-Phosphorescent pigments market is projected to expand at a CAGR of 4.9% from 2021 to 2031. Rise in the demand for photoluminiscent markings in order to illuminate hazardous bends, pedestrian crossings, and speed bumps is boosting market growth.
-Surge in the popularity of innovative and top-performing inorganic phosphorescent pigments is estimated to fuel expansion avenues in the market
ALBANY, N.Y., Dec. 10, 2021 /PRNewswire/ -- Several market enterprises are growing efforts toward the development of eco-friendly phosphorescent pigments. For instance, Unilever is gathering traction, owing to its first-of-its-kind, glow-in-the-dark signage on Hive buildings developed using human- and eco-friendly phosphorescent pigments. This highlights the growing popularity of sustainable buildings concept across the globe.
Following the path of Unilever, many enterprises are diverting considerable sum of money toward R&D projects, which are focused on human- and eco-friendly phosphorescent pigments that flow according to the weather. Key specialty of these pigments is that they demonstrate a bright light on sunny days and a little less light on cloudy days.
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Several players are using the strategy of blending advanced technologies in order to produce outdoor signage, which visually glow at night when artificial light sources of streetlights and buildings are available.
Players are increasing investments in R&D projects, which aim at boosting the performance of human- and eco-friendly phosphorescent pigments suitable for aircraft, mining equipment, and sustainable buildings.
Phosphorescent Pigments Market: Key Findings
- Market Observes Surge in Demand for Photoluminiscent Markings for Illuminating Pedestrian Crossings and Dangerous Bends
Enterprises are experiencing promising growth in demand for phosphorescent paints and coatings. Moreover, many players are advancing the quality of their products in order to attract customer base. A case in point here is a product launch by OliKrom, which is a France-based startup. The latest phosphorescent paint by the firm has been tested in real conditions, and assures enhanced and stable lighting performance, which is useful for road infrastructures.
Surge in the need of illuminating pedestrian crossings, speed bumps, and dangerous bends is boosting the sales opportunities in the global phosphorescent pigments market. Thus, to fulfill the current demand, major market players are increasing the production of phosphorescent paints.
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- Strontium Oxide Aluminate Chemistry Assists Luminescence in Phosphorescent Pigments
Companies are expanding their portfolio as well as strengthening their production capabilities in different phosphorescence masterbatches and compounds for majority of polymers. For instance, RTP Company is expanding its product portfolio in phosphorescent pigments that are able to give an afterglow period of around 10× longer than Zinc Sulfide (ZnS)-based phosphorescent pigments. For the development of phosphorescent pigments, the company has focused on innovations in the strontium oxide aluminate chemistry.
Players are mainly focused on fulfilling present market demand for improved luminescence and afterglow together with increased activation time. Moreover, they are increasing their dependability by avoiding the hazardous substances for use in the production of phosphorescent pigments.
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Phosphorescent Pigments Market: Growth Boosters
- Increase in the use of phosphorescent pigments in the paint and coating industry is resulting into increased sales opportunities for market players
- Surge in the use of phosphorescent pigments for military and road infrastructures applications is estimated to generate lucrative avenue for market players
Phosphorescent Pigments Market: Regional Analysis
- Asia Pacific is a prominent region for companies operating in the phosphorescent pigments market
- The regional market is projected to expand at a CAGR of over 5.6% during the forecast period, 2021-2031
- Rise in in demand for plastics and paints & coatings in the region is boosting the sales of phosphorescent pigments
- China is an important country in the Asia Pacific phosphorescent pigments market. The country is projected to maintain its dominance in the region in the upcoming years.
- The market in Europe is projected to gather lucrative opportunities, owing to surge in product demand from regional automotive industry
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Phosphorescent Pigments Market: Key Players
Some of the key players in the phosphorescent pigments market are:
- Lightleader Co. Ltd.
- Honeywell International Inc
- Nemoto Lumi-Materials Co. Ltd
- GloTech International Ltd
- Organic Dyes and Pigments
- Allureglow International
- Yixing Luminous Material Co. Ltd
- Kremer Pigmente
- Badger Color Concentrates Inc.
- SINLOIHI CO., LTD
Phosphorescent Pigments Market Segmentation
Product
- Zinc Sulfide
- Strontium Aluminate
End Use
- Paints & Coatings
- Plastics
- Printing Inks
- Textiles
- Others (including Electronics)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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