The global market for fluorescent pigment depends on several industries like packaging, printing, automotive, and others for growth. Market Research Future (MRFR) has revealed possibilities that the market can explore to establish its market claims and ensure better growth in the coming years.
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Industries like packaging, automotive, textile, printing ink, colored papers, paints & coatings are expected to make a significant contribution to the market growth. This will happen notably due to the rising changes in the market and consumer preference. Better research and development projects and the inclusion of 3D printing will also boost the market.
BMW made significant progress with its Limelight i8 model. They have found a new way to incorporate the fluorescent pigment into their car models to give it a shiny look. This plan of BMW Italia has helped the company in providing their car with a forward-thinking look.
The global fluorescent pigment market is expected to find obstacles in lockdowns across countries. The COVID-19 analysis on the fluorescent pigment market reveals hindrances in terms of the halted automobile sector, textile industry, printing inks, and others. This market is also having trouble with transportation and logistics. These factors are proving detrimental to the market growth.
The global market for fluorescent pigment has been segmented into type and application by the experts of MRFR. These experts have gleaned the market for information and found definite charts and figures to make reliable claims. These claims will help players in devising strategies that would prove beneficial for the market.
By type, the global market report discussing the fluorescent pigment has been segmented into inorganic fluors, optical whiteners, and daylight fluorescents. The optical whitener segment has market dominance, which has strong demand in industries like textile, plastic, and others. The segment will also retain its dominance. The global market for optical whitener is the multi-billion dollar industry.
By application, the global report with details of the fluorescent pigment market includes paints & coatings, colored papers, printing ink, plastics, textile, and others. The printing ink segment is expected to rise with the fastest CAGR during the forecast period due to the hike in demand for the component in the packaging industry. The end user industry wants to create options that are attractive and can lure in consumers. Changing consumer preference is playing a big role in boosting the demand for the segment.
The global market analysis of the fluorescent pigment relies on a closer look at the strategic developments launched by companies like UKSEUNG CHEMICAL CO., LTD. (South Korea), LuminoChem Ltd. (Hungary), Radiant Color N.V. (Belgium), Huangshan Jiajia fluorescent material Co., Ltd. (China), DAI NIPPON TORYO CO., LTD. (Japan), Aron Universal Limited (India), Wanlong Chemical Co., Ltd. (China), Vicom Corp. (Taiwan), J COLOR CHEMICALS (China), and MingHui Wuxi (China). These companies are making strong stands by implementing several tactical moves. Moves like mergers, acquisitions, collaborations, and others would help in improving the portfolio of companies. The other ways like a rise in investment for the research and development sector, better branding and launching strategies, and others would also help in making expansion plans for the market. MRFR recorded these recent moves to gauge how the profits can be increased.
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Booming industries in Asia Pacific are expected to take the global fluorescent pigment market forward. Countries like India, China, Japan, South Korea, and others will make progress as they are investing more in associated markets to create a huge demand.