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Phosphorescent Pigments Market Size 2024 - Global Industry Growth, Analysis, Share, Trends and Forecast

Author : Ronak Bora | Published Date : 2019-05-29 

Plastics industry deemed to be the profitable quotient for the phosphorescent pigments market size as they are combined with various resins such as polyethylene, polyvinyl chloride, propylene, acrylonitrile butadiene styrene to provide luminous property to wheel coatings, automotive interiors, military equipment, packaging materials, and novelty toys. High emission time, non-radioactivity, temperature stability of the phosphorescent pigments provides long lasting luminous effect to the plastic films and imitation leathers which will further boost the product market in next seven years down the line. Phosphorescent Pigments Market Size will surpass USD 290 million by 2024; according to a new research report by Global Market Insights, Inc.

Rising construction activities and automotive sales in the emerging economies of Asia Pacific and Latin America will generate substantial product demand in these regions. Rising aesthetically superior construction materials and auto parts demand is said to propel the phosphorescent pigments market demand in these regions. Asia Pacific is the leading region and will likely account for over 50% of the entire phosphorescent pigments market share by 2024.

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Phosphorescent pigments also find application in fishing lures, craft paints, clock & watch dials, home appliances, lighting apparatus and switches, automotive and aircraft indicator and instrument panels, outdoor pathway marking, camping equipment, remote control keypads and silkscreen printing on posters and textiles. The increasing usage of these regular use commodities will substantiate a significant development in the phosphorescent pigments market in coming years.

Primary hindrance to the product market growth is the substitution of phosphorescent with fluorescent pigments which have long wavelength and immediate emit light property. Moreover, fluctuations in zinc sulfide prices may also hamper the product market during the forecast years.

On the basis of product, the phosphorescent pigments market is bifurcated into strontium aluminate and zinc sulfide. Zinc sulfide is the most commonly used pigment, owing to low price and easy availability, as compared to strontium aluminate and has a higher industry share. On the contrary, strontium aluminate is likely to have a high growth rate owing to its 10 times high luminous power than zinc sulfide. Replacement of zinc sulfide and increasing use of strontium aluminate will fuel the product market in coming years.

Based on end-user, the phosphorescent pigments market is diversified into construction materials, paints & coatings, plastics, printing inks and others including electronics, textile, rubber, etc. These materials are applied in safety passage, factories, stations, ships, public buildings, etc. to help people to find the rescue way in dark environment. Construction materials such as decorative pieces will account for a significant market share owing to buying power of consumers around the globe.

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Growing automotive production and construction activities in Asia-Pacific region will provide the region more than half of the global market share. The product use to manufacture automobile parts and construction materials with better quality and aesthetic look will spur the phosphorescent pigments market in next seven years down the line.

Some key industry players in the phosphorescent pigments market include LuminoChem Ltd., Honeywell International, Glotech International, Nemoto Lumi-Materials, Allureglow International, Allureglow International, Glow Inc., RC Tritec, RTP Company, GTA, GloNation, Tavco Chemicals, Next Generation, United Mineral and Chemical Corp., and Radiant Color.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

Phone: 1-302-846-7766

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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