Research Nester has released a report titled “Fluorescent Pigments Market – Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global fluorescent pigments market in terms of market segmentation by type, application, pigment state and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global fluorescent pigments market is segmented by type into daylight fluorescents, optical whiteners and inorganic fluorescents, out of which, the optical whiteners segment is anticipated to hold the largest market share by the end of 2027 by registering a CAGR of around 5.5% over the forecast period, i.e. 2019-2027. The segment, which held a market share of around 57% share in the year 2018 is anticipated to cross a value of around USD 1050 million by the end of 2027. Apparently, the daylight fluorescents segment is estimated to grow with the highest CAGR of around 7% over the forecast period.
The global fluorescent pigments market is anticipated to achieve a CAGR of around 6% over the forecast period. Growing research and development activities for the innovation and production of high-performance pigments that has helped to develop several characteristics in the pigments including resistance to light, heat, organic solvents, humidity and others, along with the increasing application of fluorescent pigments in the medical industry as markets to perform several microbiological activities in labs across agriculture, medical, biological or biochemistry labs are some of the factors anticipated to contribute significantly towards the growth of the global fluorescent pigments market. The market is anticipated to garner a value of around USD 1800 million by the end of 2027 from a value of around USD 1100 million in the year 2018 and further achieve an incremental $ opportunity of around USD 110 million in the year 2027 as compared to the previous years.
Regionally, the global fluorescent pigments market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to hold the largest market share owing to the presence of nations, such as U.S. and Canada, where U.S. held the dominant market share of around 59% in the year 2018. The North America fluorescent pigments market, which held a market share of around 33% in the year 2018, is further expected to expand by observing the growth rate of around 1.6x throughout the assessment period and cross a value of around USD 600 million by the end of 2027 by registering a CAGR of around 6% during the forecast period.
Increasing Application of Fluorescent Pigments in End User Industries
Owing to numerous characteristics of pigments, such as durability, resistant to heat and other characteristic properties, paints and pigments have been used aggressively across end user industries such as textile, construction and automobile over the years. Continuous efforts along with research and developmental activities by several key players have led to the development of advanced fluorescent pigments from colorants, extenders and functional pigments. These efforts have also helped for the development of customized pigments from fluorescent pigments, which are widely used across numerous end user applications. The rising demand for fluorescent pigments from the end user industries owing to its numerous benefits and applications, coupled with factors such as R&D activities to develop advanced fluorescent pigments, demand for colorful packaging for appealing products and the development in 3D printing technology are some of the factors anticipated to drive the growth of the global fluorescent pigments market.
However, concerns regarding the presence of stringent regulatory norms across several nations for the marketing of these pigments especially for food coloring or any other chemical effect that can be harmful in nature are some of the factors anticipated to limit the growth of the global fluorescent pigments market.
This report also provides the existing competitive scenario of some of the key players of the global fluorescent pigments market, which includes company profiling of Radiant Color NV., Ukseung Chemical Co., Ltd., LuminoChem Ltd., Sinloihi Co. Ltd., Huangshan Jiajia Fluorescent Material Co., Ltd., Wanlong Chemical Co., Ltd., Aron Universal Limited, J Color Chemicals, Vicome Corp. and Wuxi Ming Hui International Trading 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 pigments 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