The Latin America, Middle East and Africa White Spirits Market would witness market growth of 7.1% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 824.4 Kilo Tonnes, showcasing a growth of 7.2% (2023-2030).
Low flash points white spirits, typically falling within the range of 21°C to 60°C, are commonly utilized in industries requiring solvents for various purposes such as degreasing, cleaning, and thinning paints or coatings. These low flash point grades, including Type 1, Type 2, and Type 3, exhibit volatile properties, making them suitable for quick evaporation and effective solvent actions. Therefore, the Brazil market utilized 86.62 Kilo Tonnes of low flash point white spirit in 2022.
The Brazil market dominated the LAMEA White Spirits Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $248.8 million by 2030. The Argentina market is showcasing a CAGR of 7.8% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.7% during (2023 - 2030).
White spirits, also known as mineral spirits, mineral turpentine, or paint thinner, are a type of solvent commonly used in various industries, including construction, automotive, and manufacturing. They are clear, liquid substances derived from petroleum and typically have a mild odor. White spirits are versatile solvents with a range of applications, primarily due to their ability to dissolve grease, oil, and other substances, as well as their relatively low toxicity compared to other solvents.
Moreover, the white spirits market is influenced by many factors, including economic trends, regulatory policies, technological advancements, and consumer preferences. Economic growth and industrialization in emerging markets fuel demand for white spirits in construction, infrastructure development, and manufacturing activities. Regulatory initiatives aimed at reducing volatile organic compound (VOC) emissions and promoting sustainable practices drive the development of eco-friendly formulations and propel market growth. Moreover, technological innovations in solvent production, such as bio-based alternatives and green chemistry approaches, shape the competitive landscape and offer new opportunities for market expansion.
Countries in the LAMEA region, particularly the Gulf Cooperation Council (GCC) countries, have been experiencing rapid urban development and infrastructure growth, leading to a high demand for construction projects. According to the International Trade Administration (ITA), it is anticipated that the UAE’s construction industry will experience a robust recovery over the next five years, with an annual value growth rate of 4.7%. Hence, the region presents lucrative growth prospects for the market's growth.
Free Valuable Insights: The Worldwide White Spirits Market is Projected to reach USD 11 Billion by 2030, at a CAGR of 5.5%
Based on Grade, the market is segmented into Low Flash Point, Regular Flash Point and High Flash Point. Based on Application, the market is segmented into Paint Thinner, Solvent Extraction, Cleaning Solvent, Degreasing Solvent and Others. Based on Product Type, the market is segmented into Type 1, Type 2, Type 3, and Type 0. Based on countries, the market is segmented into Brazil, Argentina, UAE, Egypt, South Africa, Nigeria, and Rest of LAMEA.
By Grade (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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