FORCES ANALYSIS
- BUYERS POWER
- SUPPLIERS POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- PESTLE ANALYSIS – CHINA
- KEY BUYING CRITERIA
- REGULATORY FRAMEWORK
- 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
- COMPETITIVE LANDSCAPE
- KEY STRATEGIC DEVELOPMENTS
- MERGERS & ACQUISITIONS
- PRODUCT LAUNCHES & DEVELOPMENTS
- PARTNERSHIPS & AGREEMENTS
- BUSINESS EXPANSIONS & DIVESTITURES
- COMPANY PROFILES
- EXXONMOBIL CORPORATION
- HEBEI DECHUANG CHEMICAL EQUIPMENT CO LTD
- KH CHEMICALS
- QUFU CONFUCIUS FAMILY LIQUOR BREWING CO LTD
- ROYAL DUTCH SHELL PLC
- KEY STRATEGIC DEVELOPMENTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – WHITE SPIRITS
TABLE 2: REGULATORY FRAMEWORK
TABLE 3: CHINA WHITE SPIRITS MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 4: CHINA WHITE SPIRITS MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2023-2030 (IN $ MILLION)
TABLE 5: CHINA WHITE SPIRITS MARKET, BY GRADE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 6: CHINA WHITE SPIRITS MARKET, BY GRADE, FORECAST YEARS, 2023-2030 (IN $ MILLION)
TABLE 7: CHINA WHITE SPIRITS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 8: CHINA WHITE SPIRITS MARKET, BY APPLICATION, FORECAST YEARS, 2023-2030 (IN $ MILLION)
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER’S FIVE FORCES ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: KEY BUYING CRITERIA
FIGURE 5: CHINA WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2022
FIGURE 6: CHINA WHITE SPIRITS MARKET, BY TYPE 0 (DISTILLATION FRACTION WITH NO FURTHER TREATMENT), 2023-2030 (IN $ MILLION)
FIGURE 7: CHINA WHITE SPIRITS MARKET, BY TYPE 1 (HYDRODESULFURIZATION), 2023-2030 (IN $ MILLION)
FIGURE 8: CHINA WHITE SPIRITS MARKET, BY TYPE 2 (SOLVENT EXTRACTION), 2023-2030 (IN $ MILLION)
FIGURE 9: CHINA WHITE SPIRITS MARKET, BY TYPE 3 (HYDROGENATION), 2023-2030 (IN $ MILLION)
FIGURE 10: CHINA WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY GRADE, IN 2022
FIGURE 11: CHINA WHITE SPIRITS MARKET, BY LOW FLASH POINT, 2023-2030 (IN $ MILLION)
FIGURE 12: CHINA WHITE SPIRITS MARKET, BY REGULAR FLASH POINT, 2023-2030 (IN $ MILLION)
FIGURE 13: CHINA WHITE SPIRITS MARKET, BY HIGH FLASH POINT, 2023-2030 (IN $ MILLION)
FIGURE 14: CHINA WHITE SPIRITS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022
FIGURE 15: CHINA WHITE SPIRITS MARKET, BY PAINT THINNER, 2023-2030 (IN $ MILLION)
FIGURE 16: CHINA WHITE SPIRITS MARKET, BY CLEANING SOLVENT, 2023-2030 (IN $ MILLION)
FIGURE 17: CHINA WHITE SPIRITS MARKET, BY DEGREASING SOLVENT, 2023-2030 (IN $ MILLION)
FIGURE 18: CHINA WHITE SPIRITS MARKET, BY FUEL, 2023-2030 (IN $ MILLION)
FIGURE 19: CHINA WHITE SPIRITS MARKET, BY DISINFECTANT, 2023-2030 (IN $ MILLION)
FIGURE 20: CHINA WHITE SPIRITS MARKET, BY OTHER APPLICATIONS, 2023-2030 (IN $ MILLION)
- 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
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