Overview and Scope
Luminous paint, also known as glow-in-the-dark paint, is a type of paint that exhibits luminescent properties,which emits light without consuming energy from an external light source. This is made possible by phosphorescent or photoluminescent pigments, which capture and then emit light energy. Phosphorescent pigments release light slowly, while photoluminescent pigments emit light instantly when exposed to light.
Sizing and Forecast
The luminous paint market size has grown strongly in recent years. It will grow from $14.01 billion in 2023 to $15.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to consumer awareness and preference, military and defense applications, demand from automotive sector, healthcare sector requirements, demand from construction industry.
The luminous paint market size is expected to see rapid growth in the next few years. It will grow to $22.5 billion in 2028 at a compound annual growth rate (CAGR) of 10%. The growth in the forecast period can be attributed to growth in tourism and entertainment industry, environmental regulations and sustainability, demand from end-use industries, increasing awareness of safety, urbanization and population growth. Major trends in the forecast period include expansion in construction industry, rise in decorative and artistic uses, focus on eco-friendly formulations, increased adoption in automotive sector, integration with smart technologies.
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Segmentation & Regional Insights
The luminous paint market covered in this report is segmented –
1) By Type: Fluorescent Paint, Phosphorescent Paint, Radio Luminescent Paint
2) By Material: Zinc Sulfide Powder, Calcium Sulfide Powder, Strontium-90 (Sr-90), Tritium (H-3) And Promethium (Pm-147), Radium-226 (Ra-226), Other Materials
3) By Application: Escape Routes, Emergency Signage, Cosmetics, Home Decor, Other Applications
4) By End Use Industry: Transportation Industry, Medical And Healthcare Industry, Building And Construction, Defense Industry, Oil and Gas Industry, Other End-Users
Asia-Pacific was the largest region in the luminous paint market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the luminous paint market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for commercial buildings infrastructure projects is expected to propel the growth of the luminous paint market going forward. Commercial building infrastructure projects refer to large-scale construction initiatives to develop, renovate, or expand commercial properties such as office buildings, retail centers, hotels, and mixed-use developments. Infrastructure projects in commercial spaces are growing due to increasing urbanization, rising demand for modern office spaces, technological advancements requiring updated building systems, and a focus on sustainability driving energy-efficient upgrades and renovations. Luminous paints enhance safety and aesthetics in commercial buildings by providing visible signage, emergency lighting, and decorative elements, aiding in wayfinding and branding. For instance, in June 2023, according to the quarterly construction inquiry published by the Northern Ireland Statistics and Research Agency, an Ireland-based public authority, from the first quarter of 2022 to the first quarter of 2023, the overall construction industry expanded by 6.5%, with the housing sector of construction increasing by 11.1% and the infrastructure subsector by 3.7%. Therefore, the increasing demand for infrastructure projects in commercial buildings is driving the growth of the luminous paint market.
Key Industry Players
Major companies operating in the luminous paint market are Rust-Oleum Corporation, Rosco Laboratories, DayGlo Color Corp., Tec Star LLC, Star Nail International LLC, Lumiflon America Inc., Teal and Mackrill, ADS Group, Glow Inc., Defense Holdings, GloTech International, Glow Tec UK Ltd., PUFFDINO Trade Co. Ltd., Art ‘N Glow LLC, EverGlow NA Inc., Glow Products Canada Inc., Glow-Mania LLC, Glowway Oy, Jolie Paint LLC, Lumilor LLC, Luminova Corporation, Luminox USA Inc., Noxton Company, SolarColorDust LLC, Wildfire Lighting
The luminous paint market report table of contents includes:
1. Executive Summary
2. Luminous Paint Market Characteristics
3. Luminous Paint Market Trends And Strategies
4. Luminous Paint Market – Macro Economic Scenario
5. Global Luminous Paint Market Size and Growth
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32. Global Luminous Paint Market Competitive Benchmarking
33. Global Luminous Paint Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Luminous Paint Market
35. Luminous Paint Market Future Outlook and Potential Analysis
36. Appendix
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