Global Phosphorescent Pigments Market was valued US$ 228.89 Mn. in 2019 and is expected to grow US$ XX Mn. by 2027, at a CAGR of XX% during the forecast period.
Global Phosphorescent Pigments Market
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Global Phosphorescent Pigments Market Definition:
Phosphorescence is a process where energy from the sun is immersed with the help of material and released slowly in the form of light over a long time. Color is often a query of individual perception and taste, and this constraint is fashion based on the possibility for continuous development. Therefore, significant gains are expected from an increase in the requirement of novel eye-catching optical effects by plastics, printing inks, automotive coatings, and cosmetics manufacturers. High investment from the end-user sector has resulted in enrichment in lifestyle with a wide variety of choices. This is expected to drive phosphorescent pigments market growth in the future.
Global Phosphorescent Pigments Market Drivers:
Phosphorescent pigments market will see exponential growth in the future, because of its increasing applications in several signage boards and consumer goods. The substance, better known as “glow in the dark” pigments is generally made of fine of zinc sulfide crystals doped with copper. This glow is a result of the unique properties presented by crystalline zinc sulfide. Copper activates the crystals to absorb light and gradually emit it with time to generate a dull phosphorescent sheen. Japan-based Nemoto & Company later initiated the production of phosphorescent pigments with alkaline earth metals, for example, strontium under the brand name of LumiNova, which has higher brightness and durability than the conventional zinc sulfide-based products. Increasing usage of the product in numerous signage boards for emergency exits and low-level lighting escape systems as a result of mandatory building and construction guidelines will drive the phosphorescent pigments market in the current future. The product has serious applications in safety sign boards, like fire exits, escapes, etc. which must be visible in murky and dark environments.
Raw materials used in product manufacturing includes copper activated zinc sulfide powder and strontium aluminate powder. Zinc sulfide is immensely used in the manufacturing of semiconductor materials. Therefore, the price of zinc sulfide is affected by the zinc demand and its ores. The prices of strontium aluminate are higher than its substitutes and hence can hinder the phosphorescent pigments industry during the forecast period.
Global Phosphorescent Pigments Market Segmentation:
According to the applications, paints and coatings are expected to hold the largest market share of the global market by 2027. Paints and coatings are then followed by the plastics industry. Phosphorescent pigments are used as fishing lures, glow in dark toys, paints, concrete, carpets, light-switches, handrails, stairwell markers, luminaire reflectors, high visibility jackets, hard hats, directional indicators, arrows, highlighting signs for the position of fire extinguishers and mainly the internationally standardized phosphorescent safety signs are currently widely in use. The main application of all kinds of well-defined phosphorescent safety products is outlet pass marking purposes as of high rise buildings, of public buildings, railway stations, underground trains, passenger ships, underground parking areas, and areas with high foot traffic.
Global Phosphorescent Pigments Market1
Region-wise, Asia Pacific is expected to hold the market share of nearly 50% in the global phosphorescent pigments market by 2027. The remarkable growth in the regional paints & coatings industry together with the increase in the construction activities will drive the phosphorescent pigments industry demand in the region in the forthcoming years. The regional market is led by China, which generated a revenue of over US$ XX million in 2018 and will witness high growth driven by the emerging plastics and electronics industries.
North America and Europe together accounted for nearly 40% share in the global phosphorescent pigments market. Mature end-user industries in Europe and the shift towards the East will result in a lethargic growth rate in the phosphorescent pigments industry in the European countries. North America, conversely, will witness growth at a CAGR of about 4.6%, because of the large number of commercial buildings in the U.S.
The objective of the report is to present a comprehensive analysis of the Global Phosphorescent Pigments Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Phosphorescent Pigments Market dynamics, structure by analyzing the market segments and project the Global Phosphorescent Pigments Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Phosphorescent Pigments Market make the report investor’s guide.
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Global Phosphorescent Pigments Market, By Product Analysis
• Zinc Sulphide
• Strontium Aluminate
Global Phosphorescent Pigments Market, By Application Analysis
• Paints and Coatings
• Plastics
• Printing Inks
• Textiles
• Others (Construction materials, toys, glassware)
Global Phosphorescent Pigments Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Phosphorescent Pigments Market
• Nemoto Lumi-Materials Co. Ltd.
• GloTech International Ltd.
• Allureglow International
• LuminoChem Ltd.
• Honeywell International Inc.
• Kremer Pigmente GmbH & Co. KG
• Badger Color Concentrates Inc.
• Thomas Publishing Company
• ARALON
• Lightleader Co.,Ltd.
• Tavco Chemicals, Inc.
• RTP Company
• RC Tritec LTD.
• GTA LLC
• Glow Inc.
• Others
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