Market Size –
The optical brightener market size has grown strongly in recent years. It will grow from <b>$1.19 billion in 2023 to $1.31 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. </b> The growth in the historic period can be attributed to growing textile industry, expansion in paper and packaging, advancements in formulations, consumer preference for bright colors, globalization of markets, innovations in specialty products.
The optical brightener market size is expected to see strong growth in the next few years. It will grow to <b>$1.87 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. </b> The growth in the forecast period can be attributed to increasing use in plastics and polymers, stringent environmental regulations, rising disposable income, increasing applications in automotive industry, customization for unique applications. Major trends in the forecast period include technological advancements in formulations, shift towards environmentally friendly options, application in cosmetics and personal care products, focus on brightness and color enhancement, application in printing inks, collaborations and partnerships.
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Scope Of Optical Brightener Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Optical Brightener Market Overview
Market Drivers –
Growing manufacturing activities are expected to propel the growth of the optical brighteners market going forward. Manufacturing is a sector of the economy involved in the production of goods for sale. Optical brighteners are used in manufacturing as a raw material for certain industries such as fabrics, synthetics, plastics, detergents, and so on. For instance, according to a report published by the United Nations Industrial Development Organization, a US-based national agency, in March 2022, there was a growth of 7 percent in the third quarter and of nearly 30 percent in the second quarter of 2021 in manufacturing production in developing and emerging industrial economies. Manufacturing production in industrialized European economies rose by 1.8 percent in the last quarter of 2021. Therefore, growing manufacturing activities are driving the growth of the optical brightener market.
Market Trends –
Strategic partnerships and collaborations are a key trend gaining popularity in the optical brightener market. Major companies operating in the market are focused on strategic agreements and mergers to meet customer demand. For instance, in May 2022, Brenntag Specialties a Germany-based chemical distribution got into a new agreement with Archroma a Switzerland-based specialty chemical and optical brightener producer for the expansion of its portfolio of products in-home care and household, industrial & institutional (HI&I) cleaning laundry products and detergents. Through this acquisition, Brenntag Specialties aims to expand in the USA and Canada.
The optical brightener market covered in this report is segmented –
1) By Type: Triazine-Stilbenes, Coumarins, Imidazolines, Diazoles, Benzoxazolines
2) By Application: Paper, Fabrics, Detergents And Soaps, Synthetics And Plastics, Lacquers, Ultraviolet Tracer, Pigmented Lacquers
3) By End-Use: Consumer Product, Security And Safety, Textiles And Apparel, Packaging
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Regional Insights –
Asia-Pacific dominated the optical brightener market and is expected to be the largest market in 2023. The regions covered in the optical brightener market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the optical brightener market report are BASF Colors & Effects GmbH, Huntsman International LLC, Eastman Chemical Company, Archroma, Clariant AG, RPM International Corp., Keystone Aniline Corporation, Aron Universal Ltd., Brilliant Colors Inc., 3V Company Inc., The Fong Min International Company Limited, Kolorjet Chemicals Pvt. Ltd., Dayglo Color Corp., BoldChem Technology Co. Ltd., Beijing Odyssey Chemicals Co. Ltd., Hebei Xingyu Chemical Co. Ltd., Nantong Huanuo Pigment Co. Ltd., Shandong Joy-ring Chemical Co. Ltd., Shanxi Colorshine Chemical Industry Co. Ltd., Dystar Singapore Pte Ltd., Everlight Chemical Industrial Corporation, Lanxess AG, Ciba Specialty Chemicals, Bayer AG, Dow Chemical Company, Evonik Industries, Solvay SA, Shandong Lukang Pharmaceutical Co. Ltd., Shandong Yisheng Chemical Co. Ltd., Zhejiang Wanjie Co. Ltd.
Table of Contents
1. Executive Summary
2. Optical Brightener Market Report Structure
3. Optical Brightener Market Trends And Strategies
4. Optical Brightener Market – Macro Economic Scenario
5. Optical Brightener Market Size And Growth
…..
27. Optical Brightener Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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