Global Mineral Spirits Market Size, Share and Trends Analysis Report – Industry Overview and Forecast to 2032

Mineral Spirits Market Size

• The global mineral spirits market size was valued at USD 1.58 billion in 2024 and is expected to reach USD 2.20 billion by 2032, at a CAGR of 4.27% during the forecast period
• The market growth is largely fuelled by increasing demand from the paints, coatings, and adhesives industries, where mineral spirits are widely used as solvents and thinners for improved product performance
• Rising industrialization and urbanization, particularly in developing regions, are boosting the need for high-quality finishing products, further driving mineral spirits consumption

Mineral Spirits Market Analysis

• Growing awareness of high-performance solvents and eco-friendly formulations is prompting manufacturers to innovate and offer low-aromatic and VOC-compliant mineral spirits, enhancing adoption across industrial and consumer applications
• Increasing DIY and home improvement activities are fueling retail demand for mineral spirits in cleaning, paint thinning, and maintenance applications, especially in North America and Europe
• North America dominated the mineral spirits market with the largest revenue share of 35.6% in 2024, driven by rapid industrialization, growing automotive and manufacturing sectors, and increasing demand for efficient solvents in paint, cleaning, and degreasing applications
• Asia-Pacific region is expected to witness the highest growth rate in the global mineral spirits market, driven by expanding industrial activities, urbanization, rising disposable incomes, and government initiatives supporting manufacturing and infrastructure development
• The Type 1 segment held the largest market revenue share in 2024, driven by its widespread use in industrial cleaning, paint thinning, and degreasing applications. Its high solvency, low odor, and reliable performance make it a preferred choice among manufacturers and industrial end users

Report Scope and Mineral Spirits Market Segmentation      

Mineral Spirits Market Trends

Increasing Usage of Mineral Spirits in Industrial and Automotive Applications

• The growing adoption of mineral spirits as a solvent and cleaning agent is transforming industrial operations by improving efficiency in paint thinning, degreasing, and surface preparation. Its low toxicity and effective solvency make it a preferred choice across automotive, manufacturing, and maintenance applications, reducing operational downtime
• Rising demand for mineral spirits in coatings, adhesives, and chemical formulations is accelerating the market, particularly in regions with expanding construction and industrial sectors. These spirits enable smoother application, enhanced finish quality, and longer product lifespan, meeting the performance expectations of end users
• The versatility, easy handling, and compatibility with multiple substrates are making mineral spirits attractive for both large-scale industrial use and small-scale maintenance applications. Manufacturers benefit from improved productivity and reduced material wastage, supporting overall operational efficiency
  • For instance, in 2023, several automotive workshops in North America reported increased efficiency and reduced labor time after switching to high-quality mineral spirits for engine degreasing and surface cleaning, improving maintenance turnaround
• While mineral spirits are enhancing operational efficiency and product performance, their market growth depends on regulatory compliance, product formulation improvements, and the development of low-VOC and eco-friendly alternatives

Mineral Spirits Market Dynamics

Driver

Rising Industrialization and Growing Demand for Efficient Solvents

• The rapid expansion of automotive, manufacturing, and construction industries is driving the demand for mineral spirits as an efficient solvent. Their ability to clean, degrease, and thin paints reduces labor costs and improves workflow efficiency. In addition, mineral spirits contribute to faster drying times, higher surface quality, and lower rework rates, making them indispensable for large-scale industrial operations
• Increasing consumer and industrial focus on high-quality coatings, adhesives, and cleaning solutions is fueling the adoption of mineral spirits. End users are seeking reliable solvents that ensure better finish, durability, and performance of products. Moreover, mineral spirits support uniform application and minimize defects, enhancing the overall value proposition for manufacturers and service providers
• Expanding applications in emerging economies with rising industrial activity are boosting the consumption of mineral spirits. Businesses are leveraging these solvents to streamline production, reduce operational downtime, and maintain consistent product quality. In addition, government initiatives promoting industrial growth and infrastructure development are creating new opportunities for solvent usage in painting, cleaning, and coating processes
  • For instance, in 2022, several manufacturing units in India adopted mineral spirits for cleaning and thinning operations, resulting in faster production cycles and reduced wastage. Companies reported improved operational efficiency, reduced labor requirements, and better overall product quality, reinforcing the critical role of mineral spirits in industrial workflows
• While industrial growth and operational efficiency drive market demand, innovations in low-VOC formulations and eco-friendly solvents are critical for sustainable adoption. Continued research into safer, greener alternatives is essential to comply with regulations and meet rising consumer expectations for environmentally responsible products

Restraint/Challenge

Regulatory Restrictions and Environmental Concerns Limiting Adoption

• Increasing environmental regulations and VOC emission limits are restricting the use of conventional mineral spirits in several regions. Compliance costs and reformulation requirements can limit adoption, particularly for small and medium enterprises. These regulatory pressures are prompting manufacturers to invest in alternative solvents or modify formulations, adding operational complexity and cost
• The flammable nature and chemical hazards associated with mineral spirits pose safety concerns in storage, handling, and transportation. Strict safety protocols are required, adding to operational costs and complexity. Companies must invest in proper safety infrastructure, training, and insurance coverage to mitigate risks, which can slow adoption in cost-sensitive segments
• Limited availability of low-VOC and eco-friendly alternatives in certain markets may reduce adoption rates, particularly among environmentally conscious industries. Supply chain constraints can also affect timely delivery and product consistency. In addition, regional disparities in regulatory enforcement create uncertainty, making long-term planning and inventory management more challenging for industrial users
  • For instance, in 2023, several construction companies in Europe faced delays in coating and cleaning operations due to stricter VOC regulations, prompting a shift toward compliant solvent alternatives. This transition required adjustments in procurement, workflow planning, and staff training, highlighting the operational impacts of regulatory compliance
• While mineral spirits remain vital across industries, addressing environmental, safety, and regulatory challenges is crucial to unlock the full growth potential of the global market. Ongoing innovation in sustainable formulations, combined with awareness campaigns and regulatory alignment, is essential to balance performance requirements with environmental and safety considerations

Mineral Spirits Market Scope

The market is segmented on the basis of product type and application.

• By Product Type

On the basis of product type, the mineral spirits market is segmented into Type 1, Type 2, Type 3, and Type 0. The Type 1 segment held the largest market revenue share in 2024, driven by its widespread use in industrial cleaning, paint thinning, and degreasing applications. Its high solvency, low odor, and reliable performance make it a preferred choice among manufacturers and industrial end users.

The Type 2 segment is expected to witness the fastest growth rate from 2025 to 2032, fueled by its suitability for specialty applications and emerging industrial processes. Type 2 mineral spirits are increasingly preferred for eco-friendly and low-VOC formulations, making them popular in environmentally conscious regions and high-regulation markets.

• By Application

On the basis of application, the mineral spirits market is segmented into Paint Thinner, Extraction Solvent, Cleaning Solvent, Degreasing Solvent, and Others. The Paint Thinner segment accounted for the largest market share in 2024, due to rising demand in the coatings and construction industries for smooth finishes, reduced drying times, and enhanced operational efficiency.

The Cleaning Solvent segment is expected to witness the fastest growth rate from 2025 to 2032, driven by the increasing industrial and commercial need for efficient cleaning and degreasing solutions. Mineral spirits in cleaning applications provide superior contaminant removal, reduce labor time, and improve productivity, thereby supporting broader industrial adoption.

Mineral Spirits Market Regional Analysis

• North America dominated the mineral spirits market with the largest revenue share of 35.6% in 2024, driven by rapid industrialization, growing automotive and manufacturing sectors, and increasing demand for efficient solvents in paint, cleaning, and degreasing applications
• Industrial users in the region highly value the performance, reliability, and consistency offered by mineral spirits for various manufacturing, maintenance, and cleaning processes
• The widespread adoption is further supported by high disposable incomes, advanced industrial infrastructure, and strict quality standards, establishing mineral spirits as a preferred solvent across multiple industries

U.S. Mineral Spirits Market Insight

The U.S. mineral spirits market captured the largest revenue share in North America in 2024, fueled by increasing demand in industrial, automotive, and construction sectors. End users are focusing on high-quality solvents for efficient paint thinning, cleaning, and degreasing processes. The rising preference for VOC-compliant and low-emission solvents, coupled with growing awareness of eco-friendly alternatives, further supports market growth. Moreover, rapid adoption in small and medium-scale enterprises for operational efficiency is contributing significantly to expansion.

Europe Mineral Spirits Market Insight

The Europe mineral spirits market is expected to witness the fastest growth rate from 2025 to 2032, primarily driven by stringent environmental regulations and growing demand for solvents in automotive, paint, and manufacturing industries. Increasing urbanization and industrial modernization are fostering the adoption of mineral spirits across multiple applications. European users are also drawn to the high purity, low VOC content, and reliable performance offered by these solvents, supporting consistent product quality.

U.K. Mineral Spirits Market Insight

The U.K. mineral spirits market is expected to witness the fastest growth rate from 2025 to 2032, driven by rising industrial activities, automotive manufacturing, and maintenance requirements. The demand for safe, low-VOC, and efficient solvents is encouraging adoption across commercial and industrial sectors. In addition, strong distribution networks and growing awareness about environmentally compliant solvents are expected to stimulate market growth.

Germany Mineral Spirits Market Insight

The Germany mineral spirits market is expected to witness the fastest growth rate from 2025 to 2032, fueled by advanced industrial infrastructure, environmental awareness, and demand for high-performance solvents. Industrial users prefer mineral spirits for applications requiring high purity and consistent performance, particularly in automotive and coatings industries. The integration of sustainable practices and adherence to EU regulations is further driving the adoption of compliant solvent solutions.

Asia-Pacific Mineral Spirits Market Insight

The Asia-Pacific mineral spirits market is expected to witness the fastest growth rate from 2025 to 2032, driven by rapid industrialization, urbanization, and rising manufacturing activities in countries such as China, India, and Japan. The region’s expanding automotive, construction, and paint industries are increasing solvent demand. Moreover, APAC is emerging as a key production hub, improving the affordability and availability of mineral spirits to industrial and commercial consumers.

Japan Mineral Spirits Market Insight

The Japan mineral spirits market is expected to witness the fastest growth rate from 2025 to 2032 due to the country’s high-tech manufacturing base, increasing industrial output, and demand for efficient, reliable solvents. End users are adopting mineral spirits for paint thinning, cleaning, and degreasing in automotive, electronics, and manufacturing sectors. Rising environmental awareness and compliance with domestic emission regulations are shaping the demand for low-VOC, eco-friendly mineral spirits.

China Mineral Spirits Market Insight

The China mineral spirits market accounted for the largest revenue share in Asia-Pacific in 2024, attributed to rapid industrialization, a growing middle-class workforce, and high manufacturing output. Mineral spirits are increasingly used in paint, coating, cleaning, and degreasing applications across automotive, construction, and manufacturing sectors. Government initiatives promoting industrial modernization and the availability of cost-effective, high-quality solvents are key factors propelling market growth in China.

Mineral Spirits Market Share

The Mineral Spirits industry is primarily led by well-established companies, including:

• Royal Dutch Shell plc (Netherlands/UK)
• Exxon Mobil Corporation (U.S.)
• Cepsa (Spain)
• GSB Chemical Co. Pty. Ltd (Australia)
• Neste (Finland)
• HCS Group GmbH (Germany)
• DHC SOLVENT CHEMIE GMBH (Germany)
• Al Sanea (Saudi Arabia)
• Merck KGaA (Germany)
• Recochem Corporation (Canada)
• Total (France)
• Idemitsu Kosan Co., Ltd (Japan)
• Bharat Petroleum Corporation Limited (India)
• Indian Oil Corporation Ltd (India)
• Thai Oil Public Company Limited (Thailand)
• NewAge Industrial Oil Pvt Ltd. (India)
• bp p.l.c. (UK)
• Pon Pure Chemicals (India)
• Ganga Rasayanie (P) Ltd (India) 
• Petro-Canada Lubricants Inc. (Canada)

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