Chemicals and Advanced Materials

Fluorescent Pigments Market Segmentation By Type (Daylight, Optical Whiteners and Inorganic); By Application (Printing Ink, Paints & coatings, Textile, Plastics and Others) and By Pigment State (Powdered and Aqueous) - Global Industry Demand Analysis and Opportunity Assessment 2018-2027

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Report ID: 1125 | Published On: Apr 06, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


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Fluorescent Pigment Market Overview

The growth of the global fluorescent pigments market is thriving on the back of the growing research and development activities for the innovation and production of high-performance pigments which has helped significantly to develop pigments with characteristics bearing resistance to light, heat, organic solvents, humidity and others, coupled with the growing application of fluorescent pigments in the medical industry. Fluorescent pigments are used as markers for performing several microbiological activities in the healthcare industry. As such, it is widely used in agriculture, medical, biology or biochemistry labs.

The global fluorescent pigments market reached a value of around USD 1100 million in the year 2018 and is expected to garner a value of around USD 1800 million by the end of 2027 by registering a CAGR of around 6% during the forecast period, i.e. 2019-2027. Further, the worldwide market of fluorescent pigments is anticipated to achieve an incremental $ opportunity of around USD 110 million in the year 2027 as compared to the previous years.


Growth Highlights based on Region during 2018-2027

The global fluorescent pigments market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. Among these regions, the market of North America fluorescent pigments is driven by nations such as U.S. and Canada, where U.S. held the dominant market share of around 59% in the year 2018. Additionally, the market in North America held a market share of around 33% in the year 2018 and is anticipated to cross a value of around USD 600 million by the end of 2027 by registering a CAGR of around 6% during the forecast period. Moreover, the market of fluorescent pigments in North America is expected to expand by observing the growth rate of around 1.6x throughout the assessment period, which in turn is estimated to have a positive effect on the demand for fluorescent pigments in the long run.

Further, Germany, U.K., France and Italy are some of the prominent countries that are driving the growth of the Europe fluorescent pigments market, where Germany accounted for the largest market share of around 22% in the year 2018. Additionally, the market in the nation is expected to cross a value of around USD 110 million by the end of 2027 by registering a CAGR of around 6% throughout the forecast period. On the other hand, France is anticipated to grow with the highest CAGR of around 7% over the forecast period.

Fluorescent Pigments Market Graph

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). 


Market Segmentation Synopsis

By Type

The global fluorescent pigments market has been segmented on the basis of type into daylight fluorescents, optical whiteners and inorganic fluorescents. The optical whiteners segment with around 57% share in the year 2018 occupies the largest market of fluorescent pigments across the globe. Additionally, the optical whiteners segment is anticipated to cross a value of around USD 1050 million by the end of 2027 by registering a CAGR of around 5.5% over the forecast period. Further, the daylight fluorescents segment is estimated to grow with the highest CAGR of around 7% over the forecast period.

Fluorescent Pigments Market Share Image

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Fluorescent Pigments Market Graph
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Market Drivers and Challenges

Growth Indicators

Paints and pigments are increasingly used across end user industries including textile, construction and automobile industries owing to its durability, resistant to heat and other characteristic properties. Besides, numerous market players are increasingly focusing on to develop advanced fluorescent pigments from colorants, extenders and functional pigments, as well as develop customized pigments for various uses. Moreover, the increasing demand for fluorescent pigments from consumers owing to the availability of numerous product forms of fluorescent pigments as well as continuous research and developmental activities to develop new products by the utilization of fluorescent pigments is contributing to the rising demand for such pigments, which is also anticipated to drive the growth of the global fluorescent pigments market. Additionally, factors such as improving lifestyle of people, rising per capita income, and others are contributing to the increasing need amongst individuals for appealing products which are built with different colors. Further, developing technologies, such as 3D printing and continuous research and developmental activities are some of the additional factors anticipated to drive the growth of the global fluorescent pigments market.

Barriers

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 impact negatively towards the growth of the global fluorescent pigments market.


Fluorescent Pigments Market Share Image

Key Questions Answered in the Report

1) What are the major factors driving the growth of the Fluorescent Pigment market?

Ans: Increasing demand for fluorescent pigments from the end user industries along with development in 3D printing technology are some of the major factors that are driving the growth of the market.

2) What would be the CAGR of Fluorescent Pigment market over the forecast period?

Ans: The market is anticipated to attain a CAGR of around 6% over the forecast period, i.e. 2019-2027.

4) Which region will provide more business opportunities for growth of Fluorescent Pigment market in future?

Ans: The market in Europe is anticipated to provide more business opportunities in the future.

5) Who are the major players dominating the Fluorescent Pigment market?

Ans: The major players in the global fluorescent pigments market are 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

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the major segments in the global fluorescent pigments market?

Ans: The market is majorly segmented by type, application, pigment state and by region.

8) What can be the significant growth opportunity for the type segment in the global fluorescent pigments market?

Ans: The optical whiteners segment, which is a sub-segment of the type segment, held the largest market share of around 57% in the year 2018 and is anticipated to show significant growth opportunity.

8) What are the restraining factors for the market?

Ans: Growing stringent norms across nations around the world is one of the major factors anticipated to act as a barrier towards the growth of the global fluorescent pigments market.

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