Torrance, California, USA -As per MarkWide Research’s latest study, Fluorescent Pigments Market is expected to register a CAGR of 5.17% over the forecast period (2022 – 2030).
INTRODUCTION
Fluorescent pigments are classified as pigments that are capable of absorbing both visible and non-visible electromagnetic waves and radiations as well as effectively discharging them rapidly as desired wavelengths of energy in the form of light. Furthermore, when light of an expected wavelength is discharged on these pigments, they also shine in a highly specific color.
The consumption of fluorescent pigments in the commercial scale is observed in a variety of applications ranging from formulating paints and coating solutions, to inks, to textiles and many more to mention just a few. In the commercial market, there are two types of fluorescent pigments available, such as organic and inorganic pigments, which are synthesized from different sources and are used for different purposes.
SYNTHESIS
Inorganic fluorescent pigments are synthesized by mixing different metal oxides with natural and synthetic raw materials, whereas organic fluorescent pigments are synthesized by mixing different natural and synthetic raw materials. In the commercial market, both types are available in powder form as well as dispersion form, tailored to the end-user industry’s specific needs in a powder or dispersion form.
BENEFITS
There are a number of fluorescent pigments available on the market which are capable of surviving in the demanding applications due to their notable characteristics such as being able to withstand bad weather conditions, high temperatures, resistance to heat and different chemicals, and other notable characteristics. As a result, fluorescent pigments have been adopted in a wide variety of applications due to their attributes. As well as these pigments in the automotive industry, these fluorescent pigments also find their way into the engineering plastics industry as a colorant.
USES
- Fluorescent pigments are used for a variety of applications, including security, coding, identification, and anti-counterfeiting, for currency notes, lottery tickets, credit cards, emergency signs, security passes, and other applications.
- Due to the glowing effect that fluorescent pigments have all over the world, fluorescent pigments are not only used in currency and security applications but are also used in restaurants, hotels, discotheques, nightclubs, and a variety of other places. There is a tendency for these to be modified in a way, which can alter the character to a point where it can be detected and measured.
- Because of the increased use of security printing and counterfeit prevention, luminescent inks are being used more and more due to the increase in UV and IR emissions.
- Other uses of this technology include brand protection and security of the product by creating invisible security marks and features and identifying and preventing the product from being stolen.
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Market Dynamics for Fluorescent Pigments
In the recent past, the fluorescent pigment industry has witnessed a noticeable growth in the world market, and it is expected that the same growth path will be followed in the coming 8–10 years.
During the forecast period from 2022 to 2030, the global fluorescent pigment market was expected to garner a revenue of USD 374.8 Million in 2022 and a revenue of USD 543.6 Million in 2030 by increasing at a CAGR of 4.9% over the period.
A number of factors are driving the development of the fluorescent pigment market, including the increasing market for paints and coatings and its applications to a variety of end-use industries, the rapid growth of the construction and textile industries, as well as the plastics and building materials industries.
There is also a growing number of manufacturers of fluorescent pigments around the world who are concentrating on the use of significant amounts of colorants, functional pigments, and extenders in order to formulate the pigment that will be able to meet the needs of the many industries.
Emerging countries like India and China, which are expected to be major consumers of fluorescent pigments in the future, are expected to have high demand for them.
In addition to its use in the automotive sector due to its durability, fluorescent pigments are also used in the medical sector.
As the automotive industry in developing countries along with the coatings and plastics industry are prospering at a tremendous rate, especially in emerging economies such as India and China, it is expected that the consumption of fluorescent pigments will be increased in these countries in the future.
As a result, fluorescent pigments can have adverse & negative environmental effects, and this may result in a real barrier for the market to adopt them on a global scale.
A detailed analysis of exhaust is provided in the report:
- The dynamics of the market
- The size of the market
- The supply and demand of goods and services
- Trends/Issues/Challenges of the present day
- The competition and the companies involved in the process
- A technology-based approach
- An overview of the value chain
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Fluorescent Pigments Market Major Players Covered:
- 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)
Fluorescent Pigments Market Segmentation Analysis:
- Others
Fluorescent Pigments Market Geographical Segmentation Includes:
- North America
- Europe
- Asia Pacific
- South America
- The Middle East & Africa
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