Research Nester published a report titled “Global Fluorescent Pigment Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global fluorescent pigment market in terms of market segmentation by product, state, application and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
Fluorescent pigments tend to be modified in a manner, which can change the character to detectable and measurable levels. The increase in luminescent usage excited by UV and IR is increasing due to security printing and counterfeiting prevention. The other use includes brand protection and security of the product by creating invisible security marks and features and identifying and preventing the loss. In 2020, the global fluorescent pigment market garnered USD 390.2 Million and by 2028, the market is estimated to touch USD 543.6 Million by growing at a CAGR of 4.9% over the forecast period, i.e., 2021-2028. On the basis of product type, the global market is divided into organic fluorescent pigment and inorganic fluorescent pigment out of which, the organic fluorescent pigment segment is estimated to grab the highest CAGR throughout the forecast period.
Regionally, the global fluorescent pigment market is segmented into five major regions comprising North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market accounted for highest market value (USD 123.6 Million) in 2020 and is further projected to grow significantly during the forecast period on the account of their usage as a security mark or to add some luminescent features which are not visible under normal light. The luminescent pigments cannot be duplicated in the ultra-sophisticated photocopier and hence are used for printing security stamps, credit cards, checks, licenses, and others
Increasing Counterfeiting Activities to Boost Market Growth
Australia and Singapore are trying to curb the spread of fake currency. According to the Reserve Bank of Australia, in the 2019-20 financial year, 21,474 counterfeit banknotes with a nominal value of USD 1.63 million were detected across the nation. More than 11,300 of those were AUD 100 notes, while 9,821 were AUD 50 notes. Due to severe economic conditions and a high inflation rate in Vietnam, the prevalence of counterfeit currency is high. Moreover, Countries in Europe, such as Germany and Spain, among others, are facing the problem of fake currency circulation. As per the Deutsche Bundesbank, in 2019, more than 27,600 counterfeit notes circulated in Germany, holding a false face value of around USD 1.8 million. Crimes related to forged bank bonds and identification certificates are also increasing in the UK, as many English websites such as Topukbonds.com are selling fake bonds, fluorescent pigments, which are considered a safe alternative to other inks for security purposes, will be in demand during the forecasted period.
This report also provides the existing competitive scenario of some of the key players of the global fluorescent pigment market which includes company profiling of Radiant Color NV, Hangzhou Aibai Chemical Co. Ltd., Organic Dyes and Pigments LLC, Luminochem Ltd., Ukseung Chemical Co. Ltd, Aron Universal Limited, Vicome Corp., Huangshan Jiajia Fluorescent Material Co., Ltd., Wanlong Chemical Co., Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fluorescent pigment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.