WHITE SPIRITS MARKET ANALYSIS

White Spirits Market, By Material (Type 0, Type 1, Type 2, and Type 3), By Flash Point (Low Flash Point, Medium Flash Point, and High Flash Point), By Application (Paint Thinner, Cleansing Agent, Degreasing Agent, Fuel, Disinfectant, and Other), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

In December 2022, ExxonMobil announced its five-year corporate plan, which features a considerable increase in investments aimed at reducing emissions and supporting lower-emission projects including its Low Carbon Solutions division. By 2027, the plan aims to sustain annual capital expenditures between USD 20-25 billion, while boosting investments in lower-emission initiatives to approximately USD 17 billion. ExxonMobil Corporation is a prominent American multinational oil and gas company, recognized as the largest direct descendant of John D. Rockefeller's Standard Oil.
In July 2022, Adnoc Distribution, UAE's petroleum and retail distributor, announced its acquisition of a 50% stake in TotalEnergies Marketing Egypt for about USD 186 million. It entered into a supply agreement for white spirit with Adnoc, and this can enhance the company's market share over time.
In February 2021, Abu Dhabi National Oil Company (ADNOC) announced the addition of white spirits and solvents to its product portfolio. This expansion is aimed at strengthening the company's presence in the international market. The Abu Dhabi National Oil Company (ADNOC) is the state-owned oil company of the United Arab Emirates (UAE) and is one of the largest oil producers in the world.