The report of Phosphorescent Pigments Market by Product Analysis (Zinc Sulphide, Strontium Aluminate), Application Analysis (Paints and Coatings, Plastics, Printing Inks, Textiles, Others (Construction materials, toys, glassware)), and Region (North America, Asia Pacific, Europe, South America, and Middle East & Africa) is expected to reach US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.
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.
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.
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.
Key players operating in the 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., and Others.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global Phosphorescent Pigments Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Phosphorescent Pigments Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Phosphorescent Pigments Market positioning of competitors.
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