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Introduction to Fluorescent Pigments
Fluorescent pigments is the type of pigment that demonstrate specific color when light of a particular wavelength is discharged on it. These pigments are able to absorb visible and non-visible electromagnetic radiations. Cadmium sulfide and zinc sulfide are the types of fluorescent pigments. They offer wide range of pigments and chroma which shine when they are exposed to UV frequencies. They have numerous properties that make them suitable for reporting and labeling of various processes and structures.
Some of the pigments are able to withstand or adjust to bad weather conditions, resistance against heat and chemicals and high temperature. These attributes of fluorescent pigments make them preferable for different applications. Moreover, they are adopted in automotive industry for engineering plastics.
Market Size and Forecast
Color and appearance of the ink is the property which attracts the customers the most. Presently, creative methods have been adopted by designers for the use of fluorescent pigments in order to enhance the sales of a product. Additionally, increase in per capita income and living standards of people in developing countries, has shifted the consumer preference towards the use of attractive and pleasing packaged products. Furthermore, continuous investments in R&D for developing innovative products, improvements in the field of 3D printing, and arrival of new technologies such as offset, inkjet is expected to boost the growth of the fluorescent pigments market in upcoming years.
The fluorescent pigments market is anticipated to record a CAGR of around 8.7% over the forecast period i.e. 2019-2027. The market is segmented by type & application. On the basis of type, the market is further segmented into daylight fluorescents, inorganic fluorescents, optical whiteners & others, out of which, the optical whiteners segment is anticipated to have leading shares on account of its high penetration in various applications in textile, plastics and paper industries. Optical whiteners, also known as brighteners, are type of organic pigments that have some specific fluorescent properties. The measurement and production of brighteners is a huge industry across the globe.
The market is further segmented by application into colored paper, plastics, textiles, paint & coating, printing ink and others ,out of which, the printing ink segment is anticipated to have significant growth owing to rise in the demand for attractive and pleasing packaging by the consumers. Cascading trend of print media, super market shopping and shifting consumer patterns are some of the major factors which are estimated to boost the growth of the market in the near future. CLICK TO DOWNLOAD FREE SAMPLE
Growth Drivers
The manufacturers in the fluorescent pigments market are concentrating on using substantial amount of colorants and functional pigments in order to formulate pigments that can be utilized by various industries. These pigments have applications in construction, textile and plastic among various end use industries. Moreover, these pigments are used in automotive industry, owing to their durable properties. They have high demand in developing countries such as India and China. These factors are expected to significantly drive the growth of the fluorescent pigments market during the forecast period.
Restraints
The negative impact of fluorescent pigments on environment and processing difficulties while handling fluorescent colors, high cost of new technologies and use of heavy metals in manufacturing of these pigments are some of the restraining factors that are estimated to hamper the growth of the market during the forecast period.
Market Segmentation
Our-in depth analysis of the fluorescent pigments market includes the following segments:
By Type
By Application
By Region
On the basis of regional analysis, the fluorescent pigments market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific is anticipated to hold fastest growing market among all the regions owing to the increasing demand for fluorescent pigments for various applications such as packaging materials, paint & coatings and printing ink. The market in North America is expected to be the second largest market with U.S. being the leading market in the region on account of huge demand for these pigments for packaging and display of safety instructions and entertainment, whereas, the market in Europe is anticipated to have moderate growth which can be attributed to stagnant development of end users and economic slowdown in the region. In the near future, the market in Middle East & Africa region is anticipated to grow considerably on the back of growth opportunities in tourism industry. Latin America market is estimated to grow moderately owing to stimulating economy and growth potential of various countries in this region.
The fluorescent pigments market is further classified on the basis of region as follows:
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