Covid-19 Impact on White Spirit Market Set for Rapid Growth and Expansion during 2022-28 The white spirit market was estimated at USD 7.02 billion in 2021 and is likely to grow at a CAGR of 4.15% during 2022-2028 to reach USD 9.37 billion in 2028. The prime factor contributing to the demand for white spirits is the increasing demand for paints and coatings from various industries. What is white spirit? White Spirit or mineral seat or mineral turpentine oil (MTO) is a petrochemical solvent, which contains C7 to C12 aliphatic, acyclic, and aromatic hydrocarbons with a boiling range varying between 65-230°C. It is a clear, colorless, and flammable liquid with flash points between 21-68 °C and an aromatic content ranging between 2% to 25%. White Spirits are usually of four types (type 0, type 1, type 2, and type 3) that are produced as the fractional distillation fractions from naphtha and kerosene cut of crude oil. They are majorly used in applications such as thinner & solvent, fuels, cleansing agents, and degreasing agents. COVID-19 IMPACT The covid-19 pandemic negatively impacted the white spirit market in the year 2020. Several countries imposed strict restrictions and lockdowns during the pandemic. The demand for the white spirit declined as the various industries where its needed halted operations. However, the market is expected to recover and register healthy growth in the forecast period. Read More: https://www.stratviewresearch.com/1762/white-spirit-market.html