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| Market size in 2024 | US$ 789.4 million |
Forecast Market size by 2030 | US$ 998.6 million |
|---|---|---|---|
| Growth Rate | CAGR of 4.0% | Number of Pages | 115 Pages |
The global Low Aromatic White Spirit market size was valued at US$ 789.4 million in 2024 and is projected to reach US$ 998.6 million by 2030, at a CAGR of 4.0% during the forecast period 2024-2030.
The United States Low Aromatic White Spirit market size was valued at US$ 198.5 million in 2024 and is projected to reach US$ 243.7 million by 2030, at a CAGR of 3.5% during the forecast period 2024-2030.
Low Aromatic White Spirit is a refined petroleum solvent with reduced aromatic content, used in paints, coatings, and cleaning applications, offering improved safety and environmental performance compared to conventional white spirit.
The global LAWS market is growing steadily, driven by stringent VOC regulations and increasing safety awareness. In 2023, production volume reached 2.5 million metric tons, with the paints and coatings industry accounting for 55% of consumption. The market saw a 12% increase in demand for ultra-low aromatic variants in 2023. Standard grade LAWS dominates with a 70% market share, while premium grades are growing at 6% annually. Europe leads with a 45% market share, while Asia Pacific is the fastest-growing region at 5.2% CAGR. The industry is focusing on developing bio-based alternatives, with an 18% growth in R&D investments for sustainable formulations.
Report Overview
This report provides a deep insight into the global Low Aromatic White Spirit (LAWS) market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Low Aromatic White Spirit (LAWS) Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Low Aromatic White Spirit (LAWS) market in any manner.
Global Low Aromatic White Spirit (LAWS) Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Royal Global Energy
Shell Chemicals
Jaskul Multi Enterprise
Total
Eagle Petrochem
Kuwait International Factory
Maoming Zhengmao Petrochemical
Market Segmentation (by Type)
18% Aromatic Content
17% Aromatic Content
Other
Market Segmentation (by Application)
Paints and Varnishes
Fabrics
Metal Cleaning and Degreasing
Furniture
Rubber
Other
Geographic Segmentation
| Report Attributes | Report Details |
|---|---|
| Report Title | Low Aromatic White Spirit (LAWS) Market, Global Outlook and Forecast 2024-2030 |
| Market size in 2024 | US$ 789.4 million |
| Forecast Market size by 2030 | US$ 998.6 million |
| Growth Rate | CAGR of 4.0% |
| Historical Year | 2018 to 2022 (Data from 2010 can be provided as per availability) |
| Base Year | 2023 |
| Forecast Year | 2031 |
| Number of Pages | 115 Pages |
| Customization Available | Yes, the report can be customized as per your need. |
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