Fluorescent Pigment Market Estimated to Reach $498 million by 2028 Globally, at a CAGR of 5.7%, says MarketsandMarkets™
MarketsandMarkets Research Pvt. Ltd.
5 min read
MarketsandMarkets Research Pvt. Ltd.
Chicago, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The GlobalFluorescent Pigment Market size is projected to reach USD 498 million by 2028, at a CAGR of 5.7 % from USD 377 million in 2023, as per the recent study by MarketsandMarkets™. The growth in emerging markets and increased use in security and anti-counterfeiting measures will contribute to the rapid growth in the demand for fluorescent pigment.
Organic fluorescent pigment is projected to be the largest formulation of fluorescent pigment, in terms of value, during the forecast period.
Printing inks/Graphics arts is the fastest growing application of the fluorescent pigment, in terms of value.
Asia Pacific captures the largest share in the fluorescent pigment market during the forecast period, in terms of value.
Based on Intensity type, the fluorescent pigment market has been segmented into high intensity, medium intensity, and Low Intensity. High-intensity fluorescent pigments, characterized by their vibrant and eye-catching hues, find extensive use in sectors such as signage, advertising, and safety markings. These pigments are favored for standing out prominently even in challenging lighting conditions. Medium-intensity fluorescent pigments cater to applications where a balance between visibility and subtlety is desired, often employed in textiles, packaging, and graphic arts. On the other hand, low-intensity fluorescent pigments, with their softer glow, are well-suited for applications requiring a more muted and sophisticated appearance, such as cosmetics and specialty printing. As industries continue to prioritize aesthetics, safety, and functionality, the fluorescent pigment market, with its intensity-based segmentation, offers a versatile array of solutions to meet varied business needs.
Based on end-use industry, the fluorescent pigment market has been segmented into security & currency, packaging, automotive & transportation, building & construction, textile, and cosmetics. In the realm of security and currency, fluorescent pigments play a pivotal role in fortifying anti-counterfeiting measures, adding a layer of authenticity to banknotes and critical documents. Within the packaging sector, these pigments are prized for their capacity to captivate attention, elevating the visual appeal of labels, tags, and packaging materials. The automotive and transportation industry capitalizes on fluorescent pigments for coatings that enhance visibility, ensuring both safety and aesthetic appeal. In the context of building and construction, fluorescent pigments find utility in safety markings, architectural coatings, and decorative features. Textiles undergo a vibrant transformation with the infusion of fluorescent pigments, meeting the demand for fashionable and trendsetting products. The cosmetics industry embraces these pigments to craft vivid and striking color formulations. Thus, the fluorescent pigment market emerges as an indispensable player, adept at addressing the diverse aesthetic and functional needs of a multitude of industries on a global scale.
Asia Pacific is the fastest-growing market for fluorescent pigment. This growth is mainly attributed to the rapidly increasing industrialization & urbanization, which drives the demand in booming economies in China, and India. As a result, the demand for fluorescent pigment experiences a corresponding upswing, as it serves a critical role in the production process of various end-use applications. The region's large population coupled with a growing middle class and increasing disposable income boosts the demand. Low labor costs and easy raw material availability attract manufacturers to cater to the local emerging markets better.
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