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The rising demand for phosphorescent pigments in plastics for various applications is expected to drive the Phosphorescent Pigments Market growth

HYDERABAD, TELANGANA, INDIA, December 22, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Phosphorescent Pigments Market size is forecast to reach $251.6 million by 2026, after growing at a CAGR of 4.7% during 2021-2026. Phosphorescence is a kind of photoluminescence. Growing demand for inorganic pigments such as zinc sulfide and strontium aluminate due to its characteristics such as strong capacity of absorbing-storing-emitting light, for many very different technical and artistic purposes is estimated to boost the market. Also, the increasing usage of the phosphorescent pigments in various emergency exit signs and low-level lighting exhaust systems as a result of mandatory building and construction guidelines will push the demand for phosphorescent pigments and would drive the market growth in upcoming years. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

This IndustryARC report on the Phosphorescent Pigments Market highlights the following areas -

1. Increasing demand for phosphorescent pigments in the automotive industry applications will drive the market growth. For instance, the growing usage of phosphorescent pigments in the interior and exterior of the vehicles offer safety and visual appeal.

2. Phosphorous pigments are commonly used for decorative usage in the form of paints and coatings and in the manufacture of glow-in-the-dark toys. It is also used in a variety of generic phosphorescent safety signs and directional markers, particularly in low-light environments such as subways and underground parking spaces.

3. Increasing adoption of alternatives such as fluoroscent pigments instead of phosphorescent pigments is further anticipated to create hurdles in the phosphorescent pigments market growth over the forecast period.

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Segmental Analysis:

1. Inorganic pigments held the largest share in the phosphorescent pigments market in 2020. Compared to other phosphorescent pigments, inorganic pigments are more stable and durable and are used where high durability is needed, such as in the outdoor paints. The demand for phosphorescent pigments is segmented on the basis of the products such as zinc sulfide and strontium aluminate.

2. The Asia Pacific region held the largest share with 37% in phosphorescent pigments market in 2020. Globally, demand for phosphorescent pigments is dominated by the Asia-Pacific region due to the rising building and construction, automotive, and electronic industries. Asia Pacific constitutes a major share of the global phosphorescent pigments market, due to easy availability of raw materials at competitive prices in the region.

3. Paints and coatings held the largest share with 25% in the phosphorescent pigments market in 2020 and are projected to grow at a CAGR of 4.4% during the forecast period 2021-2026. Phosphorous pigments play a vital role in the formulation of paints and coatings. Phosphorescent pigments are used as coloring elements in paints and coatings and have a special place in this industry. They help to provide main characteristics for paints and coatings, such as color, toughness, chemical inertness and surface protection.

4. Building and construction sector held the largest share in the phosphorescent pigments market in 2020. Phosphorescent pigments apart from providing color and finish to the paint, also protects the surface underneath from weathering and corrosion and holds the paint together. Owing to which it is widely used in the building and construction industry.

Competitive Landscape:

The top 5 players in the Phosphorescent Pigments Industry are -

1. Nemoto & Co.,Ltd.,
2. GloTech International Ltd ,
3. Allureglow International,
4. LuminoChem Ltd.,
5. Kremer Pigmente GmbH & Co. KG,

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https://www.industryarc.com/Research/Thermochromic-Pigments-Market-Research-503316

B. Agricultural Dyes and Pigments Market
https://www.industryarc.com/Report/15150/agricultural-dyes-and-pigments-market.html

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