The newly launched report by Stratview Research, titled ‘Phosphorescent Pigments Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026’ has been bifurcated by Product Type (Zinc Sulfide and Strontium Aluminate), by End-User Type (Paints & Coatings, Printing Inks, Plastics, Construction Materials, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
According to the report Phosphorescent Pigments Market is likely to witness an impressive CAGR of 4.5% during the forecast period. Growing product demand in paints & coatings and increasing applications in various signage boards and consumer goods are the key factors fueling the growth of the market over the forecast period.
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Market Segmentation Analysis –
Based on the product type, the market is segmented as zinc sulfide and strontium aluminate. Strontium aluminate is estimated to witness high growth in the market over the forecast period on account of its superior qualities and better pricing as compared to zinc sulfide.
Based on the end-user type, the market is segmented as paints & coatings, printing inks, plastics, construction materials, and others. Paints & coatings are estimated to account for the larger share of the market over the forecast period on account of increasing demand for photo-luminescent paints in various applications, such as in interior decoration in residential and commercial construction and for manufacturing glow in the dark paints.
In terms of regions, Asia-Pacific is estimated to account for the largest share of the market owing to the considerably growing paints & coatings industry and increase in construction activities in the region with China being the regional growth engine providing lucrative growth opportunities during the forecast period. On the other hand, North America and Europe are also estimated to witness significant growth in the market on account of a large number of commercial buildings in the U.S. and rising end-user industries in Europe, fueling the overall industry growth over the forecast period.
The following are the key players in the market-
- GloNation LLC.
- Glotech International
- Honeywell International Inc.
- LuminoChem Ltd.
- Nemoto Lumi-Materials Company Limited
- Next Generation B.V.
- Radiant Color NV
- RTP Company
- Tavco Chemicals, Inc.
- United Mineral and Chemical Corp.
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