Fluorescent Pigment Market Size was valued at USD 0.3 Billion in 2022. The Fluorescent Pigment market industry is projected to grow from USD 0.31 Billion in 2023 to USD 0.46 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.90% during the forecast period (2023 - 2032). Increased application of fluorescent pigments in different end-user industries is the key market driver enhancing growth of the market.
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for fluorescent pigment is being driven by the rising application of fluorescent pigments. Fluorescent pigments have an increasing demand in product packaging due to the rising demand for labeling and packaging products which helps in availing the nutritive information about products. The color and appearance of these are prime factors that will assist in attracting users on a large scale. The industries of paints and coatings, plastics, textiles, and printing inks have a growing demand for fluorescent pigments.
Fluorescent pigments are pigments that are able to absorb both types of visible and non-visible electromagnetic waves and radiations and then emit them rapidly as the energy of the desired wavelength. The pigment shines in a very specific color when the expected wavelength of light is discharged on it. Commercially, organic and inorganic, synthesized from different sources, are the two types of fluorescent pigments that are utilized in the market. Natural and synthetic raw materials are used to synthesize organic fluorescent pigment type, and for the inorganic fluorescent pigments, a mixture of different metal oxides is used. As per the requirement of the end-user industry, both types are commercially available in dispersion and powder form. Most of these pigments can withstand damaging applications via their notable attributes, such as the ability to withstand adverse climate conditions, resistance against heat and various other chemicals, and high temperature.
The currency utilizes different covert and overt features like water makers, low vision numerals, serial numbers, marks of manufacturing houses, micro-printing, and security threads that will glow under the ultraviolet light. Currency printing utilizes short and long wavelengths of fluorescent pigments. The fluorescent pigment manufacturers globally are emphasizing utilizing a significant amount of functional pigments, colorants, and extenders to formulate the pigment, which can be adopted by a comprehensive range of industries. These pigments are also applicable in the automotive industry due to their durability. The automotive industry, as well as the plastic industry in developing countries, are fueling the market growth. Thus, driving the Fluorescent Pigment market revenue.
However, there are challenges associated with the processing and handling of fluorescent pigments with the entrance of new technologies available in the fluorescent pigment market at cost-effective rates. There can also be threats with the large-scale utilization of heavy metals while manufacturing these pigments. Thus, all these factors can be reasons for restraining the growth of the market globally.
The Fluorescent Pigment market segmentation, based on type, includes Organic Fluorescent Pigment and Inorganic Fluorescent Pigment. The organic fluorescent pigment segment dominates the market, accounting for the largest market revenue. These fluorescent pigments are utilized in nail paints, toys, traffic cones, and many other things seen in day-to-day life. The preference and tastes of the customers are leaning towards fluorescent colors, thus driving the market for this segment. These pigments are non-toxic in nature and are utilized in protective clothing, advertising, inks, documentation, biomedical applications, and others. Organic fluorescent pigment is being adopted by most organizations for environment-friendly and sustainable products.
Figure 1: Fluorescent Pigment Market, by Type, 2022 & 2032 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Fluorescent Pigment market segmentation, based on application, includes Inks, Paints & Coatings, Textiles, Plastics, Construction, and Others. The paints and coatings segments dominate the market in order to create visually appealing finishes and unique effects. This pigment improves the color intensity and brightness of coatings, which makes them much more popular for decorative and specialty applications.
By region, the study offers market insights into the North America, Europe, Asia-Pacific, and the Rest of the World. The North American Fluorescent Pigment market area dominates the market due to the increase in the paint and coating industry. The paints and the construction industry is constantly increasing due to the investment of the government in the projects and construction of new buildings in this region. The US has the highest demand for packaging with the display of the safety instructions on products. Thus, it is the largest contributor in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, China, Spain, Japan, India, Australia, South Korea, and Brazil.
Figure 2: FLUORESCENT PIGMENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: The Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Asia-Pacific Fluorescent Pigment Market accounts for the second-largest market share due to the increasing application of fluorescent pigments in paint, packaging materials, printing ink, and coatings. Moreover, China’s Fluorescent Pigment market held the largest market share, and the Indian Fluorescent Pigment market was the rapid-growing market in the Asia-Pacific region.
Europe's Fluorescent Pigment market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to expanding applications of the pigments in various industry sections. Further, the German Fluorescent Pigment market held the largest market share, and the UK Fluorescent Pigment market was the rapid-growing market in the European region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Fluorescent Pigment market grow even more. Market participants are also undertaking a various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Fluorescent Pigment industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Fluorescent Pigment industry to benefit clients and increase the market sector. In recent years, the Fluorescent Pigment industry has offered some of the most significant advantages to various industries. Major players in the Fluorescent Pigment market, including Organic Dyes, Wanlong Chemical, Organic Dyes and Pigments, Brilliant Fluorescent, Lumino Chem, Solar Color Dust, Kolorjet Chem, DayGlo Color Corporation, Radiant Color, and others, are attempting to increase market demand by investing in research and development operations.
Robert Atkins formed Atkins Nutritionals, Inc. to promote the Atkins diet's low-carbohydrate packaged meals. It is now a subsidiary of The Simply Good Foods Company. Low-carbohydrate bars shakes, and snacks are available from the company. Atkins Nutritionals, Inc. was formed in 1989 as Complementary Formulations. In 1998, the company was renamed Atkins Nutritionals. It was created to enhance the Atkins diet. Atkins created the plan after reading a research paper in a journal of the American Medical Association. Alfred W. Pennington published the paper "Weight Reduction" in 1958. Atkins used the study's findings to help him overcome his own obesity. In May 2019, A partnership agreement between Atkins and CHEF'D was signed. Our collaboration sought to create a low-carb meal solution for consumers concerned about their health and lifestyle.
Brunswick Corporation, formerly called the Brunswick-Balke-Collender Company, is an American firm founded in 1845 that has been inventing, manufacturing, and distributing a wide range of products. Brunswick now employs over 13,000 people in 24 countries. Among the various boating brands owned by Brunswick are Sea Ray, Boston Whaler, Bayliner, Mercury Marine, Crestliner, Attwood, Lund, Mastervolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver, CZone. In June 2019, A partnership agreement was inked between BRUNSWICK Company and VIR Zoom to launch a product called VIR Zoom solution. This collaboration, if correctly executed, was expected to transform Life Fitness' se3 explore bikes into a virtual reality experience.
March 2022: KaraMD announced Pure Health Apple Cider Vinegar Gummies, a vegan gummy aimed to aid ketosis, digestion regulation, weight management, and encourage greater levels of energy.
January 2022: Solace Nutrition, a US-based medical nutrition company, bought R-Kane Nutritionals' assets for an unknown sum. This asset acquisition enables Solace Nutrition to develop synergy between both brands, accelerate growth, and establish a position in an adjacent nutrition sector. R-Kane Nutritionals is a firm established in the United States that specializes in high-protein meal replacement products for weight loss.
February 2021: Hydroxycut's newest creation, CUT Energy, a delectable clean energy drink, was released. This powerful mix was carefully formulated for regular energy drink consumers, exercise enthusiasts, and dieters looking to lose weight.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.3 Billion |
| Market Size 2023 | USD 0.31 Billion |
| Market Size 2032 | USD 0.46 Billion |
| Compound Annual Growth Rate (CAGR) | 4.90% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, The Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Organic Dyes, Wanlong Chemical, Organic Dyes and Pigments, Brilliant Fluorescent, Lumino Chem, Solar Color Dust, Kolorjet Chem, DayGlo Color Corporation, Radiant Color ย |
| Key Market Opportunities are | increasing demand for labeling and packaging products. |
| Key Market Dynamics | Increased application and demand for fluorescent pigments in various industries. |
Frequently Asked Questions (FAQ) :
The Fluorescent Pigment Market size was valued at USD 0.3 Billion in 2022.
The Fluorescent Pigment Market is foreseen to grow at a CAGR of 4.90% during the forecast period, 2023-2032.
North America had the largest share of the Fluorescent Pigment Market.
The key players in the Fluorescent Pigment Market are Organic Dyes, Wanlong Chemical, Organic Dyes and Pigments, Brilliant Fluorescent, Lumino Chem, Solar Color Dust, Kolorjet Chem, DayGlo Color Corporation, and Radiant Color.
The organic fluorescent pigment category dominated the Fluorescent Pigment Market in 2022.
The paints & coatings had the largest share in the Fluorescent Pigment Market.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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