Daylight Fluorescent Pigments Market Size, Share, and Growth Analysis, By Type (Thermoset Types, Thermoplastic Types, and Others (Such as Aqueous Dispersion, and Others)), By Application (Paints & Coatings Industry, Printing Inks Industry, Plastic Industry, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Daylight Fluorescent Pigments Market REPORT OVERVIEW

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global daylight fluorescent pigments market size was USD 338.9 million in 2022 and market is projected to touch 650.71 Million by 2031, exhibiting a CAGR of 7.5% during the forecast period.

A radiant substance naturally gives fluorescent color, known as daylight fluorescent pigments. It doesn’t need any artificial reflected colored light. It transforms the intangible UV daylight component into visible light, making traditional colors look much weaker and less bright. This pigment increases the light density to the fixed wavelengths. 

The colored organic polymers that make up the daylight fluorescent pigments are designed to act as solvents for the fluorescence dyestuff. The dyes do not glow when they are not dissolved. Fluorescent pigments are created when dyes are dissolved in thermoset and thermoplastic carrier resin and then powdered. Nevertheless, there aren't many fluorescent dyes on the market that can be turned into pigments. When exposed to UV light, the fluorescent color shines brighter and is more noticeable than other colors.

COVID-19 Impact: Shutdown of Delivery and Manufacturing Industries Hampered Growth

The pandemic led to disruptions in the global supply chain, affecting the manufacturing and delivery of the product. Many manufacturers have faced delays in receiving components and raw materials and challenges in transporting finished products to their customers. This has resulted in longer lead times and higher costs for the product. Moreover, the pandemic has also caused economic uncertainty and financial constraints, which has led some end-users to delay or cancel their investment in the daylight fluorescent pigments market. 

LATEST TRENDS

"Rising Consumption of Cosmetics to Bolster Market Growth "

The demand for fluorescent pigments is rising due to their application in the cosmetics industry. These pigments are used for imparting bright colors and increasing product visibility. The consumption of cosmetics is constantly increasing. The major demand for the product is registered from the cosmetics industry. Thus, this industry is estimated to play a significant role in the development of the daylight fluorescent pigments market. It is used as a colorant in lipstick and other cosmetics. These factors are estimated to boost market growth in the foreseeable future.

Daylight Fluorescent Pigments Market Segmentation

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• By Type Analysis

By type, the market is segmented into thermoset types, thermoplastic types, and others (such as aqueous dispersion and others).

• By Application Analysis

Based on application, the market is classified into the paints & coatings industry, the printing inks industry, the plastic industry, and others.

DRIVING FACTORS

"Expanding Population to Cater to Product Demand"

Daylight fluorescent pigments are widely used in industries such as in toys, nail paints, traffic cones, and others. Things seen in your day-to-day life are made of such pigments. The rise in population is leading to a higher demand for toys, ultimately boosting the demand for the product. A growing population is expected to surge the demand for nail paints and other such products. Additionally, consumer preference and taste rapidly shift towards fluorescent colors, which is anticipated to prosper a major part in the daylight fluorescent pigments market growth.

"Product Application in The Paints and Coating Industry to Offer Growth Opportunities"

Due to their prominent light-emitting properties, daylight fluorescent pigments are used in various applications in the coating and paint industry. The demand for these pigments is on the rise from the paints and coatings industry, which would further boost daylight fluorescent pigment market growth. Moreover, the companies are spending on developing other fluorescent pigments, which is likely to gain traction in the market. 

RESTRAINING FACTORS

"High Cost of Raw Materials to Obstruct Market Growth"

The raw materials of daylight fluorescent pigments are expensive, which is estimated to retard major growth in the market. Moreover, these raw materials are unavailable easily, which challenges the key manufacturers and, thus, results in resistance to market growth. Furthermore, these pigments comprise harmful heavy metals such as cadmium, lead, and arsenic. These metals are harmful to the environment, and thus, the government implemented various regulations which hindered market expansion rate.

Daylight Fluorescent Pigments Market REGIONAL INSIGHTS

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"North America Dominates the Market Due to the Expansion of Paints and the Construction Industry"

North America is likely to hold a dominating part of the daylight fluorescent pigments market share attributable to the expansion of the paints and coating industry. The paints and construction industry is consistently rising due to government projects and the construction of new buildings. 

Asia Pacific is expected to show prominent growth due to the expansion of the transportation and infrastructure industry in the region. Asia Pacific is one of the largest markets as it has few key players in the region.

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis On the Development of Advanced Technology"

Key market players are focused on strengthening their presence by adopting advanced technologies. The competitors are adopting strategies to gain mergers and acquisitions in the global market. Major players of the market emphasis on collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market. 

List of Market Players Profiled

• Day-Glo Color Corp (RPM International) (U.S.)
• Dane Color (U.S.)
• Radiant Color N.V (Belgium)
• UKSEUNG (South Korea) 
• SINLOIHI (Japan)
• Huangshan Jiajia Science and Technology (Japan)
• China wanlong chemical (China)
• J Color Technologies (India)
• Vicome Corp (U.S.)
• Ming Hui Group (Spectra Colours Ltd) (China)
• Aron Universal Ltd (India)
• Nanochemitek (Yangzhou) Corp (China)
• LuminoChem (Hungary)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.