Phosphorescent Pigments Market Size by Product, Region – Revenue Pool Analysis, Margin Structure Assessment, Capital Flow Trends & Competitive Benchmarking
Overview
Phosphorescent Pigments Market was valued US$ 241.02 Mn. in 2021 and is expected to grow US$ 364.31 Mn. by 2029, at a CAGR of 5.3% during the forecast period.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
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.
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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.
Phosphorescent Pigments Market Segment Analysis:
According to the applications, paints and coatings are expected to hold the largest market share of the global market by 2029. 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.
Phosphorescent Pigments Market Regional Analysis
Region-wise, Asia Pacific is expected to hold the market share of nearly 50% in the global phosphorescent pigments market by 2029. 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 2021 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.
Phosphorescent Pigments Market Scope: Inquire before buying
| Phosphorescent Pigments Market | ||||
|---|---|---|---|---|
| Base Year | 2021 | Forecast Period | 2022-2029 | |
| Historical Data | CAGR | Market Size in 2021 | Market Size in 2029 | |
| 2017 to 2021 | 5.3% | US$ 241.02 Mn | US$ 364.31 Mn | |
| Segments Covered | ||||
| by Product • Zinc Sulphide • Strontium Aluminate |
by Application • Paints and Coatings • Plastics • Printing Inks • Textiles • Others |
|||
| Regions Covered | ||||
| North America • United States • Canada • Mexico |
Europe • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe |
Asia Pacific • China • S Korea • Japan • India • Australia • Indonesia • Malaysia • Vietnam • Taiwan • Bangladesh • Pakistan • Rest of APAC |
Middle East and Africa • South Africa • GCC • Egypt • Nigeria • Rest of ME&A |
South America • Brazil • Argentina • Rest of South America |
Phosphorescent Pigments Market Key Players
• 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.
• GloNation Inc.
• Radiant Color
• United Mineral and Chemical
• Next Generation B.V.
• Kremer Pigmente
Frequently Asked Questions:
1. Which region has the largest share in Global Phosphorescent Pigments Market?
Ans: Asia Pacific region held the highest share in 2021.
2. What is the growth rate of Global Phosphorescent Pigments Market?
Ans: The Global Phosphorescent Pigments Market is growing at a CAGR of 5.3% during forecasting period 2022-2029.
3. What is scope of the Global Phosphorescent Pigments Market report?
Ans: Global Phosphorescent Pigments Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Phosphorescent Pigments Market?
Ans: The important key players in the Global Phosphorescent Pigments Market are – 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., GloNation Inc., Radiant Color, United Mineral and Chemical, Next Generation B.V., and Kremer Pigmente
5. What is the study period of this Market?
Ans: The Global Phosphorescent Pigments Market is studied from 2021 to 2029.