Fluorescent Pigment Market Size, Share, Growth, and Industry Analysis, By Type (Thermoset Type, Thermoplastic Type, Other (Aqueous Dispersions, etc.)), By Application (Paints and Coatings Industry, Printing Inks Industry, Plastics Industry, Others), Regional Forecast To 2031

Updated On: 20 November 2023

Fluorescent Pigment Market Report Overview

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The global fluorescent pigment market size was USD 293.2 million in 2020 and is projected to touch USD 559.7 million by 2031, exhibiting a CAGR of 9.7% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with fluorescent pigment market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Fluorescent pigments are substances that can absorb light at one wavelength and re-emit it at a longer wavelength, resulting in a visible fluorescence. They are commonly used to create high-visibility and attention-grabbing effects in products, such as safety signs, promotional materials, artistic applications, and special effects.

The fluorescence of these pigments is due to a process called "fluorescence emission." When exposed to light of a specific wavelength, the pigment molecules absorb the energy from the light photons and become excited to a higher energy state. As these excited molecules return to their ground state, they release the excess energy as light of a longer wavelength, which gives rise to the fluorescence.

COVID-19 Impact: Pandemic Hampered the Demand for Market

The pandemic led to disruptions in global supply chains due to lockdowns, restrictions on movement, and temporary closures of manufacturing facilities. These disruptions likely affected the production and distribution of fluorescent pigments, potentially leading to supply shortages and delays in delivery. The economic impact of the pandemic, including reduced consumer spending and business shutdowns, may have resulted in decreased demand for products that utilize these pigments. Industries such as automotive, consumer goods, and construction have experienced a decline in production and sales during the pandemic. The pandemic has also led to changes in consumer behaviour and preferences. With people spending more time at home and prioritizing health and safety, the demand for certain products may have shifted away from those that incorporate fluorescent pigments. As the world progresses in managing the pandemic and economies start recovering, the market is likely to rebound.

 Latest Trends

"Technological advancements to Fuel Market Growth"

Fluorescent pigments have witnessed increasing demand in various sectors, including paints and coatings, printing inks, plastics, textiles, and cosmetics. The vibrant and eye-catching colours offered by these pigments have made them popular in these industries, where they are used to enhance product appearance and create visual effects. With increasing environmental awareness, there has been a growing demand for sustainable and eco-friendly products. In line with this trend, pigment manufacturers have been focusing on developing environmentally friendly alternatives, such as water-based and low-VOC (volatile organic compound) formulations. Continuous advancements in technology have led to the development of improved pigments with better color intensity, stability, and performance characteristics. Manufacturers are investing in research and development to create new formulations that meet the evolving needs of different industries.

Fluorescent Pigment Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Thermoset Type, Thermoplastic Type, Other (Aqueous Dispersions, etc).

• By Application Analysis

Based on application, the market can be divided into Paints and Coatings Industry,  Printing Inks Industry, Plastics Industry, Others.

Driving Factors

"Increasing Demand for High-Performance and Visually Appealing Products to Stimulate Market Growth"

Fluorescent pigments find applications in a wide range of industries, including paints and coatings, printing inks, plastics, textiles, and cosmetics. The increasing demand for vibrant and eye-catching colours in these industries is driving the fluorescent pigment market growth. With the increasing emphasis on visual appeal, consumers are seeking products with vibrant and unique colours. The development of advanced manufacturing technologies and processes has led to the production of high-quality pigments with improved properties, such as better colour stability, heat resistance, and lightfastness. These advancements have expanded the applications of these pigments, boosting market growth.

"Increased Adoption of UV-Curable Coatings in Several Industries to Fuel Market Growth "

UV-curable coatings, which require fluorescent pigments for achieving desired colour effects, have gained significant popularity due to their fast curing and high performance. The increasing adoption of UV-curable coatings in various industries is driving market demand. As there is a growing emphasis on energy-efficient lighting solutions and the transition from traditional lighting to more efficient options, the demand for these pigment in the lighting industry is expected to grow.          

Restraining Factors

"Rising Environmental Concerns to Restrict Market Growth "

Some fluorescent pigments contain heavy metals or other hazardous substances that can be harmful to the environment. Strict regulations on the use and disposal of these pigments can pose a restraint on the market. Increased focus on sustainability and eco-friendly alternatives may also impact the demand for market.

Fluorescent Pigment Market Regional Insights

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"Well-Established Industrial in North America Anticipated to Drive Market Expansion"

North America has been a leading market for fluorescent pigment market share due to its well-established industrial base and the presence of major manufacturers. The United States, in particular, has a strong demand for these pigments across various industries, such as paints and coatings, plastics, printing inks, and textiles.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are DayGlo(RPM International), Radiant (RPM International), UKSEUNG, SINLOIHI (DAI NIPPON TORYO), Huangshan jiajia fluorescent material co. LTD, Wan long chemical co. LTD, Jiangxi longyuan chemical co. LTD, J Color Technologies, Jiaoling bailin fluorescence technology co. LTD, Huikang fluorescence technology. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• DayGlo(RPM International)
• Radiant (RPM International)
• UKSEUNG
• SINLOIHI (DAI NIPPON TORYO)
• Huangshan jiajia fluorescent material co. LTD
• Wan long chemical co. LTD
• Jiangxi longyuan chemical co. LTD
• J Color Technologies
• Jiaoling bailin fluorescence technology co. LTD
• Huikang fluorescence technology

Report Coverage

This report examines an understanding of the Fluorescent pigment market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.