PUBLISHER: Inkwood Research | PRODUCT CODE: 1211106
PUBLISHER: Inkwood Research | PRODUCT CODE: 1211106
The North America white spirits market is estimated to register a CAGR of 5.69% during the forecast period, 2023-2032. The market growth is attributed to the growing demand for automotive paints.
Canada and the United States are assessed for the North America white spirits market growth analysis. Canada is a high-tech industrial country. The automotive, construction, marine, and aerospace sectors of the country use industrial paints & coatings. At the same time, Canada relies on imports for almost half of its paint requirements. Also, the automotive segment encompasses the major use of industrial paints & coatings for refinishing.
Further, Canada's automotive supply sector comprises the largest auto parts companies globally. In addition, the defense and aerospace sectors are recording stable growth within and outside the country due to their robust R&D infrastructure. Besides, the industry, under the North American Free Trade Agreement (NAFTA), caters to export markets globally. This further boosts growth opportunities for paints & coatings, in turn, raising the demand for white spirits.
Moreover, the Canada coatings market is slowly transitioning into an eco-friendly market. This is supplemented by steady support from the government and associations like Canadian Paints and Coatings Association (CPCA) with regard to promoting the usage of eco-friendly industrial paints & coatings. Such factors facilitate growth opportunities for the Canada white spirits market.
Some of the eminent firms in the market include: Total SA, STOCKMEIER Gruppe, PMPI, Royal Dutch Shell Plc, etc.