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Global Fluorescent Pigment Market Synopsis, Growth Factors, Industry Segmentation, Regional Analysis And Competitive Analysis Forecast To 2023
The global fluorescent pigment market is broadly segmented based on product type, application, and region. Based on the type, the market is categorized into inorganic fluors, optical whiteners, and daylight fluorescents.
Fluorescence is a process of re-emission of light of desired wavelength. In this process, the light of short wavelength in electromagnetic spectrum is absorbed and re-radiated at higher wavelengths. Mostly, this re-radiation occurs within visible range of spectrum.
The fluorescent pigments are the illuminating color pigments which offer an attractive appearance. Luminescent materials do not require any artificially generated energy to reflect colored light and to give off fluorescent light.
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Growing demand of the Fluorescent Pigment from expanding scope of end users is the primary factor driving growth of the market. The Global Printing Ink market for packaging is estimated to grow at CAGR of 6% due to rising global demand for label packaging providing nutritive and product information.
The color and appearance of the ink is a critical factor when it comes to attracting the customers. This is anticipated to boost the demand of Fluorescent Pigment during the years to follow.
However, the processing challenges while handling the fluorescent colors, cost intensive new technologies, and possible use of heavy metals in manufacturing Fluorescent Pigments are the factors observed to restrain growth of the market during the forecast period.
The global fluorescent pigment market is broadly segmented based on product type, application, and region. Based on the type, the market is categorized into inorganic fluors, optical whiteners, and daylight fluorescents, wherein, the optical whiteners segment is dominating the market on account of its higher degree penetration into the major applications such as textile, paper, and plastics.
On the basis of application, the global fluorescent pigment market is classified into printing ink, paints & coatings, colored papers, textile, plastics, and others. Among these applications, printing ink segment is growing at the highest rate on account of growing demand of attractive and consumer appealing packaging.
There are five major regions in the global fluorescent pigment market namely Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Asia Pacific poised to dominate the market with over 35% share of the market, as of 2016. The region is expected to grow at the highest rate due to increasing production and demand of the fluorescent pigment.
The primary factors driving growth of the market in this region are the rising consumer awareness and favoring regulatory trends. South Korea, Japan, and China are the leading markets in this region. North America is holding the second major share of the market.
The Middle East & Africa is a growing at considerable growth rate, wherein the growth is majorly driven by the demand from paints & coating, along with the flourishing tourism industry. Latin America is anticipated to witness a rise in the regional market due to the pacifying political and reviving economic situation.
Key players in the global polyurethane catalyst market are Radiant Color N.V. (Belgium), UKSEUNG CHEMICAL CO.,LTD. (South Korea), LuminoChem Ltd. (Hungary), DAI NIPPON TORYO CO.,LTD. (Japan), Huangshan Jiajia fluorescent material Co., Ltd. (China), Wanlong Chemical Co., Ltd. (China), Aron Universal Limited (India), J COLOR CHEMICALS (China), Vicom Corp. (Taiwan), and MingHui Wuxi (China), among others.
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