Fluorescent Pigments Market is anticipated to register a CAGR of around 5.5% over the forecast period and cross a value of around USD 1050 million by the end of 2027.
Research Nester has released a report titled “Fluorescent Pigments Market – Global Demand Analysis & Opportunity Outlook 2027” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
Paints and pigments are known to display several characteristics such as durability, resistant to heat and others, which is why they have been used massively throughout the years in the end user industries including textile, construction and automobile over the years. Technological advancements coupled with focused approach on the research and developments by the key players have led to the development of advanced fluorescent pigments from colorants, extenders and functional pigments and further develop customized pigments that can be used widely across several end user applications. Growing demand for colorful packaging for appealing products from the end user industries, coupled with the rising demand for fluorescent pigments from the end user industries owing to its numerous benefits and applications and the development in 3D printing technology are some of the factors anticipated to drive the growth of the global fluorescent pigments market.
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The global fluorescent pigments market is anticipated to achieve a CAGR of around 6% over the forecast period, i.e. 2019-2027. The market is thriving on account of factors such as increasing application of fluorescent pigments in the medical industry, especially in the agriculture, medical, biological or biochemistry labs for performing several microbiological activities, coupled with the numerous advanced characteristics observed in the pigments including resistance to light, heat, organic solvents, humidity and others owing to the continuous research and development activities for the innovation and production of high-performance pigments are some of the factors anticipated to contribute significantly towards the growth of the global fluorescent pigments market. The market, which was valued at around USD 1100 million in the year 2018 is further anticipated to achieve an incremental $ opportunity of around USD 110 million in the year 2027 as compared to the previous years and further cross a value of around USD 1800 million by the end of 2027.
The global fluorescent pigments market is segmented by type into daylight fluorescents, optical whiteners and inorganic fluorescents. Among these segments, the optical whiteners segment, which held a market share of around 57% share in the year 2018 is anticipated to register a CAGR of around 5.5% over the forecast period and cross a value of around USD 1050 million by the end of 2027. On the other hand, the daylight fluorescents segment is estimated to grow with the highest CAGR of around 7% over the forecast period.
Geographically, the global fluorescent pigments market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America, which held the largest market share of around 33% in the year 2018, is anticipated to grow with a CAGR of around 6% over the forecast period. The market in the region is expected to expand by observing the growth rate of around 1.6x throughout the assessment period and is primarily 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 North America fluorescent pigments market is anticipated to cross a value of around USD 600 million by the end of 2027.
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However, concerns for the harmful chemical effect of the fluorescent pigments especially for food coloring which has led to the deployment of stringent regulatory norms across several nations for the marketing of these pigments are some of the factors estimated to act as a barrier to the growth of the global fluorescent pigments market.
This report also studies existing competitive scenario of some of the key players of the global fluorescent pigments market, which includes 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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Fluorescent Pigments Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall fluorescent pigments industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global fluorescent pigments market in the near future.
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