Fluorescent Pigment Market is projected to be worth USD 543.6 Million by 2030, registering a CAGR of 4.9% during the forecast period (2021 - 2028).
Fluorescent Pigment Market that will help the market grow at a 5% CAGR by the end of the global forecast year of 2030.The fluorescent pigment is a specialty color pigment that is put to use in different applications whenever there is a desire for enhancing the appeal of products. Fluorescence is the process through which short-wavelength lights go through a visible range of the ultraviolet or electromagnetic spectrum. This is absorbed and further radiated with the help of relatively longer wavelengths. The re-radiation usually occurs in a spectrum that is in the visible range. The use of fluorescents applies to a wide range of products like bright colored papers, plastic products used by the consumers, highlighters, safety jackets, paints, along with other items like clothing. The conducted researchers conclude that these colors have a wider appeal and result in generating more demand relative to their competitive colorful counterparts
These products can be put to use in the form of an accent and used as a contrast for drab colors. Also, it serves as an ingredient to the conventional pigments that help in brightening the dark tones.
The Fluorescent pigment manufacturers in the name of the prominent market players are developing key market strategies for the market to grow by the end of the global forecast period in 2023. These market players are opting for research and development procedures to emerge as dominant players in the domestic regions and all over the globe. The report also draws a competitive landscape for the emerges to predict the global leaders for the market. The key market players are:
COVID 19 Analysis
The impact of the global coronavirus pandemic is such that the government has imposed lockdowns and suspended the functioning of all the non-essential goods and items sector. Only the essential services, along with the medical and healthcare fraternity are the ones that are functioning in full capacity to cater to the rising number of coronavirus cases. There are many challenges that the healthcare department is facing and the dire need is for the inputs in the healthcare field and development of infrastructure on priority. The development for the other economic sectors is on hold and not ignored. The production units are suffering due to the unavailability of raw material for production. This is further harming the supply chain mechanism as well leading the way for losses to such sectors of the economy.
Hence, the government is chipping in efforts to provide aid to these sectors in the form of investment in the research and development sector. It will help in the product portfolio, development, and product launches that are likely to help the competitive players emerge as global leaders. Also, the focus is on the key market strategies that will help the market reach the predicted fluorescent pigment market valuation by the end of the forecast year of 2023.
There is a growth in the demand for fluorescent pigments that are playing a major role in expanding the scope of growth for the fluorescent pigment market end-users. The Global Printing Ink market for packaging the products will help the fluorescent pigment market grow. The main reason behind this is a rising demand for labeling and packaging products that help in providing nutritive information about products. The color and appearance of these is an important factor that will help to attract customers on a large scale.
There are a lot of challenges related to the processing and handling of these fluorescent colors along with the emergence of new technologies that are available in the fluorescent pigment market at pocket-friendly rates. Also, there is a possible threat in the form of wide-scale use of heavy metals in manufacturing these pigments. All these factors are playing a major role in restraining the market growth by the end of the global forecast period in 2023.
Global Fluorescent Pigment Market Share by Application, 2016 (%):
The growing global demand for fluorescent pigment is all set to increase in the coming years. Also, the increase in the per capita income of people in refining the living standard of people. This is largely more in the population of the developing countries where the consumer sentiment is experiencing a shift towards the use of products that are attractive and have good packaging and appeal. The development of initiatives to cater to the demand of the market end-users is on the way. This generation of demand is likely to help the market grow as per the expected CAGR percentage by the end of the future forecast year of 2023.
The Fluorescent pigment suppliers are related to the supply for different market segments. These segments are functional in different geographies of the world. Also, for the estimated market valuation, it is important to note the functioning and revenue models of these segments. The fluorescent pigment market is segmented based on the following:
Based on type
The market based on the type includes optical whiteners, daylight fluorescents, along with inorganic fluorescents.
Based on application
The global market has been categorized based on paints, ink printing inks, coatings, textiles, and plastics, along with colored papers and much more.
By the regions
The global fluorescent pigment market is functional in five major locations of the world like the Middle East and Africa, Asian Pacific regions, European nations, North American market, along with Latin America.
Based on the regions, the fluorescent pigment market functions in five major locations as stated. The APAC region is the fastest-growing region. The main reason behind this is the presence of emergent and dynamic economies like South Korea, India, China, and Japan. The maximum growth is expected to be witnessed by China and South Korea. The reason behind this is the growth of applications like paints, packaging materials, coatings, and printing ink.
The second-largest growth is expected to be witnessed by the North American fluorescent pigment market. The US market is expected to emerge as the highest grosser as there is a huge demand for packaging along with the display of safety instructions on products. Growth opportunities are available for the European market as well. The major contributors are France, Switzerland, Germany, the UK, and other parts of Europe and for large growth, the fluorescent pigment market needs to make a lot of efforts in the name of product developments and portfolios.
The global fluorescent pigment market considers the opinions and suggestions of the industry experts and leaders to predict the market growth and opportunities for the market, along with the restraints in the path of growth by the end of the global forecast period in 2023. The market report discusses the technical analysis and the performance of the market segments in five major geographies of the world. The market also discusses the growth prospects in these regions that will help them emerge as a hub for foreign investment and global leaders in the future. The report also discusses the recent developments of the market and draws a competitive market landscape for the key fluorescent pigment market players.
|Market Size||2030: Significant Value|
|Forecast Period||2020 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Radiant Color N.V. (Belgium), Huangshan Jiajia fluorescent material Co., Ltd. (China), MingHui Wuxi (China), UKSEUNG CHEMICAL CO., LTD. (South Korea), DAI NIPPON TORYO CO.,LTD. (Japan), LuminoChem Ltd. (Hungary), Wanlong Chemical Co., Ltd. (China), Vicom Corp. (Taiwan), Aron Universal Limited (India), J COLOR CHEMICALS (China)|
|Key Market Opportunities||A rising demand for labeling and packaging products that help in providing nutritive information about products.|
|Key Market Drivers||The Global Printing Ink market for packaging the products will help the fluorescent pigment market grow.|
Fluorescent Pigment Market is predicted to grow at 5% through forecast period of 2020-2030.
The forecast period for Fluorescent Pigment Market research report is 2020-2030.
The prominent players operating in the Fluorescent Pigment Market include Radiant Color N.V. (Belgium), Huangshan Jiajia fluorescent material Co., Ltd. (China), MingHui Wuxi (China), UKSEUNG CHEMICAL CO., LTD. (South Korea), DAI NIPPON TORYO CO.,LTD. (Japan), LuminoChem Ltd. (Hungary), Wanlong Chemical Co., Ltd. (China), Vicom Corp. (Taiwan), Aron Universal Limited (India), J COLOR CHEMICALS (China)