Mineral Spirits Market Global Trends, Growth, Opportunities, Market Size Forecast to 2026

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Mineral spirits market is expected to register a substantial CAGR of 5.47% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the growth in demand for odorless solvents from the paints & coatings market. High growth in its applications area as well as increasing demand for turpentine substitute products; this factor is expected to boost the growth of the market Growing prevalence of low-manufacturing costs and favorable policies for solvent production from the Asia-Pacific region is expected to drive the growth of the market Availability of large-scale manufacturers and players is expected to ensure further innovations and development of product offerings; this factor is expected to drive the growth of the market.

Mineral Spirits Market by Product Type (Type 1, Type 2, Type 3, Type 0), Application (Paint Thinner, Extraction Solvent, Cleaning Solvent, Degreasing Solvent, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026.

Global mineral spirits market also commonly known as white spirit is a transparent-liquid extracted from petroleum due to its solvency characteristics. These features ensure its applications as a paint thinner is significantly high as it is insoluble in water, as it is used as a cleaning, extraction and degreasing solvent. There are different grades/types of solvents available; they are segregated based on their production and modification process. Concerns regarding the VOCs and emissions from these solvents is expected to restrict the growth of the market Toxic and hazardous nature of these products require extra concern and care in handling and its usage; this factor is expected to restrict the growth of the market.

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Segmentation: Global Mineral Spirits Market:
Competitive Analysis:
Global mineral spirits market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mineral spirits market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:
Few of the major competitors currently working in the global mineral spirits market are Royal Dutch Shell; Exxon Mobil Corporation; Cepsa; GSB Chemical Co. Pty. Ltd; Neste; HCS Group; DHC Solvent Chemie GmbH; Al Sanea; Merck KGaA and Recochem Inc. among others.

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Research Methodology: Mineral Spirits Market:
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

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The key questions answered in this report:
What will be the Market Size and Growth Rate in the forecast year?
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What is the Key Outcomes of Porter’s five forces model

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